Global Cough Syrup Market: Overview
Used for treating common cold, hay fever, or other upper respiratory allergies., cough syrups are set to witness a growth in demand. Owing to rise in respiratory disorders and massive air pollution, global cough syrup market would see decent CAGR (Compound Annual Growth Rate) over the forecast period of 2019-2027.
A rise in incomes in developing economies will also add to growth of the global cough syrup market. The market is also set to see growth owing to increase in geriatric population.
Global Cough Syrup Market: Notable Development
The global cough syrup market is witnessing a number of significant developments that are not just crucial for players to take note of but also to understand how the market would operate over the coming years. A comprehensive analysis in can be found in our upcoming report.
- In February of the year 2019, Merck expanded its R&D facility in Billerica, Massachusetts. It invested USD 70 million to develop a robust clinical pipeline. This highlights the need to always be up an about in terms of product development and innovation.
- In July 2018, Zarbee’s Naturals was acquired by Johnson and Johnson. The move was in sync with demand for natural cough syrups for kids. It also helped Johnson and Johnson to diversify its portfolio.
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The global cough syrup market is fragmented and prominent players in the market include Pfizer, Inc. (US), Novartis AG (Switzerland), Merck KGaA (US), Johnson & Johnson Services, Inc. (US), GlaxoSmithKline PLC (UK), Acella Pharmaceuticals, LLC (US), Procter & Gamble (US), Reckitt Benckiser Group PLC (UK), Abbott (US), and Sanofi (France)., among others. Players are focusing on improving their products.
Global Cough Syrup Market: Key Trends and Drivers
Certain factors are shaping the growth curve for Global Cough Syrup Market. They are paving the way for how market would operate over the coming years. A glimpse is shared below.
- Rise in geriatric population is set to increase demand in the global cough syrup market. It might be pertinent to make a note here that already the year 2018 has proven to be historical in terms of a major demographic shift. In the said year, number of people aged 65 and above actually surpassed the number of people aged five and below. And, by 2050, it is predicted that globally, one in six people will fall into this age bracket. In North America, the ration will be one is to four, making the situation more pronounced and helping the global cough syrup market take a higher trajectory.
- Rise in pollution is a major hassle for most governments at this point. And, it is particularly so because as pollution levels rise, incidence of respiratory illnesses also increases. And, thus, rises costs associated with healthcare. This will contribute to growth of global cough syrup market in a big way. And, as incomes rise considerably in the developing economies, the profits for the market would only grow further.
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Global Cough Syrup Market: Geographical Analysis
The North American region will hold the biggest chunk of market share, followed by Europe due to a large number of geriatric population, which is increasing a significant pace. Besides, the two regions have the presence of some of the most prominent names in the global cough syrup market landscape.
On the other hand, the growth chart would be dominated by the Asia Pacific (APAC) region owing to high incidence of respiratory disorder. Besides, there is a high prevalence of mould and fungus in homes which remains undetected for the major part of the population..
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.