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Rising Consumption of OTC Medicnies for Management of COVID Symptoms to Drive CCA Treatment Market

Date: 17th Nov 2020 | Category: Pharma & Healthcare

The global cough, cold & allergy (CCA) treatment market is expected to reach US$35.36 billion in 2024, growing at a CAGR of 3.90%, for the duration spanning 2020-2024. The factors such as rising demand for over-the-counter (OTC) medicines, upswing in air pollution, growth in the geriatric population, increasing pharmaceutical R&D spending, rising prevalence of asthma and upsurge in healthcare expenditures would drive the growth of the market. However, the market growth would be challenged by abusive use of OTC CCA drugs, threats associated with drugs counterfeiting and legal regulations. A few notable trends may include escalating demand for antihistamines nasal therapy, accelerating growth rates of infectious diseases, increasing focus on telehealth and growth in pharmaceutical & biotech merger & acquisition. 

The global CCA treatment market is highly competitive and consolidated in nature. The market is comprised of large multinational players as well as a few smaller and local players. Such players continue to invest considerable funds in developing new drugs in the market, which is resulting in the expansion of the CCA drug portfolio and thereby significantly contributing to its market growth on a global scale. 

The fastest growing regional market is the U.S., due to the presence of the well established pharmaceutical brands, having a strong brand image and brand loyal consumers, which has supported the consolidation of the market. Further, the sudden outbreak of the COVID-19 pandemic is resulting in the growing demand for and sales of OTC drugs for the management of common coronavirus symptoms of cough, cold, flu, rhinitis, which is providing a growth opportunity to the global CCA treatment market during the forecasted period. 

Scope of the report:

The report provides a comprehensive analysis of the global cough, cold & allergy (CCA) treatment market.

The major regional markets (The U.S., Europe5, Japan and ROW) have been analyzed. 

The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

The competitive landscape of the market, along with the company profiles of leading players (Johnson & Johnson, Pfizer, Novartis AG, Merck & Co., Sanofi and Bristol-Myer Squibb) are also presented in detail.

Key Target Audience:

Cough, Cold & Allergy Drugs Manufacturers

Pharmaceuticals and Biopharmaceutical Firms 

End Users (Hospitals and Research Institutes)

Investment Banks

Healthcare and Medical Consultants. 

Government Bodies & Regulating Authorities