- 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.
Lozenges Market Summary
Study Period
2023– 2029
Base Year
2022
CAGR
4.9%
Largest Market
Asia Pacific
Fastest Growing Market
North America
Lozenges Market Dynamics
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.
Asia-Pacific Got Significant Share
Lozenges Market Regional Analysis
Lozenges market is segmented based on regions into North America, Asia-pacific, Europe, Latin America and Middle East and Africa. North America lozenges market is likely to hold a significant revenue share, and in the forecast years, it is predicted to increase rapidly due to the presence of numerous manufacturers in this region. In addition, increasing awareness programs regarding infectious diseases in this region is expected to boost the growth of lozenges market in this region. Asia Pacific region is expected to have a significant growth over the forecast period owing to rising paediatric and geriatric population in this region and increasing risk of infectious diseases in this region.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Lozenges Market Segmentation
By product type
By Application
- Sore Throat
- Cold & Cough
- Throat Disease
- Nicotine Replacement
- Others
By Ingredients
- Mint, Menthol
- Peppermint Oil
- Eucalyptus oil
- Honey & Ginger
- Lemon
- Others
By Distribution channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
By Geography
- North America
- Europe
- The Asia Pacific
- Latin America
- MEA
LOCATION
Geography
Frequently Asked Questions
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.
- Bliss GVS Pharma Ltd.
- Honibe
- Procter & Gamble
- Ricola AG
- Sanofi SA
- GlaxoSmithKline Plc
- Reckitt Benckiser Group Plc
- Traditional Medicinals Inc.
- Thorton & Ross Ltd.
- Pfizer
- DR Reddy’s
- JB Chemicals