Research Support Specialist, USA
The global cold & cough remedies market size is expected to reach USD 62.7 billion by 2028, registering at a CAGR of 6.5% over the forecast period, according to a new report by Million Insights. 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.
The pills, syrups, creams, lozenges, sprays & granulate segment accounted for the largest revenue share of more than 51% in 2020 owing to the increasing demand for these medicines due to rising cases of cough and cold. In addition, the growing geriatric population is another important factor driving the segment growth.
The offline distribution channel segment dominated the global 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.
North America dominated the global market and accounted for a revenue share of over 44% in 2020 due to the high product demand in the U.S and Canada. In addition, the increasing cases of respiratory disease will drive the market growth over the forecast period. The growing concerns regarding air pollution are also driving the growth of the market in this region.
In Asia Pacific, the market is expected to witness the fastest CAGR of 7.1% from 2021 to 2028 on account of the increasing product demand. The rising prevalence of the respiratory disease has led to increasing demand for these medicines in this region. Due to the COVID-19 pandemic, the sales of cough & cold medicines were increased by 27% in the U.S. itself.
The report “Cold And Cough Remedies Market Size, Share & Trends Analysis Report By Distribution Channel (Online, Offline), By Region (North America, APAC), By Dosage Form Types, And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global cold & cough remedies market on the basis of dosage form types, distribution channel, and region:
Cold & Cough Remedies Dosage Form types Outlook (Revenue, USD Million, 2017 - 2028)
Cold & Cough Remedies Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
Cold & Cough Remedies Regional Outlook (Revenue, USD Million, 2017 - 2028)