Increasing Geriatric Population Significantly Contributes to Global Cough Syrup Market Growth

Cough Syrup Market

As per Inkwood Research, the Global Cough Syrup Market is estimated to progress with a CAGR of 3.62% in terms of revenue during the forecasting years 2023-2032.

“Browse 47 Market Data Tables and 47 Figures spread over 225 Pages, along with an in-depth TOC on the Global Cough Syrup Market Forecast 2023-2032.” 

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The cough syrup market is a significant segment of the global pharmaceutical industry. It caters to a diverse consumer base, ranging from adults to children, and addresses a variety of cough-related ailments, including dry coughs, chesty coughs, and common cold symptoms.

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Key Growth Driver: Growing Aging Population

The increasing elderly demographic is playing a vital role in propelling the growth of the cough syrup market. According to the World Health Organization (WHO), it is estimated that by 2030, one out of every six individuals worldwide will be 60 years or older. During this period, the proportion of the population aged 60 and above is anticipated to increase from 1 billion in 2020 to 1.4 billion. The global population of individuals aged 60 and older is expected to double to 2.1 billion by 2050, with the number of people aged 80 and above predicted to triple between 2020 and 2050, reaching 426 million.

As the world’s aging population continues to grow, the prevalence of age-related health problems, including respiratory conditions and chronic coughing, also increases. According to the World Health Organization, the global population aged 65 and over is projected to double to 1.5 billion by 2050. This demographic shift has resulted in a higher occurrence of chronic ailments such as asthma, chronic obstructive pulmonary disease (COPD), and other respiratory issues among older adults

Fastest-Growing Distribution Channel: E-Pharmacies

The cough syrup market, while traditionally dominated by brick-and-mortar pharmacies, has witnessed a significant shift towards e-commerce platforms in recent years. E-Pharmacies have become a key distribution channel for cough syrups, offering convenience, accessibility, and a wide range of choices for consumers.

The demand for cough syrups is greatly influenced by e-pharmacies’ competitive pricing and promotional strategies. These online platforms frequently provide discounts, exclusive deals, and loyalty programs, effectively lowering the overall expense of purchasing cough syrups. This cost-effectiveness can be especially appealing to individuals who are cautious about spending significant amounts on over-the-counter medications, particularly in times of financial difficulty.

Fastest-Growing Region: Asia-Pacific

Asia-Pacific is home to a vast and continuously expanding population. With growing health awareness and accessibility to healthcare services, the demand for cough syrups has surged significantly. Also, the ongoing urbanization trend in the region has led to lifestyle changes, including greater exposure to pollution, which has, in turn, increased the incidence of respiratory illnesses, driving the demand for cough syrups.

Further, the increasing disposable income in many Asian countries has facilitated greater access to healthcare products, enabling consumers to purchase cough syrups for themselves and their families.

The intensification of competition among companies striving for consumer attention and loyalty is heightened by the presence of diverse products and the growth of e-commerce platforms. Some of the leading companies in the market are Pfizer Inc, Novartis AG, Cipla Ltd, Procter & Gamble, etc.

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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, the Middle East, Europe, Asia, and Africa.


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