Throat Pastilles and Cough Drops Market size to increase by USD 1.25 billion, North Amereica to account for 34% of market growth - Technavio

Market Dynamics: Drivers, Trends, and Challenges

• Key Driver: The rising prevalence of respiratory tract infections, such as colds and flu, is a primary growth driver. Increased demand for pharmaceutical cough remedies, including throat lozenges and herbal pastilles, is boosting market momentum.
• Emerging Trend: The emergence of innovative products, such as sugar-free and herbal lozenges, is reshaping consumer preferences. Companies are also enhancing distribution networks and packaging techniques to improve accessibility and shelf appeal.
• Major Challenge: The market faces competition from homemade remedies and the fragmented nature of the industry, alongside potential side effects of certain excipients, which may hinder growth.

Throat Pastilles and Cough Drops Market: Key Drivers and Insights

The throat pastilles and cough drops market is witnessing steady growth as consumers increasingly turn to convenient, affordable solutions for sore throats and cough relief. Factors such as seasonal illnesses, an aging population, and heightened health awareness are boosting demand for these products. The market’s expansion is further supported by the introduction of sugar-free, herbal, and medicated variants, catering to diverse consumer preferences. Technavio’s report, Global Throat Pastilles and Cough Drops Market 2023-2028, offers a detailed analysis of market trends, segmentation, and competitive dynamics, providing actionable insights for industry stakeholders.

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Market Segmentation

The throat pastilles and cough drops market is segmented by type, end-user, and geography, offering a comprehensive view of its structure:

By Type

• Hard Tablet Lozenges: The leading segment, driven by products like Vicks and Strepsils, widely available at low prices in retail and pharmacies.
• Soft Tablet Lozenges: Gaining traction for their soothing texture and appeal to younger consumers.
• Compressed Tablet Lozenges: Growing steadily, offering portability and long-lasting relief.

By End-User

• Hospitals: Used for patient care in respiratory treatment settings.
• Clinics: Preferred for quick relief in outpatient scenarios.
• Others: Includes retail consumers purchasing OTC products for personal use, the largest segment.

By Geography

• North America: Dominates with 34% market share, led by the U.S. due to high demand and innovation.
• Europe: Strong presence in the UK, Germany, and France, driven by cold weather and health awareness.
• Asia: Rapid growth in China and India, fueled by population size and rising disposable incomes.
• Rest of World (ROW): Emerging markets in Latin America, Middle East, and Africa showing potential.

Regional Insights: North America Leading the Charge

North America is poised to contribute 34% to the global throat pastilles and cough drops market growth during the forecast period. The region’s dominance is attributed to a high incidence of respiratory ailments, a well-established healthcare infrastructure, and the availability of affordable OTC remedies. In the U.S., brands like Halls and Ricola lead the market, supported by innovative flavors and formulations. Government investments in healthcare and the introduction of herbal and sugar-free options are further accelerating growth in this region.

Competitive Analysis: Key Companies

The throat pastilles and cough drops market is highly competitive, with numerous global and regional players vying for market share. Leading companies are focusing on product innovation, strategic partnerships, and expanded distribution to stay ahead. Key players include:

• Reckitt Benckiser Group Plc: Offers Strepsils, a widely recognized throat lozenge brand.
• Mondelez International Inc.: Known for Halls, a global leader in cough drops.
• Ricola Group AG: Specializes in herbal throat pastilles with natural ingredients.
• Johnson & Johnson: Provides medicated lozenges under various OTC brands.
• Prestige Consumer Healthcare Inc.: Markets Luden’s, popular for flavored cough drops.
• Pfizer Inc.: Offers Robitussin lozenges for cough suppression.
• Procter & Gamble: Features Vicks, a dominant player in hard tablet lozenges.
• STADA Arzneimittel AG: Supplies affordable throat pastilles across Europe.
• Aurobindo Pharma Ltd.: Expanding its OTC portfolio with cough remedies.
• CVS Health Corp.: Provides private-label throat pastilles and cough drops in its retail network.

Market Research Overview

Technavio’s report leverages extensive primary and secondary research, including interviews with industry experts and analysis of historical data from 2018 to 2022. It provides a holistic view of the market, covering:

• Market Size and Forecast: Projections for 2024-2028.
• Competitive Landscape: Insights into vendor strategies and product offerings.
• Trends and Challenges: Detailed examination of innovation and market hurdles.

Table of Contents Highlights

• Executive Summary: Market overview and key findings.
• Market Landscape: Segmentation and competitive analysis.
• Market Sizing: Growth projections and regional contributions.
• Vendor Analysis: Profiles of leading companies and their strategies.

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