Cold, Cough, and Sore Throat Remedies Market to Reach USD 56.17 billion by 2032 Driven

Date:

The Cold, Cough, and Sore Throat Remedies Market Size was valued at USD 41.22 billion in 2023, and is expected to reach USD 56.17 billion by 2032, and grow at a CAGR of 3.5% over the forecast period 2024-2032.

The rise in cases of respiratory infections, a global climate change, increased travel, and the development of novel viral strains rises the growth of the market. The rise in an aging population, which are more prone to respiratory diseases, rises the demand for the effective solution. The unhealthy lifestyle, characterized by urbanization, fast-paced living, and high stress levels, rises the growth of the Cold, Cough, and Sore Throat Remedies Market. These factors affect the immune function, and making individuals more prone to the respiratory infections. The rise in awareness about the importance of immune health, with the cost effective and convenience of over-the-counter medications and rising disposable incomes, has enable consumers to manage their health, which rises the demand and growth of the market. The technological advancements also rise the growth of the Cold, Cough, and Sore Throat Remedies Market. The development of innovative formulations and delivery systems. For instance, extended-release capsules and nasal sprays, has enhanced product effectiveness and consumer satisfaction. The marketing campaigns that focus on the rapid symptom relief and comprehensive treatment solutions have effectively rises the market growth.

The regulatory support for over-the-counter medications plays an important role in the market growth. The streamlined approval processes for these products rises the rate of innovation and increase the range of available options.

The rise in growth of the retail pharmacy chains and the development of e-commerce platforms improved the product accessibility. Consumers now have multiple options of channels to purchase these remedies, which rises the growth of the market.

The rise in cases of allergies and asthma, which present with cold-like symptoms, has increase the target market for these products. As individuals required the relief from allergy-related discomfort, that rises the demand for cold and cough remedies.

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KEY MARKET SEGMENTATION

By Drug

  • Antihistamines
  • Expectorants
  • Bronchodilators
  • Decongestants
  • Antibiotics
  • Others

By Doses

  • Oral Syrups
  • Tablets/Pills
  • Nasal Drops
  • Lozenges
  • Others

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Drug Stores
  • Supermarkets/Hypermarkets
  • E-Commerce/Online Pharmacies

Segment Analysis

By Drug, Expectorants segment dominated theCold, Cough, and Sore Throat Remedies Market with high market share in 2023 due to their ability to rapidly relieve congestion and ease breathing. Increasing awareness of respiratory health and effective symptom relief further rises the demand.

By Doses, Tablets/Pills segment dominated theCold, Cough, and Sore Throat Remedies Market with high market share in2023, due to it is preferred by adults for quick relief and convenience. This highlights tablets’ importance. Pharmaceutical companies focusing on tablets benefits.

Key Players

  • Reckitt Benckiser Group PLC
  • Johnson & Johnson Services Inc.
  • GlaxoSmithKline plc
  • Novartis AG
  • Bayer AG
  • AstraZeneca ple.
  • Sun Pharmaceutical Industries Ltd.
  • Pfizer Inc.
  • Prestige Brands Holdings Inc.
  • and Procter & Gamble Co

Recent Developments

November 2023: On/Go, a healthcare platform, expanded its offerings with the launch of Sniffles, a dedicated solution for cold remedies.

June 10, 2021: Pharmaceutical company Dexa Medica, in collaboration with Orange Drugs Limited, introduced Konos, a new medication designed to alleviate cold and cough symptoms.

February 2023: India’s Ministry of AYUSH experienced a significant budget increase of 19.7% compared to the previous year, reaching an estimated US$ 444.7 million. This substantial allocation underscores the government’s commitment to promoting Ayurveda, Yoga, Naturopathy, Unani, Siddha, and Homoeopathy.

Regional Analysis

The Asia Pacific region dominant the growth of the Cold, Cough, and Sore Throat Remedies Market with highest market share in 2023. This dominance is due to several factors such as, rising disposable incomes enable consumers to invest in healthcare, increase in the awareness of these products has risen the demand for the products. The increased in the respiratory disorder due to changing weather patterns is also rises the drug demand. The government initiatives play an important role in the growth of the Cold, Cough, and Sore Throat Remedies Market. The rise in investment in the market by both government and private sectors also rises the growth of the market.

The North America holds significant number of shares of the Cold, Cough, and Sore Throat Remedies Market. This is due to rise in consumers’ willingness to spend on healthcare products providing rapid relief from common cold and flu symptoms. Low sales taxes on over-the-counter medications in states such as New York, when compounded with federal taxes, it increases the product costs which rises the growth of the market in this region.

Key Takeaways

  • The report highlights the significant impact of rising respiratory infections, climate change, increased travel, and emerging viral strains on market growth. 
  • The report acknowledges the positive impact of supportive regulations on the market, emphasizing the role of streamlined approval processes in fostering innovation.
  • The report highlights the expanding retail pharmacy chains and the growth of e-commerce platforms as key factors driving market accessibility and growth.
  • The report emphasizes the role of technological advancements in driving market growth, with a focus on innovative formulations and delivery systems.
  • The report identifies the increasing prevalence of allergies and asthma as a growth opportunity for the market, as individuals seek relief from related symptoms.

Make Enquiry About Cold, Cough, and Sore Throat Remedies Market Report: https://www.snsinsider.com/enquiry/3293

Table of Content

Chapter 1 Introduction       

Chapter 2 Research Methodology

Chapter 3 Cold, Cough, and Sore Throat Remedies Market Dynamics

Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)

Chapter 5 Value Chain Analysis

Chapter 6 Porter’s 5 forces model

Chapter 7 PEST Analysis

Chapter 8 Cold, Cough, and Sore Throat Remedies Market Segmentation, By Drug

Chapter 9 Cold, Cough, and Sore Throat Remedies Market Segmentation, By Doses

Chapter 10 Cold, Cough, and Sore Throat Remedies Market Segmentation, By Distribution Channel

Chapter 11 Cold, Cough, and Sore Throat Remedies Market – Regional Analysis

Chapter 12 Company profile

Chapter 13 Competitive Landscape

Chapter 14 Use Case and Best Practices

Chapter 15 Conclusion

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