Cough Syrup Market Synopsis
The cough syrup market 2020 is poised to witness steady growth. Cough syrups are used for people having cough related problems. It is one of the most demanded for medicines over the counter. The sales of cough syrup are likely to increase further in the coming years due to dipping temperature during winters. It has been declared by the United Nations that there are irreversible impacts of climate change on the earth. One of these impacts is the rising cold during winters. It is expected to drive the growth of the market for cough syrup. Recently Market Research Future MRFR has published a report that suggests that the global cough syrup market is presumed to mark 3.45% CAGR over the assessment period. It is assessed in the report that the global cough syrup market size is poised to reach USD 5139.63 Mn by the end of 2026.
Rising availability of cough syrup over the counter is expected to drive the growth of the market in the foreseeable future. The awareness about the availability of cough syrup is also rising which is expected to influence revenue growth rate of the cough syrup market positively. A rise in patient population is also anticipated over the next couple of years. It is prognosticated to drive the growth of the cough syrup market in the near future. Also, the growth of geriatric population is projected to drive the expansion of the cough syrup market.
The availability of the medicine for different age groups is poised to influence the market greatly. New products are expected to be launched due to flavor innovations. Also, market players are focusing on investments in advertisement to gain edge over each other. These factors are anticipated to catapult the cough syrup market on upward trajectory. Increasing prevalence of respiratory problems is expected to boost growth rate of the cough syrup market in the foreseeable future. However, stringent regulations and product recalls are anticipated to check the growth of the cough syrup market in the upcoming years.
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Cough Syrup Market Segmentation
On the basis of product type, the cough syrup market has been divided into combination and individual. The sub-segments of the combined segment are guaifenesin + pseudoephedrine, dextromethorphan + guaifenesin, and brompheniramine + pseudoephedrine. The sub-segments of the individual segment are dextromethorphan, ambroxol, guaifenesin, and codeine.
On the basis of category, the cough syrup market has been segmented into cough suppressants and expectorants.
On the basis of application, the cough syrup market has been segmented into adults and children.
Cough Syrup Market Regional Analysis
The geographical evaluation of the global cough syrup market is included with this report. It offers a detailed view of the market based on regions such as Americas, Asia Pacific, the Middle East and Africa (MEA), and Europe. Furthermore, a country-level assessment of these regions is also covered for providing an impactful intelligence. Asia Pacific is a major market due to its huge patient population. The region consolidates the two most populous countries. Thus, it is projected to earn high revenues over the forecast period. Rising respiratory issues in China and India are anticipated to drive the growth of the cough syrup market. In addition, the growth of geriatric population in Japan and China is also prognosticated to impact the cough syrup market favorably.
Cough Syrup Market Competitive Dashboard
Pfizer, Inc. (US), Merck KGaA (US), Novartis AG (Switzerland), Johnson & Johnson Services, Inc. (US), Acella Pharmaceuticals, LLC (US), GlaxoSmithKline PLC (UK), Procter & Gamble (USAbbott (US), ), Reckitt Benckiser Group PLC (UK), and Sanofi (France).