The global Cough Remedies market size was valued at $7084.5 million in 2020, and is projected to reach $9911.2 million by 2030, registering a CAGR of 3.4% from 2021 to 2030. Cough is an immune response of the body to combat with antigens or any foreign bodies that is harmful after entering respiratory system. Progression of which may lead to complete congestion in lungs. The most common causes of cough are tobacco use, postnasal drip, asthma, and Gastroesophageal reflux disease (GERD). There are various types of conditions that are susceptible to cause chronic cough if left untreated. Major signs and symptoms include runny or stuffy nose, frequent throat clearing & sore throat, hoarseness, wheezing, and shortness of breath. Other causes of cough include chronic obstructive pulmonary disease (COPD), pneumonia, bronchiectasis, nonasthmatic eosinophilic bronchitis bronchiolitis, lung cancer, idiopathic pulmonary fibrosis, and usage of blood pressure drugs.
Surge in geriatric population, who are more prone to cough and cold, increase in vehicle pollution, surge in demand for over-the-counter products, increase in development of R&D activities, and growth in awareness about advanced medicines are anticipated to aid the cough remedies market generate higher revenue in the coming years. Increase in number of testing and research facilities mainly in the field of biotechnology and pharmaceutical companies contribute toward significant market growth during the forecast period
However, strict regulations regarding efficiency of cough remedies hinder the cough remedies market growth. Moreover, surge in incidences of conditions attacking respiratory system poses lucrative opportunities for the growth of the market in coming years.
The World Health Organization (WHO) on January 30, 2021 declared COVID-19 outbreak a public health emergency of international concern. Cough remedies can be used in management of cough caused as a symptom after getting exposed to COVID-19. However, workforce shortages as well as resource limitations, owing to COVID-19 is expected to negatively impact growth of the industry during the forecast period. In addition, rise in strict government regulations regarding lockdowns led to decrease in growth of the market. Moreover, need of the hour is to bring up newer products that can help combat with the advent of COVID-19 virus. There has been a steep growth in research activities to bring new products to cure cough caused by the virus, which is expected to propel growth of cough remedies during the forecast period.
Cough Remedies Market Segmentation
The global cough remedies market is segmented into product type, age group, distribution channel, and region. On the basis of product type, the market is categorized into expectorants, antihistamines, bronchodilators, decongestants, and antibiotics. Depending on age group, it is segregated into pediatric and adult. By distribution channel, it is classified into retail pharmacy, hospital pharmacy, and online pharmacy. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of product type, the expectorants segment is expected to gain highest revenue during the forecast period, owing to surge in incidences of respiratory diseases such as pneumonia, chronic obstructive pulmonary syndrome, and other infectious diseases that can cause congestion in lungs and create cough in chest walls. In addition, dry cough requires expectorants to help remove it from chest wall easily and rise in dry cough incidences is hence expected to propel growth of the segment during the forecast period.
By Product Type
The Bronchodilators and cough suppressants segment is expected to lead the market throughout the forecast period.
Depending on age group, the adult segment is anticipated to gain fastest CAGR during the forecast period and increase in incidences of chronic respiratory in adults, which require cough remedies propels growth of the market. In addition, advancements in cough remedies that can be used for adults are expected to propel growth in demand for cough remedies and hence aid the segment to gain traction in next few years. Growth in investments for research and development of novel products for therapeutics of chronic cough in adults who are aged 65 years and above helps the segment generate higher revenue.
By distribution channel, the hospital pharmacy segment dominated the global market in 2020, and is expected to continue this trend in the coming years. This is attributed to increase in number of outpatients and inpatients preferring hospital pharmacy and higher investments of hospitals for getting improved products as cough remedies. Furthermore, surge in adoption of newer products for research purposes in diagnostic laboratories leads to growth of the segment of the cough remedies market.
By Distribution Channel
The Retail Pharmacy segment is expected to lead the market throughout the forecast period.
The key players profiled in this report include Astrazeneca PLC (Astrazeneca), Bayer Ag, GlaxoSmithKline PLC, Johnson & Johnson, Novartis AG, Pfizer, Inc., Prestige Brands, Inc., Procter & Gamble, Reckitt Benckiser Group PLC., and Sun Pharmaceuticals Industries Limited.
Asia-Pacific segment held a highest revenue share in 2020, furthermore LAMEA is expected to register the fastest CAGR during the forecast period.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the Cough Remedies market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- The report covers the market analysis from 2020 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the cough remedies market.
- A comprehensive analysis of factors that drive and restrain the growth of the cough remedies market is provided.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook and Cough Remedies market growth.
Key Market Segments
By Product Type
By Age Group
By Distribution Channel
- Retail Pharmacy
- Hospital Pharmacy
- Online Pharmacy
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Cough Remedies Market Report Highlights
By PRODUCT TYPE
By AGE GROUP
By DISTRIBUTION CHANNEL
Key Market Players
PROCTER & GAMBLE (P&G), SUN PHARMACEUTICALS INDUSTRIES LIMITED, GLAXOSMITHKLINE PLC, .PRESTIGE BRANDS INC., Novartis International AG, JOHNSON & JOHNSON, Reckitt Benckiser Group plc., PFIZER, INC., .BAYER AG, ASTRAZENECA PLC
Cough remedies include medications that help combat with the immune response of cough and fights with antigens. In addition, rise in prevalence of respiratory diseases of various types mainly bacterial, fungal, and viral is expected to fuel growth of the market in the coming years. Furthermore, advent of unknown mutated microbes that are likely to cause chest infection or chronic cough has increased the need for research, and is expected to fuel the market growth during the forecast period. Rise in investments for development of medications to cure cough is expected to propel growth of the industry in next few years. In addition, advent of drug-resistant strains has opened newer avenues for the cough remedies market.
North America is expected to gain significant shares in 2020, owing to surge in healthcare spending on respiratory diseases. Furthermore, surge in geriatric population and multidrug resistance among adults and children boost need for novel drugs. This is expected to help the region generate high revenue in coming years. In addition, Asia-Pacific is anticipated to gain highest market share, owing to rise in patient population and increase in the spending on improvement of healthcare infrastructure.