Cough Syrup Market
Cough Syrup Market Forecasts to 2030 - Global Analysis By Product Type (Expectorants, Cough Suppressants/Antitussives, Antihistamines, Combination Medications and Other Product Types), Age Group (Pediatric, Adult and Adolescents), Distribution Channel (Retail Pharmacy, Hospital Pharmacy and Online Pharmacy) 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
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o 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
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o 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
1 Global Cough Syrup Market Outlook, By Region (2021-2030) ($MN)
2 Global Cough Syrup Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Cough Syrup Market Outlook, By Expectorants (2021-2030) ($MN)
4 Global Cough Syrup Market Outlook, By Cough Suppressants/Antitussives (2021-2030) ($MN)
5 Global Cough Syrup Market Outlook, By Antihistamines (2021-2030) ($MN)
6 Global Cough Syrup Market Outlook, By Combination Medications (2021-2030) ($MN)
7 Global Cough Syrup Market Outlook, By Other Product Types (2021-2030) ($MN)
8 Global Cough Syrup Market Outlook, By Age Group (2021-2030) ($MN)
9 Global Cough Syrup Market Outlook, By Pediatric (2021-2030) ($MN)
10 Global Cough Syrup Market Outlook, By Adult (2021-2030) ($MN)
11 Global Cough Syrup Market Outlook, By Adolescents (2021-2030) ($MN)
12 Global Cough Syrup Market Outlook, By Distribution Channel (2021-2030) ($MN)
13 Global Cough Syrup Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
14 Global Cough Syrup Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
15 Global Cough Syrup Market Outlook, By Online Pharmacy (2021-2030) ($MN)
16 North America Cough Syrup Market Outlook, By Country (2021-2030) ($MN)
17 North America Cough Syrup Market Outlook, By Product Type (2021-2030) ($MN)
18 North America Cough Syrup Market Outlook, By Expectorants (2021-2030) ($MN)
19 North America Cough Syrup Market Outlook, By Cough Suppressants/Antitussives (2021-2030) ($MN)
20 North America Cough Syrup Market Outlook, By Antihistamines (2021-2030) ($MN)
21 North America Cough Syrup Market Outlook, By Combination Medications (2021-2030) ($MN)
22 North America Cough Syrup Market Outlook, By Other Product Types (2021-2030) ($MN)
23 North America Cough Syrup Market Outlook, By Age Group (2021-2030) ($MN)
24 North America Cough Syrup Market Outlook, By Pediatric (2021-2030) ($MN)
25 North America Cough Syrup Market Outlook, By Adult (2021-2030) ($MN)
26 North America Cough Syrup Market Outlook, By Adolescents (2021-2030) ($MN)
27 North America Cough Syrup Market Outlook, By Distribution Channel (2021-2030) ($MN)
28 North America Cough Syrup Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
29 North America Cough Syrup Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
30 North America Cough Syrup Market Outlook, By Online Pharmacy (2021-2030) ($MN)
31 Europe Cough Syrup Market Outlook, By Country (2021-2030) ($MN)
32 Europe Cough Syrup Market Outlook, By Product Type (2021-2030) ($MN)
33 Europe Cough Syrup Market Outlook, By Expectorants (2021-2030) ($MN)
34 Europe Cough Syrup Market Outlook, By Cough Suppressants/Antitussives (2021-2030) ($MN)
35 Europe Cough Syrup Market Outlook, By Antihistamines (2021-2030) ($MN)
36 Europe Cough Syrup Market Outlook, By Combination Medications (2021-2030) ($MN)
37 Europe Cough Syrup Market Outlook, By Other Product Types (2021-2030) ($MN)
38 Europe Cough Syrup Market Outlook, By Age Group (2021-2030) ($MN)
39 Europe Cough Syrup Market Outlook, By Pediatric (2021-2030) ($MN)
40 Europe Cough Syrup Market Outlook, By Adult (2021-2030) ($MN)
41 Europe Cough Syrup Market Outlook, By Adolescents (2021-2030) ($MN)
42 Europe Cough Syrup Market Outlook, By Distribution Channel (2021-2030) ($MN)
43 Europe Cough Syrup Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
44 Europe Cough Syrup Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
45 Europe Cough Syrup Market Outlook, By Online Pharmacy (2021-2030) ($MN)
46 Asia Pacific Cough Syrup Market Outlook, By Country (2021-2030) ($MN)
47 Asia Pacific Cough Syrup Market Outlook, By Product Type (2021-2030) ($MN)
48 Asia Pacific Cough Syrup Market Outlook, By Expectorants (2021-2030) ($MN)
49 Asia Pacific Cough Syrup Market Outlook, By Cough Suppressants/Antitussives (2021-2030) ($MN)
50 Asia Pacific Cough Syrup Market Outlook, By Antihistamines (2021-2030) ($MN)
51 Asia Pacific Cough Syrup Market Outlook, By Combination Medications (2021-2030) ($MN)
52 Asia Pacific Cough Syrup Market Outlook, By Other Product Types (2021-2030) ($MN)
53 Asia Pacific Cough Syrup Market Outlook, By Age Group (2021-2030) ($MN)
54 Asia Pacific Cough Syrup Market Outlook, By Pediatric (2021-2030) ($MN)
55 Asia Pacific Cough Syrup Market Outlook, By Adult (2021-2030) ($MN)
56 Asia Pacific Cough Syrup Market Outlook, By Adolescents (2021-2030) ($MN)
57 Asia Pacific Cough Syrup Market Outlook, By Distribution Channel (2021-2030) ($MN)
58 Asia Pacific Cough Syrup Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
59 Asia Pacific Cough Syrup Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
60 Asia Pacific Cough Syrup Market Outlook, By Online Pharmacy (2021-2030) ($MN)
61 South America Cough Syrup Market Outlook, By Country (2021-2030) ($MN)
62 South America Cough Syrup Market Outlook, By Product Type (2021-2030) ($MN)
63 South America Cough Syrup Market Outlook, By Expectorants (2021-2030) ($MN)
64 South America Cough Syrup Market Outlook, By Cough Suppressants/Antitussives (2021-2030) ($MN)
65 South America Cough Syrup Market Outlook, By Antihistamines (2021-2030) ($MN)
66 South America Cough Syrup Market Outlook, By Combination Medications (2021-2030) ($MN)
67 South America Cough Syrup Market Outlook, By Other Product Types (2021-2030) ($MN)
68 South America Cough Syrup Market Outlook, By Age Group (2021-2030) ($MN)
69 South America Cough Syrup Market Outlook, By Pediatric (2021-2030) ($MN)
70 South America Cough Syrup Market Outlook, By Adult (2021-2030) ($MN)
71 South America Cough Syrup Market Outlook, By Adolescents (2021-2030) ($MN)
72 South America Cough Syrup Market Outlook, By Distribution Channel (2021-2030) ($MN)
73 South America Cough Syrup Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
74 South America Cough Syrup Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
75 South America Cough Syrup Market Outlook, By Online Pharmacy (2021-2030) ($MN)
76 Middle East & Africa Cough Syrup Market Outlook, By Country (2021-2030) ($MN)
77 Middle East & Africa Cough Syrup Market Outlook, By Product Type (2021-2030) ($MN)
78 Middle East & Africa Cough Syrup Market Outlook, By Expectorants (2021-2030) ($MN)
79 Middle East & Africa Cough Syrup Market Outlook, By Cough Suppressants/Antitussives (2021-2030) ($MN)
80 Middle East & Africa Cough Syrup Market Outlook, By Antihistamines (2021-2030) ($MN)
81 Middle East & Africa Cough Syrup Market Outlook, By Combination Medications (2021-2030) ($MN)
82 Middle East & Africa Cough Syrup Market Outlook, By Other Product Types (2021-2030) ($MN)
83 Middle East & Africa Cough Syrup Market Outlook, By Age Group (2021-2030) ($MN)
84 Middle East & Africa Cough Syrup Market Outlook, By Pediatric (2021-2030) ($MN)
85 Middle East & Africa Cough Syrup Market Outlook, By Adult (2021-2030) ($MN)
86 Middle East & Africa Cough Syrup Market Outlook, By Adolescents (2021-2030) ($MN)
87 Middle East & Africa Cough Syrup Market Outlook, By Distribution Channel (2021-2030) ($MN)
88 Middle East & Africa Cough Syrup Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
89 Middle East & Africa Cough Syrup Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
90 Middle East & Africa Cough Syrup Market Outlook, By Online Pharmacy (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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