The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Cough Remedies Global Market Report 2023, the cough remedies market is expected to show promising growth in the forecast period.

Market Overview

• 2023 Market Size: $10.19 billion
• 2024 Projected Market Size: $11.06 billion
• CAGR (2023-2024): 8.6%

The cough remedies market has demonstrated robust growth due to factors such as increasing government healthcare expenditure, rising awareness of natural remedies, and growing vehicle emissions. The market is projected to expand significantly in the coming years.

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Future Market Growth

• 2028 Projected Market Size: $15.44 billion
• CAGR (2024-2028): 8.7%

The forecasted growth is driven by the rising prevalence of respiratory diseases, an aging population, and ongoing innovations in cough treatments. The demand for over-the-counter (OTC) products and increasing air pollution further contribute to this growth.

Key Drivers and Trends

• Respiratory Diseases: The increase in respiratory diseases is a major driver for the cough remedies market. Conditions such as asthma and chronic obstructive pulmonary disease (COPD) are prevalent due to environmental pollutants and lifestyle factors. For example, in 2021, approximately 25 million people in the U.S. had asthma, and 15.6 million adults reported being diagnosed with COPD.
• Innovation in Herbal Cough Syrups: Companies are developing herbal cough syrups to offer natural and effective remedies. For instance, Ernest launched HoneyKof Herbal Cough Syrup in April 2021. This honey-based, non-drowsy syrup is made from natural ingredients like ginger, basil leaves, and liquorice, providing a soothing alternative to conventional cough remedies.
• Strategic Acquisitions: GSK plc’s acquisition of BELLUS Health Inc. in June 2023 is a key market development. This acquisition enhances GSK’s respiratory portfolio with BELLUS’s P2X3 antagonist, aimed at treating chronic cough.

Market Segmentation

• By Product Type:
  • Expectorants
  • Antihistamines
  • Bronchodilators
  • Decongestants
  • Antibiotics
• By Dosage Form:
  • Oral Syrup
  • Tablets or Pills
  • Nasal Drops
  • Lozenges
• By Age Group:
  • Pediatric
  • Adult
• By Distribution Channel:
  • Retail Pharmacy
  • Hospital Pharmacy
  • Other Pharmacies

Regional Insights

• North America: Was the largest market in 2023 due to advanced healthcare systems and high consumer demand for cough remedies.
• Asia-Pacific: Expected to be the fastest-growing region in the forecast period, driven by increasing healthcare access and rising pollution levels.

Conclusion
The cough remedies market is set for substantial growth, fueled by the rising incidence of respiratory diseases, innovation in natural and OTC products, and strategic industry developments. As the market evolves, investments in new technologies and strategic partnerships will likely continue to drive advancements in cough treatment solutions.

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