The global cough syrup market is predicted a CAGR of 3.45% to reach a value of USD 5.139.63 million by 2026, as per a report by Market Research Future (MRFR). Cough syrups are medications used for temporary relief of cough, sneezing, or runny nose due to common cold, hay fever, or other upper respiratory allergies.
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The growing occurrence of respiratory disorders and rising air pollution are some of the key factors leading to the growth of the demand for cough syrup. Moreover, the increasing geriatric population, along with the active pharmaceutical industry, is driving market growth as older people are more vulnerable to respiratory disorders. Also, the industry is expected to see lucrative growth as a result of growing product innovations. Nevertheless, product recalls and the strict regulatory scenario impedes the growth of the share and size of the Cough Syrup market.
Cough Syrup Market dynamics
Increasing air pollution is catalyzing the growth of the market. Air pollution is a significant threat to the health of the population and is a contributing factor for both acute and chronic respiratory diseases. Tobacco smoke, indoor air pollution from burning fuels, and air emissions from traffic and industrial sources are listed as the key contributing factors to most respiratory conditions, according to a study by the Forum of International Respiratory Societies (FIRS). The World Health Organization (WHO) reported that indoor air pollution could account for 4.3 million deaths per year. Many diseases and fatalities that can be due to prolonged exposure to poor indoor air quality arise primarily in children and women, particularly in low-income families. Indoor smoke pollution used for heating and cooking results in COPD, lung cancer and causes pneumonia and asthma in children. A vast population that is affected by respiratory disorders due to air pollution is pushing the cough syrup market because it is a key medication used to treat these diseases.
Cough Syrup Market Segmentation
The global market for cough syrups has been segmented into product form, category, and application. Depending on the form of the product, the market was divided into combinations and individuals. The combination drug form was further identified as dextromethorphan + guaifenesin, guaifenesin + pseudoephedrine, and brompheniramine + pseudoephedrine. The particular form of the drug was further broken down into dextromethorphan, guaifenesin, ambroxol, and codeine. Based on the group, the market was segmented into cough suppressants and expectorants. And by usage, the demand for cough syrups was classified as adults and children.
Cough Syrup Market Regional Analysis
The region-based global demand for cough syrup market has been divided into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The Americas is expected to hold a maximum share of the global demand for cough syrup, and the regional demand is expected to record a CAGR of 3.16 percent over the forecast period. It is anticipated that the presence of significant market players in the region, strategic acquisitions by major players to improve product portfolio, growing cases of respiratory disorders and the availability of advanced medicines for the treatment of chronic obstructive pulmonary disease (COPD) will drive market growth in this region to effectively counter these concerns through the use of cough syrups.
Europe is the second-largest cough syrup market in the world, primarily due to the involvement of key players such as Novartis, GlaxoSmithKline, and Reckitt Benckiser Group PLC. The cough syrup market in Europe is projected to be driven by the growth of the pharmaceutical industry in Germany, France, and the United Kingdom.
Asia-Pacific is expected to be the fastest-growing region due to rapid growth in developing countries such as India and China. High prevalence of respiratory diseases due to tobacco smoke, at-home and occupational exposure to air pollutants, traffic emissions, and indoor air contamination from biological agents linked to humidity and mold further raise the risk of respiratory disease in children and adults in those countries.
The demand for cough syrups in the Middle East & Africa was segmented into two main areas, the Middle East and Africa. The region’s developed countries, such as the UAE and Saudi Arabia, are the ones with the highest market share of cough syrup. The growth in healthcare services, the rise in healthcare spending and the growth in disposable per capita income of people in these countries are some of the factors that contribute to a significant market share in these countries. Africa is the least developed country with insufficient healthcare services and human facilities.
Cough Syrup Market Key players
The leading players in the global market for cough syrup are
- Pfizer, Inc. (US)
- Novartis AG (Switzerland)
- Merck KGaA (US)
- Johnson & Johnson Services, Inc. (the US)
- GlaxoSmithKline PLC (UK)
- Acella Pharmaceuticals, LLC (US)
- Procter & Gamble (US)
- Reckitt Benckiser Group PLC (UK)
- Abbott (US)
- Sanofi (France)
Cough Syrup Industry news
Players operating in the global market for cough syrup are concentrating on product releases, along with increasing their global presence by reaching untapped markets.In February 2019, Merck invested USD 70 million to expand its research and development (R&D) facility in Billerica, Massachusetts, to produce new pharmaceutical pipeline products.In July 2018, Johnson & Johnson purchased Zarbee’s Naturals, a drug-free infant cough syrup. It has allowed the company to extend its product range globally.In December 2016, Pfizer, Inc. released a range of products as a line expansion under the brand name Corex. The first launch took place in December 2016 and subsequent launches in 2017. Such formulations have been properly licensed by central and state regulators.
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