Cold, Cough, and Sore Throat Remedies Market Analysis | Coherent Market Insights

1. Coherent Market InsightS Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

2. Cold, Cough, and Sore Throat Remedies Market Analysis (2020-2027) • Common cold spread from person to person through various medium such as cough droplets, sneezes, and mucus in hand. Common factors that cause cold include, seasonal factors, close contact with infected person, smoking and exposure to cigarette smoke, weak immune system, and various chronic illness such as diabetes, autoimmune diseases and asthma. • The global cold, cough, and sore throat remedies market is estimated to account for US$ 36,325.0 • Mn in terms of value in 2019 and is expected to reach US$ 46,869.6 Mn by the end of 2027.

3. Global Cold, Cough, and Sore Throat Remedies Market: Drivers • Increasing rate of self-medication among patients and availability of over-the-counter (OTC) drugs is expected to boost growth of the global cold, cough, and sore throat remedies market over the forecast period. For instance, according to the study, ‘Self-medication with over the counter drugs, prevalence of risky practice and its associated factors in pharmacy outlets of Asmara, Eritrea’, published in February 2019, in the journal BMC Public Health, 93.7% of the survey participants practiced self-medication with OTC drugs. The most frequently preferred OTC drug group was analgesics followed by antipyretics, and cough and cold preparations. • Moreover, increasing development and launch of generic drugs is also expected to aid in growth of the market.

4. Asia Pacific region held dominant position in the global cold, cough, and sore throat remedies market in 2018, accounting for 37.1% share in terms of value, followed by Europe.

5. Global Cold, Cough, and Sore Throat Remedies Market: Restraints • However, OTC sore throat products may contribute to antibiotic resistance, which is expected to limit their adoption, thereby hindering growth of the market. For instance, according to a study presented at the 29th European Congress of Clinical Microbiology & Infectious Diseases, in April 2019, OTC throat products may be contributing to antibiotic resistance. • Moreover, recall and failure of cold, cough, and sore throat remedies is also expected to hinder growth of the market. For instance, in March 2019, DG Health issued a recall for its DG/health Naturals baby Cough Syrup + Mucus due to a bacterial contamination.

6. Global Cold, Cough, and Sore Throat Remedies Market: Opportunities • Moving a product from prescription to OTC presents an attractive opportunity for manufacturers. For instance, according to Consumer Healthcare Products Association, in the U.S., sales of OTC medicines reached US$ 35.2 billion in 2018, up from US$ 34.6 billion in 2017. • Emergence of new coronavirus is also expected to aid in growth of the market. For instance, in January 2020, China reported 2, 700 cases of new coronavirus with symptoms of common cold — runny nose, headache, fever, cough, sore throat, and a general ill feeling.   

7. Antihistamines segment in the global cold, cough, and sore throat remedies market was valued at US$ 9,323.8 Mn in 2018 and is expected to reach US$ 12,934.4 Mn by 2027 at a CAGR of 3.6% during the forecast period.

8. Market Trends/Key Takeaways • Misuse of OTC cough medicine among young population has witnessing a decreasing trend. For instance, according to the 2019 results from the National Institute on Drug Abuse (NIDA) and University of Michigan’s annual drug abuse survey, the number of teens using OTC cough medicine containing dextromethorphan to get high decreased compared to that in 2006. • Players in the market are focused on launching products specially designed for children. For instance, in October 2019, Vicks launched its newest cold medication specially formulated for children that include Vicks Children’s Cough & Congestion. It is free from artificial additives, artificial dyes and flavors, and high fructose corn syrup and alcohol.

9. Regulations • North America • In the U.S. over 70% of cough cold medicines are non-prescription medicines • FDA defines OTC or non-prescription medicines as “drug products are those drugs that are available to consumers without a prescription” • For drug product to be classified as OTC it should possess characteristics such as no need of recommendation by health practitioner as safe & effective, acceptable safety margin, low abuse potential and adequately labelled • Cold, cough, allergy, bronchodilator, and antiasthmatic drug products for over-the-counter human use are regulated under 21CFR341

10. However, some of cough cold and sore throat medicines such as antibiotics, cough syrups containing controlled substances (Hycodan, Mycodone & Tussigon) etc. require prescription and are highly regulated • For prescription to OTC switching manufacturer has to request new approval under 21CFR330.11 • FDA allows sale of OTC drugs in the U.S. after pursuant to FDA OTC monograph or pursuant to NDA for products that do not fit within specific monographs • The FDA-approved, immediate-release hydrocodone antitussive formulations contain only hydrocodone bitartrate and homatropinemethylbromide. Proprietary names for these products include Hycodan, Mycodone, and Tussigon. Examples of approved extended release formulations include Vicodin, Hysingla ER, Zohydro ER, Targiniq ER • Cough suppressants that combine hydrocodone and homatropine with other drugs, like an expectorant such as guaifenesin, or a decongestant such as phenylephrine or pseudoephedrine, methamphetamine, dextromethorphan are currently unapproved • Extended-release antitussive formulations that contain hydrocodone polistirex and chlorpheniraminepolistirex, an antihistamine are unapproved Some of the examples include TussionexPennkinetic–a suspension, and Tussicaps–a capsule • In February 2016, FDA released five post marketing requirements for extended release opioid medications

12. Global Cold, Cough, and Sore Throat Remedies Market: Competitive Landscape • Major players operating in the global cold, cough, and sore throat remedies market include, Reckitt Benckiser Group PLC, Johnson & Johnson Services, Inc., GlaxoSmithKline plc., Novartis AG, Bayer AG, AstraZeneca plc., Sun Pharmaceutical Industries Ltd., Pfizer Inc., Prestige Brands Holdings, Inc., and Procter & Gamble Co.

13. Global Cold, Cough, and Sore Throat Remedies Market: Key Developments  • Players in the market are focused on launching new products to expand their product portfolio. For instance, in August 2019, Comvita launched line of UMF certified Manuka Honey-based products for children for the treatment of cough and sore throat. • In March 2019, Peroxfarma launched an all-natural cough syrup, EpaplusImmuncare, in the U.S.

14. Request sample copy here • Request PDF brochure here • Request Customization here • Talk to Analyst • Buy Now • Reference: • https://www.coherentmarketinsights.com/market-insight/cold-cough-and-sore-throat-remedies-market-3381

15. About Us: • Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. • What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

16. Contact Us: • Mr. Shah • Coherent Market Insights Pvt. Ltd. • Address: 1001 4th ave, #3200 Seattle, WA 98154, U.S. • Phone: +1-206-701-6702 • Email :sales@coherentmarketinsights.com

17. Thank You! Kindly follow CMI Social Media Profiles for the latest company updates Facebook Linkedin Twitter https://www.coherentmarketinsights.com/