The global outbreak of the novel Coronavirus, also referred to as COVID-19, has had a significant global impact, with the resulting symptoms such as dry cough, fever and respiratory difficulties having a significant impact on the Cough, Cold and Flu Remedies market. The pandemic has boosted this category, globally and in South Africa, as consumers engage in panic buying in an attempt to be better prepared in case of infection, thereby driving sales and growth of the Cough, Cold and Flu Remedies market.
Insight Survey’s latest SA Cough, Cold and Flu Remedies Industry Landscape Report 2020 uncovers the global and local Cough, Cold and Flu Remedies market based on the latest information and research. It describes the relevant global and local market trends, innovation and technology, drivers and challenges and presents an objective insight into the South African Cough, Cold and Flu Remedies industry environment, market dynamics, and its future.
In 2019, the global Cough, Cold and Allergy (Hay Fever) Remedies market reached a total value of approximately US$40.2 billion in terms of retail sales, as illustrated in the graph below. Regionally, Asia-Pacific represented the largest market in the global Cough, Cold and Allergy (Hay Fever) market, reaching a value of approximately US$11.8 billion in 2019. This was followed by North America and Western Europe, which was valued at approximately US$10.7 billion and US$7.2 billion, respectively.
Source: Euromonitor. Graphics by Insight Survey
In South Africa, the Cough, Cold and Flu Remedies market increased by 5.2% from 2018 to 2019. Growth in this market has been largely supported by significant growth in the Cough Remedies category, which experienced a CAGR of 7.5% between 2014 and 2019. The Cough, Cold and Allergy (Hay Fever) Remedies market is projected to increase at a CAGR of 4.7% during the 2020 to 2024 forecast period.
The annual flu season as well as the current global Coronavirus outbreak are two of the most significant factors that are predicted to affect the South African market in 2020. The market had been positively impacted by an extended 2018/2019 lasting 21 weeks, the longest in a decade, while the 2019/2020 influenza season is predicted to be more severe due to the expected prominence of the Influenza B virus in the coming season. In particular, the Influenza B virus poses a particular threat of infection to children.
In addition to the approaching influenza season, the global outbreak of the Coronavirus is further driving sales of Cough, Cold and Flu Remedies. In South Africa specifically, the rate of Coronavirus infections are increasing daily, resulting in significantly increased demand for Cough, Cold and Flu Remedies. Consumers are panic buying these types of products in an attempt to prepare for the virus, including over-the-counter (OTC) products. Immediate demand for these products is being further driven by the ban on the export of 26 pharmaceutical ingredients from India, the world’s largest supplier of generic medicines, with fears that this could result in product shortages.
In response to the increased demand for these products, some manufacturers are increasing their production to keep up with demand. An example of this is Aspen Pharmacare who are redirecting resources to ensure that there are sufficient quantities of general medications, as well as Cough, Cold and Flu Remedies, for consumers to purchase. As an illustration of this phenomenon Aspen Group’s CEO, Stephen Saad indicated that some daily medicine orders were equivalent to 20% of monthly orders.
Predictions of extended and severe approaching influenza seasons as well as the continued spread of the Coronavirus are two of several key factors likely to contribute to the growth of the Cough, Cold and Flu Remedies.
The South African Cough, Cold and Flu Remedies Industry Landscape Report 2020 (101 pages) provides a dynamic synthesis of industry research, examining the local and global Cough, Cold and Flu Remedies industry from a uniquely holistic perspective, with detailed insights into the entire value chain – from manufacturing to competitor analysis, retailing, to pricing and purchasing trends.
Some key questions the report will help you to answer:
- What are the current market dynamics of the Global Cough, Cold and Flu Remedies industry?
- What are the key global and South African Cough, Cold and Flu Remedies industry trends, innovation and technology, drivers, and challenges?
- What are the market value and volume trends in the SA Cough, Cold and Flu Remedies market (2014-2019) and forecasts (2020-2024)?
- Who are the key manufacturers, distributors and retail players in the SA Cough, Cold and Flu Remedies industry?
- What are the prices of popular Cough, Cold and Flu Remedy brands and products at retail outlets and pharmacies?
Please note that the 101-page report is available for purchase for R27, 500.00 (excl. VAT). Alternatively, individual sections can be purchased for R12, 500.00 (excl. VAT). For additional information simply contact us at email@example.com or directly on (021) 045-0202 or (010) 140- 5756.
For a full brochure please go to: South African Cough, Cold and Flu Remedies Industry Landscape Report 2020
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