PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1437513
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1437513
Cough Remedies Market size was valued at USD 8,910.45 Million in 2023, expanding at a CAGR of 5.3% from 2024 to 2032.
The body uses the cough reflex as an immunological reaction to fight off antigens or any foreign objects that enter the respiratory system and cause injury. This, if it continues, might cause total lung congestion. Asthma, gastroesophageal reflux disease (GERD), postnasal drip, and tobacco use are the most prevalent causes of cough. If untreated, several illnesses have the potential to result in persistent cough. The main warning signs and symptoms include stuffy or runny nose, sore throat, frequent throat clearing, hoarseness, wheezing, and shortness of breath. Additional reasons for coughing include lung cancer, idiopathic pulmonary fibrosis, pneumonia, bronchiectasis, nonasthmatic eosinophilic bronchitis, bronchiolitis, and chronic obstructive pulmonary disease (COPD).
Cough Remedies Market- Market Dynamics
Growing cough diseases to propel market demand
Cough is a prevalent illness that affects millions of people globally. The World Health Organization reports that 151,074 cases of pertussis were reported worldwide in 2018. Whooping cough, or pertussis, is a prevalent endemic illness in the US. As a result, the worldwide market has a bright future due to the rising illness burden. However, additional research indicates that several other variables, including smoking, asthma, living in a humid and hot climate, and the possibility of bacterial or viral infections, may also raise the chance of getting a cough. Thus, this is expected to drive the market growth over the forecast period.
Cough Remedies Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.3% over the forecast period (2024-2032)
Based on product type segmentation, the Antibiotics category dominates the market
Based on the age group segmentation, the Pediatric segment held the largest market share in 2023
Based on distribution channel segmentation, the online pharmacy segment is expected to grow at the highest CAGR during the forecast period
Based on region, North America was the leading revenue generator in 2023
The Global Cough Remedies Market is segmented based on Product Type, Age Group, Distribution Channel, and Region.
The market is divided into five categories based on product type: Decongestants, Antihistamines, Bronchodilators, Expectorants and Antibiotics. The Antibiotics category dominates the market. Antibiotics are prescribed when bacterial infections are suspected or confirmed. Respiratory conditions like bacterial pneumonia might lead to a persistent cough, and in such cases, antibiotics could be part of the treatment plan.
The market is divided into two categories based on the age group: Pediatric and Adult. The Pediatric segment held the largest market share in 2023 and is expected to continue the same pattern during the forecast period. The pediatric cough remedies market involves products specifically formulated and approved for children. These may include over-the-counter (OTC) medications, cough syrups, lozenges, and other formulations designed to address cough symptoms in children.
The market is divided into three categories based on distribution channel: Hospital Pharmacy, Retail Pharmacy and Online Pharmacy. The online pharmacy segment is expected to grow at the highest CAGR during the forecast period. The segment growth is attributed to factors such as convenience, accessibility, and a growing preference for digital health solutions.
Cough Remedies Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to lead the Cough Remedies market during the forecast period. It is projected that a sizable patient base and the existence of well-known manufacturers would support market expansion in this area even further. Since more individuals in the area are worried about the potential health effects of a persistent cough, the use of treatments is growing quickly. During the projection, Asia-Pacific is anticipated to have the quickest CAGR. The Asia Pacific area is being driven by several major variables, including the rapidly expanding healthcare spending, the improving healthcare infrastructure, the rising elderly population, and the rising prevalence of respiratory disorders.
The key players operating in the market are Reckitt Benckiser Group PLC, Prestige Brands, Inc, AstraZeneca, Johnson & Johnson Services Inc., Dr. Reddy's Laboratories Ltd, Bayer AG, Sun Pharmaceutical Industries Ltd, Procter & Gamble, Novartis AG, Pfizer Inc, and GSK plc. To obtain access to new markets, market players are continuously pursuing a variety of strategic initiatives, including the creation of new products, funding and investments, mergers and acquisitions, and other strategic partnerships.
In April 2023, GSK plc. and Bellus Health, a Canadian biotech company, signed a USD 2 billion acquisition agreement. It is anticipated that this transaction will improve GSK's global market position and clinical pipeline portfolio. Syrups and other formulations are also included in the variety.
GLOBAL COUGH REMEDIES MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Reckitt Benckiser Group PLC
Prestige Brands, Inc
AstraZeneca
Johnson & Johnson Services Inc.
Dr. Reddy's Laboratories Ltd
Bayer AG
Sun Pharmaceutical Industries Ltd
Procter & Gamble
Novartis AG
Pfizer Inc
GSK plc