New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Throat Lozenges Global Market Report 2023" - https://www.reportlinker.com/p06486604/?utm_source=GNW
, Bliss GVS Pharma Limited, Sanofi S.A, Ricola AG, Wrigley Company, Bausch Health Companies Inc., Honibe, Ernest Jackson, and Mondelez International Inc.
The global throat lozenges market is expected to grow from $4.62 billion in 2022 to $4.89 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The throat lozenges market is expected to reach $6.03 billion in 2027 at a CAGR of 5.4%.
The throat lozenges market consists of sales of chewable and cough drops.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Throat lozenges refer to medicated candy that can soothe the user’s throat. Throat lozenges temporarily relieve a sore throat, throat irritation, or cough.
North America was the largest region in the throat lozenges market in 2022.Asia-pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in throat lozenges report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of throat lozenges are hard candy lozenges, soft lozenges, and compressed lozenges.Hard candy lozenges refer to lozenges that are in an amorphous or glassy condition.
Hard candy lozenges are used as drugs that provide pain relief in the mouth and pharynx for sore throats.The various ingredients of throat lozenges include menthol, mint, eucalyptus oil, peppermint oil, honey and ginger, lemon, and others.
They are sold in hospital pharmacy, retail pharmacy, online pharmacy, and other distribution channels to treat sore throat, cough and cold, and throat diseases.
The increasing prevalence of respiratory diseases is expected to propel the throat lozenges market going forward.Respiratory diseases refer to a type of disease that affects the lungs and other parts of the respiratory system.
Throat lozenges are used to treat respiratory tract infections and diseases. For instance, in September 2022, according to the Forum of International Respiratory Societies (FIRS), a US-based respiratory health advocacy organization, in 2022, globally around 200 million people are affected with chronic obstructive pulmonary disease, or COPD, accounting for roughly 3.2 million deaths annually. Therefore, the increasing prevalence of respiratory diseases will drive the throat lozenges market.
Innovative product offerings are a key trend gaining popularity in the throat lozenges market.Major companies in the throat lozenges market are launching various new and innovative products to sustain their position in the market.
For instance, in December 2020, Applied Biological Laboratories, a US-based biotechnology company, launched Biovanta, a 100% natural, safe, and effective over-the-counter drug for cough, cold, and sore throat. The product uses natural ingredients that provide maximum therapeutic benefit and are the most effective against respiratory inflammation.
In July 2021, Verfora, a Switzerland-based pharmaceutical company acquired Spagyros Ltd. for an undisclosed amount. The acquisition will help Verfora to strengthen pharmacies and drugstores with the addition of a range of products requiring intensive consultation and will also enhance the company’s leading position in the Swiss consumer healthcare market. Spagyros Ltd. is a Switzerland-based manufacturer of phytotherapy and complementary medicines, including sore throat lozenges and cold drops.
The countries covered in the throat lozenges market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The throat lozenges market research report is one of a series of new reports that provides throat lozenges market statistics, including throat lozenges industry global market size, regional shares, competitors with a throat lozenges market share, detailed throat lozenges market segments, market trends, and opportunities, and any further data you may need to thrive in the throat lozenges industry. This throat lozenges market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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