New York, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The global dextromethorphan market size is slated to expand at ~4% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 550 million by the end of 2035, up from a revenue of ~USD 380 million in the year 2022.Factors such as the growing menace of air pollution and concern about infections, as well as respiratory complications owing to exposure to polluted air, dust, and chemical fumes, are responsible for the growth of the market in the forecasted period.
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For instance, it is anticipated that air pollution worldwide is responsible for over 3 million premature deaths every year, besides accounting for ~3% of the global burden of disease.
Dextromethorphan Market: Key Takeaways
- Market in Asia Pacific to propel the highest growth
- Acute and Chronic Bronchitis segment to garner the highest growth
- Market in North America to grow at the highest rate
Growing COPD Prevalence to Drive Market Growth
Dextromethorphan belongs to the antitussive medication class and is used to relieve cough caused by the common cold, the flu, or other conditions. It helps relieve cough; it does not treat the cause of the cough or aid recovery as it only decreases activity in the part of the brain that causes coughing. The market is expected to grow in response to growing concern about the rising incidences of bronchitis and other respiratory disorders, as well as the growing geriatric population, who are more susceptible to colds and coughs, in addition to augmenting dextromethorphan's uses to relieve coughs caused by colds or influenza (flu). The World Health Organization (WHO) unveiled that COPD, or chronic bronchitis, is responsible for nearly 3.23 million deaths.
Dextromethorphan Market: Regional Overview
The market is segmented further into given major regions; North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Prevalence of Cough to Drive Growth in the Asia Pacific Region
The dextromethorphan market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2035. The market in the Asia Pacific region to witness noteworthy growth in the forecast period on the back of the existence of a vast pool of population in the region as well as the rapidly deteriorating air quality index besides growing cases of cough and rising usage of cough suppressants in the region. According to a report, nearly 40% of the physicians in India reported that approximately 11-20% of patients in the country suffer from dry cough. Moreover, ~57% and ~46% of the physicians in the country reported acute and chronic dry cough, respectively.
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Growing Use of Cough Syrup to Drive Growth in the North American Region
The market in the North American region is estimated to garner the highest CAGR by the end of 2035. The growing burden of influenza, as well as the increasing cases of bronchitis and bronchial asthma, along with the rising demand for cough syrups, including dextromethorphan syrup, in the region, are expected to propel market growth in the North American region in the forecast period. Between 2010 and 2020, the flu caused 9 million-41 million illnesses, 140,000-710,000 hospitalizations, and 12,000-52,000 deaths, according to data from the Centers for Disease Control and Prevention (CDC).
Dextromethorphan, Segmentation by Application
- Cold
- Acute and Chronic Bronchitis
- Bronchial Asthma
- Sore Throat
- Tuberculosis
- Others
The acute and chronic bronchitis segment is anticipated to hold the largest revenue by the end of 2035. The segment is expected to grow during the forecast period as a result of the increasing prevalence of bronchitis, particularly among the population living in low- and middle-income countries, as well as rising concern about whooping cough in middle-aged people who are prescribed dextromethorphan for relief. It is reported by the WHO that nearly 80% of the deaths caused by COPD occurred in low- and middle-income countries. Moreover, the cold segment is further expected to boost market growth, as most people with persistent cough issues prefer the intake of oral dextromethorphan tablets and cough syrups for relief.
Dextromethorphan, Segmentation by End-User
- Hospitals
- Retail Pharmacies
- Online Pharmacies
- Convenient Stores
The retail pharmacies segment is anticipated to hold the largest revenue by the end of 2035. The factors applicable to the growth of the segment include the rising awareness about dextromethorphan brands amongst the general population's growing population of older people who are more prone to suffer from colds and coughs, as well as the rising need for proper and regular treatment for the cough amongst these patients, backed by the easier availability of over-the-counter (OTC) medications, which are anticipated to boost the segment growth. The World Bank data revealed that globally, there were 7 billion people aged 64 years or older in 2020.
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Dextromethorphan, Segmentation by Product Type
- Tablets
- Syrup
- Others
A few of the well-known industry leaders in dextromethorphan market that are profiled by Research Nester are AstraZeneca plc, FibroGen, Inc., Novartis AG, Abbott Laboratories, GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Sunovion Pharmaceuticals Inc., Aurobindo Pharma Limited, Zydus Pharmaceuticals Inc., and other key market players.
Recent Development in the Dextromethorphan Market
- Astellas Pharma Inc., a Japanese multinational pharmaceutical company, and Iota Biosciences, Inc., a biotechnology company announced a merger agreement, binding which, Astellas will acquire Iota’s unique bioelectronics technology.
- AstraZeneca plc, a British-Swedish multinational pharmaceutical and biotechnology company entered into a long-term collaboration with BenevolentAI. They are committed to using artificial intelligence (AI) and machine learning for the discovery and development of new treatments for chronic kidney disease (CKD) and idiopathic pulmonary fibrosis (IPF).
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