Guaifenesin Market - Forecast(2024 - 2030)

Guaifenesin Market Overview

The global guaifenesin market size is forecasted to reach USD95 million by 2027, after growing at a CAGR of around 3.1% from 2022 to 2027. The guaifenesin is an ether of glycerin and guaiacol and is used as an expectorant which helps in cleaning the phlegm and cough from the airways and makes breathing easier. It is used in treating acute rhinosinusitis, cough, mucus, through a combination of cough suppressants such as dextromethorphan, and ephedrine, and others including trimethoprim, sulfamethoxazole, and decongestants. The major demand of guaifenesin in pharmaceutical medications for cough, bronchitis, chest congestion, and other applications is creating a drive in the global guaifenesin market. Furthermore, the development in medical and pharmaceutical sector and innovative drug technologies will offer major growth in the market during the forecast period.

COVID-19 Impact

The covid-19 outbreak created major impact in the global guaifenesin market. The guaifenesin has major pharmaceutical medication application in multispecialty hospitals, clinics, and others. The pharmaceutical and hospital sector was majorly affected by the disruption, production halts, supply chain disturbances, and other lockdown restrictions. The supply of medicine, medical utilities, and other resources faced disruption. Moreover, the hospital infrastructure and drugs production faced slowdown during the initial phase of pandemic in early pandemic phase. However, the surging production and demand of cough and cold medications in the recovery phase led to major growth opportunities in the market. According to the U.S. Center for Medicare & Medicaid Services (CMS), the Medicaid spending increased by 9.2% to USD 671.2 billion in 2020 and 6.4% increase in hospital spending in US. Thus, with flourishing hospital infrastructure, growth in drug production, and healthcare development post covid-19 phase, the global guaifenesin market will experience a major growth and demand in the coming years.

Report Coverage

The “Guaifenesin Market Report– Forecast (2022-2027)” by IndustryARC covers an in-depth analysis of the following segments of the global guaifenesin industry.

Key Takeaways

• The global guaifenesin market size will increase owing to its growing usage of guaifenesin for pharmaceutical medications application, cough treatment uses, veterinary anesthetic usage, and high demand across major end use sectors during the forecast period.
• The North America is the fastest growing region in the global guaifenesin market due to developing medical infrastructure, growing cases of respiratory and cough related complications, and rising health expenditure.
• The demand of guaifenesin for application in cough treatment drugs and medication is growing during the forecast period, thereby offering major growth in the market.

Guaifenesin Market Segment Analysis – By Application

By application, the cough treatment drug is the fastest growing segment and is expected to grow with a CAGR of around 3.7% during the forecast period. The guaifenesin is an active ingredient used in the cough medications, and it works by thinning the mucus in air passage and allows cough up of the mucus. The growing application of guaifenesin in cough treatment drugs in various forms such as syrup, tablet, granules, and others for pediatric and geriatric age group is boosting the growth in the market. Furthermore, the increasing usage of guaifenesin for application in the cough treatment drugs across hospitals, clinics, and others is offering major demand in the market. According to the National Investment Promotion & Facilitation Agency, the Indian Pharmaceutical sector is expected to reach USD 65 billion by 2024 and around USD 120-130 billion by year 2030. Thus, with high demand for cough treatment drugs application of guaifenesin, along with flourishing growth of this expectorant in pharmaceuticals, the global guaifenesin industry will grow rapidly during the forecast period.

Guaifenesin Market Segment Analysis – By End-Use Industry

By end-use industry, the multispecialty hospital segment held the largest global guaifenesin market share in 2021, with a share of over 57%. The guaifenesin medication is used in the hospitals for treatment of cough, chest congestion, bronchitis, and others. The guaifenesin is high in demand for its application in mucus release, chest congestion medications, cough treatment drugs, and muscle relaxant sedative. The application of guaifenesin in hospital as prescription medication for treating cough, respiratory problems, decongestant, and others for pediatric as well as geriatric population is flourishing. According to the American Hospital Association (AHA), around 30.3% increase in the hospital drug expenses per adjusted discharge was reported in U.S in 2020-21 compared to 2019. Moreover, the robust advancement in the hospital infrastructure, innovation in drug delivery and processing projects will boost the growth prospects for the guaifenesin. Thus, with the increasing application of guaifenesin as cough treating expectorant and mucus release medication, the global guaifenesin industry will grow rapidly during the forecast period.

Guaifenesin Market Segment Analysis – By Geography

By geography, the North America is the fastest-growing region in the global guaifenesin market and is expected to grow with a CAGR of around 4.5% during the forecast period. The high demand of guaifenesin in this region is influenced by flourishing end-use industries and development in the pharmaceutical sector. The guaifenesin is increasingly used in hospitals, clinics, and others for offering relief from acute rhinosinusitis, chest congestion, coughing issues, and mucus. Moreover, the rise in medical infrastructure development and growing demand of pharmaceutical drugs across paediatric, geriatric, and other patients in this region is offering major growth in the global guaifenesin industry. According to the European Federation of Pharmaceutical Industries and Association (EFPIA), the North America region accounted for the largest pharmaceuticals sales of 49% in 2020. Thus, with major growth and demand of guaifenesin long with other drugs component and flourished awareness of guaifenesin in this region, the global guaifenesin market will grow during the forecast period.

Guaifenesin Market– Drivers

Increasing number of cough cases

The guaifenesin is an expectorant that is used in medication for the treatment of cough and chest congestion. It helps by thinning the mucus and aids in ease for passage through airway. The rise in whooping cough or the pertussis cases is boosting the demand of guaifenesin-based medication and treatment drugs. The drugs can be combined with antibiotics such as cephalosporins, sulfamethoxazole, and others as a potential treatment. According to the Center for Disease Control and Prevention (CDC), the estimated pertussis cases across the world is valued 24.1 million and around 1,60700 deaths per year. The rising cases of respiratory complications, cough, chest congestions, and others is creating a drive and offering major growth opportunities in the global guaifenesin market.

Growing demand in the hospital sector

The guaifenesin has growing demand for application in the hospitals for a wide range of applications such as cough treatment drugs, chest congestion, and others. It is available in various over the counter medications and prescribed to patients with chest complications, bronchitis, and other cough and mucus related issues. Moreover, the growth in the pharmaceutical sector and advancement in technology for drugs and medication, the demand for guaifenesin is flourishing for various treatment and muscle relaxant uses. According to the India Brand Equity Foundation (IBEF) the hospital sector in India is expected to rise to USD 132.84 billion by 2022 from USD 61.79 billion in 2017. Thus, the global guaifenesin market is experiencing a major drive and growth opportunities with rising application and demand in hospitals for usage in pharmaceutical medications and treatment.

Guaifenesin Market Challenges

Availability of substitutes and potential side effects

The guaifenesin is an expectorant used in medications for treating cough and chest congestions. However, the global guaifenesin industry faces major challenge with the availability of substitute and efficient expectorant alternatives such as dextromethorphan, benzonatate, noscapine, and others. Moreover, the side effects associated with high concentration guaifenesin such as headache, dizziness, constipation, rash, nausea, and others lead to major health impacts. Thus, the competition and threat from various alternatives available in the market, the demand of guaifenesin faces slowdown in growth, thereby creating a major challenge in the industry.

Guaifenesin Industry Outlook

The global guaifenesin top 10 companies include:

1. Granules India Limited
2. Gennex Lab
3. Stellar Chemical Private Limited
4. Yuan Cheng Group
5. Seven Star Pharma Limited
6. Biesterfeld AG
7. Haizhou Pharma Co., Limited
8. Iwaki Seiyaku Pan Drugs Co. Limited
9. Synthokem Labs Private Limited
10. Camlin Fine Science Limited

Recent Developments

• In February 2020, the Granules India got the approval for guaifenesin extended-release tablets, which is used as an expectorant, thereby adding Guaifenesin ER tablets in the OTC product portfolio in the US.
• In October 2019, the Aurobindo Pharma received the approval from USFDA for its guaifenesin expectorant tablet manufacture in strength of 1,200 mg and 600 mg.
• In July 2019, the Dr. Reddys Laboratories Limited announced the launch of OTC store-brand equivalent of Mucinex D extended release tablet. The OTC guaifenesin and pseudoephedrine HCI will boost the product portfolio in the market.

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