Cough Syrup Market Projected to Grow Expeditiously: to Reach USD 6.1 Billion by 2027, Report
The global cough syrup market was valued at $5,232.73 million in 2019, and is projected to reach $6,108.25 million by 2027, registering a CAGR of 2.8% from 2020 to 2027.
- CAGR: 2.8%
- Current Market Size: USD 5.2 Billion
- Fastest Growing Region: APAC
- Largest Market: North America
- Projection Time: 2019-2027
- Base Year: 2019
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By Product Type |
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By Age Group |
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By Distribution Channel |
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By Region |
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Key Findings Of The Study
- By product type, the combination medications segment is anticipated to grow with the highest CAGR over the forecast period.
- Depending on distribution channel, the retails pharmacy segment held the largest revenue share in 2019, and is expected to maintain its dominance from 2020-2027.
- Based on age group, the pediatric segment is expected to grow with a CAGR of 1.1% over the forecast period.
- Region-wise the Asia-Pacific cough syrup market is anticipated to experience 3.2% CAGR during the forecast period.
- The Mexico cough syrup market is anticipated to experience 3.4% CAGR from 2020 to 2027.
Key Benefits For Stakeholders
- This report provides a detailed quantitative analysis of the current global cough syrup market trends forecast estimations from 2020 to 2027, which assist to identify the prevailing market opportunities.
- In-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the global cough syrup market is provided.
- Region-wise and country-wise cough syrup market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future market potential from 2019 to 2027 in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help in understanding competitive outlook of the global cough syrup market.
- Abbott Laboratories
- Acella Pharmaceuticals, LLC
- GlaxoSmithKline plc
- Johnson & Johnson services Inc.
- Merck KGaA
- Novartis International AG
- Pfizer Inc.
- Procter & Gamble
- Reckitt Benckiser Group Plc.
- Sanofi
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In 2019, the Asia-Pacific region emerged as the leading contributor to revenue and is projected to continue its dominance from 2020 to 2027. This can be attributed to the convenient availability of cough syrups at retail pharmacies, a growing geriatric population, and less stringent regulations concerning the abuse of cough and cold medicines in the region. On the other hand, the LAMEA region is expected to exhibit the highest compound annual growth rate (CAGR) during the forecast period. This is primarily due to governments investing in healthcare infrastructure development and the rising prevalence of respiratory disorders in the region.
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A. The major factor that fuels the growth of the Cough Syrup Market includes increase in respiratory illness and surge in geriatric population.
Q2. Which are the top companies hold the market share in Cough Syrup Market?
A. Top companies such as, Novartis AG, Pfizer, Inc., Merck KGaA, GlaxoSmithKline PLC, Johnson & Johnson Services, Inc., Acella Pharmaceuticals, LLC, Reckitt Benckiser Group PLC, Sanofi, Procter & Gamble, and Abbott Laboratories
and more…
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