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The global cough syrup market size attained a value of about USD 6,222.00 million in 2023, driven by increasing cases of respiratory disorders, rising geriatric population, increased investments in R&D and innovations like new flavours for newborns, are aiding the market growth. The market is further expected to grow at a CAGR of 3.8% during the forecast period of 2024-2032 to reach nearly USD 8,703.75 million by 2032.
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Due to easier availability of cough syrups at retail pharmacies, a rise in the geriatric population, and less stringent laws regarding the abuse of cough and cold medicines in the region, the Asia Pacific accounted for a significant market share in 2019, based on revenue, and is expected to maintain its significance during the forecast period as well.
However, because governments are investing in the development of healthcare infrastructure and as the number of instances of respiratory illnesses rises, LAMEA is predicted to have a substantial CAGR throughout the forecast period. Cough syrup industry growth is likely to be aided by the high market potential in unexplored emerging markets.
Cough syrups have been used since ancient times to provide temporary relief to people suffering from sneezing, coughing, and runny noses, which are typically caused by a cold, a high temperature, or allergies. Cough syrups are prescribed by doctors and can be used by both adults and children. Cough syrups contain anti-allergic and mucolytic medicines, which give speedier relief from cough-related difficulties. It often inhibits the heavy mucus layer, allowing the patient to breathe normally and comfortably.
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Market Breakup by Product Type
Market Breakup by Population Type
Market Breakup by Distribution Channel
Market Breakup by Region
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. In addition, the demand for cough syrup in the worldwide market is driven by the proportion of the geriatric population who are mostly suffering from chest-related issues. The simple availability of products in clinics is another element contributing to cough syrup's growing market share in the worldwide market. 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. In addition, cough syrup innovation in terms of flavour for newborns gives potential in the worldwide cough syrup industry. The growing public awareness also lays the groundwork for future global commercial potential.
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The report gives a detailed analysis of the following key players in the global cough syrup market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product Type |
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Breakup by Population Type |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global market for cough syrup attained a value of USD 6,222.00 million.
The market is anticipated to grow at a CAGR of 3.8% during the forecast period of 2024-2032 to reach a value of USD 8,703.75 million by 2032.
The major drivers of the industry, such as increasing cases of respiratory disorders, rising geriatric population, increased investments in R&D and innovations like new flavours for newborns, are aiding the market growth.
The key market trend guiding the growth of the industry includes growing government investment and healthcare infrastructure.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant product types in the market include expectorants, cough suppressants, and combination medications.
The different age groups in the market for cough syrup are paediatric and adult.
The leading distribution channels in the market are retail pharmacy, hospital pharmacy, and online pharmacy.
The major players in the industry are Sanofi, GlaxoSmithKline plc, Mankind Pharma Ltd., Novartis AG, and Reckitt Benckiser Group Plc, among others.
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