Global Oral Expectorant Market Size, Share, Revenue, Trends And Drivers For 2024-203
Oral Expectorant Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Oral Expectorant Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, August 19, 2024 /EINPresswire.com/ -- The global oral expectorant market2 is experiencing steady growth, with its size expected to increase from $3.99 billion in 2023 to $4.18 billion in 2024, reflecting a compound annual growth rate (CAGR) of 4.6%. This growth is driven by factors such as the rising prevalence of respiratory illnesses, increased demand for over-the-counter medications, a growing geriatric population, elevated pollution levels, greater awareness about respiratory health, and the expansion of pharmaceutical distribution channels. Looking ahead, the market is anticipated to reach $5.03 billion by 2028, with a CAGR of 4.8%, supported by ongoing investments in research and development, the growing demand for natural and herbal expectorants, regulatory approvals for new products, and rising healthcare expenditure.
Rise in Respiratory Illnesses Fuels Market Expansion
The increasing prevalence of respiratory illnesses is a major driver of growth in the oral expectorant market. Respiratory conditions, including asthma and chronic obstructive pulmonary disease (COPD), are on the rise due to factors such as air pollution and smoking. Oral expectorants play a crucial role in alleviating symptoms, clearing mucus, and improving respiratory health. For instance, the prevalence of asthma among adults in the U.S. increased from 8.4% in 2021 to 8.7% in 2022, while respiratory syncytial virus (RSV) cases rose by 9.50% from the previous year. These trends highlight the growing need for effective oral expectorants.
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Key Players and Major Innovations
Key players in the oral expectorant market include Bayer AG, Sanofi S.A., Bristol-Myers Squibb Company, and GlaxoSmithKline (GSK) plc. These companies are focusing on innovation to meet the rising demand for natural products. For example, Genexa Inc. launched an organic blueberry-flavored cough and chest congestion medicine in November 2022. This product, designed to be a clean alternative to conventional medicines, aims to provide consumers with a more palatable and natural option for managing cold and flu symptoms.
Major Trends
The oral expectorant market is witnessing several significant trends:
• Digital Health Integration: Incorporation of digital health platforms for medication management.
• Sustainable Practices: Shift towards sustainable packaging and manufacturing.
• Combination Therapies: Development of therapies targeting multiple respiratory symptoms.
• Personalized Medicine: Approaches based on genetic profiling and patient-centric care.
• AI and Big Data: Utilization for drug discovery and development.
Market Segments
• By Drug Type: Secretion Enhancer, Mucolytics
• By Dosage Form: Oral Solids, Oral Liquids, Inhalants
• By Medication: Prescription Drugs, Over The Counter Drugs
• By Distribution Channel: Hospital Pharmacy, Retail Store And Drug Store, Online Pharmacies
Regional Insights: North America Leading the Market
North America was the largest region in the oral expectorant market in 2023. However, other regions are expected to experience significant growth during the forecast period. The comprehensive report offers detailed insights into regional dynamics, market trends, and opportunities.
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Oral Expectorant Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Oral Expectorant Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on oral expectorant market size3, oral expectorant market drivers and trends, oral expectorant market major players, competitors' revenues, market positioning, and market growth across geographies. The oral expectorant market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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