The global cold & cough remedies market size was valued at USD 38.19 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2021 to 2028. The market is majorly driven by the high demand for Over-the-Counter (OTC) products. An increase in cough and cold cases, especially during the cold season, coupled with the rising number of patients suffering from breathing problems and allergies owing to pollution will boost the market growth. Cold and cough medicines are the most widely available and used OTC medicines. Physicians recommend these medicines for minor health issues, such as cough, cold, and fever. Due to the COVID-19 the pandemic, the sales of cough and cold medicine was increased by 27% in the U.S.
The increasing availability of cold medicines will enhance the sales of these products. Moreover, the rising popularity of cough syrups in the Asia Pacific region is further anticipated to boost the market growth over forecast period. Product innovations by the key players will contribute to the market growth. In addition, the growing customer preference for OTC cough & cold medicines is a prominent trend to boost the market growth.
Technological advancements in the pharmaceutical industry are also estimated to spur the market growth. However, time-consuming drug approval processes may restrict the market growth. At present, key players are focusing on providing pain-relieving medicines with particularly long-lasting actions.
The pills, syrups, creams, lozenges, sprays, and granulate segment accounted for the largest revenue share of more than 51% of the global market in 2020. This growth was credited to the increasing demand for these drugs due to the rising prevalence of cough and cold cases. In addition, the rising aging population is another important factor driving the segment growth.
The expectorants segment will register the fastest CAGR at 6.8% from 2021 to 2028. This growth is due to the growing cases of dry cough. Expectorants are medical agents used to reduce mucus from the lungs, trachea, and bronchi. In addition, the rising prevalence of respiratory diseases is another major factor expected to drive the segment growth over the forecast period.
The offline distribution channel segment dominated the market with the highest revenue share of more than 72% in 2020. The sales of cold & cough medicines through offline stores are rising due to the sustainability offered by these stores. On the other hand, the online distribution channel segment is estimated to register the fastest CAGR over the forecast period.
Cold & cough medicines can be purchased at a low price via online platforms. In addition, these channels provide various benefits, such as free delivery services, coupon benefits, and discounts on product prices. In addition, a rising number and popularity of app-based sellers are driving the growth of this segment over the forecast period.
North America dominated the global market in 2020 and accounted for more than 44% of the total revenue share. This growth was due to the high demand in the U.S. and Canada. In addition, the increasing cases of respiratory disease will support the market growth over the forecast period. The growing geriatric population along with the rising concerns regarding air pollution will also drive the growth of the market.
Asia Pacific is estimated to be the fastest-growing regional market at a CAGR of over 7.1% from 2021 to 2028. This growth can be credited to the increasing demand for cough and cold medicine in this region. The rising prevalence of the respiratory disease has led to the rising product demand.
Companies focus on innovating new dosage form types to meet the increasing demand. Multiple companies are targeting to launch new, fast-acting medicines with non-drowsy effects. Many new players are entering the market due to low entry barriers. Some of the prominent players in the global cold & cough remedies market include:
Report Attribute |
Details |
Market size value in 2021 |
USD 40,371.9 million |
Revenue forecast in 2028 |
USD 62,734.3 million |
Growth rate |
CAGR of 6.5% from 2021 to 2028 |
Base year for estimation |
2020 |
Historical data |
2017 - 2019 |
Forecast period |
2021 - 2028 |
Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Dosage form types, distribution channel, and region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country scope |
U.S.; Germany; U.K.; France; China; Japan; South Africa; Brazil |
Key companies profiled |
Johnson & Johnson, Reckitt Benckiser Group plc, Bayer AG, GlaxoSmithKline plc, AstraZeneca plc, Pfizer Inc, Sun Pharmaceutical Industries Ltd, Novartis AG, Prestige Brands, Inc, Procter & Gamble |
Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global cold & cough remedies market report on the basis of dosage form types, distribution channel, and region:
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