OTC Cough, Cold And Allergy Medicine Market Expects A 5.5% CAGR Growth By 2031

According to Fact MR's recent market research, sales of OTC Cough, Cold, and Allergy Medicine to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.

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Focus on improving overall patient care will remain a chief growth driver. Besides this, OTC Cough, Cold, and Allergy Medicine market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.

To offer an in-depth overview, the report provides sales projections for over 20 countries. It also identifies segments exhibiting maximum growth.
Digital Transformation in Healthcare Presenting Opportunities for OTC Cough, Cold, and Allergy Medicine Market Growth
Healthcare organizations around the world are deploying digital tools to accommodating changing consumer preferences. They are pressing on solving the long-standing challenge pertaining to care model innovation.

Considering this, the focus on making healthcare affordable and more transparent will increase. Adoption of care model innovation in healthcare will have a profound impact on the OTC Cough, Cold, and Allergy Medicine market.

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Key Takeaways from Market Study

• Global OTC cough, cold, and allergy medicine market to top US$ 60 Bn by 2031.
• Bronchodialators projected to reach valuation of around US$ 25 Bn by 2031.
• Antihistamine projected to record above 4% CAGR over next 10 years.
• Market in APEJ holds share of more than 40%.
• Market in South Korea expected to reach valuation of US$ 15 Bn by 2031.
• Market in Australia to record 3% CAGR over forecast period of 2021- 2031.

"Increasing investments by public and government bodies in the healthcare sector, higher availability of a wide range of products, and easy access to self-administered drugs for minor allergies and illnesses are positively impacting sales of OTC cough, cold, and allergy medicines," says a Fact.MR analyst.

Market Snapshot

As per latest industry analysis published by Fact.MR, the global OTC cough, cold, and allergy medicine market was valued at around US$ 35 Bn in 2020, and is expected to accelerate at a CAGR of over 5.5% through 2031. Demand for bronchodialators is set to increase at a CAGR of 5% across the assessment period of 2021 to 2031. Overall, the worldwide OTC cough, cold, and allergy medicine market is projected to expand 1.7X over the decade.

Market Size Value in 2020 US$ 35 Bn
Market Forecast Value for 2031 US$ 60 Bn
Projected Global Growth Rate (2021 to 2031) 5.5% CAGR
Share of Top 5 Companies 40%

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Key Segments in OTC Cough, Cold, and Allergy Medicine Industry Research

· Drug Type
•
o OTC Antihistamine
o OTC Expectorants
o OTC Bronchodialators
o OTC Antibiotics
· OTC Channel
•
o Sales of OTC Cough, Cold & Allergy Medicines via Pharmacies
o Drug Store Sales of OTC Cough, Cold & Allergy Medicines
o Modern Trade Sales of OTC Cough, Cold & Allergy Medicines
o Online Sales of OTC Cough, Cold & Allergy Medicines
· Dosage
•
o OTC Cough, Cold & Allergy Medicine Capsules
o OTC Cough, Cold & Allergy Medicine Liquid
o OTC Cough, Cold & Allergy Medicine Tablets
o OTC Cough, Cold & Allergy Medicine Lozenges
o Others
 OTC Liquid Cough, Cold & Allergy Solutions
 OTC Liquid Cough, Cold & Allergy Drops
 OTC Liquid Cough, Cold & Allergy Granules
 OTC Liquid Cough, Cold & Allergy Syrup
 OTC Liquid Cough, Cold & Allergy Pills
· Application
•
o OTC Cough, Cold & Allergy Medicines for Babies
o OTC Cough, Cold & Allergy Medicines for Adults
o OTC Cough, Cold & Allergy Medicines for School-age Children

Competitive Landscape

The market is hugely competitive with a number of top OTC cough, cold, and allergy medicine manufacturers. Few major players currently dominate the market in terms of revenue share.
Personalized patient care and access to complete end-to-end medical device products and services are now available from healthcare service providers and top companies in the OTC cough, cold & allergy medicine market.

Mid-size and smaller businesses, on the other hand, are expanding their market presence by introducing new products at lower prices, thanks to technological advancements and product innovation.

According to the survey data, majority of people around the world want their cough, cold, and allergy remedies to be more effective and safe. Growing consumer awareness of these products has also driven market growth.

Furthermore, increased market competition leads to the development of products with improved effectiveness and a variety of safe ingredients. Government initiatives, growing adoption of innovative products, and improved healthcare facilities are expected to fuel OTC cough, cold, and allergy medicine market growth over the decade.

Report Benefits & Key Questions Answered

• OTC Cough, Cold, and Allergy Medicine Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
• OTC Cough, Cold, and Allergy Medicine Historical volume analysis: The report provides a comparison of OTC Cough, Cold, and Allergy Medicine's historical sales and projected sales performance for 2021-2031.
• OTC Cough, Cold, and Allergy Medicine Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the OTC Cough, Cold, and Allergy Medicine market. It carefully gauges the impact of changing healthcare needs of key demographics globally
• OTC Cough, Cold, and Allergy Medicine Consumption by demographics: The report investigates consumer behavior affecting OTC Cough, Cold, and Allergy Medicine demand outlook for the assessment period. Effect of their keenness for digital trends on OTC Cough, Cold, and Allergy Medicine market is carefully analyzed
• Post COVID consumer spending on OTC Cough, Cold, and Allergy Medicine: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting OTC Cough, Cold, and Allergy Medicine market growth.

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More Valuable Insights on OTC Cough, Cold, and Allergy Medicine Market

Fact.MR, in its new report, offers an unbiased Market Analysis of OTC Cough, Cold, and Allergy Medicine, Sales and Demand of OTC Cough, Cold, and Allergy Medicine, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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