ASIA-PACIFIC COUGH SYRUP MARKET FORECAST 2023-2032

The Asia-Pacific cough syrup market growth assessment includes the analysis of South Korea, China, Vietnam, Thailand, India, Australia & New Zealand, Indonesia, Japan, and Rest of Asia-Pacific. China’s prominent role as a major exporter of Active Pharmaceutical Ingredients (API) has had a profound impact on the domestic cough syrup market. The nation’s robust pharmaceutical industry and strong API production capabilities have further enabled it to provide vital components for cough syrup and other pharmaceutical products on a global scale. This not only bolsters the local production of cough syrups but also solidifies China’s standing as a dependable global supplier. 

Further, in India, the elderly population significantly propels the growth of the country’s cough syrup market. The aging demographic in India is more vulnerable to respiratory issues, including coughs and colds, due to weakened immune systems and age-related health concerns. Consequently, there is an escalating demand for effective cough syrups within this demographic. Consequently, the cough syrup market in India continues to experience sustained growth as it caters to the healthcare needs of the elderly.

The Asia-Pacific cough syrup market segmentation includes product type, age group, and distribution channel. The distribution channel segment includes e-pharmacies, hospital pharmacies, and retail pharmacies.

There is a significant surge in the demand for cough syrups through e-pharmacies. The convenience and accessibility offered by e-pharmacies have transformed the way consumers obtain healthcare products. Thanks to the rise of e-commerce platforms, individuals can now buy cough syrups from their homes, eliminating the necessity of physically visiting a traditional brick-and-mortar pharmacy. This convenience is especially attractive to individuals with busy schedules, limited mobility, or those residing in remote areas, making cough syrups easily reachable to a broader demographic.

Furthermore, the growing popularity of e-commerce platforms is fueling the demand for cough syrups because it provides consumers with a wider array of choices and information. E-pharmacies typically present a diverse range of cough syrups, encompassing various brands, formulations, and price points. This variety empowers consumers to make more informed choices, allowing them to select cough syrups that align best with their particular requirements and preferences.

Some of the leading companies in the Asia-Pacific cough syrup market are Merck KGaA, Procter & Gamble, Novartis AG, Pfizer Inc, etc.

Pfizer Inc is a biopharmaceutical company that produces healthcare solutions for disease prevention, chronic ailments, and rare disorder treatment. The company’s three main business segments include consumer healthcare, vaccines, and pharmaceuticals. Pfizer has a significant presence in Latin America, Asia, Europe, and North America, with headquarters in New York, the United States. 

Its product portfolio includes Corex Dx Cough Syrup, which is used to treat dry, painful, and irritating coughs caused by infections or allergies.