Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Asia

Asia

In 2024, the revenue in the Cold & Cough Remedies market market in Asia amounts to €14.90bn.
It is projected to experience an annual growth rate of 7.61% (CAGR 2024-2029).
Comparing it on a global scale, the in the United States generates the highest revenue of €10,380.00m in 2024.
Taking into account the total population figures, per person revenues of €3.28 are generated in 2024.
Cold & Cough Remedies in Asia are heavily influenced by traditional medicine practices, with countries like China and India relying on herbal remedies and ancient healing techniques.

Key regions: Australia, Japan, India, Brazil, Canada

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Analyst Opinion

The Cold & Cough Remedies market in Asia is experiencing significant growth and development.

Customer preferences: Customers in Asia are increasingly seeking remedies to alleviate symptoms of cold and cough. With the rise in urbanization and changing lifestyles, the demand for over-the-counter cold and cough remedies has increased. Customers are looking for convenient and effective solutions to manage their symptoms and improve their overall well-being.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Asia is the growing popularity of natural and herbal remedies. Customers are becoming more conscious about the ingredients they consume and are opting for products that are perceived as safer and more sustainable. As a result, there has been an increase in the demand for natural remedies such as herbal teas, essential oils, and traditional remedies.Another trend in the market is the increasing availability of cold and cough remedies in different formats. Customers now have a wide range of options to choose from, including tablets, syrups, lozenges, and nasal sprays. This allows them to select the format that best suits their preferences and needs.

Local special circumstances: Asia is a diverse region with varying healthcare systems and cultural practices. In some countries, traditional remedies and practices are deeply rooted in the culture and are widely used to manage cold and cough symptoms. This has led to a unique market landscape where traditional remedies coexist with modern over-the-counter products.Furthermore, the prevalence of air pollution in many Asian countries has also contributed to the demand for cold and cough remedies. Customers are more susceptible to respiratory illnesses due to the poor air quality, and therefore, there is a greater need for effective remedies to alleviate symptoms.

Underlying macroeconomic factors: The growing middle-class population in Asia is a key driver of the Cold & Cough Remedies market. As disposable incomes increase, customers have more purchasing power to spend on healthcare products, including cold and cough remedies. Additionally, the rising awareness about health and wellness is also fueling the demand for these products.Furthermore, the aging population in Asia is another factor contributing to the growth of the market. As people age, they are more prone to respiratory illnesses, and therefore, there is a higher demand for cold and cough remedies among the elderly population.In conclusion, the Cold & Cough Remedies market in Asia is experiencing growth and development due to changing customer preferences, the availability of different product formats, local special circumstances, and underlying macroeconomic factors. As customers become more health-conscious and seek convenient solutions for managing their symptoms, the market is expected to continue to expand in the coming years.

Methodology

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.