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The global throat pastilles and cough drops market size is estimated to grow by USD 1.25 billion, at a CAGR of 3.72% between 2023 and 2028.
Oral dosage forms differ from and have advantages over other dosage forms such as parenteral and intravenous. Oral dosage forms are economical, safe, and are the easiest route of drug administration. Owing to the advantages of oral dosage forms, throat pastilles, and cough drops are highly preferred by patients. Nowadays, several types of lozenges are available in the market, which are capable of providing several advantages and relief from symptoms of diseases. Consequently, the advantages of lozenges have increased patient propensity toward these easily available dosage forms, thereby driving the global throat pastilles and cough drops market growth during the forecast period.
Technavio has segmented the market into Type, End-user, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
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The market share growth by the hard tablet lozenges segment will be significant during the forecast period. A hard tablet lozenge is a mixture of carbohydrates and sugar in combination with a medicament in a nanocrystalline state. They can also be called solid syrups of sugars and medicament. These lozenges are made by heating sugars and other constituents together and then pouring the mixture into a mold. Several types of hard candy lozenges, such as Vicks and Strepsils, are easily available in retail stores and pharmacies at low prices. Hard candy lozenges offer multiple benefits.
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The hard tablet lozenges segment was valued at USD 2.68 billion in 2018. In addition, the availability of these lozenges in multiple colors and flavors, such as blackcurrant, cherry, honey, and lemon, has increased their acceptance and popularity among people. However, the issue in making these lozenges is that they become grainy. However, to overcome this challenge, other excipients are available and are used in the manufacturing process of hard tablet lozenges. Thus, the easy availability of these lozenges at lower prices in different flavors with multiple actions will drive the growth of the segment during the forecast period.
Hospitals are considered one of the major end-users were various chronic treatments of common cold and influenza. Hospitals play an important role in the consumption of lozenges for influenza and the common cold. Hospitals may also purchase lozenges directly from manufacturers and distribute them to other healthcare facilities and pharmacies. Furthermore, according to the World Health Organization, the number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. Hence, such factors are expected to propel hospitals segment growth, which contributes to the global throat pastilles and cough drops market growth during the forecast period.
Patients often prefer private clinics and specialty clinics as end-users due to low cost and easy appointments. Treatment for influenza cases is being carried out in these centers. Furthermore, physicians' clinics and private clinics are gaining prominence over hospitals, as the cost is comparatively less due to the availability of various types of clinical services, such as diagnosing, assessing, and treating influenza and the common cold. Thus, such factors are boosting the growth of the clinics segment, which, in turn, propels the growth of the market in focus during the forecast period.
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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America holds the largest market share in the global throat pastilles and cough drops market, primarily due to the increasing incidence of coughs and colds, and other diseases, including influenza and pneumonia, causing symptoms such as coughing and sore throat. Furthermore, the easy availability of throat pastilles and cough drops at very low prices and the immediate relief provided by them have also increased their demand. Therefore, the market is witnessing the launch of innovative products, which will further drive the market's growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Andre Prost Inc: The company offers throat drops such as ginger drops, menthol eucalyptus drops, and lemon and menthol eucalyptus drops under its brand HONEES.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
Increasing incidences of respiratory tract infections is the key factor driving market growth. The increasing incidences of respiratory tract infections such as the common cold, influenza, and pneumonia, are expected to increase the consumption of lozenges, which will drive the market growth. Common cold can cause a sore throat and runny nose, followed by coughing and sneezing. The incidence of the common cold is high in several regions globally.
Furthermore, the prevalence of pneumonia has also increased worldwide. For example, according to the CDC, approximately 900,000 Americans are affected by pneumococcal pneumonia each year. Therefore, such an increase in the prevalence of the abovementioned diseases has led to a growth in the demand for throat pastilles and cough drops for relief from the symptoms of these diseases. Thus, such factors will drive the growth of the market during the forecast period.
The growing focus of companies on enhancing distribution networks is the primary trend shaping market growth. Lozenges are majorly available over-the-counter in many countries. In developed countries, the lineup of over-the-counter drugs is expanding steadily. Manufacturers of over-the-counter drugs are taking advantage of the increasing sales through both retail channels and e-channels to grow their businesses. Nowadays, different over-the-counter drugs are available through online distribution channels and retail channels, as well as in drugstores.
Furthermore, for counter sales, lozenges can be dispensed without a prescription. In addition, the availability of lozenges in several flavors, such as ginger, honey, lemon, mint, and others, has led to greater market acceptance of these products. Therefore, making throat pastilles and cough drops available through different distribution channels is expected to boost the sales of these lozenges, thereby accelerating the market growth during the forecast period.
The inappropriate use of antibiotics to treat the common cold and influenza is a challenge that affects market growth. The wrong use of antibiotics to treat the common cold and influenza has increased. This has led to an increase in resistance to antibiotics, which may create a challenge to the market. Common cold and influenza infections are caused by several viruses. However, in some cases, a bacterial cause can be found. For cases where bacteria cause an infection, antibiotic treatment is effective. However, in a majority of cases, respiratory infections occur due to viruses, and those infections do not respond to antibiotic therapy.
In addition, physicians across the globe continue to prescribe antibiotics for the treatment of common cold and influenza infections. It was observed that the rate of antibiotic prescriptions for children is higher than that for adults. This has become a major challenge for global public health. Hence, such inappropriate use of antibiotics to treat the common cold and influenza infections may impede the growth of the global throat pastilles and cough drops market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Throat Pastilles and Cough Drops Market Customer Landscape
The throat pastilles and cough drops market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Throat Pastilles and Cough Drops Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.72% |
Market Growth 2024-2028 |
USD 1.25 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.28 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 34% |
Key countries |
US, Canada, Germany, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Andre Prost Inc, Aurobindo Pharma Ltd., Boyd Pharmaceuticals, CVS Health Corp., FISHERMANSFRIEND.COM, GRETHERS USA, iNova Pharmaceuticals, Johnson and Johnson, Lanes Health, Maneesh Pharmaceuticals Ltd, Mondelez International Inc., PINE BROS LLC., Prestige Consumer Healthcare Inc., Prince Care Pharma Pvt Ltd, Procter and Gamble, Quantum Health, Reckitt Benckiser Group Plc, Ricola Group AG, STADA Arzneimittel AG, and Walgreens Boots Alliance Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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