Global Cough Syrup Market 2023-2030
Market OutlookAs per Triton Market Research’s report, the global cough syrup market is projected to advance at a CAGR of 3.64% during the forecast period 2023-2030.
The market’s growth is determined based on several factors, including a high incidence of respiratory ailments, vulnerability to respiratory diseases among the elderly population, and innovations in cough syrups. Additionally, the rise in herbal cough syrups and ease of purchase over e-commerce channels opens new avenues for the studied market.
However, overdose risks and stringent regulatory requirements are anticipated to impede the cough syrup market’s expansion over the forecast period.
REGIONAL OUTLOOK
The global cough market covers North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa.
The Asia-Pacific is anticipated to emerge as the fastest-growing region during the projected period. Demand for healthcare products and pharmacies is on the rise across many nations, resulting in increased availability of cough syrups for consumers. This improved accessibility is particularly significant in light of the region’s aging populations, as the elderly are more susceptible to respiratory illnesses. As the elderly demographic continues to expand, there is a growing demand for cough syrups tailored to their specific needs.
Competitive OutlookThe notable companies in the cough syrup market are GSK Plc, Pfizer Inc, Novartis AG, Reckitt Benckiser Group Plc, The Procter & Gamble Company, Sanofi SA, Cipla Limited, Kenvue Inc, AstraZeneca Plc, Acella Pharmaceuticals LLC, The Himalaya Wellness Company, Merck KGaA, Abbott Laboratories, Glenmark Pharmaceuticals Limited, and Dabur India Ltd.
Pfizer Inc is a prominent biopharmaceutical company specializing in a wide spectrum of healthcare solutions, including disease prevention, chronic ailment management, and the treatment of rare disorders. The company operates through three primary business segments: pharmaceuticals, vaccines, and consumer healthcare. Pfizer maintains a robust global footprint, with significant operations in North America, Europe, Asia, Latin America, and other regions. Its global headquarters is situated in New York City, United States.