Very few individuals consult doctors for common conditions such as cold, cough and allergies; most of them opt for OTC medicines instead.† In the view of such prominent practices, the global sales of the OTC cough, cold and allergy medicines have remained propped up for the past decade or so. Cough, cold and allergy medicines†are one of most common OTC (over-the-counter) categories, however, physicians recommend their use only for minor health issues. In many countries, there are certain laws enforced on directs sales of these medicines in order to ensure consumer safety.† In addition, these medicines offer extreme convenience to a modern consumer, living a fast-paced life. The aforementioned factors are expected to reflect favorably on the global OTC cough, cold and allergy medicines market over the next five years. Moreover, an increasing number of immunosuppressed individuals and rising global geriatric population is also expected to further drive the demand OTC medicines for cough, cold and allergy.
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The recent study conducted by FactMR reveals that the global†OTC Cough, Cold and Allergy Medicine Market†is poised to increase at a CAGR of 4.9% during 2017 to 2022 to reach a valuation of around US$ 37,300 Mn.
Asia-Pacific excluding Japan (APEJ) to Remain the Largest Market for OTC Cough, Cold and Allergy Medicines
Asia-Pacific excluding Japan (APEJ) is projected to remain the most lucrative market for OTC cough, cold and allergy medicines throughout the forecast period. In terms of revenue, APEJ is anticipated to account for an impressive share of the global market in 2017 and beyond. The regionís proximity to air pollution has led to the rise in prevalence of various respiratory disorders. Moreover, acceptance rate of OTC medicines is extremely high in the region owing to their low cost and convenience of purchase.
By drug type, antihistamine is projected to account for more than one-third share of the market in terms of revenue by 2017-end. Antihistamines drugs reduce the release of histamine from histamine-1 receptors and are commonly used for treating allergic reactions such as inflammation (redness), swelling (edema), watery eyes or runny nose and sneezing.
Pharmacies will remain the leading OTC channel for sales of cough, cold and allergy medicines during the assessment period.† Meanwhile, drug store OTC channel segment is expected to account for the second largest revenue share of the market by 2017-end.
By dosage, the tablet segment is estimated to account for more than 33% revenue share of the market and is expected to reach a valuation of around US$ 12,400 Mn towards the end of the forecast period.
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Key companies profiled in Fact.MRís report include Sanofi-Aventis, Johnson & Johnson Service, Inc., Reckitt Benckiser Group Plc., Novartis AG, GlaxoSmithKline Plc., AstraZaneca Plc., Pfizer Inc., Sun Pharmaceutical Industries Ltd., Prestige Brands Holdings, Inc., Procter & Gamble Co., Bristol-Myers Squib Co., Merck & Co., and Allergen. Many of these market players are actively focusing on increasing their market presence and development of more efficient products.
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Global OTC Cough, Cold & Allergy Medicine Market Projected to Witness a Single-Digit CAGR During 201
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