Market Trends of Expectorant Drugs Industry
Over-the-counter medications are increasingly popular among consumers due to their convenience and affordability
Over-the-counter drug medications can be purchased without a prescription from healthcare professionals. These drugs are generally used in common respiratory conditions, such as coughs and congestion, by helping to loosen mucus and clear the airways. OTC expectorants are usually less expensive than prescription expectorants. OTC expectorants readily available at pharmacies and supermarkets simplify access for patients with mild respiratory symptoms like cough and congestion. This eliminates the need for doctors' visits and prescriptions, saving time and cost. For instance, in February 2023, the International Journal of Pharmaceutical Research and Applications stated that as a trend of increased use of OTC medications, approximately 20.8% of over-the-counter medications were taken by pregnant women during pregnancy in India in the year 2022.
Furthermore, OTC expectorants are generally cheaper than prescription or other respiratory medications. This affordability makes them a more attractive option for budget-conscious consumers. Also, manufacturers focus on FDA approval for OTC expectorants to ensure a market launch. For instance, in August 2023, Marksans Pharma received U.S. FDA approval to sell over-the-counter guaifenesin extended-release tablets in 600 mg and 1200 mg (OTC). Additionally, pharmaceutical companies promote expectorant drug effectiveness and ease of use for humans. This brand awareness and targeted marketing play a significant role in driving consumers' preference towards OTC options.
Hence, increasing the use of OTC medications and making them readily available in the market can also be effective treatment options for respiratory conditions, which are expected to grow in the coming years.
North America is Expected to Dominate the Expectorant Drugs Market
North America is expected to dominate the market owing to factors such as the high prevalence of respiratory diseases, the presence of key players, rising R&D expenditure, and the rapidly rising older population. Respiratory diseases are a significant health concern in North America, with the common cold, influenza, and pneumonia being among the most common causes of illness. For instance, in 2022, according to data published by the Centers for Disease Control and Prevention (CDC), 4.6% of adults in the U.S. reported having been diagnosed with COPD, emphysema, or chronic bronchitis. The primary symptom of asthma is excessive mucus production in the airways, leading to congestion, coughing, and difficulty breathing. Expectorant drugs like guaifenesin and ambroxol are helping by thinning and loosening mucus; due to this factor, the market will expand in the forecast period. For instance, in November 2023, the Centers for Disease Control and Prevention (CDC) reported that in 2022, 8.7% of adults and 6.2% of children younger than 18 years struggled with asthma in the U.S.
Expectorant drugs play a crucial role by providing significant relief to asthma patients, which increases the market expansion in the forecast period. For instance, in March 2023, according to Statistics Canada, asthma affected an estimated 3.8 million Canadians, with a prevalence ranging from 7-2% in Alberta. Due to the increasing adoption of expectorant drugs in the region, the market will see lucrative growth opportunities in the upcoming years.
The pharmaceutical companies actively launched and promoted expectorant drugs in the region. For instance, in March 2021, Merck KGaA received FDA approval for Gefapixant, an investigational, orally administered, selective P2X3 receptor antagonist. Gefapixant is used as a potential treatment for refractory chronic cough in adults.
Therefore, the market is expected to witness significant growth in the region due to those above, like the growing prevalence of respiratory disease, the rising geriatric population, and the manufacturing and development of new products.
