Oral syrups segment is expected to expand at 2.9% CAGR over the estimated period and be valued more than US$ 10 Bn by the end of 2026. The segment is expected to create absolute $ opportunity of a little more than US$ 300 Mn in 2017 over 2016. The segment is the most acceptable dosage form for cough, cold, and sore throat medicines due to ease of administration and pleasant taste. The oral syrups segment dominated the global Cold, Cough and Sore Throat Remedies Market in terms of revenue in 2016 and the trend is projected to continue throughout the forecast period. Oral syrups segment is the most attractive segment, with attractiveness index of 1.5 over the forecast period.
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The majority of paediatric and geriatric patients prefer liquid as a delivery method over solid dosage forms, which is attributed to high proportion of oral syrups in the global cold, cough and sore throat remedies market. There is large scale adoption of oral syrups by pharmacy chains, especially in European countries, which is expected to fuel the sales of oral syrups in the global market. Most of the oral syrups are OTC (Over-the-Counter) drugs which do not need a doctor’s prescription. Consumers are conditioned to treat cold, cough and sore throat with OTC drugs than to seek healthcare professionals and this propels the growth of the oral syrups segment across the globe. Continuous launch of new and improved drug types and increasing investment in research and development by manufacturers in oral syrups would lead to the growth of the oral syrups segment in the global cold, cough and sore throat remedies market. An intake of oral syrups is suitable for all patients irrespective of their age. Particularly, oral syrups are prescribed mostly for children and elderly patients and this factor is creating a positive impact on the oral syrups segment.
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Emerging markets such as Brazil, Russia, India and China represent the larger market for OTCs and generics. Pharmaceuticals industry in these countries is dominated by the private sector, where pharma companies can reap larger revenue from the strong sales of oral syrups.
Oral syrups segment dominated the North America cold, cough and sore throat remedies market by doses type segment in terms of revenue in 2016, and the trend is projected to grow throughout the forecast period. Oral syrups segment is the most attractive segment in the North America cold, cough and sore throat remedies market, with attractiveness index of 1.5 over the forecast period. Revenue from the oral syrups segment is anticipated to increase at a CAGR of 1.9% over 2016–2026, to reach more than US$ 3,000 Mn by 2026. OTC cough syrups for children are receiving exceptional attention in the U.S. by regulators, physicians and parents due to safety concerns. In the last 3 years, FDA has withdrawn more than 200 cough syrups containing hydrocodone from the market.
In Latin America, revenue from the oral syrups segment is anticipated to increase at a CAGR of 3.6% over 2016–2026, to reach more than US$ 500 Mn by 2026. The segment is expected to record attractiveness index of 1.7 over the forecast period in Western Europe. Revenue from the oral syrups segment is anticipated to increase at a CAGR of 4.1% over 2016–2026, to reach a market value of a little more than US$ 5,000 Mn by 2026 in the APEJ cold, cough and sore throat remedies market.
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