Lozenges are solid medicated confections that dissolve in the mouth, intended to treat infection of mouth or pharynx. Lozenges are made up of analgesics like Ketamine, paracetamol, codeine; antifungal like ketoconazole, amphoterisin B, miconazole; anesthetics like benzocaine; antimicrobials like artesunate and their composition vary from company to company. According to a research report published by Market Research Future (MRFR), the Global Throat Lozenges Market is set to capture a CAGR of 3.5 % during the forecast period 2017-2023.
They are used to get temporary relief from coughs, throat soreness and might also be prescribed to patients suffering from pharyngitis. They are available over the counter or may be prescribed by a physician. The affordability and reliability of throat lozenges are of the driving factors for market growth.
Every year 10-15% of the world’s population suffers from common cold, says WHO. Increase in global geriatric population and increasing prevalence of allergy and common cold are common drivers of the market. The global air pollution levels are reaching epidemic proportions which are one of the causes of respiratory infections, mainly throat infections. Additionally, a gradual increase in smoking across the globe is another cause of throat irritation. The market is also driven by unemployed and less developed economies where self-diagnosis and medication practices are quite common.
The Lozenges Market is a subset of the throat remedies market so growth in throat remedies market will result in a growth of the throat lozenges market.
Global Throat Lozenges Market – Key Players
Bausch Health Companies Inc, Procter & Gamble, Prestige Brands Inc, Wrigley Company, Reckitt Benkiser Group plc, Gepach International, Bliss GVS Pharma Ltd, Thornton & Ross, Ricola AG, Ernest Jackson, Mondelēz International group, GlaxoSmithKline, Pfizer Inc., Doestsch Grether AG are some of the leading companies profiled in MRFR’s report.
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Global Throat Lozenges Market – Segmental Analysis
MRFR reports that the Global Throat Lozenges Market is segmented on the basis of ingredients, usage, and application.
The types of ingredients are menthol throat lozenges and non-menthol throat lozenges. Menthol throat lozenges are sub-segmented into eucalyptus oil, mint, peppermint oil, and others. Eucalyptus oil is quite popular for treating throat infection due to their easy accessibility as over-the-counter cough and cold products. Furthermore, owing to their health benefits such as ability to stimulate immunity, improve respiratory circulation and provide antioxidant protection, the market for eucalyptus oil for throat infection is booming immensely. On the other hand, non-menthol throat lozenges are sub-segmented into zinc gluconate glycine, pectin, and other.
By usage, the market is segmented on the basis of pharmaceutical lozenges, antibacterial lozenges, and others. Pharmaceutical lozenges are in high demand as they produce a feeling of numbness in the throat and reduce pain and swelling. Hence, it is highly favorable among patients who need temporary and instant relief. By applications, the market is segmented on the basis of cough and cold, throat soreness, throat diseases and other.
Industry Development
Ricola Asia Pacific and JacobAmanda collaborated to launch Ricola’s annual national consumer campaign titled “Soothe your way into 2018″. This is in a bid to increase sales for Ricola’s herbal candy and lozenges. Since its launch, the campaign has led to Ricola’s brand affinity with young millennial consumers and boosted sales for Ricola lozenges.
CR Pharma, the leading drug dealer of China and a manufacturer of throat lozenges, has confirmed that it is planning to acquire controlling stake in Jiangzhong, its rival company. The cooperation is a strategic step towards promoting development.
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Global Throat Lozenges Market – Regional Analysis
The report also includes a regional analysis of the market that covers Europe, North America, Asia Pacific (APAC), South America and the Middle East & Africa (MEA). Currently, North America and South America collectively account for the largest market share. In 2017, the Americas accounted for more than 31% share of the market. North America in particular is expected to remain an important market for throat lozenges during the review period. Sales of OTC medial products including throat lozenges will continue to grow in the region in the years to come. Meanwhile, Europe has emerged as the single largest market for throat lozenges. Prevalence of common cold is considerably high in various parts of Europe, which acts as favorable element for the region’s throat lozenges market.
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