Market Research Future (MRFR) has published a research report regarding the Global Throat Lozenges Market that anticipates hike for this market with 4.2% CAGR for this market between 2018 and 2023. In terms of cash, the market has been estimated to be worth the US $ 6000 Mn by the end of the forecast period.
The major factor driving the market growth for throat lozenges is cold and cough which is a common disease all over the world. Therefore, the demand for treatments and medications to cure it is always high. Other market drivers include the development of new ingredients, low-price of throat lozenges, and rapid product penetration in developing countries with rapid growth rate. However, the availability of alternative treatments and therapies can put breaks in the speed of market growth.
Global Throat Lozenges Market – Key Players
The key players in the Global Throat Lozenges Market include Bausch Health Companies Inc (Canada), Bliss GVS Pharma Ltd. (India), Doetsch Grether AG (Switzerland), Ernest Jackson (UK), Gepach International (India), GlaxoSmithKline (UK), Mondelēz International Group (USA), Pfizer Inc. (USA), Prestige Brands Inc (USA), Procter & Gamble (USA), Reckitt Benckiser Group PLC (UK), Ricola AG (Switzerland), Thornton & Ross (UK), and Wrigley Company (USA).
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Global Throat Lozenges Market – Segmentation
The Global Throat Lozenges Market has been segmented on the basis of indication, ingredient, type, and lastly, region. Based on the indication, this market has been segmented into a cough & cold, sore throat, and throat diseases. The ingredient-based segmentation segments the market into eucalyptus oil, honey & ginger, lemon, menthol, mint, peppermint oil, and others. By type, the market has been segmented into compressed lozenges, hard candy lozenges, and soft lozenges.
Global Throat Lozenges Market – Regional Segmentation
The regional segmentation of the Global Throat Lozenges Market segments the market into continent-based regional markets known as The Americas (North America & South America), Latin America, Asia Pacific, Europe, and Middle East & Africa (MEA). The biggest regional market is The Americas. North America, in particular, is likely to remain an important regional market during the forecast period because of sales of over-the-counter (OTC) medical products. The strongest economies in this region are the United States of America (USA) and Canada. Many key market players are based in the USA. North America has better and more advanced medical facilities that make it the bigger market. The American Red Cross is distributing wildfire kits to Carr Fire victims whose homes suffered damage. These wildfire kits include bags, buckets or tub, masks, sifters, a shovel, tarps, and personal care items that include eye drops, lip balm, and throat lozenges. Mexico also has the potential to be a significant market because, among Latin countries, it is one of the strongest economies. In South America, Argentina and Brazil have strong economies, and they might emerge as big markets in the future.
While The Americas is a collective market, Europe has emerged as the single largest regional market. The common cold is considerably prevalent in various parts of Europe, which drives the market in this region. Europe has a high density of population, and after North America, it has maximum technological advancement. Due to the reasons same as The Americas, Western Europe as a market is bigger than Eastern Europe. The strongest economies in Europe that have the potential to emerge as important markets include France, Germany, and the United Kingdom (UK).
As medical facilities in the Asia Pacific are not as advanced as they are in North America and Europe, the common cold is frequent here, and many people suffer from sneezing related problems due to dust allergies. Therefore, demand for its remedies that includes throat lozenges is always high in this region. The significant country-specific markets in this region are Australia, China, India, Japan, and South Korea, followed by the rest of Asia Pacific.
The MEA region shows limited market slow and steady growth. The reasons for the slow market growth in this region are lack of awareness, lack of education, lack of technological development, political instability, poor healthcare facilities, and healthcare not considered a priority by most governments.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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