Cough Syrup Market Highlights
Market Research Future (MRFR) analysed the global cough syrup market 2020 across the review period 2018 to 2026. By 2026, the cough syrup market value can be worth USD 5,139.63 Mn by 2026 from USD 3,920.87 Mn in 2018. The cough syrup market can rise at 3.45% CAGR by 2023. COVID 19 impact assessment for the cough syrups market is offered in the report. The rise in sale of cough syrup in the pandemic is identified as one of the prime factor that can promote the market. In addition, the rise in cases of upper respiratory tract allergies can bolster the expansion of the cough syrup market in the years to come.
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The increase in cases of respiratory disorders due to air pollution, growing geriatric population, Smoking tobacco, rapidly expanding pharmaceutical sector, and rise in product development are other cause that can favor the cough syrup market in the years to come. The stringent regulatory scenario for new drug approval can hinder the cough syrup market rise.
Cough Syrup Market Segment Analysis
The segment assessment of the global cough syrup market are category, product type, and application.
The product type-based segments of the cough syrup market are individuals and combination. The combination product type sub-segments are guaifenesin + pseudoephedrine, dextromethorphan + guaifenesin, and brompheniramine + pseudoephedrine. The individual product type sub-segments are guaifenesin, dextromethorphan, codeine, and ambroxol.
The application-based segments of the cough syrup market are adults and children. The children segment can expand at 78% CAGR in the forecast period. The adult segment can win high profits for the cough syrup market.
The category based segment of the cough syrup are expectorants and cough suppressants. The cough suppressants segment can rise at 61% CAGR in by 2026. The availability of cough expectorant in new formulations can bolster the market rise through the review period.
Cough Syrup Market Regional Analysis
North America is expected to secure substantial portion of the world cough syrup market. As per the regional market analysis by MRFR, the cough syrup market in North America is likely to register 3.16% CAGR in the forecast period. The presence of significant market players and their strategic acquisitions plans to boost product portfolio can improve the regional market growth dynamics. In addition, the rise in cases of respiratory disorders, such as COPD, and the easy availability of advanced therapeutics to treat can drive the regional cough syrup market.
In Europe, the cough syrup market can thrive as multiple key players, such as GlaxoSmithKline, Novartis, and Reckitt Benckiser Group PLC exist in the region. The increase in adoption of modern manufacturing technologies can favor the cough syrup market in Europe. The UK can lead the regional market as the pharmaceutical industry in the region is noted to surge.
In Asia Pacific region, the growing demand for effective medications for respiratory disorders can boost the expansion of the regional market. Extensive research and development are taking place in reputed medical institution of the region for the formulation of powerful respiratory therapeutic components. The constant effort in taken by India and other APAC countries to develop vaccine is expected to positively impact APAC market.
Cough Syrup Market Key Players
Pfizer, Inc. (US), Abbott (US), Merck KGaA (US), Novartis AG (Switzerland), Reckitt Benckiser Group PLC (UK), Johnson & Johnson Services, Inc. (US), Acella Pharmaceuticals, LLC (US), GlaxoSmithKline PLC (UK), Procter & Gamble (US), and Sanofi (France)are some prominent names companies in the global cough syrup market that are profiled by MRFR.
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