Market Overview:

The Cold Remedies Market size is estimated to reach $15.8 billion by 2030, growing at a CAGR of 8.7% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Cold Remedies Market – By Drug Type (Antihistamine, Expectorants, Bronchodilator, Decongestants, Antibiotics, Natural Remedies, and Others), By Dosage Type (Syrup, Tablets, Capsules, Nasal Drop, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Supermarkets/Hypermarkets, and Online), By Geography – Opportunity Analysis & Industry Forecast, 2024-2030”

The increasing number of cold cases and a growing geriatric population are fueling the growth of the Cold Remedies industry during the forecast period.

North America Dominated the Market in 2023:

North America dominated the global Cold Remedies market in 2023 with an impressive market share of 38%, establishing itself as the largest regional hub. The region’s mature healthcare infrastructure, well-developed distribution channels, and high consumer awareness have contributed to its market leadership. Strategic investments in advanced medical products, improved supply chains, and robust regulatory frameworks support its enduring dominance. Consistent seasonal demand, driven by cold-related illnesses, reinforces its status. This market leadership is further enhanced by sustained government backing and stable economic conditions, ensuring that North America remains the preeminent center for cold remedy products on the global stage. 

Cold Remedies Market: Key Takeaways

Increasing Number of Cold Cases Drives the Demand for Cold Remedies:

The escalating frequency of cold cases is a critical driver for the cold remedies market. Seasonal fluctuations, allergies, and respiratory issues have led to more individuals experiencing cold symptoms globally. Heightened awareness of patient safety and evolving lifestyles further fuel the demand for effective relief. As more people seek rapid recovery from cold discomfort, pharmaceutical companies and healthcare providers are expanding their offerings with innovative, fast-acting formulations. This trend not only reinforces consumer trust but also creates significant growth opportunities across the industry, as manufacturers adapt to increasing cases by enhancing product efficacy and broadening market penetration to meet rising global needs.

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Growing Geriatric Population is Driving the Market Growth:

The expanding geriatric population is a significant catalyst for the cold remedies market. Projections indicate that by 2030, 1 in 6 individuals will be 60 years or older, with the population doubling to 2.1 billion by 2050. Additionally, those aged 80 and above are expected to triple from 2020 levels, reaching 426 million. As aging consumers become more prone to cold symptoms and respiratory ailments, their demand for effective, targeted treatments increases. Consequently, pharmaceutical companies are prioritizing research and development in cold remedies tailored for seniors, ensuring improved safety and efficacy, thereby securing a growing market share in this vital demographic segment. 

Scope of the Report: 

    Report Metric

                          Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

8.7%

Market Size in 2030

$15.8 billion

Segments Covered

By Drug Type, By Dosage Type, By Distribution Channel, and By Region
 

Geographies Covered

North America (U.S, Canada, and Mexico), Europe (U.K., Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, Taiwan, Indonesia, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa).


 

Key Market Players
  1. Johnson and Johnson
  2. GlaxoSmithKline plc
  3. Bayer AG
  4. Prestige Brands Holdings, Inc.
  5. Procter & Gamble Corporation
  6. Reckitt Benckiser Group plc
  7. Sun Pharmaceutical Industries Ltd.
  8. Haleon plc.
  9. Novartis AG
  10. Sanofi Group

Recent Developments:

  • In October 2023, GSK's new vaccine, Arexvy, approved for adults aged 50-59, holds potential in the Cold Remedies Market by bolstering immunity against respiratory infections. Its launch signifies an innovative approach in combating cold-related illnesses, catering to the health needs of the aging population.


Cold Remedies Market: Competitive Landscape

Key companies profiled in the Cold Remedies Market are Johnson and Johnson, GlaxoSmithKline plc, Bayer AG, Prestige Brands Holdings, Inc., Procter & Gamble Corporation, Reckitt Benckiser Group plc, Sun Pharmaceutical Industries Ltd., Haleon plc., Novartis AG, Sanofi Group, and others.

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