PUNE, India, May 14, 2020 /PRNewswire/ -- A recent report by Infinium Global Research "Cough, Cold, and Allergy Remedies Market (By Drug Type – Antihistamines, Expectorants, Bronchodilators, Decongestants, Antibiotics and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025." Cough, Cold, and Allergy Remedies Market was valued at USD 32,420.17 Million and it is projected to reach USD 44,127.01 Million by 2025, registering a CAGR of 4.57% between 2019 and 2025. The report provides a comprehensive research study based on survey conducted to analyze the buying patterns, consumer behavior and factors affecting buying decisions. The report also provides insights into the marketing strategies and steps taken by the companies to retain their market position in the local and/or global market. The study also provides insights into the factors affecting the buyer decisions, consumer preferences, and the demographic factors promoting the growth of the products of Cough, Cold, and Allergy remedies market.
Effectiveness and Ingredients Among the Most Preferred Attributes of Cough, Cold, and Allergy Remedies
The report includes a detailed study on the consumer preference towards various product attributes of cough, cold, and allergy remedies. According to the survey results, the majority of the people in the world look for better effectiveness and safe ingredients in their cough, cold, and allergy remedies. Growing awareness about products and their quality through various media channels has contributed to the higher preference for the effectiveness and ingredients of the products. Moreover, the growing competition in the market leads to the development of products with improved effectiveness and different and safe ingredients. This, in turn, offers a number of and better options for the consumers to choose from.
Key players in the Global Cough, Cold, and Allergy Remedies Market are Focusing on New Product Launch and Mergers and Acquisitions
The global cough, cold, and allergy remedies market is highly competitive and consolidated in nature. The market is attributed to the presence of large multinational players as well as a few smaller and local players. Companies including P&G, GSK, and Reckitt Benckiser hold a large share in the global cough, cold, and allergy remedies market. These companies own some of the prominent brands in the global cough, cold, and allergy remedies market including Vicks, Actifed, and Mucinex. These brands have strong brand image and brand loyal consumers, which supports the consolidation of the market. The key players in the market are focusing on strategies including product launches and undertaking mergers and acquisitions actvities. For instance, in July 2019, Dr. Reddy's Laboratories launched an OTC store-brand equivalent of Allegra-D® 12 HR Allergy and Congestion Extended-Release Tablets in the US market. The Fexofenadine HCl 60 mg and Pseudoephedrine HCl 120 mg Extended-Release Tablets are approved by the U.S. Food and Drug Administration. The product launch is expected to consolidate the position of the company in the US market
Cough, Cold, and Allergy Remedies Market to Grow on the Backdrop of Wider Availability of OTC Remedies
The availability of number of OTC products for cough, cold, and allergy treatment is the major driving force for the growth of the global market. The major players in the market offer a wide variety of products to the customers to choose from. Companies offer different products such as anti-congestant and cough suppressant tablets, balms, rubs, syrup and nasal drops. The broader variety of products offered by the companies provides consumers with number of options to choose from. This, in turn, encourages consumers to buy product that suits their needs, leading to higher sale of the products. In addition, OTC products are easily accessible and convenient to use. This further adds to the growth of the market.
Moreover, the other factors including growing trend of self-medication and higher awareness regarding different remedies for cough, cold, and allergy is expected to augment the demand for cough, cold, and allergy remedies market across the world. Furthermore, innovations in cough, cold, and allergy remedies are expected to augment the growth of the market in the future. Innovative products with natural and herbal ingredients are entering in the market, offering new business opportunities to the players in the market.
Bronchodilators to Augment the Sales of Cough, Cold, and Allergy Remedies
The bronchodilators segment among the drug type generated highest revenue in the global cough, cold, and allergy remedies market in 2019. The domination of the segment attributed to the higher prevalence of asthma among the population across the world. Around 300 million individuals across the world are suffering from asthma and about 250,000 deaths are reported worldwide due to asthma. Bronchodilators are used for treating asthma by opening the airway passages. They are also used for expanding the wind pipe, which improves the breathing of the patients suffering from lung infections, bronchial asthma, and chronic obstructive pulmonary disease (COPD).
North America Generated Highest Revenue in the Global Cough, Cold, and Allergy Remedies Market
In terms of Region, the North America region generated the highest revenue in the global cough, cold, and allergy remedies market in 2018. The domination of the North America region in the global market attributes to better healthcare infrastructure and higher awareness regarding cough, cold, and allergy remedies. Moreover, the market players in the region offer a broader variety of OTC products to the consumers. The large variety of products in the market leads to the higher sale of the cough, cold, and allergy remedies. This, in turn, drives the cough, cold, and allergy remedies market in North America. Furthermore, the presence of major market players such as P&G, and Johnson & Johnson in the region is expected to boost the demand for cough, cold, and allergy remedies in North America.
This Report Offers Detailed Insights of the Market Including-
1. Comprehensive analysis of the factors promoting the growth in the cough, cold, and allergy remedies market
2. Survey results for
a. Consumer preferences
b. Buying patterns
c. Spending habits
d. Purchase decision making
e. Preferred distribution channels
f. Choice of alternatives in case of unavailability of the product
g. Consumer feedback
h. Social listening
3. Competitive landscape in the leading country markets in the world
4. Worldwide competitive landscape and market trends in the Cough, Cold, and Allergy remedies market
5. Analysis of the worldwide market using analytical tools such as porter five forces, market drivers and opportunity analysis, product position matrix
Research Methodology and data collection methods for the report
Infinium Global Research published reports are based on extensive primary and secondary research methods. The research begins with extensive exploration through secondary sources followed by primary research. With these research methods we are able to estimate the market size of the Cough, Cold, and Allergy remedies market, to identify the factors that promote the growth in this market as well as the factors that hamper the growth in the market.
The secondary research primarily involves extensive exploring through the secondary sources of information available in both public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources. While the primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents. The primary respondents generally include key opinion leaders associated with Infinium Global Research, internal and external subject matter experts, and professionals and participants from LinkedIn, Hoovers, Factiva and bloggers.