Global Cough Syrup Market is expected to Advance at a CAGR of 3.27% by 2028

 

 Triton Market Research presents the Global Cough Syrup Market segmented by Product Type (Cough Suppressants/Antitussives, Combination Medications, Expectorants), Age Group (Adult, Pediatric), Distribution Channel (Retail Pharmacy, Hospital Pharmacy, Online Pharmacy), and Geography (North America, Latin America, Middle East and Africa, Europe, and Asia-Pacific).

It further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter’s Five Forces Model, Market Attractiveness Index, Vendor Scorecard, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2022-2028).

Triton Market Research’s report states that the global cough syrup market would expand with a 3.27% CAGR during the forecasted years from 2022 to 2028.


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The significant rise in air pollution, smoking, and climate change has raised the risk of respiratory ailments. People suffer from various respiratory problems such as asthma, lung cancer, chronic lung infection, chronic obstructive pulmonary disease, etc., that block the airways, thus making it difficult to breathe. To solve these issues, cough syrups are commonly used to provide relief as it reduces and loosens the mucus present in the airways, thereby eliminating congestion. Moreover, the geriatric population suffers from respiratory failures due to aging, which raises the demand for cough syrups.

However, over-consumption and misuse of cough syrups have become a teen drug addiction problem. Also, several governments have banned the production and importation of cough syrup containing codeine which hampers the studied market’s growth process.

Globally, the Asia-Pacific is leading the market and is expected to continue its stronghold in the forecast years. The growth is supported by the prevalence of asthma and increased air pollution & greenhouse farming that causes respiratory disorders among the population. Besides, countries like Japan, South Korea, Thailand, etc., are vulnerable to respiratory diseases owing to the rising geriatric population. These factors are expected to fuel the cough syrup market in the Asia-Pacific region.

The prominent players in the global cough syrup market include Proctor and Gamble Co, Merck KGAA, Pfizer Inc, Johnson and Johnson, Glaxosmithkline, Acella Pharmaceuticals LLC, Novartis International AG, Sanofi SA, Reckitt Benckiser Group Plc, Cipla Limited, The Himalaya Drug Company, Dabur India Ltd, AstraZeneca Plc, Glenmark Pharmaceuticals Limited, and Abbott Laboratories.

There is stringent competitive rivalry among the market players in producing cough syrups. Companies invest heavily in R&D and spend millions on expanding their facilities which intensifies the competition. Also, they produce innovative and more effective products that boost their product portfolio. Additionally, the threat of new entrants in the market is quite low due to the presence of dominating players such as Proctor and Gamble Co, Johnson and Johnson, etc.

 

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