According to the report published by Allied Market Research, the global Cough Remedies Market generated $7.08 billion in 2020, and is anticipated to reach $9.91 billion by 2030, manifesting a CAGR of 3.4% from 2021 to 2030. The study offers an in-depth analysis of the market size, current trends, and future estimations.
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Covid-19 impact on global cough remedies market:
- Increase in strict government rules regarding lockdowns led to reduced growth of the market.
- Introducing new products that can help fight the advent of the COVID-19 virus boosted the market.
- There has been a growth in research activities to treat cough caused by the virus, which is anticipated to boost the growth of the global cough remedies market in the post-Covid world.
The report segments the global cough remedies market on the basis of product type, age group, distribution channel, and region.
Rise in geriatric population, surge in vehicle pollution, increase in demand for over-the-counter medicines, rise in R&D activities, and surge in awareness about medicines are expected to help the cough remedies market generate more revenue in the coming years. In addition, rise in a number of testing and research facilities especially in the field of biotechnology and pharmaceutical companies adds to the significant market growth.
On the other hand, strict regulations concerning the efficiency of cough remedies hinder the market growth. Contrarily, rise in incidences of conditions attacking the respiratory system opens doors of opportunities for the growth of the market in coming years.
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Cough is induced due to response when respiratory system is attacked by certain antigens entering the body, which include dust, bacteria, virus, or other substances that cause irritation in the respiratory tract. This creates an immune response and causes difficulty in breathing; the alveoli get clogged with fluid or leads to formation of pus. According to the severity of cough, medications are to be given. For instance, if an individual is suffering from dry cough, expectorants are suggested. Major causes of cough include bacteria, fungi, viruses, and other bacteria-like organisms. Cough remedies include medications such as antihistamines that can help in management of inflammation. Cough can be life-threatening and can be particularly lethal for infants, children, and individuals over 65. Most common signs that help diagnose cause of cough include analysis of color of mucus secreted, which varies from yellow or even bloody mucus to greenish mucus.
The outbreak of COVID-19 led to surge in mortality rates and hence was declared to be a pandemic. In addition, it has led to a drastic change in the market scenario. Healthcare workers, equipment, and facilities have been converged to cope with the rising number of patients, owing to the COVID-19. Furthermore, the pandemic caused major impediments in pharmaceutical and medical supply chain globally. Cough remedies were the need of the hour to help combat with the growing demand for therapeutic alternatives for cough symptoms caused during exposure to COVID-19 virus. In addition, increase in investments on research during the period led to growth of the cough remedies market during the forecast period. Growth is attributed to the fact that individuals suffering from COVID-19 are highly susceptible to develop cough symptoms. As COVID-19 progresses, air sacs become filled with fluid leaking from tiny blood vessels in lungs. This causes shortness of breath and can lead to cough. However, government aided researches for cough remedies continues to propel the cough remedies market throughout the forecast period. Moreover, increase in awareness regarding need to have cough remedies propels the market growth.
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Based on region, Asia-Pacific contributed to the highest share in 2020, followed by Europe and North America, holding nearly two-fifths of the total share and is expected to maintain dominance throughout the forecast period. On the other hand, LAMEA is expected to portray the fastest CAGR of 4.5%during the forecast period.
Leading players of the global cough remedies market analyzed in the research include Astrazeneca PLC (Astrazeneca), GlaxoSmithKline PLC, Prestige Brands, Inc., Reckitt Benckiser Group PLC., Bayer Ag, Novartis AG, Procter & Gamble, Johnson & Johnson, Pfizer, Inc., and Sun Pharmaceuticals Industries Limited.
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