Market Insights Health Pharmacies OTC Products

Cold & Cough Remedies (Pharmacies) - Canada

Canada

Revenue in the Cold & Cough Remedies market is projected to reach €252.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.04%, resulting in a market volume of €322.90m 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 €6.46 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 Canada has been experiencing steady growth in recent years.

Customer preferences: Consumers in Canada have shown a growing preference for over-the-counter cold and cough remedies available at pharmacies. This shift in preference can be attributed to several factors. Firstly, the convenience of purchasing these remedies at pharmacies is a major factor. Consumers can easily access these products without the need for a prescription, allowing them to quickly alleviate their symptoms. Additionally, the increasing awareness and education about self-care and the importance of managing common cold and cough symptoms have also contributed to the rise in demand for these remedies.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Canada is the growing 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 pharmaceutical remedies. This trend is driven by a desire for more natural and holistic approaches to healthcare. As a result, pharmacies are expanding their offerings to include a wider range of natural and herbal remedies to cater to this growing demand. Another trend in the market is the increasing popularity of combination remedies. These products offer multiple benefits in a single dose, such as relieving symptoms of cold and cough while also providing relief from congestion or sore throat. Combination remedies offer convenience to consumers by addressing multiple symptoms with a single product. This trend is driven by the desire for more efficient and effective remedies.

Local special circumstances: In Canada, the cold and flu season typically peaks during the winter months. The cold weather and close proximity of individuals in indoor spaces contribute to the spread of viruses, resulting in a higher incidence of cold and cough symptoms. This seasonal pattern creates a predictable demand for cold and cough remedies during the winter months, with pharmacies experiencing increased sales during this period.

Underlying macroeconomic factors: The growing population and aging demographics in Canada are also driving the growth of the Cold & Cough Remedies (Pharmacies) market. As the population continues to grow, the number of individuals seeking remedies for cold and cough symptoms also increases. Additionally, the aging population is more susceptible to cold and cough symptoms, leading to a higher demand for remedies. Furthermore, the increasing healthcare costs and long wait times for doctor appointments in Canada have also contributed to the growth of the Cold & Cough Remedies (Pharmacies) market. Consumers are turning to pharmacies as a more accessible and cost-effective alternative for managing their cold and cough symptoms. This trend is expected to continue as healthcare costs and wait times remain a concern for many Canadians.

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.