| A10312 | Pages: 240 | Feb 2021 | 3623 Views | ||
| Author(s) : Surabhi Pandey , Onkar Sumant | Tables: 112 | Charts: 41 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Cough Syrup Market
Request Now !The global cough syrup market size 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.
Cough syrups are used to treat coughs that occur when one has an upper respiratory tract infection (URTI). Moreover, a cough can also be a symptom of other conditions such as asthma or lung diseases. Cough syrups are often divided into those for a dry cough and those for a chesty cough. It is thought that cough syrups do not really work. However, some people feel that they work for them and are reasonably safe medicines. Cough syrups are sweet medicated liquids used to relieve coughing. Children who are aged 6 years and younger should only be given simple cough mixtures such as glycerin, honey, and lemon, or only a prescribed cough syrup.
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Cough syrup is prescribed by doctors or available over-the-counter for patients with sneezing, common cold, runny nose, and other respiratory allergies. A cough syrup ingredient has pro-viral properties and as per scientists, it should be avoided by people infected by the coronavirus. The medication “do not take” list for coronavirus symptoms released by the scientists includes dextromethorphan, an over-the-counter cough suppressant that is commonly used in cold medicines, especially cough syrup. Moreover, a new research paper published in the journal Nature found that dextromethorphan might increase the replication of SARS-CoV-2, the virus that causes COVID-19. Moreover, the coronavirus is able to replicate and hijack the cells, which can make one feel sicker. As a result, researchers caution against using cough syrup and other cold & flu medicines that contain dextromethorphan specifically.
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 cough syrup market growth.
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 distributed into retail pharmacy, hospital pharmacy, and online pharmacy. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By product type, the cough suppressants/antitussives segment held the largest share in 2019, and is expected to maintain its dominance over the forecast period. This is attributed to commonly available dextromethorphan at chemist stores or pharmacies.
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By age group, the adult segment is expected to register the highest CAGR during the forecast period due to rising geriatric population and increasing respiratory illness among adults. Furthermore, it is also attributed to the fact that cough syrups are mainly recommended to the adult age group by the government whereas the pediatric age group cannot be provided with OTC cough syrups without any prescription.
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By region, the cough syrup market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest share of revenue in 2019, and is anticipated to maintain its dominance from 2020 to 2027 due to easier availability of cough syrups at retail pharmacies, rise in geriatric population, and less stricter laws regarding the abuse of cough & cold medicines in the region. However, LAMEA is expected to register the highest CAGR during the forecast period as governments are investing in the development of healthcare infrastructure and increasing cases of respiratory disorders.
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Some of the key players operating in the cough syrup market include Novartis AG, Pfizer, Inc., Merck KGaA, GlaxoSmithKline PLC, Johnson & Johnson Services, Inc., Acella Pharmaceuticals, LLC, Reckitt Benckiser Group PLC, Sanofi, Procter & Gamble, and Abbott Laboratories. The other players (not profiled in the report) in the value chain include Sun Pharmaceutical Industries, Shanghai Pharmaceutical, AstraZaneca, and others.
Key Benefits For Stakeholders
Key Market Segments
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Key Market Players
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The utilization of cough syrup is expected to witness a significant rise with increase in prevalence of common cold and respiratory illness. Further, cough syrup is preferred more in some conditions over the other route of administration. Moreover, many cough and cold products for children have more than one ingredient, which can increase the chances of accidental overdose if taken, which boosts the growth of the market. In developing countries, cough syrups are easily available without any prescription over-the-counter, which drives the growth of the cough syrup market.
The combination medications segment is expected to register the highest CAGR during the forecast period as combination drugs are more effective in treating dry cough, wet cough, and other respiratory illness. Retail pharmacies dominate the market as prescription is not necessary, and cough syrups are easily available in drug stores. In addition, physicians prescribe the OTC cough syrups for common cold and other respiratory diseases, thereby driving the growth of the cough syrup market.
A. The major factor that fuels the growth of the Cough Syrup Market includes increase in respiratory illness and surge in geriatric population.
A. Cough Suppressants segment is the most influencing segment, owing to the easier avaibility and increasing geriatric populations in the developing countries.
A. Top companies such as, Novartis AG, Pfizer, Inc., Merck KGaA, GlaxoSmithKline PLC, Johnson & Johnson Services, Inc., Acella Pharmaceuticals, LLC, Reckitt Benckiser Group PLC, Sanofi, Procter & Gamble, and Abbott Laboratories
A. The total market value of Cough Syrup Market is $5,233 million in 2019.
A. The forcast period for Cough Syrup Market is 2020 to 2027
A. The market value of Cough Syrup Market in 2020 is $5,029 million.
A. The base year is 2019 in Cough Syrup Market
A. Yes, Cough Syrup companies are profiled in the report.
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