Industry Background:
Cough Syrups is the type of medication that is used while coughing. It includes various ingredients such as codeine. This is the main ingredient in cough syrups. This is basically a mild opioid narcotic. With the increasing number of diseases related to the lungs and others are creating huge strong potential for the future.
According to AMA Research, the market for Cough Syrup is expected to register a CAGR of 3.7% during the forecast period to 2030. This growth is primarily driven by Increase geriatric population is driving the demand of the global cough syrup market. With continuing drops in death rates among older people, the ratio of the aged 80 or older is rising at higher rate across the globe, and more & more people are living past 100. Along with that increase in pollution is a major hassle and create more disease to the old people because of their low immunity systems. This creates the incidence of respiratory illnesses also increases..
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Supplies sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Pfizer (United States), Atley Pharmaceuticals (United States), Vertical Pharmaceuticals (United States), Novartis (Switzerland), Merck (United States), Johnson & Johnson (United States), Toray Industries (Japan), GlaxoSmithKline PLC (United Kingdom), Acella Pharmaceuticals, LLC (United States) and Procter & Gamble (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In September 2021, Sun Pharma launched a novel formulation in cough management, Chericof 12, in India. Chericof 12 is the first prescription cough syrup in India which gives relief for up to 12 hours.
In Feb 2019, Merck announced the expansion of its research and development facility in Billerica, Massachusetts. The company disclosed that it is investing near about USD 70 million to produce a robust clinical pipeline. Through this, the company is aiming to become more competitive in the market and highly focus on its business growth strategies.The global cough syrups market is seeing strong competition and consists of some major drug manufacturers in this industry. In concern of the market share, the companies are investing in the advancement of the product such as the production of cough syrups in various flavors and others.
Influencing Trend:
Increasing Competitions Among Competitors and Increasing Investment in Research and Development Initiatives
Market Growth Drivers:
Increase geriatric population is driving the demand of the global cough syrup market. With continuing drops in death rates among older people, the ratio of the aged 80 or older is rising at higher rate across the globe, and more & more people are living past 100. Along with that increase in pollution is a major hassle and create more disease to the old people because of their low immunity systems. This creates the incidence of respiratory illnesses also increases.
Challenges:
Weak Distribution Channels in Underdeveloped Regions
Restraints:
Increasing Presence of Substitute Products Such as Tablets for Coughs
Opportunities:
Increasing Death Rate Across the Globe Because Of Increasing Smoking Activities and Rising Presence of Drugs Manufacturers Worldwide Majorly in Asia Pacific Regions
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Cough Syrup Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Cough Syrup Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Cough Syrup players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Cough Syrup Study Sheds Light on
The Cough Syrup Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Cough Syrup industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Cough Syrup industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.