Global Cough Syrup Market By Product (Cough Suppressants, Combination Medications and Expectorants), By Age Group (Adult and Pediatric), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy and Online), By Regional Outlook, Industry Analysis Report and Forecast, 2020 - 2026
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Market Report Description
The Global Cough Syrup Market size is expected to reach $7.8 billion by 2026, rising at a market growth of 5.8% CAGR during the forecast period. Cough syrups are liquid medication, which is used to cure cough that causes an upper respiratory tract infection (URTI). Furthermore, a cough could be among the symptoms of many chronic diseases like asthma. Majorly, cough syrups are available in two types, one is for dry cough and another one is for a chesty cough. There are many cases in which cough syrups don’t work perfectly for many people. But there are many people who find it effective for their cough related problems. These cough syrups are sweet liquid medication that helps in relieving the cough.
Increasing air pollution is causing various health issues especially respiratory problems, which can lead to URTI, cough & common cold, thereby contributing to the growth of the cough syrup market. Air pollution is among the major cause of chronic respiratory problems. According to a report by the Forum of International Respiratory Societies (FIRS), factors like indoor air pollution from burning fuels, smoking tobacco, and pollution emitted from vehicles & industries are the prime aspects causing major respiratory issues.
Cough syrups witnesses a surge in demand due to their wide usage for curing common cold, URTI, and hay fever. Moreover, the increasing disposable income of people in emerging nations will also contribute to the rising growth of the cough syrups market. In addition, the growing geriatric population will also open various growth prospects for the market.
Based on Product, the market is segmented into Cough Suppressants, Combination Medications and Expectorants. On the basis of product type, the cough suppressants/antitussives market segment acquired the highest share in the market in 2019 and will witness the same trend during the forecast period. The general availability of dextromethorphan at medical stores or pharmacies is likely to drive the growth of the market.
Age Group Outlook
Based on Age Group, the market is segmented into Adult and Pediatric. Based on age group, the adult segment will garner the highest growth rate over the forecast period. It is because of the increasing geriatric population and rising respiratory problems among adults. Moreover, this growth is driven majorly because cough syrups are mostly prescribed to the adult age group by the doctors however the pediatric population should not be offered the OTC cough syrups without getting a prescription by a doctor.
|Market size value in 2019||USD 5.8 Billion|
|Market size forecast in 2026||USD 7.8 Billion|
|Historical Period||2016 to 2018|
|Forecast Period||2020 to 2026|
|Revenue Growth Rate||CAGR of 5.8% from 2020 to 2026|
|Number of Pages||183|
|Number of Tables||340|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product, Age Group, Distribution Channel, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Distribution Channel Outlook
Based on Distribution Channel, the market is segmented into Retail Pharmacy, Hospital Pharmacy and Online. The Retail Pharmacy market dominated the Global Cough Syrup Market by Distribution Channel in 2019, growing at a CAGR of 4 % during the forecast period. The Hospital Pharmacy market is showcasing a CAGR of 4.6% during (2020 - 2026).
Free Valuable Insights: Global Cough Syrup Market to reach a market size of $7.8 Billion by 2026
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, the Asia-Pacific region procured the largest revenue share in the market. It is also anticipated that this region will continue its dominance during the forecast period. It is due to the easy availability of cough syrups at pharmacies or medical stores, increasing in the geriatric population, and lesser strict rules & regulations related to the abuse of cough & cold medicines in the region.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Pfizer, Inc., Novartis AG, Merck Group, Johnson and Johnson, GlaxoSmithKline PLC (GSK), The Procter and Gamble Company, Reckitt Benckiser Group PLC, Abbott Laboratories, Sanofi S.A., and Acella Pharmaceuticals, LLC (Alora Pharmaceuticals, LLC).
Recent Strategies Deployed in Cough Syrup Market
- Oct-2020: GSK Consumer Healthcare introduced Robitussin Naturals, the first-ever line of drug-free products. These products aim to provide relief from occasional cough.
- Jul-2019: Pfizer signed an agreement with Mylan N.V. following which the companies’ combined Mylan with Upjohn, Pfizer’s off-patent branded and generic established medicines business. The combination created a new global pharmaceutical company. The new company is engaged in transforming and accelerating each business’s ability to serve patients’ needs and expanding their capabilities across more than 165 markets.
- Dec-2018: Procter and Gamble (P&G) completed the acquisition of Merck KGaA’s Consumer Health business. This acquisition improved P&G’s OTC geographic scale, brand portfolio and category footprint in the wide majority of the world’s top 15 OTC markets.
- Jul-2018: Johnson & Johnson Consumer Inc. signed a definitive agreement to acquire Zarbee’s, Inc., a leader in naturally-based healthcare products. The acquisition will include the complete line of Zarbee’s Naturals products for children and adults. The acquisition would add the more comprehensive set of products to consumers within its core need states.
- Oct-2016: Acella Pharmaceuticals got approval for a sugar-free bioequivalent to the antihistamine/decongestant Bromfed DM Cough Syrup (brompheniramine maleate, pseudoephedrine hydrochloride, and dextromethorphan hydrobromide syrup, 2mg/30mg/10mg per 5mL). This combination of ingredients is used for providing temporarily relieve the symptoms caused by the common cold, flu, allergies, and other breathing illnesses
Scope of the Study
Market Segments Covered in the Report:
- Cough Suppressants
- Combination Medications
By Age Group
By Distribution Channel
- Retail Pharmacy
- Hospital Pharmacy
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Pfizer, Inc.
- Novartis AG
- Merck Group
- Johnson and Johnson
- GlaxoSmithKline PLC (GSK)
- The Procter and Gamble Company
- Reckitt Benckiser Group PLC
- Abbott Laboratories
- Sanofi S.A.
- Acella Pharmaceuticals, LLC (Alora Pharmaceuticals, LLC)
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Cough Syrup Market Related Reports:
What would be the value of the global cough syrup market by 2026?
The global cough syrup market size is expected to reach $7.8 billion by 2026.
What are the key driving factors and challenges in the cough syrup market?
Increasing prevalence of respiratory problems are driving the market in coming years, however, misuse of cough syrups and strict rules & regulation by the government have limited the growth of the market.
Who are the leading players in the cough syrup market?
Pfizer, Inc., Novartis AG, Merck Group, Johnson and Johnson, GlaxoSmithKline PLC (GSK), The Procter and Gamble Company, Reckitt Benckiser Group PLC, Abbott Laboratories, Sanofi S.A., and Acella Pharmaceuticals, LLC (Alora Pharmaceuticals, LLC).
Which segment dominated the cough syrup market in 2019?
The Cough Suppressants market dominated the Global Cough Syrup Market by Product in 2019, growing at a CAGR of 4.2 % during the forecast period.
Which region dominated the cough syrup market in 2019?
The Asia Pacific market dominated the Global Cough Syrup Market by Region in 2019.