Global Cough Syrup Market:
Information by Product Type (Combination {Dextromethorphan + Guaifenesin,
Guaifenesin + Pseudoephedrine and Brompheniramine + Pseudoephedrine} and
Individual {Dextromethorphan, Guaifenesin, Ambroxol and Codeine}), by Category
(Cough Suppressants and Expectorants), by Application (Adults and Children) and
by Region ( Americas, Europe, Asia-Pacific, Middle East & Africa) -
Forecast till 2026
Market Scenario:
The Global Cough Syrup Market is
expected to register a CAGR of 3.45% to reach USD 5,139.63 million
by 2026. Cough syrups are the medication used for the temporary relief
of coughs, sneezing, or runny noses due to the common cold, hay fever, or other
upper respiratory allergies.
The increasing incidence of respiratory
disorders along with the rising air pollution are some of the key factors
contributing to the growth of the cough syrup market. Additionally, the growing
geriatric population, along with an active pharmaceutical sector, are
boosting market growth as aged people are more prone to respiratory disorders.
Furthermore, the market is expected to witness lucrative growth due to
increasing product developments.
However, product recalls, and the
stringent regulatory scenario are hampering the growth of the Cough
Syrupmarket size.
Market Dynamics
Rising air pollution is acting as a
driver for the growth of the market. Air pollution is a major
environment-related health threat that stands as a risk factor for both acute
and chronic respiratory diseases. According to a report by the Forum of International
Respiratory Societies (FIRS), tobacco smoke, indoor air pollution from burning
fuels, and air pollution from traffic and industrial sources are highlighted as
the primary contributing factors for most respiratory conditions. World Health
Organization (WHO) estimated that 4.3 million deaths per year could be
attributed to indoor air pollution. Most diseases and deaths that can be
attributed to prolonged exposure to poor indoor air quality occurs primarily in
women and children, especially in low-income families. Exposure to indoor smoke
used for heating and cooking leads to COPD, lung cancer, and, in children, it
causes pneumonia and asthma. This large population affected with respiratory
disorders due to air pollution is driving the market for cough syrup market as
it is a crucial medicine used for the treatment of such diseases.
Segmentation
The global cough syrup market has been
segmented into product type, category, and application. Based on
product type, the market has been segregated into combination and individuals.
Combination product type has been further classified as dextromethorphan +
guaifenesin, guaifenesin + pseudoephedrine, and brompheniramine +
pseudoephedrine. The individual product type has been further divided into
dextromethorphan, guaifenesin, ambroxol, and codeine. Based on the
category, the market has been segmented into cough suppressants and
expectorants. And by application, the cough syrup market has been categorized
as adults and children.
Regional Analysis
The global cough syrup market, based on
region, has been divided into the Americas, Europe, Asia-Pacific, and the
Middle East & Africa. The Americas is expected to hold a maximum share of
the global cough syrup market, and the regional market is projected to register
a CAGR of 3.16% during the forecast period. The presence of
significant market players in the region, strategic acquisitions by major
players to enhance product portfolio, increasing cases of respiratory
disorders, and availability of advanced medications for the treatment of
chronic obstructive pulmonary disease (COPD) is expected to drive the market
growth in this region to combat these concerns effectively through the use of
cough syrups.
Europe accounts for the second-largest,
in the global cough syrup market, majorly due to the presence of key players
such as Novartis, GlaxoSmithKline, and Reckitt Benckiser Group PLC. The cough
syrup market in Europe is expected to be driven by the growth of the
pharmaceutical industry in Germany, France, and the UK.
Asia-Pacific is estimated to be the
fastest-growing market due to the continuous development in developing
countries such as India and China. High prevalence of respiratory disorders due
to tobacco smoke, exposure to air pollutants at home and the workplace, vehicular
pollution, and indoor air pollution from biological agents related to damp and
mold further increase the risk of respiratory disease in children and adults in
these countries.
The Middle East & Africa cough syrup
market has been segmented into major two regions, the Middle East and
Africa. The developed countries in the region, such as the UAE and Saudi
Arabia, are the ones with the maximum share of the cough syrup market. The
advancing healthcare infrastructure, increasing healthcare expenditure, and increasing
per capita disposable incomes of the people in these countries are some reasons
leading to the large share of the market in these countries. Africa is the
least developed region with limited healthcare resources and facilities for the
people. The low growth rate due to less developed and less efficient
health systems is hampering the growth of the market.
Key Players
The prominent players in the global cough
syrup market are Pfizer, Inc. (US), Novartis AG (Switzerland),
Merck KGaA (US), Johnson & Johnson Services, Inc. (US), GlaxoSmithKline PLC
(UK), Acella Pharmaceuticals, LLC (US), Procter & Gamble (US), Reckitt
Benckiser Group PLC (UK), Abbott (US), and Sanofi (France).
The players operating in the global cough
syrup market are focusing on product launches, along with expanding their
global footprints by entering untapped markets.
- In February 2019, Merck invested USD 70
million to expand its research & development (R&D) facility in
Billerica, Massachusetts for the development of innovative clinical
pipeline products.
- In July 2018, Johnson & Johnson acquired Zarbee's
Naturals, a drug-free children's cough syrup. This enabled the company to
broaden its product portfolio globally.
- In December 2016, Pfizer, Inc., launched a
series of products as a line extension under the Corex brand name. The
first launch was on December 2016, and subsequent launches were conducted
in 2017. These formulations were duly approved by central and state
regulators.
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