Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in United States is experiencing significant growth due to several key factors.
Customer preferences: Customers in the United States have a strong preference for over-the-counter cold and cough remedies that are easily accessible and affordable. They value convenience and are more likely to purchase these products from pharmacies rather than visiting a doctor for a prescription. This preference for self-medication has contributed to the growth of the Cold & Cough Remedies market in United States.
Trends in the market: One of the key trends in the Cold & Cough Remedies market in United States is the increasing demand for natural and herbal remedies. Customers are becoming more conscious about the ingredients in the products they use and are seeking alternatives to traditional pharmaceutical remedies. This trend is driven by a growing interest in holistic health and wellness, as well as concerns about the potential side effects of certain medications. Another trend in the market is the rise of online pharmacies. Customers are increasingly turning to online platforms to purchase their cold and cough remedies, as they offer convenience, a wider range of products, and competitive prices. This trend has been accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across all sectors.
Local special circumstances: The United States has a highly developed healthcare system and a strong pharmaceutical industry. This has resulted in a wide range of cold and cough remedies being available in the market, including both branded and generic options. Customers have access to a variety of products that cater to their specific needs, preferences, and budgets. Additionally, the United States has a large population that experiences cold and cough symptoms, which further contributes to the demand for remedies in this market.
Underlying macroeconomic factors: The growth of the Cold & Cough Remedies market in United States is also influenced by macroeconomic factors. The country has a high disposable income, which allows customers to afford over-the-counter remedies. Furthermore, the United States has a well-established healthcare infrastructure and a high level of health awareness among its population. These factors contribute to the demand for cold and cough remedies as customers prioritize their health and seek quick relief from their symptoms. In conclusion, the Cold & Cough Remedies (Pharmacies) market in United States is growing due to customer preferences for accessible and affordable remedies, the increasing demand for natural and herbal alternatives, the rise of online pharmacies, the availability of a wide range of products, and the underlying macroeconomic factors such as high disposable income and a well-established healthcare system.
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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