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Cough Remedies Market 2024 - Growth Size, Business Opportunities, Trends, Regional Overview, Leading Companies And Forecast To 2033
Cough Remedies Market
According to The Business Research Company's, The cough remedies market size has grown strongly in recent years. It will grow from $10.19 billion in 2023 to $11.06 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to rising government healthcare expenditure, growing awareness of natural cough remedies, increased vehicle emissions.
The cough remedies market size is expected to see strong growth in the next few years. It will grow to $15.44 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to rising prevalence of respiratory diseases, growing geriatric population, innovation in cough treatments, high demand for otc products, increasing air pollution, growing awareness of self-care. Major trends in the forecast period include investments, company partnerships, ozenge and candy innovations.
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Market Drivers and Trends:
The rising respiratory diseases are expected to propel the growth of the cough remedies market going forward. Respiratory diseases encompass a broad spectrum of conditions that affect the organs and tissues involved in breathing and gas exchange in air-breathing animals. The rising respiratory diseases are due to increased exposure to environmental pollutants, overcrowded living conditions, and increased emission of smoke by vehicles. Cough remedies such as expectorants help thin mucus in the airways, making it easier for patients to clear their lungs through coughing. This can help alleviate discomfort and promote healing, especially in patients with sore throats or irritated airways. For instance, in 2021, according to the National Centre for Environmental Health, a US-based health agency, about 25 million (7.7% of the U.S. population) had asthma in 2021, an increase from 20.3 million, or 7.4% compared to the previous decade. Additionally, in June 2023, according to the American Lungs Association, a US-based health agency, about 15.6 million adults (6.4 percent) reported ever being diagnosed with COPD in 2021. Therefore, rising respiratory diseases drive the cough remedies market.
Major companies operating in the cough remedies market are developing innovative products, such as herbal cough syrups, to advance the product offering and elevate the treatment procedure. Herbal cough syrup is a cough remedy made from natural ingredients derived from plants that utilize herbal extracts, botanicals, and other plant-based ingredients known for their soothing and expectorant properties. For instance, in April 2021, Ernest, a Ghana-based pharmaceutical company, launched HoneyKof Herbal Cough Syrup. This syrup is a honey-based, non-drowsy, sugar-free formula that provides fast relief from cough, sore throat, and throat irritation. The product is made from natural ingredients such as honey, ginger, basil leaves, violets, long pepper, and liquorice, which have been trusted remedies for years.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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Major Key Players of the Market:
Pfizer Inc., The Procter & Gamble Company (P&G), Johnson & Johnson Inc., Merck & Co. Inc., Bayer AG, Sanofi S.A., AstraZeneca Plc, Novartis AG, GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Reckitt Benckiser Group, Perrigo Lab India Private Limited, Prestige Brands Holdings Inc., Hyland's Inc., Boiron, Chattem Chemicals Inc., Tris Pharma Inc., Mayne Pharma Inc., Zarbee's Inc., Genexa Inc.
Cough Remedies Market 2024 Key Insights:
• The cough remedies market size is expected to see strong growth in the next few years. It will grow to $15.44 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
• Driving Factors Behind The Growth Of The Cough Remedies Market Amid Rising Respiratory Diseases
• Innovation In Herbal Cough Syrups By Leading Market Players
• North America was the largest region in the cough remedies market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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