What Is Cough Syrup Market and Why Is Everyone Talking about It?

Cough and cold medicines commonly available across the market contain decongestants, antitussives, antihistamines, expectorants, and antipyretics. Parents give cough and cold medicine to temporarily relieve symptoms of respiratory infections in children, including runny nose, congestion, cough, and fever. Some doctors suggest that drinking water is the best way to clear the nose, but medicines such as guaifenesin can also be used. This medicine makes the nose soft, so it is easy to get out. If a person has a dry cough, dextromethorphan can provide relief. In general, cough syrups and cough medicines are not used to prevent coughing while coughing. Productive cough syrup helps clear mucus and mucus from the air.
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. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

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• CAGR: 2.8%
• Current Market Size: USD 5.23 Billion
• Forecast Growing Region: APAC
• Largest Market: North America
• Projection Time: 2020- 2027
• Base Year: 2020

The increasing number of patients with respiratory diseases, the development of cough syrups and the increasing elderly population are driving the growth of the global cough medicine market. On the other hand, the misuse of cough medicine and strict laws and certain regulations in developed countries restrict growth to some extent. However, it is expected that new developments in the market will create new opportunities in the coming years.

Covid-19 scenario-
• The corona virus outbreak has had a mixed impact on the global cough syrup market. The sale for cough syrup primarily took a leap, as this over-the-counter drug has been widely used for patients with sneezing, common cold, runny nose, and other respiratory allergies.
• However, a new research paper published in the journal Nature found that dextromethorphan might intensify the replication of SARS-CoV-2, the virus that causes COVID-19. A cough syrup ingredient has pro-viral properties and as per scientists, it should be avoided by people infected by the covid-19 virus.
• Simultaneously, the manufacturers happened to face several challenges related to high cost of raw materials and shortage of supply during the lockdown.

The global cough syrup market is analyzed across product type, age group, distribution channel, and region. Based on product type, the cough suppressant segment contributed to more than half of the total market share in 2019, and is estimated to dominate during the forecast period. At the same time, the combination medication segment is expected to manifest the fastest CAGR of 3.8% from 2020 to 2027.

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Based on age group, the adult segment accounted for nearly four-fifths of the global cough syrup market revenue in 2019, and is projected to lead the trail throughout the forecast period. The same segment would also exhibit the fastest CAGR of 3.2% by 2027.

Based on region, Asia-Pacific garnered the major share in 2019, generating nearly two-fifths of the global market. Simultaneously, the market across LAMEA would showcase the fastest CAGR of 3.9% from 2020 to 2027.The other two regions covered the report include Europe and North America.

The leading market players analyzed in the global cough syrup market report include Pfizer, Inc.,
Merck KGaA,
Abbott Laboratories,
Novartis AG,
GlaxoSmithKline PLC,
Sanofi,
Johnson & Johnson Services, Inc.,
Acella Pharmaceuticals, LLC,
Reckitt Benckiser Group PLC,
and Procter & Gamble.

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