Global Cough Syrup Market Report and Forecast 2024-2032

Global Cough Syrup Market Outlook

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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The Asia Pacific and the Latin America Region to Propel the Market Growth of Cough Syrup

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 Syrup: Market Segmentation

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

• Expectorants

• Cough Suppressants

• Combination Medications

• Others

Market Breakup by Population Type

• Paediatric

• Adults

Market Breakup by Distribution Channel

• Hospital Pharmacy

• Retail Pharmacy

• Online Channel

• Public Channel

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

The Increasing Demand for Smokeless Tobacco to Aid the Market Growth of Cough Syrup

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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Key Players in the Global Cough Syrup Market

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:

• Acella Pharmaceuticals LLC

• Bayer AG

• GlaxoSmithKline PLC

• Johnson & Johnson

• Pfizer Inc.

• Prestige Consumer Healthcare Inc.

• Reckitt Benckiser Group PLC

• Sanofi

• Sun Pharmaceutical Industries Limited

• The Procter & Gamble Company

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.

Key Highlights of the Report