PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1447016
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1447016
Cough Syrup Market Forecasts to 2030 - Global Analysis By Product Type, Age Group, Distribution Channel and by Geography
According to Stratistics MRC, the Global Cough Syrup Market is accounted for $6312.09 million in 2023 and is expected to reach $8764.00 million by 2030 growing at a CAGR of 4.8% during the forecast period. An over-the-counter drug that is frequently used to treat cough symptoms is cough syrup. Cough syrup usually contains expectorants, cough suppressants, and occasionally antihistamines as active ingredients. Its main goals are to ease throat irritation, lessen the urge to cough, and encourage mucus loosening. Moreover, some formulations may also contain fever reducers or pain relievers. Cough syrup comes in a variety of forms, such as liquids and syrups, it is simple to use.
According to the American Lung Association, proper respiratory health is crucial for overall well-being, and regular exercise can contribute to maintaining strong lung function.
Market Dynamics:
Driver:
Frequency of respiratory conditions
Cough syrup demand is largely driven by the ongoing prevalence of respiratory conditions like colds, the flu, and allergies. Since many people throughout the world suffer from these illnesses, there is a constant need for cough relief products. Furthermore, cough syrup becomes the go-to option for people looking for quick and efficient relief from irritable symptoms related to respiratory problems.
Restraint:
Limited ability to address fundamental causes
Cough syrups mainly treat the symptoms of respiratory disorders rather than their underlying causes. Although they alleviate coughing and associated discomfort, they might not treat the underlying cause of the illness. Additionally, the need for therapies that provide comprehensive answers is growing among health-conscious consumers, which could limit the market for cough syrup expansion.
Opportunity:
Growing need for children's cough syrups
There's a chance to create pediatric cough syrups specifically because of the growing awareness of pediatric health and the growing need for kid-friendly medications. Products with flavors that appeal to kids and dosages that are accurate can become popular on the market. Moreover, by catering to the particular needs and preferences of pediatric consumers, manufacturers can make significant profits from this market niche.
Threat:
Price erosion and generic competition
The market for cough syrup is severely challenged by the possibility of generic competition. Cough syrups may see price erosion when generic versions hit the market after a patent expires. Additionally, the market share and profitability of well-known brands may be impacted by increased competition from generic alternatives, necessitating strategic planning on the part of businesses to maintain a competitive advantage.
Covid-19 Impact:
The market for cough syrup has seen a variety of effects from the COVID-19 pandemic. Although there was initially a spike in demand for cough and cold remedies, such as cough syrups, due to the increased focus on respiratory health, the industry faced difficulties due to disruptions in supply chains, manufacturing, and distribution. Lockdowns, social distancing policies, and economic uncertainty affected consumer buying patterns, causing a move toward necessities and internet retailers. Furthermore, the pandemic increased people's awareness of the value of preventive care and general health, which may have an effect on how people feel about and use cough syrups.
The Cough Suppressants/Antitussives segment is expected to be the largest during the forecast period
The segment with the largest share is predicted to be cough suppressants and antitussives. Decongestants, like dextromethorphan, act by lessening the urge to cough, which relieves dry, ineffective coughs. This category appeals to a wide range of consumers because it effectively reduces cough symptoms without making people drowsy. Moreover, antitussives are frequently used in over-the-counter cough syrup formulations due to their targeted approach to treating persistent coughing, which drives demand for them.
The Online Pharmacy segment is expected to have the highest CAGR during the forecast period
The market's highest CAGR has been seen in the online pharmacy sector, which also includes over-the-counter drugs like cough syrups. Online pharmacies are becoming more and more popular due to factors like accessibility, convenience, and consumer preference for online shopping. Additionally, customers can access a multitude of options, compare products, and make purchases from the comfort of their homes with the help of the online platform. Due to social distancing measures, the COVID-19 pandemic has expedited the adoption of online pharmacies even more.
Region with largest share:
It is projected that North America will control the largest share of the cough syrup market. The area is distinguished by a sizable consumer base, a well-established healthcare infrastructure, and high healthcare awareness. There is a demand for cough syrups because respiratory conditions are more common, especially in the winter months. Furthermore, the market in North America is further supported by the presence of large pharmaceutical companies and consumer preferences for over-the-counter medications.
Region with highest CAGR:
The cough syrup market is expected to grow at the highest CAGR in the European region. The area benefits from an aging population that is more susceptible to respiratory disorders, a well-established healthcare system, and high health awareness. Additionally, the wintertime cold and flu season's propensity to spread adds to the steady demand for cough syrups. Europe is positioned for continued growth in the cough syrup market due to its propensity for self-medication and over-the-counter remedies, as well as advances in pharmaceutical research.
Key players in the market
Some of the key players in Cough Syrup market include Takeda Pharmaceutical Company Limited, Abbott Laboratories, Johnson and Johnson Services, Inc, Merck & Co., Inc., Bayer AG, Teva Pharmaceuticals Industries Ltd, Acella Pharmaceuticals, LLC, Sun Pharmaceutical Industries Ltd., Novartis International AG, Reckitt Benckiser Group Plc., F. Hoffmann-La Roche Ltd, Sanofi, AstraZeneca PLC, Pfizer Inc., Eli Lilly and Company, GlaxoSmithKline PLC and Cipla Ltd.
Key Developments:
In January 2024, Merck, a leading science and technology company, has announced a licensing agreement with US-based firm Inspirna, Inc. for ompenaclid, a first-in-class oral inhibitor of the creatine transport channel SLC6A8, and SLC6A8-targeting follow-on compounds. Ompenaclid is currently being evaluated in a Phase II study for the second-line treatment of RAS-mutated advanced or metastatic colorectal cancer (mCRC).
In September 2023, Abbott has entered a definitive agreement for the acquisition of Bigfoot Biomedical, which develops smart insulin management systems for individuals with diabetes. Together, the companies have worked on connected diabetes solutions since 2017. Developed by Bigfoot Biomedical, Bigfoot Unity is a smart insulin management system. It features connected insulin pen caps that use integrated continuous glucose monitoring (iCGM) data and healthcare provider instructions.
In January 2023, Takeda has signed an exclusive licence agreement with HUTCHMED (China) and its subsidiary Hutchmed to develop and market the latter's fruquintinib. Under the deal terms, the company will have an exclusive global licence for the development and commercialisation of fruquintinib for all indications and territories outside of mainland China, Macau, and Hong Kong.
Product Types Covered:
- Expectorants
- Cough Suppressants/Antitussives
- Antihistamines
- Combination Medications
- Other Product Types
Age Groups Covered:
- Pediatric
- Adult
- Adolescents
Distribution Channels Covered:
- Retail Pharmacy
- Hospital Pharmacy
- Online Pharmacy
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Product Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Cough Syrup Market, By Product Type
- 5.1 Introduction
- 5.2 Expectorants
- 5.3 Cough Suppressants/Antitussives
- 5.4 Antihistamines
- 5.5 Combination Medications
- 5.6 Other Product Types
6 Global Cough Syrup Market, By Age Group
- 6.1 Introduction
- 6.2 Pediatric
- 6.3 Adult
- 6.4 Adolescents
7 Global Cough Syrup Market, By Distribution Channel
- 7.1 Introduction
- 7.2 Retail Pharmacy
- 7.3 Hospital Pharmacy
- 7.4 Online Pharmacy
8 Global Cough Syrup Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Takeda Pharmaceutical Company Limited
- 10.2 Abbott Laboratories
- 10.3 Johnson and Johnson Services, Inc
- 10.4 Merck & Co., Inc.
- 10.5 Bayer AG
- 10.6 Teva Pharmaceuticals Industries Ltd
- 10.7 Acella Pharmaceuticals, LLC
- 10.8 Sun Pharmaceutical Industries Ltd.
- 10.9 Novartis International AG
- 10.10 Reckitt Benckiser Group Plc.
- 10.11 F. Hoffmann-La Roche Ltd
- 10.12 Sanofi
- 10.13 AstraZeneca PLC
- 10.14 Pfizer Inc.
- 10.15 Eli Lilly and Company
- 10.16 GlaxoSmithKline PLC
- 10.17 Cipla Ltd
List of Tables
- Table 1 Global Cough Syrup Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Cough Syrup Market Outlook, By Product Type (2021-2030) ($MN)
- Table 3 Global Cough Syrup Market Outlook, By Expectorants (2021-2030) ($MN)
- Table 4 Global Cough Syrup Market Outlook, By Cough Suppressants/Antitussives (2021-2030) ($MN)
- Table 5 Global Cough Syrup Market Outlook, By Antihistamines (2021-2030) ($MN)
- Table 6 Global Cough Syrup Market Outlook, By Combination Medications (2021-2030) ($MN)
- Table 7 Global Cough Syrup Market Outlook, By Other Product Types (2021-2030) ($MN)
- Table 8 Global Cough Syrup Market Outlook, By Age Group (2021-2030) ($MN)
- Table 9 Global Cough Syrup Market Outlook, By Pediatric (2021-2030) ($MN)
- Table 10 Global Cough Syrup Market Outlook, By Adult (2021-2030) ($MN)
- Table 11 Global Cough Syrup Market Outlook, By Adolescents (2021-2030) ($MN)
- Table 12 Global Cough Syrup Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 13 Global Cough Syrup Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
- Table 14 Global Cough Syrup Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
- Table 15 Global Cough Syrup Market Outlook, By Online Pharmacy (2021-2030) ($MN)
- Table 16 North America Cough Syrup Market Outlook, By Country (2021-2030) ($MN)
- Table 17 North America Cough Syrup Market Outlook, By Product Type (2021-2030) ($MN)
- Table 18 North America Cough Syrup Market Outlook, By Expectorants (2021-2030) ($MN)
- Table 19 North America Cough Syrup Market Outlook, By Cough Suppressants/Antitussives (2021-2030) ($MN)
- Table 20 North America Cough Syrup Market Outlook, By Antihistamines (2021-2030) ($MN)
- Table 21 North America Cough Syrup Market Outlook, By Combination Medications (2021-2030) ($MN)
- Table 22 North America Cough Syrup Market Outlook, By Other Product Types (2021-2030) ($MN)
- Table 23 North America Cough Syrup Market Outlook, By Age Group (2021-2030) ($MN)
- Table 24 North America Cough Syrup Market Outlook, By Pediatric (2021-2030) ($MN)
- Table 25 North America Cough Syrup Market Outlook, By Adult (2021-2030) ($MN)
- Table 26 North America Cough Syrup Market Outlook, By Adolescents (2021-2030) ($MN)
- Table 27 North America Cough Syrup Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 28 North America Cough Syrup Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
- Table 29 North America Cough Syrup Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
- Table 30 North America Cough Syrup Market Outlook, By Online Pharmacy (2021-2030) ($MN)
- Table 31 Europe Cough Syrup Market Outlook, By Country (2021-2030) ($MN)
- Table 32 Europe Cough Syrup Market Outlook, By Product Type (2021-2030) ($MN)
- Table 33 Europe Cough Syrup Market Outlook, By Expectorants (2021-2030) ($MN)
- Table 34 Europe Cough Syrup Market Outlook, By Cough Suppressants/Antitussives (2021-2030) ($MN)
- Table 35 Europe Cough Syrup Market Outlook, By Antihistamines (2021-2030) ($MN)
- Table 36 Europe Cough Syrup Market Outlook, By Combination Medications (2021-2030) ($MN)
- Table 37 Europe Cough Syrup Market Outlook, By Other Product Types (2021-2030) ($MN)
- Table 38 Europe Cough Syrup Market Outlook, By Age Group (2021-2030) ($MN)
- Table 39 Europe Cough Syrup Market Outlook, By Pediatric (2021-2030) ($MN)
- Table 40 Europe Cough Syrup Market Outlook, By Adult (2021-2030) ($MN)
- Table 41 Europe Cough Syrup Market Outlook, By Adolescents (2021-2030) ($MN)
- Table 42 Europe Cough Syrup Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 43 Europe Cough Syrup Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
- Table 44 Europe Cough Syrup Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
- Table 45 Europe Cough Syrup Market Outlook, By Online Pharmacy (2021-2030) ($MN)
- Table 46 Asia Pacific Cough Syrup Market Outlook, By Country (2021-2030) ($MN)
- Table 47 Asia Pacific Cough Syrup Market Outlook, By Product Type (2021-2030) ($MN)
- Table 48 Asia Pacific Cough Syrup Market Outlook, By Expectorants (2021-2030) ($MN)
- Table 49 Asia Pacific Cough Syrup Market Outlook, By Cough Suppressants/Antitussives (2021-2030) ($MN)
- Table 50 Asia Pacific Cough Syrup Market Outlook, By Antihistamines (2021-2030) ($MN)
- Table 51 Asia Pacific Cough Syrup Market Outlook, By Combination Medications (2021-2030) ($MN)
- Table 52 Asia Pacific Cough Syrup Market Outlook, By Other Product Types (2021-2030) ($MN)
- Table 53 Asia Pacific Cough Syrup Market Outlook, By Age Group (2021-2030) ($MN)
- Table 54 Asia Pacific Cough Syrup Market Outlook, By Pediatric (2021-2030) ($MN)
- Table 55 Asia Pacific Cough Syrup Market Outlook, By Adult (2021-2030) ($MN)
- Table 56 Asia Pacific Cough Syrup Market Outlook, By Adolescents (2021-2030) ($MN)
- Table 57 Asia Pacific Cough Syrup Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 58 Asia Pacific Cough Syrup Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
- Table 59 Asia Pacific Cough Syrup Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
- Table 60 Asia Pacific Cough Syrup Market Outlook, By Online Pharmacy (2021-2030) ($MN)
- Table 61 South America Cough Syrup Market Outlook, By Country (2021-2030) ($MN)
- Table 62 South America Cough Syrup Market Outlook, By Product Type (2021-2030) ($MN)
- Table 63 South America Cough Syrup Market Outlook, By Expectorants (2021-2030) ($MN)
- Table 64 South America Cough Syrup Market Outlook, By Cough Suppressants/Antitussives (2021-2030) ($MN)
- Table 65 South America Cough Syrup Market Outlook, By Antihistamines (2021-2030) ($MN)
- Table 66 South America Cough Syrup Market Outlook, By Combination Medications (2021-2030) ($MN)
- Table 67 South America Cough Syrup Market Outlook, By Other Product Types (2021-2030) ($MN)
- Table 68 South America Cough Syrup Market Outlook, By Age Group (2021-2030) ($MN)
- Table 69 South America Cough Syrup Market Outlook, By Pediatric (2021-2030) ($MN)
- Table 70 South America Cough Syrup Market Outlook, By Adult (2021-2030) ($MN)
- Table 71 South America Cough Syrup Market Outlook, By Adolescents (2021-2030) ($MN)
- Table 72 South America Cough Syrup Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 73 South America Cough Syrup Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
- Table 74 South America Cough Syrup Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
- Table 75 South America Cough Syrup Market Outlook, By Online Pharmacy (2021-2030) ($MN)
- Table 76 Middle East & Africa Cough Syrup Market Outlook, By Country (2021-2030) ($MN)
- Table 77 Middle East & Africa Cough Syrup Market Outlook, By Product Type (2021-2030) ($MN)
- Table 78 Middle East & Africa Cough Syrup Market Outlook, By Expectorants (2021-2030) ($MN)
- Table 79 Middle East & Africa Cough Syrup Market Outlook, By Cough Suppressants/Antitussives (2021-2030) ($MN)
- Table 80 Middle East & Africa Cough Syrup Market Outlook, By Antihistamines (2021-2030) ($MN)
- Table 81 Middle East & Africa Cough Syrup Market Outlook, By Combination Medications (2021-2030) ($MN)
- Table 82 Middle East & Africa Cough Syrup Market Outlook, By Other Product Types (2021-2030) ($MN)
- Table 83 Middle East & Africa Cough Syrup Market Outlook, By Age Group (2021-2030) ($MN)
- Table 84 Middle East & Africa Cough Syrup Market Outlook, By Pediatric (2021-2030) ($MN)
- Table 85 Middle East & Africa Cough Syrup Market Outlook, By Adult (2021-2030) ($MN)
- Table 86 Middle East & Africa Cough Syrup Market Outlook, By Adolescents (2021-2030) ($MN)
- Table 87 Middle East & Africa Cough Syrup Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 88 Middle East & Africa Cough Syrup Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
- Table 89 Middle East & Africa Cough Syrup Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
- Table 90 Middle East & Africa Cough Syrup Market Outlook, By Online Pharmacy (2021-2030) ($MN)
