Cough Syrup Market 2023 Updates : Projected to Grow at a CAGR of 2.8% by 2027, Report

According to the report published by Allied Market Research, the global Cough Syrup Market was pegged at $5.23 billion in 2019 and is estimated to hit $6.10 billion 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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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.

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.

 

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Cough Syrup Market Segmentation

• Product Segmentation:
  • Expectorants
  • Cough Suppressants/Antitussives
  • Combination Medications
• Age Group Segmentation:
  • Pediatric
  • Adult
• Distribution Channel:
  • Retail Pharmacy
  • Hospital Pharmacy
  • Online Pharmacy
• Regional Analysis:
  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

In terms of product type, the combination medications segment is anticipated to exhibit the highest Compound Annual Growth Rate (CAGR) during the forecast period. This is attributed to its efficacy in treating a diverse range of respiratory illnesses.

Regarding age group segmentation, the adult segment is projected to witness the highest CAGR. This can be attributed to the governmental recommendation of cough syrups primarily for the adult age group, as Over-the-Counter (OTC) cough syrups are not typically recommended for the pediatric age group without a prescription.

Key Market Players

• Reckitt Benckiser Group Plc.
• Johnson & Johnson Services Inc.
• Pfizer Inc.
• Novartis International AG
• Procter & Gamble
• Merck KGaA
• Sanofi
• Abbott Laboratories
• Acella Pharmaceuticals, LLC
• GlaxoSmithKline plc

 

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Regional Analysis

In 2019, the Asia-Pacific region claimed the highest revenue share, a trend expected to persist from 2020 to 2027. This is attributed to the convenient accessibility of cough syrups in retail pharmacies, a growing elderly population, and relatively lenient regulations on the misuse of cough and cold medications in the region. Conversely, the LAMEA region is projected to exhibit the most substantial Compound Annual Growth Rate (CAGR) throughout the forecast period. This is driven by government investments in healthcare infrastructure development and a rising incidence of respiratory disorders in the area.

 

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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

 

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