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

NEW YORK, July 8, 2020 /PRNewswire/ --

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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 the report, 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 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

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)

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
• Key Opinion Leaders associated
• Internal and External subject matter experts
• Professionals and participants from LinkedIn, Hoovers, Factiva, and Bloggers
• Our primary research respondents typically include
• Executives working with leading companies in the market under review
• Product/brand/marketing managers
• CXO level executives
• Regional/zonal/ country managers
• Vice President level executives.

Methods of Primary Research
• Computer-assisted telephone interview (CATI)
• Computer-assisted personal interview (CAPI)
• Computer-assisted web interview (CAWI)
• Questionnaires/Surveys

Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both public domain and paid sources. 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
• Company reports and publications
• Government/institutional publications
• Trade and associations' journals
• 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

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