- Soft Lozenges
- Hard Candy Lozenges
- Compressed Lozenges
Lozenges Market size was valued at USD 5,841.6 million in 2022 and is expected to grow at a 4.9% CAGR from 2023 to 2029. Lozenges is an small, medicated tablet intended to dissolve slowly in the mouth. It helps in reducing cough by soothing the throat. Lozenges contains eucalyptus oil or benzocaine which gives an anaesthetic effect helps in reducing throat pains. The geriatric populations are more prone to infections causing cough and colds, thus increasing number of geriatric patients, increasing cold and cough disease incidence due to seasonal change are expected to drive the growth of lozenges market at an significant rate over the forecast years. In addition, the HIV patients are at high risk of throat infections, thus increase in HIV patients is expected to boost the market growth. furthermore, availability of large range of products, high usage of lozenges for sore throat, growing prevalence of respiratory disease is expected to further fuel the market growth of lozenges market over the forecast years.Whereas various factors like the lozenges are meant only for short-term relief and should be taken more frequently, and regulations regarding the lozenge’s efficiency, and availability of alternate OTC drugs for throat infections are expected to hinder the growth of lozenges market over the forecast years. However, the innovation of new products and increase of focus of key market players in manufacturing cost efficient lozenges are expected to provide a wider opportunity to the key market companies in the growth of lozenges market over the forecast years.
Lozenges Market Key Developments:
In July 2020, Dr Reddy’s launched OTC nicotine polacrilex lozenges in US market
In May 2021, JB Chemicals launched medicated nicotine lozenges to help quit smoking.
Fastest Growing Market
Lozenges market is expected to grow over the forecast period due to the increasing prevalence of infectious disease-causing cough and colds, seasonal changes, and increase in geriatric population. In addition, HIV patients are highly prone to throat infections, and children and geriatric populations are more prone to infectious disease due to their less immunity to fight against infectious disease are expected to boost the market growth. furthermore, several number of market players are focused in increasingly adopting business strategies such as the product launches, and long-term alliances, mergers and acquisitions to improve market revenue share over the forecast period.
Lozenges market was valued at USD 5,841.6 million in 2022, and is expected to grow at a 4.9% CAGR from 2023 to 2029
The Lozenges market is segmented based on product type, application, ingredient, distribution channel, and geography
The leading players in the global Lozenges market are Bliss GVS Pharma Ltd., Honibe, Procter & Gamble, Ricola AG, Sanofi SA, GlaxoSmithKline Pl, Reckitt Benckiser Group Plc, Traditional Medicinals Inc., Thorton & Ross Ltd., Pfizer.
North America is expected to have largest market share in lozenges market over the forecast period.