Pharmacy chains' widespread stocking fuels global sales growth, giving hard candy lozenges a commanding 60% share in the throat lozenges market

ROCKVILLE, MD, UNITED STATES, October 2, 2023 /EINPresswire.com/ -- The worldwide throat lozenges market size is anticipated to grow from its 2022 value of US$ 5.4 billion to US$ 6.5 billion by 2026, demonstrating a compound annual growth rate (CAGR) of 4.8% throughout the projected period.

Hard candy lozenges constitute roughly 60% of the total global throat lozenges market share. The widespread stocking of hard candy lozenges by pharmacy chains is expected to propel sales of these products on a global scale.

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Increasing Incidence of Respiratory Ailments Propels Market Expansion

According to Fact.MR, a prominent market research and competitive intelligence provider, the global throat lozenges market attained a valuation of US$ 5.15 billion in 2021.

A throat lozenge, alternatively known as a cough sweet, cachou cough drop, or troche, is a pharmaceutical tablet designed to dissolve slowly in the mouth, providing relief from coughing. These compact tablets alleviate sore throats by soothing and lubricating irritated throat tissues. The market's growth is primarily attributed to the rising prevalence of throat-related illnesses.

The history of throat lozenges dates back to ancient times, with their use for treating throat infections dating as far back as 1000 BC. Early iterations of throat lozenges in Egypt were crafted from a variety of materials, including honey, herbs, citrus, and spices. Smith Brothers introduced cough drops made from these ancient remedies in 1852, and Luden followed suit in 1879.

Cold and cough are prevalent health issues worldwide, and sore throat lozenges are widely used as the primary treatment option, contributing significantly to market growth. Additionally, the aging population, with its decreased immunity levels, is another key driver of market expansion.

The throat lozenges market is expected to experience a compound annual growth rate (CAGR) of 4.8% from 2022 to 2026. This growth can be attributed to the high demand for various types of throat lozenges, including those designed for cough relief, soothing dry throats, and catering to children's needs.

Key Companies Profiled:

- Bliss GVS Pharma Ltd.
- GlaxoSmithKline Plc
- Honibe
- Prestige Consumer Healthcare Inc.
- Reckitt Benckiser Group Plc
- Ricola AG
- Sanofi S.A
- Thornton & Ross Ltd.
- Traditional Medicinals, Inc.

Growing Demand for Natural and Herbal Products and Heightened Health Awareness Among Consumers

Consumer awareness of the advantages associated with using top-quality throat lozenge medications for addressing various respiratory issues is on the rise. This is contributing to the advancement of the global throat lozenges market.

Another significant factor propelling the global throat lozenges market is the escalating demand for natural and herbal products. Throat lozenges often incorporate ingredients such as ginger or honey, offering a soothing remedy for sore throats.

Over the projected period, it is anticipated that the global throat lozenges market will expand due to the increasing consciousness among consumers regarding their health.

Growing Efforts in North America to Prevent Infectious Diseases Drive Expansion of the Throat Lozenges Market

North America dominates the throat lozenges market share, primarily attributed to numerous awareness campaigns dedicated to infectious disease prevention within the region. Furthermore, the presence of several prominent throat lozenge manufacturers contributes to this dominance.

The region's cold climate, which fosters the proliferation of bacteria responsible for throat infections, also plays a favorable role in boosting market growth.

Insights by Country

Market Revenue on the Rise Due to Growing Product Variety

In 2022, the U.S. throat lozenges market reached a valuation of US$ 1.3 billion, constituting a 24.26% share of the global market. In pursuit of enhancing their research and development capabilities and upholding stringent medical standards, several prominent companies have joined forces, thus contributing to the anticipated growth of the market.

Moreover, the predominant share of the market can be attributed to elevated infection rates. The principal drivers fueling this market expansion are the increased government expenditure and the abundance of diverse product options.

Insights by Category

Rising Demand for Hard Candy Lozenges Fueled by Diverse Flavor Options and Easy Accessibility

The sales of hard candy lozenges are projected to experience a steady growth at a compound annual growth rate (CAGR) of 5.2%, reaching a market value of US$ 4.1 billion by the year 2026. This surge in popularity can be attributed to the increasing availability of hard candy lozenges in a wide array of flavors, shapes, and sizes, appealing to consumers of all age groups.

A notable preference for hard candy lozenges is observed among both pediatric and geriatric patients, contributing significantly to their substantial market share within the global throat lozenges industry.

One noteworthy aspect is that hard candy lozenges do not necessitate a prescription from medical professionals. Consumers have grown accustomed to soothing their sore throats with these lozenges rather than seeking immediate medical assistance, consequently driving up the demand for this product.

Significant Utilization of Throat Lozenges in the Management of Sore Throats

Sore throats are expected to dominate the throat lozenges market throughout the projected period. Throat lozenges are commonly recommended for individuals suffering from a sore throat, a condition that can be attributed to viral or bacterial factors, such as streptococcus infections. According to medical experts, approximately 50% of sore throats result from viral infections, while 15% to 20% are caused by bacterial infections.

Sore throats are often brought about by microorganisms like Mycoplasma pneumonia, Streptococcus, Neisseria gonorrhea, and Chlamydia pneumonia. Symptoms of a sore throat encompass throat redness, swelling, and difficulties with swallowing. The market's demand is further propelled by the emergence of promising new medications and the increasing utilization of throat lozenges as a remedy for sore throats.

Impact of COVID-19 on Throat Lozenge Sales

The global healthcare landscape was significantly affected by the COVID-19 pandemic, but it had a positive effect on the worldwide market for throat lozenges. COVID-19 is characterized by symptoms such as cough and sore throat, and the mandatory social distancing measures compelled people to self-isolate. This led to an increased demand for throat lozenges as individuals sought to manage their symptoms without frequenting hospitals.

Leading manufacturers of throat lozenges have since shifted their focus towards meeting this heightened demand with a sense of urgency and a consumer-centric approach. Consequently, there has been a notable surge in research and development efforts aimed at introducing new throat lozenge products to the market. This uptick in innovation is anticipated to drive the growth of the throat lozenge industry.

The pharmaceutical and biotechnology sectors are also expected to witness substantial growth in response to the rising demand for throat lozenges. This, in turn, is projected to exert a significant influence on the throat lozenge industry's future trajectory.

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Market Dynamics

In the competitive landscape of throat lozenge manufacturing, companies are dedicated to ongoing innovation and the introduction of new products that incorporate natural herbs and ingredients. One of the recent trends in this industry is the introduction of throat lozenge sprays, specifically designed to provide relief and comfort for individuals experiencing sore throat symptoms.

For example:

- Comvita has introduced a range of products formulated with UMF certified Manuka honey, specifically designed for children to alleviate coughs and sore throat discomfort.
- Reckitt, a renowned manufacturer of over-the-counter cough and cold remedies, has announced the release of their latest product line, Mucinex InstaSoothe, aimed at addressing sore throat concerns.

Check out more related studies published by Fact.MR Research:

Natural Cold, Cough, and Sore Throat Remedies Market: The global natural cold, cough, and sore throat remedies market accounts for a revenue of US$ 6.15 billion in 2023 and is predicted to secure a valuation of US$ 11.55 billion by the end of 2033. This latest Fact.MR market report projects global demand for natural cold, cough, and sore throat remedies to increase at 6.5% CAGR over the next ten years.

OTC Herbal and Traditional Medicines Market: Skilled analysts at Fact.MR, a market research and competitive intelligence provider, have recently released a revised analysis on the global OTC herbal and traditional medicines market, which is slated to rise at a CAGR of 4% over the decade.

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