Pholcodine Market trend Competitive Outlook To 2030

According to the Market Statsville Group (MSG), the global pholcodine market size is expected to grow at a CAGR of 3.3% from 2023 to 2033.

The increasing prevalence of cough and respiratory diseases, such as asthma and chronic obstructive pulmonary disease (COPD), drives the demand for pholcodine as a cough suppressant medication. The global population is ageing, leading to an increase in the prevalence of cough and respiratory diseases. The elderly are more susceptible to respiratory infections and are more likely to develop chronic respiratory conditions, driving the demand for pholcodine. Further, the rise in healthcare expenditure globally is driving the demand for medications such as pholcodine. As healthcare spending increases, there is a greater focus on improving the quality of care, which includes providing effective treatments for cough and respiratory diseases. Moreover, the advances in pharmaceutical technology are creating new opportunities for the pholcodine market. New formulations of pholcodine that are more effective and have fewer side effects are being developed, which is expected to increase demand for the medication.

Definition of the Global Pholcodine Market

Pholcodine is a medication that is used to treat dry, irritating coughs. It is a type of opioid that works by blocking the cough reflex in the brain. This helps reduce the intensity and frequency of coughing, making breathing easier and improving the overall quality of life. Pholcodine is generally considered a non-narcotic medication, meaning it has a lower risk of addiction and abuse than other opioids. Depending on the country and regulatory requirements, it is available in over-the-counter and prescription forms. Pholcodine is typically taken orally, either as a tablet or syrup. It is commonly used to treat coughs associated with respiratory infections, such as colds and flu, and chronic respiratory conditions, such as asthma and COPD. While pholcodine is generally considered safe and effective when used as directed, it can have side effects, particularly if taken in high doses or for extended periods. Some common side effects of pholcodine include drowsiness, dizziness, and nausea.

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Global Pholcodine Market Dynamics

Drivers: Increasing Prevalence of Cough and Respiratory Diseases

Respiratory diseases have been a growing health concern in recent years, and the COVID-19 pandemic has only further highlighted the importance of respiratory health. According to the World Health Organization (WHO), respiratory diseases are responsible for approximately 10% of deaths worldwide, with the majority of deaths occurring in low- and middle-income countries. In the United States, respiratory diseases such as chronic obstructive pulmonary disease (COPD) and asthma affect millions of people and are the leading causes of disability and death. According to the Centers for Disease Control and Prevention (CDC), in 2018, approximately 16 million adults in the US had been diagnosed with COPD, and asthma affected around 25 million people. These statistics indicate a significant need for effective treatments for respiratory diseases, including cough suppressants such as pholcodine. Furthermore, governments and health organizations have also recognized the importance of addressing respiratory health. For instance, the WHO has developed a Global Alliance Against Chronic Respiratory Diseases to raise awareness and improve the prevention and treatment of respiratory diseases. The CDC has also implemented programs to promote respiratory health and reduce the prevalence of respiratory diseases.

Restraints: Increasing Concerns over The Potential for Addiction and Abuse of Opioids

One of the major restraining factors impacting the pholcodine market is the increasing concerns over the potential for addiction and abuse of opioids, including pholcodine. According to the US Department of Health and Human Services, more than 10 million people in the US misused prescription opioids in 2019, leading to significant public health and societal consequences. The potential for addiction and abuse of opioids has led to increased regulatory scrutiny and stricter controls on prescription opioids, including pholcodine. In some countries, pholcodine is classified as a controlled substance and is subject to restrictions on its prescription and use. For instance, in the UK, pholcodine is not recommended for use in children under 12 years of age and is only available on prescription. Additionally, the increasing awareness of the potential risks of opioids has led to a shift towards non-opioid and alternative treatments for cough and respiratory diseases. This has led to increased competition for pholcodine from other medications, such as antihistamines and expectorants, which may have fewer side effects and lower risk of addiction.

Scope of the Global Pholcodine Market

The study categorizes the pholcodine market based on product type, age group, dosage form, and distribution channel area at the regional and global levels.

By Product Type Outlook (Sales, USD Million, 2019-2033)

Over-the-counter (OTC)

Prescription Drug

By Age Group Outlook (Sales, USD Million, 2019-2033)

Pediatric

Adults

By Dosage Form Outlook (Sales, USD Million, 2019-2033)

Syrup

Tablet

Others

By Distribution Channel Outlook (Sales, USD Million, 2019-2033)

Hospital

Retail Pharmacy

Online Pharmacy

Others

By Region Outlook (Sales, USD Million, 2019-2033)

North America

US

Canada

Mexico

Europe

Germany

Italy

France

UK

Spain

Poland

Russia

The Netherlands

Norway

Czech Republic

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Indonesia

Malaysia

Thailand

Singapore

Australia & New Zealand

Rest of Asia Pacific

South America

Brazil

Argentina

Colombia

Rest of South America

The Middle East & Africa

Saudi Arabia

UAE

South Africa

Northern Africa

Rest of MEA

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Hospital segment accounts for the largest market share by distribution channel

Based on the distribution channel, the market is divided into hospitals, retail pharmacies, online pharmacies, and others. The hospital segment is expected to dominate the market share in 2022, with hospitals and healthcare facilities major purchasers of pholcodine products. This is due to the fact that cough and respiratory diseases are common reasons for patients to seek medical care, and pholcodine is a widely used medication for the treatment of these conditions. Hospitals often stock pholcodine products in their pharmacies and administer them to patients in both inpatient and outpatient settings. In addition, hospitals may purchase pholcodine products in bulk for use in emergency rooms and intensive care units, where respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD) are commonly treated. Furthermore, hospitals have access to a wide range of resources, including medical professionals and diagnostic tools, that can help to identify and treat respiratory diseases more effectively. This allows hospitals to prescribe and administer pholcodine products to patients in a targeted and personalized manner based on their specific medical needs.

North America is expected to witness the largest market share by Region

Based on the regions, the global pholcodine market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022, due to the high prevalence of respiratory diseases and the strong presence of key market players in the region. According to the Centers for Disease Control and Prevention (CDC), respiratory diseases such as asthma and COPD are major public health concerns in the United States, affecting millions of Americans each year. This high prevalence of respiratory diseases has led to a significant demand for medications such as pholcodine, which is commonly used to treat cough and other respiratory symptoms. In addition, North America has a well-developed healthcare infrastructure, with advanced medical facilities and skilled healthcare professionals. This allows for timely and accurate diagnosis of respiratory diseases and effective treatment with medications such as pholcodine.

Competitvie Landscape: Global Pholcodine Market

The pholcodine market is a significant competitor, and extremely cutthroat in the sector is using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global pholcodine market are:

Yichang Renfu Pharmaceutical Co., Ltd.

Chongqing Oriental Pharmaceutical Co., Ltd.

Nanchang Lijian Pharmaceutical Co., Ltd.

Bright Future Pharmaceutical

Care

AFT Pharmaceuticals

Trumac Healthcare

Foregen Healthcare Limited

Company 9

Company 10

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