The global cough syrup market was valued at $5,232.73 million in 2019, and is projected to reach $6,108.25 million by 2027, registering a CAGR of 2.8% from 2020 to 2027. The growth of the global cough syrup market is majorly driven by rise in respiratory disorders. In addition, increase in geriatric population and immense air pollution further drive the growth of the market. However, misuse of cough syrup and stringent regulatory framework hinder the market growth. Conversely, high market potential in untapped emerging economies is expected to provide lucrative growth opportunities for the market growth.
Cough is one of the most common symptoms for which patients seek medical attention from primary care physicians and pulmonologists. Cough is an important defensive reflex that enhances the clearance of secretions and particles from the airways and protects the lower airways from foreign materials. Therapeutic suppression of cough may be either disease-specific or symptom related. The potential benefits of an early treatment of cough could include the prevention of the vicious cycle of cough.
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The cough syrup market is segmented on the basis of product type, age group, distribution channel, and region. By product, the market is divided into expectorants, cough suppressants/antitussives, and combination medications. On the basis of age group, the cough syrup market is bifurcated into pediatric and adult. By distribution channel, the market is segmented into retail pharmacy, hospital pharmacy, and online pharmacy. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS FOR STAKEHOLDERS
? This report entails a detailed quantitative analysis along with the current global cough syrup market trends from 2020 to 2027 to identify the prevailing opportunities along with the strategic assessment.
? The market forecast is studied from 2020 to 2027.
? The market size and estimations are based on a comprehensive analysis of key developments in the industry.
? A qualitative analysis based on innovative products facilitates strategic business planning.
? The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the global cough syrup market.
KEY MARKET PLAYERS
– Novartis AG, Pfizer, Inc.
– Merck KGaA
– GlaxoSmithKline PLC
– Johnson & Johnson Services, Inc.
– Acella Pharmaceuticals, LLC
– Reckitt Benckiser Group PLC
– Sanofi
– Procter & Gamble
– Abbott Laboratories
KEY MARKET SEGMENTS
By Product Type
– Expectorants
– Cough Suppressants/Antitussives
– Combination Medications
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By Age Group
– Pediatric
– Adult
By Distribution Channel
– Retail Pharmacy
– Hospital Pharmacy
– Online Pharmacy
By Region
– North America
o U.S.
o Canada
o Mexico
– Europe
o UK
o France
o Germany
o Spain
o Italy
o Rest of Europe
– Asia-Pacific
o Japan
o China
o India
o Australia
o Rest of Asia-Pacific
– LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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