The global cough syrup market size was valued at US$ 5,923.49 million in 2020 and is projected to reach US$ 6,825.36 million by 2028, registering a CAGR of 3.4% from 2021 to 2028.
Cough syrup is a drug used to relieve coughs, common colds, and other respiratory allergies. They are available in liquid forms. Cough syrups commercially available in the market are mucokinetics, expectorants, and decongestants.
The growing prevalence of coughs and respiratory disease around the globe is predominantly fueling the market growth of cough syrup. According to the World Health Organization, there were around 251 million cases of COPD globally in 2016. More than 90% of COPD deaths occur in low and middle-income countries. An increasing number of smokers is also increasing the prevalence of respiratory problems which is again anticipated to augment the demand for cough syrup. Continuous product innovation by major players such as cough syrup for regional as well as global presence is further projected to bolster the market growth of cough syrup. Moreover, growing investment by the government in the healthcare sector to develop the infrastructure and improve the facilities is also expected to fuel the market growth of cough syrup.
Request for Sample Copy of Report with Analysis of COVID-19 Impact on Cough Syrup Market – https://www.stratagemmarketinsights.com/sample/26350
Besides, growing online pharmacy retails are estimated to have a positive impact on the market of cough syrup. According to ETRetail.com, e-pharma presents a market size of $9.3 billion as of 2019 and is estimated to grow at a CAGR of 18.1% to reach $18.1billion by 2023.
Cough Syrup Market – Regional Analysis
The Asia Pacific is expected to exhibit significant growth over the forecast period and this is attributed to the high presence of pollution due to growing vehicular pollution coupled with the increasing risk of respiratory disease. Moreover, an increasing number of players and growth in the pharmaceutical industry in the region. According to the India Brand Equity Foundation, the Indian pharmaceutical sector is expected to grow to US$ 100 billion, and the medical device market is expected to grow US$ 25 billion by 2025.
Cough Syrup Market – Key Developments:
- In April 2019, Stada Arzneimittel AG has signed a partnership agreement with a unit of Shijiazhuang Yiling Pharmaceutical Co. to sell its cough and cold syrups in China.
- In July 2019, the Philippine Competition Commission (PCC) has allowed global medicine giants GlaxoSmithKline (GSK) and Pfizer to combine the operations of their over-the-counter drugs in the country. In December 2018, British firm GSK Consumer Healthcare merged its over-the-counter business with Pfizer.
- In February 2020, Square Pharmaceuticals Ltd has announced to set up a subsidiary by investing Tk350 crore to extend its foothold in the medicine market and to meet the growing demand for its products.
Reasons to Purchase this Report:
- The trendy developments, market shares, and strategies that are employed by means of the essential market players
- The segment that is anticipated to dominate the market as properly as the segment which holds the highest CAGR in the forecast period
- Current and future of global Cough Syrup market outlook in the developed and rising markets
- Regions/countries that are anticipated to witness the quickest growth rates at some stage in the forecast period
Buy Now This Premium Report to Grow your Business: https://www.stratagemmarketinsights.com/cart/26350
Cough Syrup Market – Competitor Analysis
Key players in the cough syrup market are;
- 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)
- Sanofi (France)
Cough Syrup Market Segmentation:
By Product Type, the market is primarily segmented into:
- Cough Suppressants
By Applications, the market is segmented into:
Inquire to Know More About This Report @ https://www.stratagemmarketinsights.com/quiry/26350
Stratagem Market Insights is a management consulting organization providing market intelligence and consulting services worldwide. We bring the expertise of consultants with a cumulative industry experience of more than 70 years. The firm has been providing quantified B2B research and currently offers services to over 350+ customers worldwide.
We strive to offer a sapient solution, expert consultations, and tailored/customized solutions. Our team includes analysts that leverage their years of experience and expertise to create accurate and error-free reports. The domain-specific teams are constantly focused on tracking markets, aiding our clients to gain a competitive edge through high-quality market intelligence. We offer an array of services including, syndicated research, advisory and consulting research process outsourcing, and content management.
Stratagem Market Insights
1001 4th Ave, #3200 Seattle, WA 98154
Phone: US +12067016702 / UK +4402081334027 / JAPAN +815055391737