High prevalence of cough is the urgent factor for rising demand in cough suppressant drugs, which drives the market growth. According to information published by the National Center for Biotechnology Information in 2014, cough is the most common reason for visits to medical care physicians globally, accounting for around 8% of all consultations.
In March 2018, Perrigo Company PLC. received FDA approval for the brand OTC equivalent of Mucinex DM Maximum Strength (Guaifenesin and Dextromethorphan Hydrobromide Extended-release Tablets, 1200 mg/60 mg). Mucinex DM Maximum Strength is indicated to regulate coughs and to interrupt up mucus, making coughs more productive.
Approval and launch of such new drugs within the market is predicted to drive the Cough Suppressant Drugs Market growth over the forecast period.
North America cough suppressant market is predicted to point out good growth over the forecast period, due to frequent approvals to novel drugs by the FDA.
In 2015, Vernalis PLC and Tris Pharma Inc. received the U.S. Food and Drug Administration (FDA) approval for the New Drug Application (NDA) for Tuzistra XR (codeine polistirex and chlorpheniramine polistirex) extended-release oral suspension, CIII (DEA Schedule III).
- Key players within the market are involved in strategic mergers and partnerships, to develop, manufacture, and sell novel cough suppressant drugs and to realize major market share.
- For instance, in 2015, Tris Pharma, Inc. entered into a license, supply, and contract with Pfizer Consumer Healthcare (a part of Pfizer Inc.). consistent with the agreement, Pfizer Consumer Healthcare will commercialize Tris’ extended release dextromethorphan cough syrup under the Robitussin Brand. In exchange, Tris will provide the U.S. branded rights to its protected property for an extended release dextromethorphan formulation to Pfizer Consumer Healthcare and Tris will receive an upfront payment, milestone payments, and sales-based royalties.
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Various new players are entering lucrative cough suppressant drugs market by partnering with other manufacturers.
In November 2018, Aytu BioScience, Inc., a specialty drug company, entered into the cough suppressant drugs market with an exclusive license of FDA-approved Tuzistra XR from Tris Pharma Inc. alongside Tuzistra XR, Aytu BioScience, Inc. also features a licensed complementary antitussive product with pending FDA approval.
- Stringent regulations against the utilization of cough suppressant is predicted to affect the worldwide cough suppressant drugs market growth over the forecast period.
- For instance, in February 2018, the Therapeutic Goods Administration reclassified codeine as prescription only medicine in Australia, which was previously available as over-the-counter medication.
- In January 2018, the U.S. Food and Drug Administration made safety labeling changes to limit the utilization of codeine or hydrocodone containing prescription opioid cough and cold medicines in children younger than 18 years old to guard kids from serious risks of opioid ingredients containing cough treatment drugs.
Key players operating within the global Cough Suppressant Drugs Market include Perrigo Company PLC, Vernalis PLC, Tris Pharma Inc., Pfizer Inc., Aytu BioScience, Inc., Acella Pharmaceuticals LLC, Mayne Pharma Inc., Taro Pharmaceutical Industries Ltd., Amneal Pharmaceuticals LLC, Aurobindo Pharma Ltd, and GlaxoSmithKline PLC.