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 the 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, the 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, the 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 steady growth during the 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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