Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Dextromethorphan Market size was valued at USD 413.78 million in 2024 and is set to exceed USD 724.23 million by 2037, registering over 4.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of dextromethorphan is estimated at USD 443.42 million.
The major factor attributed to market growth is the rising cases of severe cough, and other respiratory problems owing to allergies, pollution, and several other factors. A recently published report of 2022, stated that cough was among the most common medical complaints that were registered across the globe and accounted for almost 30 million clinical visits per year.
In addition to the aforementioned factors, the rising demand for effective antibiotics to treat upper respiratory tract infection (UTRI) is expected to increase the production rate of dextromethorphan during the analysis period. Moreover, the escalation in other conditions such as asthma and lung diseases is also projected to rise in the utilization of dextromethorphan. Also, other factors that are projected to propel the global population to adopt dextromethorphan is the high prevalence of contagious diseases such as COVID-19, influenza, diphtheria, and others coupled with other respiratory problems in the world. Furthermore, the increased research and development activities along with the increased focus on the development of novel drugs for treating cough problems, and high healthcare expenditure are also expected to create a positive outlook for the expansion of market size in the next few years. The burgeoning geriatric population and people with low immune systems owing to unhealthy lifestyles are also forecasted to bring in lucrative growth opportunities for market growth during the assessment period.
Dextromethorphan Sector: Growth Drivers and Challenges
Growth Drivers
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Growing Prevalence of Asthma Across the Globe – Asthma is a medical condition in which the air passages narrow or swell and also may produce extra mucus. As a result, individuals suffering from asthma suffer from severe cough at intervals which generates the need for effective medicine such as dextromethorphan to suppress the coughing. Hence, the higher the prevalence of asthma, the higher the utilization rate of dextromethorphan among the global population. As per the statistics released by the World Health Organization (WHO), asthma affected almost 262 million people worldwide in 2019 and caused approximately 455,000 deaths in the same period.
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Rising Cases of Various Respiratory Diseases – A recent estimate suggested that chronic Obstructive Pulmonary Disease (COPD) or chronic bronchitis caused more than 3 million deaths globally in 2019.
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High Level of Air Pollution Across Every Nation of the World – Increasing air pollution level around the world has increased respiratory problems across the world. As a result, the demand for dextromethorphan is expected to increase in the upcoming years. The data released by the Our World in Data calculated that air pollution is responsible for almost 11.65% of the total deaths that occur around the world every year.
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Escalation in Spending on Medicines – As a result of growing economies, the spending capacity of individuals has also increased which has propelled them to spend more on medicines, health, and fitness. Thus, with the growing disposable income, healthcare expenditure increases which is considered to bring favorable opportunities for market expansion for significant revenue generation. The World Bank calculated the global healthcare expenditure to increase from 9.7% of total GDP in 2018 to 9.83% of total GDP in 2019.
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Various Initiatives by Key Players to Develop Novel Cough Suppressants – Owing to the increase in cough cases and other respiratory problems among the population the world, key players operating in the market are investing heavily in research and development activities to aid the manufacturing of novel and advanced medicines such as dextromethorphan to cure cough. According to the World Bank, global expenditure on research and development was calculated to be 2.63% of GDP in 2020 up from 2.2% in 2018.
Challenges
- High Costs Associated with Dextromethorphan – Although dextromethorphan has many benefits in suppressing cough and treating other respiratory problems, the cost of the drug is high. As a result of the high cost associated, it is expected to lower the adoption rate of dextromethorphan among the low and middle-income population and subsequently hamper market growth during the forecast period.
- Rising Concern for Risks Among the Patients
- Constant Change in Regulations and Approvals from FDI
Dextromethorphan Market: Key Insights
| Report Attribute | Details |
|---|---|
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
4.4% |
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Base Year Market Size (2024) |
USD 413.78 million |
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Forecast Year Market Size (2037) |
USD 724.23 million |
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Regional Scope |
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Dextromethorphan Segmentation
End-user (Hospitals, Retail Pharmacies, Online Pharmacies, Convenient Stores)
The global dextromethorphan market is segmented and analyzed for demand and supply by end-user into hospitals, retail pharmacies, online pharmacies, convenience stores, and others. Out of these, the hospital segment is attributed to holding a significant share by the end of 2037 owing to the presence of a high number of hospitals and the existence of a strong base for hospitals around the world. The number of hospitals present in the world is increasing as per the data released by the Organization for Economic Co-Operation and Development (OECD). For instance, the count of hospitals in the United Kingdom increased from 1,882 in 2015 to 1921 in 2020, whereas, in the United States it rose from 5,564 in 2015 to 6,090 in 2019. Individuals diagnosed with cough, asthma, chronic bronchitis, and others visit hospitals owing to the trust factor associated with it and the availability of specialized doctors in hospital settings are other factors that are anticipated to impetus a high revenue generation for segment growth. Also, favorable reimbursement policies available in hospitals and easy accessibility of pharmacy make hospitals a preferred option. On the other hand, the online pharmacies segment is also projected to hold a noteworthy share during the analysis period. The convenience and ease provided by online pharmacies and the handiness of great discounts to lure customers are considered to be the major factors for segment growth.
Application (Cough, Acute, Chronic Bronchitis, Bronchial Asthma, Sore Throat, Tuberculosis)
The global dextromethorphan market is also segmented and analyzed for demand and supply by application into a cough, acute and chronic bronchitis, bronchial asthma, sore throat, tuberculosis, and others. Out of these, the cough segment is anticipated to garner a notable share with a remarkable CAGR. In the recent period, the rapid escalation of cough cases is increasing among the global population owing to the low immune system, adoption of unhealthy lifestyles, and consumption of junk food items. Also, rising air pollution and increasing level of pollutants suspended in the environment is estimated to propel the rate of cough among individuals.
Our in-depth analysis of the global market includes the following segments:
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By Dosage Type |
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By Product Type |
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By Age Group |
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By Application |
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By End-User |
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Dextromethorphan Industry - Regional Synopsis
North American Market Forecast
North America industry is likely to dominate majority revenue share by 2037.The growth of the market can be attributed majorly to the increasing cases of bronchitis and bronchial asthma in the region. According to the data from the Centers for Disease Control and Prevention (CDC), 46.3 individuals out of every 100,000 population die due to chronic lower respiratory diseases in the U.S. Furthermore, as per a research paper by the National Library of Medicine, it is estimated that 5% of the population of North America reports an episode of acute bronchitis every year, accounting for more than 10 million hospital visits. Further, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies are also anticipated to contribute to market growth in the region. In addition, the region's expanding healthcare industry and rising healthcare expenditure are also anticipated to expand the size of the market during the forecast period.
APAC Market Statistics
On the other hand, the market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing cases of asthma, bronchitis, and cough along with the rising geriatric population in the region. Also, the high level of pollution and recent urbanization are other factors that are anticipated to fuel revenue generation of the market in the region in the upcoming years.
Companies Dominating the Dextromethorphan Landscape
- AstraZeneca PLC
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- FibroGen, Inc.
- Novartis AG
- Abbott Laboratories
- GlaxoSmithKline plc
- F. Hoffmann-La Roche Ltd.
- Merck & Co., Inc.
- Sunovion Pharmaceuticals Inc.
- Aurobindo Pharma Limited
- Zydus Pharmaceuticals Inc.
Recent Developments
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Astellas Pharma Inc. and Iota Biosciences, Inc. announced a merger agreement, following which, Astellas will acquire Iota’s unique bioelectronics technology.
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AstraZeneca and BenevolentAI entered into a long-term collaboration to use artificial intelligence (AI) and machine learning for the discovery and development of new treatments for chronic kidney disease (CKD) and idiopathic pulmonary fibrosis (IPF).
- Report ID: 4078
- Published Date: Dec 20, 2024
- Report Format: PDF, PPT
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