The global antitussive drugs market size was worth around USD 1307.5 million in 2022 and is predicted to grow to around USD 1876.9 million by 2030 with a compound annual growth rate (CAGR) of roughly 4.62% between 2023 and 2030.
The research expands on a number of key areas of the international market for antitussive medications. There’s an in-depth analysis of the current growth drivers and bottlenecks. The research gives a thorough analysis of the prospects for, and potential difficulties with, further expansion in the antitussive medicines market.
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The Antitussive Drugs Industry in Context
Cough syrups are the most prevalent form of antitussive medication. They alleviate or treat the signs and symptoms of a cough. The brain automatically triggers this response to help cleanse the airways of mucus, irritants, and other potential threats. Coughing is a normal bodily function, but coughing that lasts too long or occurs frequently can be annoying and even dangerous. Drugs used to treat a cough either block the CNS’s cough reflex or numb the respiratory system’s cough receptors.
Key Takeaways:
- Our research analyst has revealed that the worldwide market for antitussive medications is expected to expand at a CAGR of roughly 4.62% between the years 2023 and 2030.
- The global market for antitussive medications is expected to grow from its 2022 valuation of roughly USD 1307.5 mln to reach USD 1876.9 mln by 2030.
- Sustainable packaging has become an increasingly important factor in the antitussive medications market.
Market expansion will be spurred by the rising incidence of respiratory disorders
The rising prevalence of respiratory disorders around the world is expected to boost the demand for antitussive medications worldwide. These illnesses have an effect on the respiratory system, specifically the lungs. Such illnesses impact people of all ages, genders, and ethnicities, making them a huge public health concern right now. Patients with respiratory disorders are more common in some nations with higher pollution rates or lower air quality. More than 262 million people worldwide suffered from asthma in 2019, according to the most recent data from the World Health Organisation (WHO). It is among the most frequent respiratory illnesses that negatively affect people’s daily lives.
Market growth for antitussive medications may be hampered by worries about their potential for adverse effects or safety.
There have been numerous reports of adverse reactions to cough syrups in recent years. Ethylene glycol (EG) and diethylene glycol (DEG) were found in cough syrups imported to Gamba from India in 2020, according to reports from Gambain Scientist and the CDC. Multiple youngsters developed acute kidney damage (AKI) after consuming these syrups. As a result, the WHO issued a warning about four different cough syrup products that India had been shipping around the world. Growth in the antitussive medicine market is likely to be stymied by the aforementioned concerns in the years ahead.
Combination therapy development paves the way for future expansion
Increased spending on research and development of combination medicines is anticipated to provide the worldwide antitussive medications market with more lucrative expansion prospects. This may involve using antitussive medicines in conjunction with other methods of cough treatment. Expectorants and mucolytics are two examples of these novel agents. Since time and efficiency are both critical for excellent care, it is believed that combination therapies will provide better results than solitary treatment approaches.
Market growth will be hampered by rising generic drug competition
The need for low-cost pharmaceuticals is on the rise. After the patent expires, big pharma loses control over the creation of generic versions of their drugs. There are more customers for generic pharmaceuticals because of their lower prices and similar effectiveness. As a result, branded items see a decline in market share and price wars break out across the sector. Antitussive medicine business participants have significant hurdles in managing earnings, revenue streams, and supply chain.
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The Global Antitussive Drugs Market is segmented based on product, application and region
Global Antitussive Drugs Market: Product Segment Analysis
● Centrally Acting Antitussive Drugs
● Locally Acting Antitussive Drugs
Global Antitussive Drugs Market: Application Segment Analysis
● Hospital Pharmacies
● Retail Pharmacies
● Online Pharmacies
What’s New Lately:
- Sun Pharmaceuticals Industries, a major Indian pharmaceutical firm, released their innovative cough syrup Chericof 12 in September 2021. It’s the first prescription-based formulation introduced in the country, and it promises relief for up to 12 hours after intake, and it can be used on patients older than 6 years old.
- In October 2022, following the deaths of 66 children in Gambia, the Indian Health Ministry opened an investigation into cough syrups exported to that country. Maiden Pharmaceuticals made the syrups.
- A new rule mandating the safety of cough syrups exported from India went into effect in May 2023. Since June 1st, 2023, a new regulation has mandated that cough syrup producers obtain export licences only after submitting samples for testing to designated government labs.
The global antitussive drugs market is led by players like:
● Pfizer Inc.
● Johnson & Johnson
● Sanofi S.A.
● GlaxoSmithKline plc
● Merck & Co. Inc.
● Novartis International AG
● AstraZeneca plc
● Boehringer Ingelheim International GmbH
● Roche Holding AG
● Bayer AG
● Teva Pharmaceutical Industries Ltd.
● Sun Pharmaceutical Industries Ltd.
● Mylan N.V.
● Cipla Ltd.
● Reckitt Benckiser Group plc
● Perrigo Company plc
● Glenmark Pharmaceuticals Ltd.
● Lupin Limited
● Takeda Pharmaceutical Company Limited
● Hikma Pharmaceuticals PLC
● Pharmaceuticals Ltd.
In the future, North America will have a larger CAGR than any other region
North America’s powerful pharmaceutical industry is the key factor propelling the region to the forefront of the global antitussive medicines market. Some of the world’s top pharmaceutical corporations call this region home, and they supply everything from antitussive medications to cancer treatments. Growing the regional market requires increased investment in R&D, new scientific breakthroughs on the formulation of cough syrup, and growing strategic partnerships with smaller nations to establish pharma-based trade relations.
Additional factors that contribute to the regulated money generated in North America include increased patient knowledge, easier access to high-quality primary medical care, and stringent laws around the selling of over-the-counter and prescribed medication. The rising number of people in Latin America with respiratory problems is likely to make the region a lucrative market. Brand-name and generic pharmaceuticals are the norm in this market.
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