Market Insights Health Pharmacies OTC Products

Cold & Cough Remedies (Pharmacies) - Thailand

Thailand

Revenue in the Cold & Cough Remedies market is projected to reach €160.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.00%, resulting in a market volume of €235.50m 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 €2.23 are generated in 2024.

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

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Región

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Moneda

Analyst Opinion

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

Customer preferences: Thai consumers have shown a growing preference for over-the-counter cold and cough remedies, which can be conveniently purchased at pharmacies without the need for a prescription. This trend is driven by the desire for quick relief from common cold and cough symptoms, as well as the increasing awareness of self-care and the convenience of purchasing medications without visiting a doctor.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Thailand is the increasing demand for natural and herbal remedies. Thai consumers are becoming more health-conscious and are seeking products that are perceived as more natural and less likely to cause side effects. As a result, there has been a rise in the availability and popularity of herbal cold and cough remedies in pharmacies across the country. Another trend in the market is the growing popularity of combination products that offer multiple benefits in a single medication. For example, cold and cough remedies that also provide relief from nasal congestion or sore throat are gaining traction among Thai consumers. This trend is driven by the convenience and cost-effectiveness of using a single medication to address multiple symptoms.

Local special circumstances: Thailand has a tropical climate, which makes the country prone to seasonal changes and variations in temperature. These changes in weather patterns often lead to an increase in the prevalence of cold and cough symptoms among the population. As a result, there is a consistent demand for cold and cough remedies throughout the year, with peak seasons during the cooler months.

Underlying macroeconomic factors: The growing middle class in Thailand has contributed to the increasing demand for cold and cough remedies. As disposable incomes rise, more people are able to afford over-the-counter medications to alleviate their symptoms. Additionally, the country's aging population is also driving the demand for cold and cough remedies, as older individuals are more susceptible to respiratory illnesses. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Thailand is developing due to the growing preference for over-the-counter medications, the increasing demand for natural and herbal remedies, and the popularity of combination products. The country's tropical climate and underlying macroeconomic factors, such as the growing middle class and aging population, also contribute to the market's growth.

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.