The Cold & Cough Remedies market in Portugal has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all played a role in shaping this development.Customer preferences in Portugal have shown a strong inclination towards natural remedies for cold and cough. Consumers are increasingly seeking products that are made from natural ingredients and have fewer side effects. This preference for natural remedies is driven by a growing awareness of health and wellness, as well as a desire to avoid over-the-counter medications. As a result, there has been a rise in demand for herbal and homeopathic cold and cough remedies in the Portuguese market.Trends in the market reflect this shift towards natural remedies. Pharmaceutical companies and manufacturers of cold and cough remedies have responded to the changing preferences of consumers by introducing a wide range of natural products. These products often contain herbal extracts, essential oils, and other natural ingredients known for their therapeutic properties. The market has also seen an increase in the availability of organic and plant-based cold and cough remedies.In addition to customer preferences and market trends, there are local special circumstances that have influenced the development of the Cold & Cough Remedies market in Portugal. The country has a long history of traditional medicine, which has contributed to the popularity of natural remedies. Traditional Portuguese remedies, such as herbal teas and honey-based remedies, continue to be widely used for treating cold and cough symptoms. This cultural heritage has created a favorable environment for the growth of the natural remedies market.Underlying macroeconomic factors have also played a role in the development of the Cold & Cough Remedies market in Portugal. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, consumers are more willing to invest in their health and are willing to pay a premium for natural and organic products. The growing middle class in Portugal has become an important target market for cold and cough remedy manufacturers.In conclusion, the Cold & Cough Remedies market in Portugal is developing in response to customer preferences for natural remedies, market trends towards natural and organic products, local special circumstances related to traditional medicine, and underlying macroeconomic factors such as economic growth and increased consumer spending. This steady growth is expected to continue as consumers prioritize their health and seek out natural solutions for cold and cough symptoms.
Data coverage:
Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.Modeling approach / Market size:
Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.Additional notes:
Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.
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