Dextromethorphan Market: Current Analysis and Forecast (2023-2030)

Dextromethorphan (DXM) is a medication commonly used as a cough suppressant. It is an active ingredient found in many over-the-counter cough and cold medicines. DXM works by suppressing the cough reflex in the brain. The market for dextromethorphan has been significant due to its widespread use in various cough and cold medications. Its availability over-the-counter (OTC) has made it easily accessible to consumers. Further, cough is the most common disease found in humans, and accounting for frequent clinical visits is the important factor driving the market growth of the dextromethorphan market. As per the study published in NCBI, Cough is one of the most common medical conditions, resulting in up to 30 million doctor visits annually.

Dextromethorphan Market is expected to grow at a strong CAGR of 3% during the forecast period (2023-2030) owing to the rising geriatric population and increasing cases of cough and cold in them. For instance, according to World Health Organisation, by 2030, one in six people in the world will be over the age of 60. By then, the share of the population aged 60 and over will increase from 1 billion in 2020 to 1.4 billion.

Based on product type, the market is segmented into capsules, tablets, syrups, and others. As per our analysis, the tablets segment acquired a major share in 2022. Tablets are also widely used as cough suppressants and are available over the counter in most countries. Tablets offer various advantages such as increasing the transfer of controlled doses of drugs and being more convenient to use is the major factor responsible for the growth of the segment.

Based on the age group, the market is segmented into adults and pediatrics. The pediatric segment is expected to grow with a higher CAGR in the dextromethorphan market during the forecast period. The demand for pediatric DXM products is driven by the high incidence of respiratory infections in children, which can cause coughing and sneezing. In addition, many parents prefer to use OTC medications, such as DXM products, to treat their children's symptoms rather than seeking prescription medications. For instance, Acute respiratory infections (ARI) are responsible for almost 20% of all deaths of children aged less than 5 years worldwide.

Based on the distribution channel, the market is segmented into hospital pharmacy, retail pharmacy, online pharmacy, and others. As per our analysis, the retail pharmacy segment acquired a major share in 2021. Retail pharmacies also play a critical role in ensuring that DXM products are used appropriately and safely. Pharmacists can provide information on proper dosing and use, as well as warn consumers about the potential risks associated with DXM use. These are the several factors that are driving the growth of the retail pharmacy segment.

For a better understanding of the market adoption of the industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Rest of World. North America held dominating share of the dextromethorphan market in 2022. The presence of well-established healthcare infrastructure, along with the increasing healthcare expenditure in the countries is the major attributing factor for the market growth in North America.

Some of the major players operating in the market include: Aurobindo Pharma; Mylan N.V.; Sandoz International GmbH; Sun Pharmaceutical Industries Ltd.; Teva Pharmaceutical Industries Ltd.; Zydus Group; Cipla Inc; Amneal Pharmaceuticals LLC; Pfizer Inc.; and Intas Pharmaceuticals Ltd.