Cough Syrup Market: Trends to Watch in 2024

1. Cough Syrup Market: Trends to Watch in 2024 Lifesciences 17, October 2023 Rapid urbanization has significantly increased air pollution levels, resulting in a higher prevalence of chronic conditions like asthma and chronic obstructive pulmonary disease (COPD). According to the WHO, COPD is the third leading global cause of death, responsible for approximately 3.23 million deaths in 2019. A common and persistent symptom associated with these respiratory issues is coughing, leading to a rising demand for effective remedies. Triton’s report predicts the global cough syrup market to advance with a CAGR of 3.64% during 2023-2030. The impact of respiratory ailments on the market is evident in product diversity and marketing strategies. Manufacturers are now innovating their formulations, introducing herbal cough syrups as a cost-effective and low-side-effect alternative to traditional options. WHO data show that about 60% of the global population relies on herbal medicine, with 80% in developing nations using it for primary healthcare. For example, Dabur’s Honitus Herbal Cough Remedy Syrup is a popular herbal medication in India, while Zarbee’s Naturals meets the demand for natural remedies with honey and agave-based syrups.

2. In recent years, cough suppressants overdose and climate change have led to significant respiratory health problems among obese, diabetic, and elderly individuals. This blog explores the latest trends driving product development. Cough Syrup: Market Trends Fueling Offering According to the 10th edition of the IDF Diabetes Atlas in 2021, 537 million adults aged 20-79 had diabetes, and projections suggest that this number will rise to 643 million by 2030 and 783 million by 2045. The prevalence of diabetes is rapid in low and middle- income nations compared to high-income nations. Diabetic individuals are particularly vulnerable to colds and flu. To address this, various companies have developed sugar-free syrups. For instance, Wockhardt Hospitals introduced Zedex Plus, a sugar-free alternative to treat dry cough. The world’s older population is growing at an unprecedented rate, presenting various health challenges. According to the UN’s Population Division, approximately 727 million people were aged 65 or older in 2020. WHO predicts that by 2050, the global population of individuals aged 60 and above will double. Among the health concerns affecting the elderly, chronic cough has become a prominent issue, driving the demand for over-the-counter cough suppressants designed for adults. This has prompted various initiatives among manufacturers. For instance, Sandoz Egypt Pharma and Ibnsina Pharma collaborated for Sandoz’s OTC drug portfolio to expand offerings. Such developments have resulted in the adult category to dominate within the age group segment. According to WHO statistics, in 2022, more than 300 children in Gambia, Uzbekistan, and Indonesia lost their lives due to tainted cough syrups. Besides, the CDC reports around 60,000 annual emergency visits from unintentional medication overdose in children in the US. To overcome these medication errors, manufacturers are formulating special pediatric syrups and single-dose packaging solutions. For instance, Drkids, a Tamarac brand, offers premeasured single-use vials of liquid pediatric allergy and cough medicines. Another company, Genexa, introduced an organic cherry-flavored pain and fever medication for children in July 2023, which contains active ingredients and avoids common allergens, parabens, artificial sweeteners, and dyes. Regional Focus: Asia-Pacific Witnesses Fastest Growth The Asia-Pacific cough syrup market is expected to witness the fastest growth rate at 4.01% over 2023-2030. Tobacco smoking and air pollution are the major factors fueling the adoption of cough medication in the region. Over 2.3 billion people are exposed to air pollution that exceeds the WHO guidelines for healthy air in the region. Beijing, Delhi, and Jakarta are associated with the highest air pollution levels across APAC. Additionally, customized cough suppressants demand is on the rise in Japan, Thailand, South Korea, and China due to the increasing elderly population prone to respiratory diseases. In this regard, China’s status as a major exporter of active pharmaceutical ingredients has allowed it to supply essential components for cough syrups worldwide. This supports both domestic

3. production and its global supplier reputation. Hence, the export of APIs contributes to a stable supply chain, meeting the growing global demand for cough suppressants. E-Commerce Offers Expanded Opportunities The online marketplace has fundamentally transformed how medicines are purchased and sold, presenting a promising opportunity for the market. Online platforms offer unparalleled convenience and accessibility to browse and purchase a diverse range of syrups. This variety allows customers to select products that align with their preferences, such as herbal or sugar-free options while making informed decisions based on detailed product descriptions and reviews. The transparency offered by e-commerce platforms has revolutionized the purchasing landscape, offering various opportunities to manufacturers in the global market. FAQs: Q1) Which are the prominent categories in the cough syrup market? The adult category in the age group segment and cough suppressants in the product type segment are prominent in the market. Q2) How big is the cough syrup market? The global market garnered revenue worth $5501.63 million in 2022 and is expected to attain $7332.12 million by 2030.