Cough Syrup Market Analysis
The global cough syrup market is anticipated to touch USD 5,139.63 million at a 3.45% CAGR between 2014-2026, states the new Market Research Future (MRFR) report. Cough syrups, simply put, are medications that are used to offer temporary relief from a runny nose, sneezing, and coughs due to hay fever, common cold, and other types of respiratory allergies. There are various forms of cough syrups available in the market resting on when it is taken. Daytime cough syrups do not have codeine, which means it will not make one feel drowsy. On the other hand, nighttime cough syrups contain codeine. They last longer compared to daytime cough syrups, thus allowing better sleep at night. Most importantly, cough medicines cannot be taken by people with heart disease or high blood pressure, and those who are taking SSRI antidepressants.
Numerous factors are adding to the growth of the global cough syrup market. These factors, according to the latest Market Research Future report, include increasing product developments, a rise in geriatric pollution, increasing income in developing economies, massive air pollution, and an increase in respiratory disorders.
On the contrary, the availability of substitutes, stringent regulatory scenario, and product recalls are factors that may restrict the global cough syrup market growth during the forecast period.
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Cough Syrup Market Segmentation
The Market Research Future report provides a complete segmental analysis of the global cough syrup market based on application, category, and type.
By type, the global cough syrup market is segmented into individuals and combinations. The individual segment is again segmented into codeine, ambroxol, guaifenesin, and dextromethorphan. The combination segment is again segmented into brompheniramine + pseudoephedrine, guaifenesin + pseudoephedrine, and dextromethorphan + guaifenesin.
By category, the global cough syrup market is segmented into expectorants and suppressants.
By application, the global cough syrup market is segmented into children and adults.
Cough Syrup Market Regional Analysis
By region, the global cough syrup market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will dominate the cough syrup market during the forecast period. It is projected to grow at a 3.16% CAGR. Numerous factors are adding to the growth of the global cough syrup market in the region such as the availability of advanced medicines to treat chronic obstructive pulmonary disease (COPD), rising prevalence of respiratory disorders, strategic acquisitions by key players to augment product portfolio, and presence of leading players in the region.
Europe will hold the second-largest share in the cough syrup market during the forecast period for the presence of top players in the region, such as Reckitt Benckiser Group PLC, GlaxoSmithKline, and Novartis. Besides, the booming pharmaceutical industry in the UK, France, and Germany are also adding to the market growth.
The global cough syrup market in the APAC region will grow at the fastest pace during the forecast period. Numerous factors are adding to the growth of the global cough syrup market in the region such as constant development in China as well as India, rising incidence of respiratory diseases on account of exposure to air pollution in the workplace and home, tobacco smoke, indoor air pollution from various biological agents associated with mold and damp, and vehicular pollution.
The global cough syrup market in the Middle East and Africa will have notable growth during the forecast period. Numerous factors are adding to the growth of the global cough syrup market in the region, such as increasing healthcare expenditure, growing per capita disposable income, and advancing healthcare infrastructure. Saudi Arabia and the UAE are the leading contributors in this region. Africa is a less developed region having limited facilities and healthcare resources for the people. This low growth rate is on account of less efficient and less developed health systems.
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Cough Syrup Market Key Players
Notable players profiled in the global cough syrup market report include Sanofi (France), Abbott (US), Reckitt Benckiser Group PLC (UK), Procter & Gamble (US), Acella Pharmaceuticals, LLC (US), GlaxoSmithKline PLC (UK), Johnson & Johnson Services, Inc. (US), Merck KGaA (US), Novartis AG (Switzerland), and Pfizer, Inc. (US).