Cough, cold, and allergy remedies market was valued at USD 32420.1 million in 2018 and it is expected to grow with a CAGR of 4.57% over the forecast period of 2019-2025.
Infinium Global Research Analysts
Global Cough, Cold, and Allergy Remedies Market: Consumer Behavior Analysis by Countries, Buying Pattern Analysis, Demographics, Trends Analysis, Survey Findings and Results, Leading Companies and their Market Strategies
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Published : May, 2020
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Rep Id : GCCARM1352020
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No. of Pages : 185
Infinium Global Research and
Consulting Solutions has published a comprehensive research study based on a
survey conducted to analyze the buying patterns, consumer behavior, and impact
of pricing on buying decisions. The report also provides insights into the marketing
strategies and steps taken by the companies to retain their market position in
the local as well as global market. The study also provides insights into the
factors affecting the buying decisions, consumer preferences, and the
demographic factors promoting the growth of the products of the global cough, cold, and allergy remedies market.
Almost everyone in the world suffers
from cough, cold, and allergy remedies at
least once a year. Many people in the world have some type of allergy. These
are the common ailments, which most of the time have milder symptoms and do not
last for more than a week or 10 days. Most of these common ailments are curable
and the symptoms can be soothed with various remedies. Cough, cold, and allergy
remedies are mostly OTC medical products, which are easily available in
most of the pharmaceutical stores. These remedies are available in various
forms including tablets, pills, cough syrups, inhalers, balms, and vaporizers.
There are different types of cough, cold, and allergy remedies available in the
market including antihistamines, expectorants, bronchodilators, decongestants,
antibiotics and others.
Wider Availability of OTC Remedies Augments
the Growth of the Global Cough, Cold, and Allergy Remedies Market
According to Infinium Global Research
and Consulting Solutions, the global cough,
cold, and allergy remedies market was valued at USD 32420.1 million in
2018 and it is expected to grow with a CAGR of 4.57% over the forecast period
of 2019-2025. The growth of the market is driven by the higher availability of a wide range of products. The key players in the market offer a broad variety of
OTC cough, cold, and allergy remedies to the consumers. The wide range of products provides a large number of options for the consumer to choose. The
consumers can buy a product which suits their requirement, which ultimately
leads to the higher sale of these remedies. Moreover, the number of pharmaceutical
stores and the number of OTC products available in the stores are increasing. These
growing numbers make the cough, cold, and allergy remedies easily accessible
to the consumers. This, in turn, increases the demand for cough, cold, and
allergy remedies.
The survey conducted by Infinium
Global Research and Consulting Solutions found most of the people across the
world consume cough, cold, and allergy
remedies at least once in a day. While a considerable part of the population
consumes cough, cold, and allergy
remedies twice a day. The higher consumption of the cough, cold, and allergy remedies is
largely due to the growing awareness regarding the cough, cold, and allergy
remedies and their benefits to the health. Consumption of cough, cold, and
allergy remedies increases immunity and helps in maintaining fitness. Better
immunity and fitness helps to keep several diseases and disorders at bay.
Moreover, the availability of a number of OTC cough, cold, and allergy remedies in
the market makes them more accessible to the consumers. Thus people can easily
buy cough, cold, and allergy remedies from the nearest pharmacy or retail
stores. This, in turn, leads to more consumption of cough, cold, and allergy
remedies.
Figure 1 Buying Frequency of Cough, Cold, and Allergy Remedies Market in the US
Source: Infinium Global
Research Analysis
The United States, China and Germany
among top markets for Cough, Cold, and Allergy remedies
According to the findings in the
report, countries in the United States, China, and Germany are some of the best
markets for cough, cold, and allergy remedies. North America and the Asia Pacific together
make about 60% of the total sales of cough, cold, and allergy remedies in the
world. The US is the leading country in terms of sales in the global cough, cold, and allergy remedies market
followed by China and Germany. Greater awareness regarding the cough, cold, and
allergy remedies and their health benefits coupled with a higher willingness to
spend on medication are the major drivers for the sale of cough, cold, and
allergy remedies in these countries. On the other side, the sale of cough, cold, and allergy remedies in
developing countries such as India is anticipated to grow rapidly. Factors including
improving economic conditions and higher awareness of the products are majorly
influencing the sale of cough, cold,
and allergy remedies in developing countries.
Figure 2 Top Countries in the Global Cough, Cold, and Allergy Remedies Market in 2018 (Revenue % Share)
Source: Infinium Global Research Analysis
North America Generated Highest
Revenue from Cough, Cold, and Allergy Remedies Market
In terms of geography, North America
generated the highest revenue in the global cough, cold, and allergy remedies market. Higher awareness
regarding nutritious diet and preventive healthcare is the major driver for the
growth of the market in North America. Furthermore, the higher geriatric population
and strong distribution channels are augmenting the growth of the market.
Additionally, the presence of major players in the market such as P&G and Johnson
& Johnson is propelling the North American market. Moreover, Asia
Pacific region is projected to grow with the fastest rate owing to the growing
awareness about cough, cold, and
allergy remedies and improving healthcare and economic conditions in the
region.
Research Methodology
Primary Research
Our primary research involves
extensive interviews and analysis of the opinions provided by the primary
respondents. The primary research starts with identifying and approaching the
primary respondents, the primary respondents are approached through
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Key Opinion Leaders associated with Infinium
Global Research
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Internal and External subject matter experts
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Professionals and participants from LinkedIn,
Hoovers, Factiva, and Bloggers
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Our primary research respondents typically
include
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Executives working with leading companies in
the market under review
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Product/brand/marketing managers
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CXO level executives
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Regional/zonal/ country managers
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Vice President level executives.
Methods
of Primary Research
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Computer-assisted telephone interview (CATI)
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Computer-assisted personal interview (CAPI)
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Computer-assisted web interview (CAWI)
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Questionnaires/Surveys
Secondary
Research
Secondary research involves extensive
exploring through the secondary sources of information available in both public
domain and paid sources. At Infinium Global Research, each research study is
based on over 500 hours of secondary research accompanied by primary research.
The information obtained through the secondary sources is validated through the
crosscheck on various data sources. The secondary sources of the data typically
include
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Company reports and publications
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Government/institutional publications
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Trade and associations’ journals
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Databases such as WTO (World Trade
Organization), OECD (The Organization for Economic Co-operation and Development),
Hoovers, Factiva, and the World Bank, among others.
·
Websites and publications by research agencies
