Combination drug segment is expected to drive the growth of the Asia Pacific chronic cough market by drug class
According to the latest study on ‘Chronic Cough Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Drug Class, Route of Administration, Distribution Channel, and Country,’ the Asia Pacific chronic cough market was valued at US$ 1,136.66 million in 2019 and is projected to reach US$ 2,155.25 million by 2027; it is expected to grow at a CAGR of 8.4% during 2020–2027. The report highlights the trends prevailing in the Asia Pacific chronic cough market and the factors driving the market along with those that act as deterrents to its growth.
Based on drug class, the chronic cough market is segmented antihistamines, corticosteroids, decongestants, combination drug, antibiotics, acid blockers, and other drug class. In 2019, the combination drug segment accounted for the largest share of the Asia Pacific chronic cough market. The growth of the segment attributes to the to rising incidences of chronic cough, growing product developments to treat chronic cough are some of the primary factors contributing to the dominance of the segment in the Asia Pacific chronic cough market. Additionally, The origin of the COVID-19 pandemic is confirmed from China, and the outbreak has affected several countries across the world. The countries have faced lockdown, which has resulted in economic slowdown and crisis. Countries such as China and India have major generic pharmaceutical companies. Majority of the raw materials required for the pharmaceutical sectors. It has affected the trade of pharmaceutical raw materials to other countries such as the US and several European countries. However, the product demand for cough medicines has increased. Also, production from the local players has increased dramatically. For instance, Biocon has substantially continued its production for pharmaceutical products with the compliance of government regulations. It has also managed to supply raw materials to vendors for the production of pharmaceutical products. Thus, the production of pharmaceutical products by the local players have stabilized the pharmaceutical sector in Asian countries
. Furthermore, aging population is expected to drive demand for chronic cough treatment is likely to offer significant opportunities for the growth of the Asia Pacific chronic cough market.
Novartis AG, Teva Pharmaceutical Industries Ltd, GlaxoSmithKline plc., Bayer AG, Mylan N.V., Amneal Pharmaceuticals, Inc., Cipla Inc., Reckitt Benckiser Group plc., Sun Pharmaceutical Industries Ltd,
Aurobindo Pharma Ltd are among the prominent players present in the chronic cough market. The market players are focused on mergers and acquisitions to sustain their position in the market. For instance, in Mar 2018 GSK reaches agreement with Novartis to acquire full ownership of Consumer Healthcare Business. GSK will buyout Novartis 36.5% stake in their Consumer Healthcare Joint Venture for US$13 billion (£9.2 billion).
The report segments the Asia Pacific chronic cough market as follows:
By Drug Class
- Antihistamines
- Corticosteroids
- Decongestants
- Combination Drug
- Antibiotics
- Acid Blockers
- Other Drug Class
By Route of Administration
- Oral
- Injections
- Nasal
- Other Route of Administration
By Distribution Channel
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
By Country
- Japan
- China
- India
- South Korea
- Australia