Compressed Lozenges to Witness Fastest Growth in Throat Lozenges Market During Forecast Period
Increasing
prevalence of allergy and common cold along with ongoing research &
development for more effective remedies to drive global throat lozenges market
through 2024
According to TechSci Research
report, “Global
Throat Lozenges Market By Type, By Flavor, By Throat Problem, By Region,
Competition, Forecast & Opportunities, 2024”, global throat lozenges market
is projected to grow at a CAGR
of over 4% during 2019-2024, on the back of increasing prevalence of
allergy and common cold. According to WHO, every year 10-15% of the world’s
population suffer from common cold. Moreover, increasing awareness among people about the cure
of common diseases is playing a significant role in driving growth of throat
lozenges market globally. Additionally, growing geriatric population is further
positively influencing global throat lozenges market. It is difficult for aged
people to cope up with frequent throat infection as their immune system is weak,
which is contributing to the increasing sales of throat lozenges. However,
availability of alternative treatments and therapies somewhat inhibit the
market opportunities for throat lozenges.
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In terms of type,
global throat lozenges market is categorized into hard candy lozenges, soft
lozenges and compressed lozenges. Hard candies accounted for more than 40% of
global throat lozenges market in 2018. On the other hand, compressed lozenges
are expected to witness a steady growth during forecast period owing to their long-lasting
ability and prolonged dissolution time of these candies, which provide long
lasting relief. Healthcare facilities in Asia-Pacific are not as advanced as
they are in North America and Europe and many people in the region suffer dust
allergies. Therefore, demand for throat lozenges is high in Asia-Pacific owing
to which the region is expected to witness the fastest growth during forecast period.
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“Global throat
lozenges market is anticipated to register robust growth over the course of
next five years, on account of increasing pediatric and geriatric population,
changing lifestyle and increasing need for minimizing the healthcare
expenditure. Moreover, the market is predominantly driven by growing prevalence
of influenza or common cold and throat infections. Additionally, people have
developed a liking for throat lozenges due to their soothing effect, while many
even consume these lozenges as mouth fresheners, which is providing impetus to
global throat lozenges market.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Throat
Lozenges Market By Type, By Flavor, By Throat Problem, By Region,
Competition, Forecast & Opportunities, 2024”, has evaluated the future
growth potential of global throat lozenges market and provides statistics and
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in global throat lozenges market.
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