Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Australia

Australia

In Australia, the revenue generated in the Cold & Cough Remedies market market is estimated to be €0.50k in 2024.
It is projected that the market will experience an annual growth rate of 6.34% (CAGR 2024-2029).
When comparing the revenue on a global scale, the in the United States leads the market with €10,380.00 in 2024.
Taking into account the total population, per person revenues amount to €18.59 in 2024.
In Australia, there is a growing demand for natural and herbal cold and cough remedies in the OTC Pharmaceuticals market.

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

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Analyst Opinion

The Cold & Cough Remedies market in Australia has been experiencing steady growth in recent years.

Customer preferences: Australian consumers have shown a growing preference for natural and herbal remedies for cold and cough symptoms. This shift in consumer preferences can be attributed to a general trend towards more natural and holistic approaches to healthcare. Consumers are increasingly seeking products that are free from artificial ingredients and chemicals, and are instead opting for products that contain natural ingredients such as honey, ginger, and eucalyptus. This preference for natural remedies is driving the demand for herbal cold and cough remedies in the Australian market.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Australia is the increasing popularity of over-the-counter (OTC) medications. OTC medications are easily accessible and do not require a prescription, making them a convenient choice for consumers. This trend is driven by the busy and fast-paced lifestyle of Australians, who often prefer to self-medicate rather than visit a doctor for minor ailments such as cold and cough symptoms. As a result, OTC cold and cough remedies are experiencing strong sales growth in the Australian market.Another trend in the market is the rising demand for combination cold and cough remedies. These products offer multiple benefits in a single formulation, providing relief from both cold and cough symptoms. Combination remedies are particularly popular among consumers who want a convenient and cost-effective solution to manage their cold and cough symptoms. The demand for combination remedies is driven by the desire for products that offer comprehensive relief and convenience.

Local special circumstances: Australia's unique climate and geography contribute to the prevalence of cold and cough symptoms among its population. The country experiences a wide range of temperatures and weather conditions, which can lead to fluctuations in the immune system and increase the risk of catching a cold or developing a cough. Additionally, Australia's high levels of air pollution in urban areas can exacerbate respiratory conditions and contribute to the prevalence of cold and cough symptoms. These local circumstances create a favorable environment for the Cold & Cough Remedies market in Australia.

Underlying macroeconomic factors: The growing population and increasing disposable income levels in Australia are driving the growth of the Cold & Cough Remedies market. As the population continues to expand, the number of potential consumers for cold and cough remedies also increases. Moreover, rising disposable incomes enable consumers to afford these products, leading to higher demand in the market. Additionally, the increasing awareness and emphasis on health and wellness in Australia have contributed to the growth of the Cold & Cough Remedies market, as consumers prioritize self-care and seek products to alleviate their cold and cough symptoms.

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.