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Global Cough Syrup Market Expected to Grow at a CAGR of 3.8% During 2021-2026, Driven by Rising Respiratory Disorders

According to a new report by EMR titled, 'Global Cough Syrup Market Report and Forecast 2021-2026', the global market for cough syrup attained about USD 5,572 million in 2020. The market is further expected to grow at a CAGR of 3.8% in the forecast period of 2021-2026 to attain nearly USD 7,050 million by 2026.

The rise in respiratory problems is driving the worldwide cough syrup industry forward. In addition, the growing elderly population and severe air pollution are propelling the industry growth. Cough syrup market expansion, on the other hand, is likely to be aided by the significant market potential in underdeveloped emerging nations. The easy availability of the product via various distribution channels, such as retail pharmacy, hospital pharmacy, and online pharmacy, is aiding the market growth. The market is further expected to enhance due to rising levels of pollution in the urban areas in developing countries over the forecast period.

The market is pushed by developments by global players, such as GlaxoSmithKline plc (NYSE: GSK), Sanofi (NASDAQ: SNY), and Merck KGaA (US). Merck KGaA (US) committed roughly USD 70 million in February 2019 to enhance its research and development operations in Billerica, Massachusetts, in order to provide novel clinical cough-related medicines. GSK Consumer Healthcare launched Robitussin Naturals, the first-ever range of drug-free products, in October 2020. These items are designed to help those who have a cough every now and then. Such developments in the industry are expected to boost market growth over the forecast period.

Market Analysis by Product Type, Age Group, Distribution Channel, and Region:

  • The market is segmented in terms of product type into expectorants, cough suppressants, and combination medications.
  • On the basis of age group, the market is bifurcated into paediatric and adult.
  • In terms of distribution channel, the market is divided into retail pharmacy, hospital pharmacy, and online pharmacy.
  • The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global demand for cough syrup is steadily rising, owing to a growth in the number of people suffering from chronic and acute respiratory disorders, such as asthma, and the growing geriatric population.
  • The easy access of products in clinics is another element contributing to the cough syrup's growing market share globally.
  • During the forecast period, the expanding research and development in the cough syrup industry are expected to create numerous growth chances in the worldwide market creating innovations, such as new flavour syrups for new-borns.
  • The growing public awareness is also driving growth for the global cough syrup industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for cough syrup for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the product types, age groups, distribution channels, and major regions of cough syrup. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

Sanofi, GlaxoSmithKline plc, Mankind Pharma Ltd., Novartis AG, and Reckitt Benckiser Group Plc, among others, are the key players in the global cough syrup market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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