Market Insights Health Pharmacies OTC Products

Cold & Cough Remedies (Pharmacies) - United Kingdom

United Kingdom

Revenue in the Cold & Cough Remedies market is projected to reach €229.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.03%, resulting in a market volume of €352.80m by 2029.
In global comparison, most revenue will be generated in China (€7,257.00m in 2024).
In relation to total population figures, per person revenues of €3.37 are generated in 2024.

Key regions: Canada, United Kingdom, United States, China, Europe

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Analyst Opinion

The Cold & Cough Remedies (Pharmacies) market in United Kingdom is witnessing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in the United Kingdom are increasingly opting for over-the-counter cold and cough remedies from pharmacies. This preference can be attributed to the convenience and accessibility of pharmacies, as well as the trust placed in pharmacists for their expertise in recommending the right products. Additionally, customers are becoming more health-conscious and are seeking remedies that provide quick relief from cold and cough symptoms.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in the United Kingdom is the growing demand for natural and herbal remedies. Customers are increasingly seeking products that are perceived to be more gentle on the body and have fewer side effects. This trend is driven by the rising awareness of the potential risks associated with the long-term use of certain pharmaceutical drugs. Another trend in the market is the increasing popularity of combination products that offer relief from multiple symptoms. Customers are looking for remedies that address not only the cough and cold symptoms but also associated issues such as congestion, sore throat, and fever. Pharmacies are responding to this demand by stocking a wide range of combination products that cater to different customer needs.

Local special circumstances: The National Health Service (NHS) in the United Kingdom plays a significant role in shaping the Cold & Cough Remedies market. The NHS provides free healthcare services, including prescription medications, to residents of the United Kingdom. However, due to the increasing burden on the NHS, there has been a shift towards self-care and over-the-counter remedies. This has led to an increase in the demand for cold and cough remedies from pharmacies.

Underlying macroeconomic factors: The growing prevalence of cold and cough cases in the United Kingdom is a key macroeconomic factor driving the market. The changing weather patterns, pollution levels, and lifestyle factors contribute to the high incidence of cold and cough among the population. As a result, there is a constant need for remedies to alleviate the symptoms and provide relief. Furthermore, the increasing disposable income and improving living standards in the United Kingdom have also contributed to the growth of the Cold & Cough Remedies market. Customers are more willing to spend on healthcare products and are seeking effective remedies to manage their health. In conclusion, the Cold & Cough Remedies (Pharmacies) market in the United Kingdom is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for over-the-counter remedies from pharmacies is driven by the convenience and accessibility they offer, as well as the trust placed in pharmacists. The market is witnessing trends such as the preference for natural and herbal remedies and the demand for combination products. The role of the NHS in shaping the market cannot be overlooked, and the growing prevalence of cold and cough cases, as well as the increasing disposable income, are key macroeconomic factors contributing to the market's growth.

Methodology

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.