Cough Remedies Market Will Dominate The Industry | At a CAGR of 3.4%

The global cough remedies market size was valued at $ 7084.5 million in 2020, and is projected to reach $ 9911.2 million by 2030.

PORTLAND, OREGON, UNITED STATES, August 18, 2022 /EINPresswire.com/ -- 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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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.

Rise in incidences of respiratory disorders such as chronic obstructive pulmonary disorder (COPD), asthma, pneumonia, and other severe respiratory infections acts as a key driving factor for growth of the global cough remedies market. Furthermore, increase in product launches post FDA approval would help the industry gain maximum revenue. Surge in clinical trials for R&D of cough remedies is further projected to help the industry grow during the forecast period. According to the statistics given by the Indian Journal of Medical Research in 2020, community acquired pneumonia is found to be one of the prominent causes of mortality and morbidity with important clinical impacts worldwide. India accounts for 23% of the global pneumonia burden with case fatality rates between 14% and 30% in 2020.

The prevalence rate is expected to alarm civil population and create awareness regarding the need to opt for therapeutics for cough at early stages, and help the cough remedies market to generate higher revenue during the forecast period. In addition, increase in number of ongoing clinical trials for development of medications and drug molecules contributes toward the market growth. However, enforcement of stringent regulations for medications for cough, which hampers the market growth.

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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.

On the basis of product type, the expectorants segment is anticipated to garner highest revenue during the forecast period, owing to increase in incidences of respiratory diseases, and surge in demand for drugs from individuals suffering from respiratory disorders. In addition, owing to increase in awareness regarding need for early medications due to exposure to infection also help the treatment drugs segment generate higher revenue during the forecast period.

On the basis of age group, the geriatric segment is anticipated to gain highest revenue segment during the forecast period, owing to surge in geriatric population worldwide. Furthermore, susceptibility to develop age-associated diseases promotes the market growth. In addition, rise in healthcare spending related to respiratory diseases is expected to help the segment grow during the forecast period.

North America is projected to account for a significant share of the global cough remedies market during the forecast period. The market growth is attributed to surge in healthcare expenditure and rise in patient population in the region. In addition, Asia-Pacific is projected to gain fastest CAGR during the forecast period, owing to presence of large patient population and rapid infrastructural development in the region. In addition, rise in government investments over research and development of medications is expected to propel growth of the market in the region.

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KEY FINDINGS OF THE STUDY

Depending on product type, the expectorant segment held largest share in the global market in 2020.

On the basis of distribution channel, the hospital pharmacy segment experienced the highest revenue in 2020, and is expected to continue to grow throughout the forecast period.

By age group, the geriatric segment garnered the largest market share in 2020, and is expected to remain dominant throughout the forecast period.

Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 4.0% during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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