Market Insights Health Pharmacies OTC Products

Cold & Cough Remedies (Pharmacies) - Spain

Spain

Revenue in the Cold & Cough Remedies market is projected to reach €0.62bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.97%, resulting in a market volume of €0.79bn 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 €13.04 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 Spain has been experiencing significant growth in recent years.

Customer preferences: Spanish consumers have shown a strong preference for over-the-counter cold and cough remedies, which has been driving the growth of the market. This preference can be attributed to several factors. Firstly, the convenience of purchasing these remedies from pharmacies, which are widely available throughout the country, makes them a popular choice for consumers. Additionally, the affordability of over-the-counter remedies compared to prescription medications makes them an attractive option for those seeking relief from cold and cough symptoms.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Spain is the increasing demand for natural and herbal remedies. Spanish consumers are becoming more health-conscious and are seeking products that are perceived as being more natural and less likely to have side effects. This trend is reflected in the growing popularity of herbal remedies, such as echinacea and elderberry, which are believed to boost the immune system and help alleviate cold and cough symptoms. Another trend in the market is the growing demand for combination remedies that target multiple symptoms. Consumers are increasingly looking for products that can provide relief from a range of cold and cough symptoms, such as congestion, sore throat, and cough. This has led to the development of combination remedies that contain multiple active ingredients to address these different symptoms.

Local special circumstances: Spain has a high prevalence of cold and cough infections, particularly during the winter months. The country's climate, with its cold and damp winters, creates conditions that are conducive to the spread of these respiratory infections. As a result, there is a high demand for cold and cough remedies in Spain, which has contributed to the growth of the market.

Underlying macroeconomic factors: The growth of the Cold & Cough Remedies (Pharmacies) market in Spain can also be attributed to certain macroeconomic factors. Spain has experienced steady economic growth in recent years, which has resulted in increased disposable income for consumers. This has allowed consumers to spend more on healthcare products, including cold and cough remedies. Additionally, the aging population in Spain has contributed to the growth of the market, as older individuals are more susceptible to cold and cough infections and are more likely to seek remedies to alleviate their symptoms.

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.