Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - China

China

In China, the revenue generated in the Cold & Cough Remedies market market in 2024 amounts to €8.05bn.
It is expected that the market will experience an annual growth rate of 7.28% (CAGR 2024-2029).
Comparing globally, the in the United States generates the highest revenue in this market, with €10,380.00m in 2024.
When considering the population, the per person revenue in China is €5.62 in 2024.
In China, traditional Chinese medicine plays a significant role in the cold & cough remedies market, with herbal remedies being preferred over Western pharmaceuticals.

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

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Analyst Opinion

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

Customer preferences: Chinese consumers are increasingly concerned about their health and well-being, leading to a growing demand for cold and cough remedies. With a large population and a high prevalence of cold and cough symptoms, the market for these remedies is expanding rapidly. Consumers are seeking effective and convenient solutions to alleviate their symptoms and improve their overall health.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in China is the rising popularity of natural and herbal remedies. Chinese consumers have a long history of using traditional Chinese medicine, and they are now turning to natural ingredients and remedies for cold and cough relief. This trend is driven by a desire for more holistic and sustainable approaches to healthcare.Another trend in the market is the increasing availability and variety of cold and cough remedies. Chinese consumers have access to a wide range of products, including over-the-counter medications, herbal remedies, and traditional Chinese medicine. This variety allows consumers to choose products that best suit their needs and preferences.

Local special circumstances: China has a unique healthcare system that influences the Cold & Cough Remedies market. Traditional Chinese medicine plays a significant role in healthcare in China, and many consumers prefer to use herbal remedies for cold and cough relief. Additionally, the Chinese government has been promoting the development of traditional Chinese medicine and has implemented policies to support its growth. These factors contribute to the popularity of traditional remedies in the market.

Underlying macroeconomic factors: The growing middle class in China has more disposable income and is willing to spend on healthcare products, including cold and cough remedies. Rising urbanization and changing lifestyles have also contributed to the increase in cold and cough symptoms among the population. Additionally, the aging population in China is driving the demand for remedies that can alleviate cold and cough symptoms in older adults.In conclusion, the Cold & Cough Remedies market in China is experiencing growth due to increasing customer preferences for natural remedies, the availability of a wide range of products, the influence of traditional Chinese medicine, and underlying macroeconomic factors such as the rising middle class and aging population. As the market continues to evolve, it is expected to offer more innovative and tailored solutions to meet the diverse needs of Chinese consumers.

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.