Report Description of the OTC medication for Cough, Cold and Flu Market
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
Reason to buy the report:
- Facilitate decision-making based on strong current and forecast data for OTC Medications for Cough, Cold & Flu Treatment Market
- Develop strategies based on the latest regulatory framework
- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the OTC Medications for Cough, Cold & Flu Treatment market
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy-based consulting analysis
APAC OTC Medications for Cough, Cold & Flu Market Executive Summary
Steadily increasing population in the APAC, particularly in countries like China, India, and Bangladesh, leading to high market penetration and boosting the growth of the OTC medications for cough, cold and flu market in the Asia Pacific. The growth propelling factors of the Asia-Pacific over-the-counter (OTC) drugs market are product innovations, high penetration in emerging countries, like India and China, and the inclination of pharmaceutical companies toward OTC drugs over prescription drugs. This can be attributed to the rapidly growing population and an increase in the disposable income of the population, which may add critical mass to the population available to access OTC medication.
Market Size and Key Findings
The APAC OTC Medications for Cough, Cold & Flu market size stood at around USD XX billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
APAC OTC Medications for Cough, Cold & Flu market is likely to grow at a remarkable rate during the forecast period. Furthermore, many countries in South Asia-Pacific and Japan have a large number of the elderly population who are more prone to diseases. Thus, this factor is also likely to drive the OTC drugs market in the future.
Market Growth Drivers Analysis
The OTC medications for cough, cold, and flu market has been witnessing strong growth resulting from the rising demand from the consumers to self-medicate. In countries with high populations, such as China and India, the patients mostly rely on their neighborhood chemist to prescribe the appropriate medicines for illnesses, such as cough, cold, nasal congestion, or fever. In India, the frequency of certain ailments, like common colds and headaches, is significantly high and inconsistent across states. At the same time, consumers are becoming more prone to seeking OTC remedies and medicines rather than checking in with their physicians. In India, consumers are found to be dependent on OTC for cough, cold, or flu medicines, as these drugs are believed to offer instant relief. Owing to their easy procurement, the sales of OTC drugs for cough, cold, and flu have increased. Furthermore, many countries in South Asia-Pacific and Japan have a large number of the elderly population who are more prone to diseases. Thus, this factor is also likely to drive the OTC drugs market in the future.
The lack of awareness among the population and incorrect self-diagnosis are expected to hamper the market growth.
COVID-19 impact on “APAC OTC Medications for Cough, Cold & Flu Market”
Close to the beginning of 2021, COVID-19 disorder began to spread all through the planet, countless people in general were polluted with COVID-19 disease, and critical countries all through the planet have done foot limitations and work stoppage orders. Beside the clinical supplies and life support things organizations, most undertakings have been uncommonly impacted, and Cough and Cold Medicine adventures have been unbelievably affected.
Key companies profiled in the report include Pfizer, Inc., Novartis AG, Merck Group, Johnson and Johnson, GlaxoSmithKline PLC (GSK), The Procter and Gamble Company, Reckitt Benckiser Group PLC, Abbott Laboratories, Sanofi S.A., and Acella Pharmaceuticals, LLC (Alora Pharmaceuticals, LLC).
Products in Pipeline
The late-stage pipeline for seasonal influenza vaccines in the 3GM includes the first quadrivalent seasonal influenza vaccines in China from Sinovac, Chongqing Zhifei, and Wuhan, as well as a quadrivalent formulation of Fluad. Quadrivalent live-attenuated vaccines will launch in India (from the Serum Institute) and Japan (AstraZeneca’s FluMist, licensed by Daiichi Sankyo). Furthermore, two new inactivated quadrivalent vaccines from Biken and Denka Seiken will launch during the forecast period, as well as a novel plant-based influenza vaccine in Japan.
Notable Recent Deals
The U.S. Food and Drug Administration expanded the approved indication for Xofluza (baloxavir marboxil) to include post-exposure prevention of flu for patients 12 years of age and older after contact with an individual who has the flu. Xofluza, previously available only in tablet form, is also now available as granules for mixing in water.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario
WHO, through the WHO GISRS system, in collaboration with other partners, monitors influenza activity globally, recommends seasonal influenza vaccine compositions twice a year for the Northern and Southern hemisphere influenza seasons, guides countries in tropical and subtropical areas to choose vaccine formulations (Northern hemisphere vs. Southern hemisphere), to support decisions for timing of vaccination campaigns, and to support Member States to develop prevention and control strategies.