Market Insights Health Pharmacies OTC Products

Cold & Cough Remedies (Pharmacies) - Argentina

Argentina

Revenue in the Cold & Cough Remedies market is projected to reach €56.63m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.17%, resulting in a market volume of €72.88m by 2029.
In global comparison, most revenue will be generated in China (€7,182.00m in 2024).
In relation to total population figures, per person revenues of €1.23 are generated in 2024.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Cold & Cough Remedies (Pharmacies) market in Argentina has been experiencing significant growth in recent years.

Customer preferences: Customers in Argentina have shown a strong preference for over-the-counter cold and cough remedies, which are easily accessible in pharmacies across the country. This preference can be attributed to several factors. Firstly, over-the-counter remedies provide convenience, allowing customers to self-medicate without the need for a prescription. Secondly, these remedies are often more affordable compared to prescription medications, making them more accessible to a wider range of consumers. Lastly, customers in Argentina value the ability to quickly alleviate their symptoms and return to their daily activities, which over-the-counter remedies can provide.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Argentina is the increasing demand for natural and herbal remedies. Consumers are becoming more conscious of the ingredients in the products they use and are seeking alternatives to traditional medications. This trend aligns with the global shift towards natural and holistic healthcare solutions. As a result, pharmacies in Argentina are expanding their product offerings to include a wider range of natural and herbal remedies for cold and cough relief. Another trend in the market is the growing popularity of combination cold and cough remedies. These products offer multi-symptom relief, targeting common cold and cough symptoms such as congestion, sore throat, and coughing. Combination remedies provide convenience for consumers by addressing multiple symptoms with a single product. This trend is driven by the desire for effective and efficient relief, as well as the convenience of having fewer products to purchase and consume.

Local special circumstances: Argentina's climate and geographical location contribute to the prevalence of cold and cough symptoms among its population. The country experiences seasonal changes that can lead to fluctuations in temperature and humidity, creating an environment conducive to respiratory illnesses. Additionally, the high population density in urban areas and the prevalence of public transportation can contribute to the spread of cold and cough viruses. These local circumstances create a higher demand for cold and cough remedies in Argentina compared to countries with different climates and population densities.

Underlying macroeconomic factors: The economic stability and increasing disposable income in Argentina have also played a role in the growth of the Cold & Cough Remedies (Pharmacies) market. As the economy improves, consumers have more purchasing power and are willing to spend on healthcare products. This has led to an increase in sales of cold and cough remedies, as consumers prioritize their health and well-being. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Argentina is developing due to customer preferences for over-the-counter remedies, the increasing demand for natural and herbal remedies, the popularity of combination products, local special circumstances such as the climate and population density, and the improving macroeconomic factors in the country.

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.