$12.0bn
$X.Xbn
11,356
101
$X.Xbn
Companies in the Cough and Cold Medicine Manufacturing OTC industry have benefited from increasing consumers purchasing over-the-counter (OTC) medications to address ailments with at-home treatments. The COVID-19 pandemic has been the most prominent proponent for industry demand. In 2020 industry revenue increased as consumers stockpiled industry products to address symptoms and potential infection with the fear of a new COVID-19 variant. Overall, industry-wide revenue has been growing at a CAGR of 5.6% over the past five years and is expected to total $12.0 billion in 2023, when payment will jump by an estimated 8.6%. Similarly, unprecedented demand will precipitate and keep profit elevated.Demand spike was experienced amid the H1N1, or swine flu, epidemic in 2009 and 2010, resulting in industry revenue rising 59.2% and 11.7%. The pandemic benefits industry production in terms of applicability and affordability. Like the swine flu epidemic, COVID-19 is an upper respiratory system infection, causing symptoms identical to the general flu. Since coughing, congestion and fever are all addressed with cough and cold medicines, industry manufacturers remain the primary option for individuals experiencing these ailments. Further, the economic slowdown due to stagnated business activity will constrain national household income levels. Thus, OTC medications, such as those manufactured by this industry, will benefit a more significant portion of price-sensitive consumers because prescription pharmaceuticals require consultation and are more expensive. This demand spike will precipitate similar increases in other industry areas, like enterprises and employment.Moving forward, industry revenue is forecast to grow at a CAGR of 1.6% over the five years through 2028 to total $13.0 billion. Like the swine flu epidemic, industry demand will moderate back to pre-pandemic levels. Demand from online sales will continue increasing as it becomes more affordable with ease of access.
Industry revenue has grown at a CAGR of 5.6 % over the past five years, to reach an estimated $12.0bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Pfizer Inc. | 1,146.1 | 380.4 | 33.2 | |
Johnson & Johnson | 482.5 | 120.6 | 25.0 | |
Reckitt Benckiser Group Plc | 436.6 | 37.2 | 8.5 |
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Industry revenue is measured across several distinct product and services lines, including Tablets and packets , Liquid powders and Nasal products . Tablets and packets is the largest segment of the Cough & Cold Medicine Manufacturing OTC in the US.
Tablets and packets lead the industry
This industry manufactures over-the-counter (OTC) cough and cold treatments and suppressants. Products include systemic remedies, such as antihistamines and combination products, decongestants and medicated candies. The industry does not include companies that are primarily retailers, such as pharmacies or department stores.
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NAICS 32541 - Cough & Cold Medicine Manufacturing OTC in the US
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Including values and annual change:
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The market size of the Cough & Cold Medicine Manufacturing OTC in the US industry in United States is $12.0bn in 2024.
There are 101 businesses in the Cough & Cold Medicine Manufacturing OTC in the US industry in United States, which has grown at a CAGR of 3.5 % between 2018 and 2023.
The market size of the Cough & Cold Medicine Manufacturing OTC in the US industry in United States has been growing at a CAGR of 5.6 % between 2018 and 2023.
Over the next five years, the Cough & Cold Medicine Manufacturing OTC in the US industry in United States is expected to grow.
The biggest companies operating in the Cough & Cold Medicine Manufacturing OTC market in United States are Pfizer Inc., Johnson & Johnson and Reckitt Benckiser Group Plc
Conducting market research for OTC cough and cold medication and Developing OTC cough and cold medication are part of the Cough & Cold Medicine Manufacturing OTC in the US industry.
The company holding the most market share in United States is Pfizer Inc..
The level of competition is moderate and increasing in the Cough & Cold Medicine Manufacturing OTC in the US industry in United States.