Global Cough Syrup Market: Information by Product Type(Combination {Dextromethorphan + Guaifenesin, Guaifenesin + Pseudoephedrine and Brompheniramine + Pseudoephedrine} and Individual {Dextromethorphan, Guaifenesin, Ambroxol and Codeine}), by Category(Cough Suppressants and Expectorants), by Application(Adults and Children) and by Region( Americas, Europe, Asia-Pacific, Middle East & Africa) - Forecast till-2026
Market analysis
Nowadays, intensifying air contamination is appearing as a driver for the growth of the market. Air pollution is a major environment-related health threat that stands as a risk component for both acute and chronic respiratory illnesses. Concurring to a report by the Forum of International Respiratory Societies(FIRS), tobacco smoke, indoor air pollution from burning fuels, and air pollution from traffic and industrial sources are highlighted as the primary contributing factors for most respiratory circumstances. During February 2019, Merck invested USD 70 million to expand its research & development(R&D) facility in Billerica, Massachusetts for the development of innovative clinical pipeline products. World Health Organization(WHO) estimated that 4.3 million deaths per year could be ascribed to indoor air pollution. Most diseases and deaths that can be attributed to protracted exposure to poor indoor air quality occurs primarily in women and children, especially in low-income families. Exposure to indoor smoke used for heating and cooking leads to COPD, lung cancer, and, in children, it causes pneumonia and asthma. This sizable population involved with respiratory ailments due to air pollution is pushing the market for cough syrup market as it is a crucial medicine used for the therapy of such diseases. The increasing incidence of respiratory disorders along with the rising air pollution are some of the key factors supporting to the growth of the cough syrup market. Additionally, the expanding geriatric population, along with an active pharmaceutical sector, are boosting market growth as aged people are more prone to respiratory disorders. Furthermore, the market is expected to corroborate lucrative growth owing to ever-increasing product improvements.
Market segmentation
The Global cough syrup market has been segmented by type, application product type, category, application and by region. The individual product type has been beyond apportioned into dextromethorphan, guaifenesin, ambroxol, and codeine. In December 2016, it was noted that Pfizer, Inc., launched a series of products as a line expansion under the Corex brand name. The first launch was on December 2016, and following releases were conducted in 2017. These designs were duly endorsed by central and state regulators. Based on the category, the market has been segmented into cough suppressants and cough syrup. And by application, the cough syrup market has been classified as adults and children. Then in July 2018, Johnson & Johnson acquired Zarbee's Naturals, a drug-free children's cough syrup. The Americas is projected to hold a full share of the global cough syrup market, and the regional market is forecasted to register a CAGR of 3.16% during the forecast period. The presence of significant market players in the region, strategic acquisitions by major players to augment product selection, cumulative cases of respiratory disorders, and availability of advanced medications for the treatment of chronic obstructive pulmonary disease(COPD) is expected to drive the market development in this region to battle these concerns effectively through the use of cough syrups. This enabled the company to expand its product portfolio globally. Combination product type has been further categorized as dextromethorphan + guaifenesin, guaifenesin + pseudoephedrine, and brompheniramine + pseudoephedrine. Based on product type, the market has been isolated into combination and entities.
Regional analysis
Geographically, Global cough syrup market is split in regions like North & Latin America, Europe, Asia-Pacific, Middle east and Africa and Rest of the world. The Middle East & Africa cough syrup market has been segmented into major two regions, the Middle East and Africa. The established nations in the region, such as the UAE and Saudi Arabia, are the ones with the highest share of the cough syrup market. The advancing healthcare transportation, expanding healthcare expenditure, and increasing per capita disposable incomes of the people in these countries are some reasons leading to the large share of the market in these countries. Africa is the minimum built region with limited healthcare resources and services for the people. The low growth rate due to less created and less efficient health systems is hampering the growth of the market. Asia-Pacific is estimated to be the fastest-growing market due to the constant development in emerging countries such as India and China. High occurrence of respiratory disorders due to tobacco smoke, experience to air pollutants at home and the workplace, vehicular pollution, and indoor air pollution from biological agents related to moist and mold additional upsurge the risk of respiratory disease in children and adults in these nations. Europe accounts for the second largest, in the global cough syrup market, majorly due to the presence of key players such as Novartis, GlaxoSmithKline, and Reckitt Benckiser Group PLC. The cough syrup market in Europe is likely to be propelled by the expansion of the pharmaceutical business in Germany, France, and the UK.
Major players
The proposed spectators in the Global cough syrup market are cough syrup manufacturers, Retailers, distributors, wholesalers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global cough syrup market are concentrating on firming their global ways by entering into untouched markets. The projected onlookers in the Global cough syrup market are companies like Acella Pharmaceuticals, LLC(US), Pfizer, Inc.(US), Novartis AG(Switzerland), Merck KGaA(US), GlaxoSmithKline PLC(UK), Procter & Gamble(US), Reckitt Benckiser Group PLC(UK), Abbott(US), Sanofi(France) and Johnson & Johnson Services, Inc.(US).
