The global cough remedies market size is expected to grow at a CAGR of 7.1% over the forecast period. The market is projected to exhibit moderate growth over the forecast period, which can be attributed to factors such as humid climate, unhealthy lifestyle, and rising disease incidence.
Cough is a common disease condition, affecting millions of people worldwide. As per the World Health Organization, in 2018, there were 151,074 pertussis cases reported globally. Pertussis that is whooping cough is a common endemic disease in the United States. Thus, the growing disease burden offers a promising future for the global market. Although some studies suggest that the risk of developing cough may be increased due to other certain factors such as asthma, smoking, hot and humid climate, and viral or bacterial infection can trigger the condition.
As per the WHO, cough condition is ranked as the most prevalent disease across the globe. Most of the novel products are reformulated drugs with improvised vehicles or combinatorial therapies. The treatment algorithm is witnessing a paradigm shift from small molecules towards natural therapies and biologics. Combination therapies have also been gaining popularity over the last few years. Most industry-sponsored products are in clinical trials.
In addition, key players are focusing on making cough syrup of pleasant taste and easy intake for oral use. The growing disease burden includes majority of pediatric population as they have lower immunity level compared to adults. Most pediatric patients prefer liquid as dosage forms. Growing demand of cough remedies is driven by the presence of routinely monitored formulations, technological advancement in the field of drug delivery systems, and increasing awareness amongst patients. However, side effects associated with cough remedies may restrict the market growth.
Key Market Trends
The Oral Syrup Dominates the Dosage Form Segment of the Market and is Expected to Continue the Same during the Forecast Period
The oral syrup dominates the dosage form segment of the market owing to new product development and the presence of a strong pipeline. Factors such as high efficacy, a higher rate of bioavailability, and rapid delivery of drugs are expected to propel segment growth. The oral route of administration is effective against drugs with medium to high oral bioavailability.
Oral therapies minimize the use of central lines for intravenous drug administration and thereby reduce the risk of complications associated with it as well as a hospital stay. The development of promising new drugs and potential clinical pipeline candidates are some of the major factors expected to drive segment growth.
The high growth potential attained is a consequence of positive patient outcomes associated with oral remedies.
The North America Dominates the Market and is Expected to Continue the Same during the Forecast Period
North America is leading owing to the presence of major market players. Several collaborative efforts were undertaken by major companies to enhance their R&D capabilities and ensure high medical standards are anticipated to impel the demand across this region. Moreover, the majority share can also be attributed to the high disease burden in this region. Increasing cases of cough and rising pediatric population are the key factors that are driving the market studied in this region.
The Asia-Pacific is expected to witness the fastest growth over the forecast period. Strategic partnerships between pharmaceutical companies and government organizations are on a rise in the region, particularly to develop generic drugs and spread awareness amongst healthcare professionals. Increasing awareness levels and rising focus of healthcare providers on the eradication of coughing ailments are expected to boost growth within the region. This makes the Asia pacific market highly lucrative.
Competitive Landscape
The market for cough remedies is highly competitive and consists of several global as well as local players. Investment for the development of effective & long-acting products with lesser adverse effects and improving geographic penetration through partnerships and collaborations are the key strategies adopted by the companies to increase their market share.
The major players include companies such as Johnson & Johnson, Bayer, Reckitt Benckiser Group plc, GlaxoSmithKline plc, Pfizer, Novartis, Sun Pharmaceutical Industries Ltd, Prestige Consumer Healthcare, AstraZeneca.
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