Market Highlights
The Global Cough Syrup Market Share is estimated to be valued at USD 5,139.63 Million by 2026 and is projected to register a CAGR of 3.45% during the forecast period.
Cough syrups are a 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 trends contributing to the growth of the cough syrup market. Additionally, the growing geriatric population, along with the strong pharmaceutical sector, is 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 market.
Segment Analysis
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 sub-segmented into dextromethorphan + guaifenesin, guaifenesin + pseudoephedrine, brompheniramine + pseudoephedrine. The individual product type has been further divided into dextromethorphan, guaifenesin, ambroxol, and codeine. Based on the category, it has been classified as cough suppressants and expectorants. Based on application, the cough syrup market has been categorized as adults and children.
Market Players
Market Research Future (MRFR) recognizes 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) as the key players in the global cough syrup market.
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.
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 diseases 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 income 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 Findings of the Study:
- The global cough syrup market was valued at USD 3,920.87 million in 2018, is estimated to grow at USD 5,139.63 million by 2026 at a CAGR of 3.45% during the assessment period.
- The Americas is expected to hold a maximum share of the global cough syrup market. 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.
- Based on the category, the cough suppressants segment accounted for the largest market share of 61% in 2018.
- Based on application, the children segment dominated the market and projected to register the highest CAGR of 78% during the forecast period.
Access More Report Details @ https://www.marketresearchfuture.com/reports/cough-syrup-market-8217
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