Cold and Flu Drugs Market Size was valued at USD 15.2 Billion in 2022. The Cold and Flu Drugs market industry is projected to grow from USD 16.34 Billion in 2023 to USD 29.14 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast period (2023 - 2032). Increasing public awareness of seasonal illnesses and increased healthcare costs are the key market drivers accelerating market expansion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for cold and flu drugs is being driven by the rising awareness about health enhancing supplements. Most commonly, cold and flu supplements serve as immune boosters for people. Patients prefer cold and flu supplements over medications because of their natural qualities. The supplements help to strengthen immunity against the flu, the common cold, and other illnesses because they are natural concoctions produced from herbal extracts. Numerous over-the-counter cold and flu supplements, such as vitamin C, elderberry supplements, ginseng supplements, and garlic preparations, are offered in the market.
Additionally, changes in lifestyles and better access to supplements through offline and online merchants have fueled the demand for cold and flu supplements around the world. Consumers' growing understanding of the therapeutic benefits of several natural substances is also fueling the market for Cold and Flu supplements and over-the-counter (OTC) medications. Additionally, growing consumer spending is projected on a range of immune health products, such as Cold and Flu supplements. Customers have been requesting more Cold And Flu vitamins in order to boost immunity and prevent the spread of these ailments. The main goal of cold and flu supplements is to strengthen the immune system of the user.
A rise in financial resources and population is another factor influencing market expansion. As more public and private organizations focus their research and development efforts on creating drug delivery systems and effective medications that can be bought at the neighborhood pharmacy, medical supply store, or online, the potential for the cold and flu drugs market to grow is likely to rise. The market's progress may be hindered by restrictions such a lack of awareness of active drugs in underdeveloped and rural areas. Drug addiction and the risk for adverse drug reactions are the key factors preventing the Cold and Flu industry from growing.
For instance, the CDC estimates that the common cold prevents 22 million American students from attending class each year. In addition, the number of cold cases in the US each year is close to 1 billion. Thus, result in driving the Cold and Flu Drugs market revenue.
The Cold and Flu Drugs market segmentation, based on type includes Antihistamines, Expectorants, Bronchodilators, Decongestants, and Others. The antihistamines segment dominated the market. The symptoms of allergies or colds, such as itchiness, sneezing, and runny noses, are usually treated with antihistamines. They work by lessening the effects of histamine, which is a substance the body produces in response to an allergic reaction. Antihistamines are widely available without a prescription and come in a range of dose forms, including as pills, liquids, and nasal sprays.
The Cold and Flu Drugs market segmentation, based on Application, includes Over the Counter (OTC), and Rx. Over the Counter (OTC). The over the counter (OTC ) category generated the most income. This is because the prevalence of the common cold, the flu, and digestive problems is increasing. OTC drugs are pharmaceuticals that can be obtained by consumers without a prescription from a doctor. They are also known as non-prescription drugs.
Figure1: Cold and Flu Drugs Market, by Application, 2022&2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Cold and Flu Drugs market area will dominate this market. This is due to a greater emphasis being placed on keeping a healthy diet and lifestyle as North Americans embrace health consciousness.
Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure2: COLD AND FLU DRUGS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Cold and Flu Drugs market represents the second-largest market share. Growing demand for such supplements is influenced by shifting parental choices for preventative healthcare and a pro-active approach to sickness management. Further, the German Cold and Flu Drugs market held a dominant market share, and the UK Cold and Flu Drugs market was the European region's fastest-growing market.
The Asia-Pacific Cold and Flu Drugs Market is anticipated to see the fastest CAGR between 2023 and 2032. This is because of things like a dense population, urbanization, and more viral exposure. Moreover, China’s Cold and Flu Drugs market held a dominant market share, and the Indian Cold and Flu Drugs market was the Asia-Pacific region's fastest-growing market.
Cold and Flu Drugs Key Market Players& Competitive Insights
Leading market players are putting a lot of money on R&D to broaden the range of their goods, which will help the market for Cold and Flu Drugs grow even more. Additionally, market participants are engaging in a range of strategic initiatives to increase their worldwide reach, with important market developments such as the introduction of new products, contracts, mergers and acquisitions, increased investments, and cooperation with other organizations. to grow and endure in an increasingly competitive and challenging market environment, Cold and Flu Drugs industry must provide reasonably priced goods.
One of the main business strategies employed by manufacturers is to produce locally to reduce operational expenses in the Cold and Flu Drugs industry to develop market sector and provide benefits to customers. In recent years, the Cold and Flu Drugs industry has provided some of medicine's greatest important benefits. Major players in the Cold and Flu Drugs market, including F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, AstraZeneca, GSK plc, Lilly, Merck & Co., Inc., Novartis AG, and others, invest in operations for research and development in an effort to improve market demand.
Roche is the brand name for F. Hoffmann-La Roche AG, a multinational healthcare conglomerate with the diagnostics and pharmaceuticals sectors. The holding company, Roche Holding AG, trades its shares on the SIX Swiss Exchange. The corporate headquarters are located in Basel. The leading provider of cancer medications in the world and the fifth-largest pharmaceutical company in terms of sales is Roche. The business owns a totally owned affiliate of the American biotechnology corporation Genentech, as well as the Japanese biotechnology company Chugai Pharmaceuticals and the American businesses Ventana and Foundation Medicine. In 2020, With the FDA's clearance of its high-volume Sars-CoV-2 diagnostic test, which can analyze 1,400–8,800 samples in 24 hours using the exclusive Cobas 6800/8800 molecular testing system, the Roche Diagnostics division achieved a key milestone.
The Bristol-Myers Squibb Company, also known as Bristol Myers Squibb (BMS), is a pharmaceutical company with its headquarters in the United States. One of the biggest pharmaceutical firms in the world, BMS is headquartered in Princeton, New Jersey, and it often appears on the Fortune 500 list of the biggest American enterprises. It generated $46.2 billion in total revenue for the fiscal year 2022. Bristol Myers Squibb produces prescription medications and biologics for the following therapeutic categories: cancer, HIV/AIDS, cardiovascular disease, diabetes, liver disease, rheumatoid arthritis (RA), and psychiatric disorders. In 2022, BMS announced that it would buy Turning Point Therapeutics Inc. for a total of $4.1 billion in currency ($76 per share, a 122.5% premium to its most recent closing price), expanding its line-up of cancer medications to include repotrectinib.
Key Companies in the Cold and Flu Drugs market include
Cold and Flu Drugs Industry Developments
March 2021: Roche stated that it would pay $1.8 billion to purchase GenMark Diagnostics. According to the terms of the contract, Genmark Diagnostics will become a subsidiary and keep its core activities in Carlsbad, California.
September 2023: BMS disclosed that as part of a strategic license and partnership to create and market obexelimab, a brand-new, bi-functional antibody for autoimmune disorders, it will pay Zenas BioPharma $50 million up front.
May 2022: Nature's Way Products, LLC, announced a significant expansion of its Green Bay, Wisconsin, Gummy factory. Incorporating production, packaging, and warehouse space, the development will increase the present 80,000 square feet by 116,000 square feet. Early summer was the planned start date, and the project should be finished by the end of the third quarter of 2023.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 15.2 Billion |
| Market Size 2023 | USD 16.34 Billion |
| Market Size2032 | USD 29.14 Billion |
| Compound Annual Growth Rate (CAGR) | 7.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, AstraZeneca, GSK plc, Lilly, Merck & Co., Inc., Novartis AG, Pfizer Inc., Sun Pharmaceutical Industries Ltd., NATCO Pharma Limited, Mylan N.V., Sanofi and Bayer AG, |
| Key Market Opportunities | increasing public awareness of seasonal illnesses and increased healthcare costs |
| Key Market Dynamics | increasing product development investments by manufacturers |
Frequently Asked Questions (FAQ) :
In 2022, the market for antiviral medications was estimated to be worth USD 15.2 billion.
During the forecast time frame, 2023-2032, the market is anticipated to expand at a CAGR of 7.50%.
In terms of market share worldwide, North America dominated.
The leading companies in the market include F. Hoffmann-La Roche Ltd., AstraZeneca, Bristol-Myers Squibb Company, GSK plc, Lilly, Merck & Co., Inc., Novartis AG, Pfizer Inc., Sun Pharmaceutical Industries Ltd.
In 2022, the market was dominated by the antihistamines category.
The Over-the-Counter (OTC) market segment was dominant Globally.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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