Guaifenesin Market Statistics 2030:
Guaifenesin is an expectorant commonly found in OTC products for the symptomatic relief from congested chests and coughs associated with cold, bronchitis, and/or other breathing illnesses. It possesses a storied history, having been originally formally approved by the US FDA in 1952 and continues to be one of very few - if not perhaps the only drug that is readily available and used as an expectorant. Although the exact mechanism of action of guaifenesin may not yet be formally or totally elucidated, it is believed that expectorants like guaifenesin function by increasing mucus secretion. Moreover, it is also further proposed that such expectorants may act as an irritant to gastric vagal receptors, and recruit efferent parasympathetic reflexes that can elicit glandular exocytosis that is comprised of a less viscous mucus mixture. Guaifenesin is available for pediatric, adults, and geriatric patients in oral dosage form of suspension.
Guaifenesin is used to try to help with coughing up thick mucus and is sometimes combined with dextromethorphan, an antitussive (cough suppressant), such as in Mucinex DM or Robitussin DM.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine, have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the guaifenesin market.
Increase in COVID-19 cases and availability of guaifenesin as OTC product in cough can significantly affect the market.
Top Impacting Factors
Changes in food consumption habit among youth and middle-class consumers leads to an increase in number of cases of cough throughout the world. This is the major factor that drives the demand for guaifenesin in the market. Restriction in use of codeine in many countries boosts the growth of the guaifenesin market in the upcoming years.
There is availability of many substitutes for the drug which can be the market restraint.
Surge in demand from developing countries due to the ongoing pandemic period creates opportunity to attract the investors toward the market.
Key Market Trends
Guaifenesin (API) is mainly used in pharmaceuticals industry. The proportion of Guaifenesin (API) used in pharmaceuticals industry is about 92%.
Strict regulation for use of codeine in many countries makes way for opportunity to the researchers to formulate the non-opioid expectorant, which is anticipated to boost the guaifenesin market growth as it is an ideal choice with fixed dose combination.
In March 2018, Perrigo Company plc. received the FDA approval for the brand OTC equivalent of Mucinex DM Maximum Strength (Guaifenesin and Dextromethorphan Hydrobromide Extended-release Tablets, 1200 mg/60 mg). Mucinex DM Maximum Strength is indicated to control coughs and to break up mucus, making coughs more productive. Approval and launch of such new drugs in the market is expected to drive the guaifenesin market growth during the forecast period.
However, stringent regulations against the use of cough suppressant are expected to affect the global cough suppressant drugs market growth during the forecast period.
Key Benefits of the Report
- This study presents the analytical depiction of the guaifenesin industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the guaifenesin market share.
- The current market is quantitatively analyzed to highlight the guaifenesin market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Guaifenesin Market Report
- Which are the leading players active in the guaifenesin market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the guaifenesin market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
Guaifenesin Market Report Highlights
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 Key Market Players | Biesterfeld AG, Granules India Ltd., Stellar Chemical Pvt. Ltd., Yuan Cheng Group, Iwaki Seiyaku Pan Drugs Co. Ltd., Gennex Lab, Haizhou Pharma Co. Ltd., Camlin Fine Science Ltd., Synthokem Labs Pvt. Ltd., Seven Star Pharma Ltd. |
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