PROSPECTS AND OPPORTUNITIES
Positive outlook for cough, cold and allergy remedies, supported by an improving economy
During the forecast period, the market for cough, cold, and allergy (hay fever) remedies in Nigeria is projected to experience an improved performance in constant value terms (2024 prices). This growth will be fuelled by Nigeria's expanding population and urbanisation, which will contribute to increased congestion and related health issues.
Growing child population will boost demand for paediatric cough/cold remedies
Medicated confectionery is set to remain the top performer over the forecast period, thanks to the affordability and widespread availability of these products While these offerings are not strictly categorised as OTC drugs and are primarily used for soothing throats and freshening breath, their low cost ensures continued consumer preference.
Local production is expected to increase in bid to moderate prices
The primary threat to forecast growth in the category is ongoing inflation, which will keep prices elevated and diminish consumers' purchasing power. To mitigate these challenges, companies are likely to concentrate on boosting local production and reducing manufacturing costs.
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Overview:
Understand the latest market trends and future growth opportunities for the Cough, Cold and Allergy (Hay Fever) Remedies industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Cough, Cold and Allergy (Hay Fever) Remedies industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Cough, Cold and Allergy (Hay Fever) Remedies in Nigeria report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Cough, Cold and Allergy (Hay Fever) Remedies in Nigeria?
- Which are the leading brands in Cough, Cold and Allergy (Hay Fever) Remedies in Nigeria?
- How are products distributed in Cough, Cold and Allergy (Hay Fever) Remedies in Nigeria?
- How has the regulatory and operating environment for Cough, Cold and Allergy (Hay Fever) Remedies changed in Nigeria?
- How are considerations such as stress, self-medication and shifting consumer lifestyles shaping demand for Cough, Cold and Allergy (Hay Fever) Remedies
- How significant are wider health concerns and consumer awareness in determining sales?
- Where is future growth expected to be most dynamic?
Cough, Cold and Allergy (Hay Fever) Remedies in Nigeria - Category analysis
KEY DATA FINDINGS
Inflationary pressures and rising prices impact consumer demand
Medicated confectionery and paediatric cough/cold remedies see strong performances
Local brands outperform their international competitors amid ongoing economic challenges
Positive outlook for cough, cold and allergy remedies, supported by an improving economy
Growing child population will boost demand for paediatric cough/cold remedies
Local production is expected to increase in bid to moderate prices
Consumer Health in Nigeria - Industry Overview
Consumer health in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer health?
OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches
DISCLAIMER
DEFINITIONS
The following categories and subcategories are included:
Cough, Cold and Allergy (Hay Fever) Remedies
- Antihistamines/Allergy Remedies (Systemic)
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- Paediatric Allergy Remedies
- Paediatric Cough/Cold Remedies
- Combination Products - Cough, Cold and Allergy (Hay Fever) Remedies
- Cough Remedies
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- Nasal Sprays
- Oral Decongestants
- Inhalant Decongestants
- Decongestant Rubs
- Nasal Decongestant Drops
- Nasal Decongestant Plasters
- Medicated Confectionery
- Pharyngeal Preparations
Cough, Cold and Allergy (Hay Fever) Remedies
This is the aggregation of decongestants, cough remedies, pharyngeal preparations, medicated confectionery, combination products, antihistamines and paediatric cough, cold and allergy remedies.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Cough, Cold and Allergy (Hay Fever) Remedies research and analysis database.
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