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

Triton's research report shows that the global cough syrup market garnered $5501.63 million in 2022 and is estimated to advance at a CAGR of 3.64% by 2030.

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 Market Research's report, the Global Cough Syrup Market is likely to grow with a CAGR of 3.64% over the forecast period 2023-2030. The market was valued at $5501.63 million in 2022 and is expected to reach a revenue of $7332.12 million by 2030.

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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Rapid urbanization and increased energy use are contributing to an increase in air pollution from automobiles and industrial emissions. Cough syrup consumption rises as a result of the accelerated development of respiratory illnesses including wheeze and coughing. In addition, the chance of developing respiratory disorders is increased by smoking, being overweight or obese, and having chronic obstructive lung disease. These elements support the growth of the cough syrup industry.

One of the ingredients in cough syrup is codeine. It's an opioid medication used to relieve minor pain and coughs. Teenagers, on the other hand, misuse it and overindulge in it, treating it like a drug addiction. Therefore, strict government regulations and bans on the manufacturing of cough syrups containing codeine hinder the expansion of the industry.

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The cough syrup market is divided into three segments: product type, age group, and distribution channel. Expectorants, combination medications, and cough suppressants/antitussives are the three other product categories. The age ranges are classified as pediatric and adult. The distribution route consists of hospitals, retail outlets, and online pharmacies.

Geographically, the cough syrup market is predicted to develop the quickest in Asia-Pacific, where it will continue to dominate until 2028. A variety of environmental, social, and economic factors influence the respiratory health of the region's residents. Because infections, smoking, and air pollution are the leading causes of respiratory problems, cough syrup is becoming increasingly popular. Furthermore, asthma affects a large percentage of the population and is the primary cause of death. These characteristics influence the growth of the local cough syrup market.

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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