Cough Syrup Market 2021
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.
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.
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Major Key Players:
Market Research Future (MRFR) recognizes Pfizer, Inc. (US), Novartis AG (Switzerland), Merck KGaA (US), Johnson & Johnson Services, Inc. (US), GlaxoSmithKline PLC (UK), Acella Pharmaceuticals, LLC (US), Procter & Gamble (US), Reckitt Benckiser Group PLC (UK), Abbott (US), and Sanofi (France) as the key players in the global 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 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.
Regional Analysis
The global cough syrup market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to hold a maximum share of the global cough syrup market, and the regional market is projected to register a CAGR of 3.16% during the forecast period. The presence of significant market players in the region, strategic acquisitions by major players to enhance product portfolio, increasing cases of respiratory disorders, and availability of advanced medications for the treatment of chronic obstructive pulmonary disease (COPD) is expected to drive the market growth in this region.
Europe accounts for the second-largest, in the global cough syrup market, majorly due to the presence of key players such as Novartis, GlaxoSmithKline, and Reckitt Benckiser Group PLC. The cough syrup market in Europe is expected to be driven by the growth of the pharmaceutical industry in Germany, France, and the UK.
Asia-Pacific is estimated to be the fastest-growing market due to the continuous development in developing countries such as India and China. High prevalence of respiratory diseases due to tobacco smoke, exposure to air pollutants at home and the workplace, vehicular pollution, and indoor air pollution from biological agents related to damp and mold further increase the risk of respiratory disease in children and adults in these countries.
The Middle East & Africa cough syrup market has been segmented into major two regions, the Middle East and Africa. The developed countries in the region, such as the UAE and Saudi Arabia, are the ones with the maximum share of the cough syrup market. The advancing healthcare infrastructure, increasing healthcare expenditure, and increasing per capita disposable income of the people in these countries are some reasons leading to the large share of the market in these countries. Africa is the least developed region with limited healthcare resources and facilities for the people. The low growth rate due to less developed and less efficient health systems is hampering the growth of the market.
Key Findings of the Study:
- The global cough syrup market was valued at USD 3,920.87 million in 2018, is estimated to grow at USD 5,139.63 million by 2026 at a CAGR of 3.45% during the assessment period.
- The Americas is expected to hold a maximum share of the global cough syrup market. The presence of significant market players in the region, strategic acquisitions by major players to enhance product portfolio, increasing cases of respiratory disorders, and availability of advanced medications for the treatment of chronic obstructive pulmonary disease (COPD) is expected to drive the market growth in this region.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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