Triton Market Research’s report estimates that the cough syrup market in North America is set to garner a compound annual growth rate of 2.91% over the forecast phase from 2023 to 2030. Canada and the United States are studied in the given region.
The escalating pollution levels in the United States undeniably contribute to a rise in respiratory illnesses among its population. This predicament arises from various sources, including car emissions, industrial operations, and the burning of fossil fuels. As industrialization and urban expansion persist, air pollution has become a pervasive concern. The detrimental impact on respiratory well-being results from exposure to harmful substances like fine particulate matter (PM2.5), ozone, and various airborne toxins. Such factors play a vital role in elevating the demand for cough syrups, simultaneously boosting the market’s growth.
As Canada’s pharmaceutical sector experiences growth and garners increased investments in R&D, there is a growing emphasis on diversifying its pharmaceutical product portfolio, including the production of cough syrups. This expanded domestic manufacturing capacity can engender various factors that contribute to an upsurge in the demand for cough syrups, thereby creating opportunities for the Canadian market.
Competitive Outlook
The prominent companies in the cough syrup market include GSK Plc, Reckitt Benckiser Group Plc, Pfizer Inc, Novartis AG, and Sanofi SA.
1. North America Cough Syrup Market - Summary
2. Industry Outlook
2.1. Impact Analysis On The Cough Syrup Market
2.1.1. Covid-19 Impact
2.1.2. Ukraine-russia War Impact
2.2. Porter’s Five Forces Analysis
2.2.1. Threat Of New Entrants
2.2.2. Threat Of Substitutes
2.2.3. Bargaining Power Of Buyers
2.2.4. Bargaining Power Of Suppliers
2.2.5. Threat Of Competitive Rivalry
2.3. Industry Components
2.3.1. Raw Materials
2.3.2. Manufacturers
2.3.3. Distributors
2.3.4. Retailers
2.4. Regulatory Framework
2.5. Key Market Strategies
2.5.1. Collaborations
2.5.2. Product Launches
2.5.3. Acquisitions
2.5.4. Business Divestitures & Expansions
2.6. Market Drivers
2.6.1. High Incidence Of Respiratory Ailments
2.6.2. Vulnerability To Respiratory Diseases Among The Geriatric Population
2.6.3. Innovations In Cough Syrups
2.7. Market Challenges
2.7.1. Overdose Risks Associated With Cough Syrups
2.7.2. Strict Regulatory Requirements
2.7.3. Increasing Cough Syrup Deaths Due To Toxic Ingredients
2.8. Market Opportunities
2.8.1. Self-medication Trends Increase Demand For Otc Drugs
2.8.2. Herbal Cough Syrups Emerge As A Safer Alternative
2.8.3. Ease Of Purchase Offered By E-commerce Channels
2.8.4. Availability Of Sugar-free Cough Syrups
2.8.5. Growing Preference For Homeopathic Cough Syrups
2.9. Analyst Perspective
3. North America Cough Syrup Market – By Product Type
3.1. Cough Suppressants
3.2. Combination Medicines
3.3. Expectorants
4. North America Cough Syrup Market – By Age Group
4.1. Adults
4.2. Adolescents
4.3. Pediatric
5. North America Cough Syrup Market – By Distribution Channel
5.1. Retail Pharmacies
5.2. Hospital Pharmacies
5.3. E-pharmacies
6. North America Cough Syrup Market – By Country Outlook
6.1. United States
6.1.1. United States Cough Syrup Market Forecast & Prospects