Trend Analysis: Global Cough Syrup Market Forecast, 2023-2030

Triton's research report shows that the global cough syrup market garnered $5995.46 million in 2021 and is estimated to advance at a CAGR of 3.27% by 2028.

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

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According to Triton's analysis, the global market for cough syrup is anticipated to grow at a compound annual growth rate (CAGR) of 3.27% from 2022 to 2028. By 2028, it is projected to generate $7530.40 million in sales.

Cough syrups are used to treat upper respiratory tract infection-induced coughs. Cough syrups are also necessary for a number of other disorders, such as asthma, lung diseases, and chronic problems.

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Air pollution from motor vehicle and industrial pollutants is increasing due to rapid urbanization and rising energy use. This accelerates the onset of respiratory conditions such as wheezing and coughing, hence raising the demand for cough syrups. In addition, the risk of respiratory diseases is increased by smoking, being overweight or obese, and having chronic obstructive pulmonary disease. These factors encourage the cough syrup industry's growth.

Cough syrup has codeine as one of its ingredients. It is an opioid medication used to suppress cough and alleviate minor pain. Teens, however, abuse and overindulge in it, treating it like a drug addiction. Thus, the market's expansion is hindered by stringent government laws and prohibitions on the manufacturing of cough syrups containing codeine.

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The cough syrup market is classified into three segments: product type, age group, and distribution channel. Expectorants, combination medicines, and cough suppressants/antitussives are the three types of products classified further. The age groups are divided into pediatric and adult. The distribution route is made up of hospitals, retail stores, and online pharmacies.

Geographically, the cough syrup market is expected to grow at the fastest rate in the Asia-Pacific area, where it is expected to remain dominating until 2028. There are numerous environmental, social, and economic elements that affect the people living in the region's respiratory health. Since infections, smoking, and air pollution are the main causes of respiratory issues, cough syrup is becoming more and more popular. Moreover, asthma affects a significant section of the population and is the leading cause of mortality. The local cough syrup market's growth is influenced by these variables.

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

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Question & Answer: Cough Syrup Market

Question 1: What factors augment the growth of the cough syrup market?
Answer: With fast-paced urbanization and increased energy consumption, air pollution from industrial and motor vehicle emissions is increasing rapidly. This accelerates the prevalence of respiratory diseases such as wheezing, coughing, etc., thus boosting the demand for cough syrups. Besides this, overweight/obesity, smoking, and chronic obstructive pulmonary disease also increase the risk of respiratory disease. Such factors augment the growth process of the cough syrup market.

Question 2: What factors impede the cough syrup market's growth?
Answer: Codeine is an ingredient used in the making of cough syrup. It is an opioid drug that treats mild pain and acts as a cough suppressant. However, it is misused and over-consumed by teens as drug addiction. Therefore, strict government regulations and restrictions on producing cough syrups containing codeine impede the market's growth.

Question 3: Which region is likely to have the fastest growth in the cough syrup market?
Answer: Geographically, the Asia-Pacific is likely to have the fastest growth in the cough syrup market and is expected to continue its stronghold till 2028. The respiratory health of people within the region is highly influenced by diverse economic, social, and environmental factors. The most common causes of respiratory issues lie with smoking, air pollution, and infection, raising the demand for cough syrup. Moreover, a large number of the population suffers from asthma which is the leading cause of death. Such factors influence the growth of the cough syrup market in the region.

Question 4: Which are the notable companies in the cough syrup market?
Answer: The notable companies listed in the global cough syrup market include AstraZeneca Plc, Pfizer Inc, Glaxosmithkline, Acella Pharmaceuticals LLC, Glenmark Pharmaceuticals Limited, Novartis International AG, Johnson and Johnson, Dabur India Ltd, Reckitt Benckiser Group Plc, Proctor and Gamble Co, Cipla Limited, Abbott Laboratories, Merck KGAA, Sanofi SA, and The Himalaya Drug Company.

Related Report

Global Nasal Spray Market-
https://www.tritonmarketresearch.com/reports/nasal-spray-market

The global nasal spray market will reach $40.15 billion by 2028 while growing at a CAGR of 8.47% during the forecast period 2021-2028. It gathered $18.28 billion worth of revenue in 2020.

The nasal spray market is driven by factors such as rising acceptance of self-administration of medication, emerging intranasal vaccines for COVID-19, and growing use of nasal sprays due to simple administrative techniques. A nasal spray is usually used for allergic irritation as it reduces the possibility of drug interactions and systematic side effects.

However, the excess use of nasal spray leads to complications that negatively affect the market's growth. The spray's continuous or overuse can damage the nose and cause breathing problems. But the growing use of intranasal treatments for central nervous system disorders presents profitable opportunities for the market.

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