Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in India has been experiencing significant growth in recent years.
Customer preferences: Customers in India have shown a strong preference for over-the-counter cold and cough remedies, particularly those available in pharmacies. This preference can be attributed to the convenience and accessibility of these products, as well as the trust that customers have in the quality and efficacy of pharmaceutical products sold in pharmacies. Additionally, customers in India tend to prioritize affordability when purchasing cold and cough remedies, which has led to a high demand for generic and low-cost options.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in India is the increasing demand for natural and herbal remedies. This trend is driven by a growing awareness among customers about the potential side effects of synthetic medications and a desire for more holistic treatment options. As a result, pharmaceutical companies in India have been launching a range of natural and herbal cold and cough remedies to cater to this demand. Another trend in the market is the rising popularity of combination remedies. Customers in India are increasingly seeking products that offer relief from multiple symptoms of cold and cough, such as congestion, sore throat, and cough. Pharmaceutical companies have responded to this trend by developing combination remedies that address these multiple symptoms, providing customers with a convenient and comprehensive solution.
Local special circumstances: India has a high prevalence of cold and cough due to various factors such as pollution, seasonal changes, and a large population. This creates a significant market opportunity for cold and cough remedies in the country. Additionally, the Indian healthcare system is primarily based on self-medication, with customers often seeking treatment for minor ailments like cold and cough at pharmacies rather than visiting doctors. This further drives the demand for cold and cough remedies in the pharmacy market.
Underlying macroeconomic factors: The growing middle class in India, along with increasing disposable incomes, has contributed to the growth of the Cold & Cough Remedies (Pharmacies) market. As more people are able to afford healthcare products, the demand for cold and cough remedies has increased. Additionally, the expanding urban population in India, with its fast-paced lifestyle and high levels of pollution, has also fueled the demand for these remedies. In conclusion, the Cold & Cough Remedies (Pharmacies) market in India is developing due to customer preferences for over-the-counter remedies, trends towards natural and combination remedies, the prevalence of cold and cough in the country, and underlying macroeconomic factors such as the growing middle class and urban population.
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.
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