Dextromethorphan Market Size, Share & Trend Analysis By Product Type, By Age Group, By Application, By Sales Channel, Regional Stance, Competitive Tactics, and Segment Forecast to 2030
Healthcare & Life Sciences
Reports and Insights
Dextromethorphan Market at a Glance:
As per Reports and Insights Analysis, the dextromethorphan market is expected to grow at a CAGR of 4.1% during the forecast period of 2022 to 2030. This market research report on the global market for dextromethorphan constructed by the Reports and Insights team intends to address market aspects such as key drivers, challenges, and opportunities for industry participants. Furthermore, it will encompass a regional outlook, market segmentation outlook, and market trends for dextromethorphan, Market size and share, industry, and product insights, SWOT analysis, Porter's five forces analysis, PESTEL analysis, heat map analysis, market prediction, and information on the key players active in the market of dextromethorphan.
Dextromethorphan is an over-the-counter drug that was first patented in 1954 and was approved by the FDA in 1958. An over-the-counter drug is a drug that is available at any pharmacy without a doctor’s prescription. The primary function of dextromethorphan is to relieve the cough reflexes by decreasing activity in the neurological part of the brain that irritates. It provides temporary relief from coughing and is not a cure for any kind of cold, cough, or common flu. Dextromethorphan, however, does not relieve mucus caused by asthma or smoking. Dextromethorphan is sold separately as well as along with other drugs such as suppressants or decongestants. Latest research has also found dextromethorphan useful in treating severe neurological issues such as depression, strokes, seizures, etc.
Scope of Report:
Market size available for the years
By Product Type, By Age Group, By Application, By Sales Channel, By Geography
The Middle East
Sanofi, AstraZeneca, ACETO, Aurobindo Pharma, Sandoz, Mylan, Sun Pharmaceuticals, Teva, Zydus Pharmaceuticals, Unique Pharmaceuticals, Ipca Laboratories, Intas Pharmaceuticals, and among others
“Rise in cases of cold, cough, and common flu after the pandemic”
The coronavirus pandemic has changed the approach of people toward healthcare. Before the pandemic, common household remedies were used to treat colds and coughs. However, since covid-19 hit the planet, people are increasingly more cautious about the treatment they wish to receive. People visit the physician even in insignificant cases of common cough. Doctors prescribe dextromethorphan as a routine medicine to provide relief. Additionally, since 2010, when the FDA approved dextromethorphan to be clubbed with other suppressants, the demand for dextromethorphan has been on the rise.
“Higher investment distribution channels”
Since the pandemic, governments and private pharmaceutical companies are increasingly investing in distribution channels and supply chains to ensure healthcare to the last mile. The importance of last-mile healthcare was realized by developing and under-developing countries through the pandemic. During this trying time, the healthcare sector saw massive investments from the public as well as private sources which have brought drastic changes to the distribution infrastructure. With these improved channels, the production and supply of dextromethorphan will benefit.
“Developments in uses of dextromethorphan”
Dextromethorphan has been approved to be used together with suppressants and decongestants by the FDA in 2010. Since then, dextromethorphan has is being used increasingly in all cold and cough medicines. Moreover, research and development have been going on in using dextromethorphan to treat psychological and neurological diseases such as depression, strokes, triggers, etc. This is possible because dextromethorphan reduces activity in certain parts of the brain. This could give a major boost to the dextromethorphan market.
“Provides temporary relief”
Dextromethorphan provides temporary relief to the patient by relaxing a certain part of the brain that causes cough reflexes. This temporary relief might lead the user to believe that he/she has recovered from the aforementioned cough and could encourage him/her to avoid taking any other preventive measures. This could prove unsafe and perilous. Moreover, dextromethorphan does not treat all types of cough. Mucus caused by smoking, asthma, or emphysema has no effect through dextromethorphan.
“High dosage can be fatal”
Dextromethorphan, if taken on an extremely high dose, can even turn out to be fatal. Cases of drug overdose are not uncommon in developing and under-developed countries where knowledge of the average dose is not widespread. Moreover, such a drug can be misused as well.
“Investment in R&D”
Promising uses of the drug such as treating psychological diseases and ailments could provide a major boost to the dextromethorphan market. After the coronavirus pandemic, there is increased awareness about mental health and cases of depression and anxiety are on the rise. Additionally, people nowadays are careful not just about their physical health, but also about their mental health. If proven helpful, dextromethorphan could revolutionize the mental health awareness campaign.
Dextromethorphan Market Segmentation Stance:
The dextromethorphan market is segmented based on the following criteria:
By Product Type:
- Dissolvable Strips
By Age Group:
- Acute or Chronic Bronchitis
- Sore Throat
- Tuberculosis (TB)
By Sales Channel:
- Hospital Pharmacy
- Retail Pharmacy
- Asia Pacific
- Latin America
- Middle East & Africa
- North America
Dextromethorphan Market Regional Stance:
North America is the leader as far as the dextromethorphan market is concerned. This is due to several factors such as the well-established social security scheme which includes healthcare for each individual, well-developed healthcare infrastructure, and huge pharmaceutical corporations.
Asia Pacific, on the other hand, is catching up and giving tough competition to North America due to factors such as high population figures, increased investment in healthcare infrastructure, and government initiatives to boost immunity and thus citizen well-being. Moreover, healthcare initiatives by countries in developing countries such as India like the Ayushman Bharat Yojana are driving this augmented demand in the dextromethorphan market..