The global cold remedies market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The market is majorly attributed to the growing cases of cold all over the globe. According to the World Health Organization, it is estimated that 2.5 million people were suffering from cold and about 61,000 people died from the flu in 2019 all over the globe. Further, switch from prescription to OTC category, a rise in the rise geriatric population, and demand for effective combination products are anticipated to drive the market. However, competition faced by international players due to drugs from local manufacturers and natural remedies restrain the market growth. Favorable regulations and opportunities in the emerging economies of Asia-Pacific and Latin America, Middle East and Africa due to availability of large patient pool provide promising growth opportunities for the market.
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Some key players operating in the market include Novartis International AG, Pfizer Inc., and GlaxoSmithKline plc, among others. These players are eyeing on strengthening their position in the market by adopting various strategies as mergers and acquisitions, partnerships, collaborations, new product launch and development in the existing product portfolio, and so on. For instance, in January 2018, Novartis AG has conducted a clinical trial for asthma drugs for the treatment of patients who are suffering from cold, asthma, and other types of flu. Further, in June 2018, GSK has collaborated with Theravance Inc. for the treatment of infectious disease. With this collaboration, the companies aim to develop new products to reduce the infections, which also cover flu related conditions.
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Market Coverage
Segment Covered-
o By Drug Type
o By Dosage Type
o By Distribution Channel
• Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape: Novartis International AG, Pfizer Inc., and GlaxoSmithKline plc, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Cold Remedies Market Report by Segment
By Drug Type
- Antihistamines
- Expectorants
- Bronchodilators
- Decongestants
- Antibiotics
By Dosage Type
- Oral Syrups
- Tablets/Pills
- Nasal Drops
- Lozenges
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Supermarkets/Hypermarkets
- E-Commerce/Online Pharmacies
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Article source: https://article-realm.com/article/Business/69724-Cold-Remedies-Market-Trends-Business-Overview-Industry-Growth-and-Forecast-to-2031.html
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