“Global Cough Remedies Market to reach a market value of USD 12.8 Billion by 2030 growing at a CAGR of 5.3%”
The Global Cough Remedies Market size is expected to reach $12.8 billion by 2030, rising at a market growth of 5.3% CAGR during the forecast period.
Without requiring a prescription, pharmacies, supermarkets, and online marketplaces provide convenient access to a vast selection of over-the-counter cough remedies. Consequently, the online pharmacies segment by distribution channel would generate approximately 19.4% revenue share of the market by 2030. Consumers appreciate the convenience and flexibility of purchasing cough medications from these accessible channels, eliminating the hassle of visiting a healthcare provider for minor ailments.
Rapid industrialization, urbanization, and vehicular emissions worsen air quality in many regions globally. Exposure to pollutants like particulate matter, sulfur dioxide, nitrogen oxides, and volatile organic compounds irritates the respiratory tract, leading to coughing, wheezing, and other respiratory symptoms. As air pollution levels rise, so does the incidence of respiratory diseases, necessitating effective cough remedies to manage associated symptoms. Hence, these aspects can assist in the growth of the market.
Additionally, Manufacturers invest in research and development to formulate cough remedies with enhanced therapeutic effects. This includes incorporating novel active ingredients, synergistic combinations, and advanced drug delivery systems to target cough symptoms more effectively. Hence, these factors can fuel the demand for cough remedies in the upcoming years.
However, Regulatory bodies impose stringent guidelines governing cough remedies' formulation, labeling, and marketing, primarily safeguarding consumer safety and ensuring product efficacy. Compliance with these standards requires manufacturers to undergo rigorous testing, meticulous documentation, and lengthy approval processes, substantially increasing costs and delaying time-to-market. Hence, these factors can lead to a decreased demand for cough remedies in the upcoming years.
Furthermore, the pandemic has underscored the importance of immune health in preventing respiratory infections, leading consumers to prioritize immune-supportive products in their wellness regimens. By expanding their product lines to include immune-support supplements or incorporating immune-boosting constituents into cough remedies, manufacturers may be able to capitalize on this trend. Thus, the COVID-19 pandemic positively impacted the market.
By age, the market is bifurcated into pediatric and adult. In 2022, the pediatric segment witnessed a 27.35% revenue share in the market. Pediatric cough remedies are formulated with ingredients and dosages deemed safe and effective for children, considering their unique physiological characteristics and susceptibility to adverse effects. Manufacturers must adhere to stringent regulatory guidelines governing pediatric medications to ensure product safety and efficacy. Thus, these factors can pose lucrative growth prospects for the market.
Based on distribution channel, the market is segmented into retail pharmacy, hospital, and online pharmacies. The retail pharmacy segment held a 52.64% revenue share in the market in 2022. Retail pharmacies serve as accessible points of contact for consumers seeking cough remedies. Their widespread presence in local communities ensures convenience and ease of access, allowing consumers to quickly obtain over-the-counter cough medications without needing a prescription. Therefore, owing to these factors, the segment will expand rapidly in the upcoming years.
Based on type, the market is segmented into expectorants, antihistamines, bronchodilators, antibiotics, and others. In 2022, the antihistamines segment garnered a 32.75% revenue share in the market. Antihistamines are frequently prescribed to treat allergic reactions, including sinusitis, allergic rhinitis, and hay fever, which induce coughing. By blocking the effects of histamine, antihistamines help relieve nasal congestion, sneezing, and itching, which often accompany allergic cough. Therefore, these aspects can lead to enhanced demand in the segment.
On the basis of dosage form, the market is divided into oral syrup, tablets & pills, lozenges, and others. The oral syrup segment recorded a 39.3% revenue share in the remedies market in 2022. Oral syrups come in various formulations, allowing manufacturers to tailor products to specific cough types and symptoms. Antitussive syrups are designed to suppress cough reflexes, providing relief from dry, non-productive coughs, while expectorant syrups help loosen and expel mucus from the respiratory tract, easing productive coughs. Therefore, these factors can help in the growth of the segment.
Free Valuable Insights: Global Cough Remedies Market size to reach USD 12.8 Billion by 2030
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific segment acquired a 22.9% revenue share in the market. The Asia Pacific region is home to a significant portion of the world's population, with densely populated countries such as China and India driving demand for healthcare products, including cough remedies. Rapid urbanization and rising disposable incomes in emerging economies contribute to increased access to healthcare and a growing demand for over-the-counter remedies. Hence, the segment will expand rapidly in the upcoming years.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 8.9 Billion |
| Market size forecast in 2030 | USD 12.8 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.3% from 2023 to 2030 |
| Number of Pages | 266 |
| Number of Tables | 460 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Age, Distribution Channel, Type, Dosage, Region |
| Country scope |
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| Companies Included | Himalaya Global Holdings Ltd., Nature's Way Products LLC (Dr. Willmar Schwabe GmbH & Co. KG), Pfizer, Inc., Amway Corporation, NOW Foods, Inc., Wakunaga of America Co., Ltd. (Wakunaga Pharmaceutical Co., Ltd.), Nu Skin Enterprises, Inc., Nature’s Sunshine Products, Inc., Neurobiologix, Inc., Nordic Naturals, Inc. |
By Age
By Distribution Channel
By Type
By Dosage
By Geography
This Market size is expected to reach $12.8 billion by 2030.
Increasing Prevalence of Respiratory Diseases are driving the Market in coming years, however, Regulatory Constraints and Compliance Challenges restraints the growth of the Market.
Himalaya Global Holdings Ltd., Nature's Way Products LLC (Dr. Willmar Schwabe GmbH & Co. KG), Pfizer, Inc., Amway Corporation, NOW Foods, Inc., Wakunaga of America Co., Ltd. (Wakunaga Pharmaceutical Co., Ltd.), Nu Skin Enterprises, Inc., Nature’s Sunshine Products, Inc., Neurobiologix, Inc., Nordic Naturals, Inc.
The expected CAGR of this Market is 5.3% from 2023 to 2030.
The Adult segment is leading the Market by Age in 2022 there by, achieving a market value of $9.0 billion by 2030.
The North America region dominated the Market by Region in 2022 and would continue to be a dominant market till 2030; there by, achieving a market value of $5.0 billion by 2030.
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