Dextromethorphan Market : Current Analysis and Forecast (2023-2030)
Emphasis on Product Type (Capsules, Tablets, Syrups, and Others); Age Group (Adults and Pediatrics); Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, and Others); and Region/Country
The Dextromethorphan market was valued at USD 105 Mn in 2022 and is expected to grow at a strong CAGR of around 3% during the forecast period (2023-2030). Dextromethorphan (DXM) is a cough suppressant and dissociative drug that is commonly found in over-the-counter (OTC) cold and cough medicines. The increasing prevalence of colds and coughs in the population, along with the increased approval of dextromethorphan in the treatment of depressive disorders are the major reasons for the market growth of dextromethorphan. For instance, in August 2022, Auvelity (dextromethorphan and bupropion) got FDA approval, which is an NMDA receptor antagonist used to treat major depressive disorder (MDD) in adults.
Some of the major players operating in the market are Aurobindo Pharma; Mylan N.V.; Sandoz International GmbH; Sun Pharmaceutical Industries Ltd.; Teva Pharmaceutical Industries Ltd.; Zydus Group; Cipla Inc; Amneal Pharmaceuticals LLC; Pfizer Inc.; and Intas Pharmaceuticals Ltd. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product type, the semi-synthetic segment is expected to grow at a higher CAGR during the forecast period.”
Based on product type, the market is segmented into capsules, tablets, syrups, and others. As per our analysis, the syrups segment is expected to grow at a higher CAGR during the forecast period. Syrups containing dextromethorphan are popular formulations for treating cough symptoms, particularly in liquid form. They are often chosen for their ease of administration, especially for children and individuals who have difficulty swallowing pills or capsules. These are the several factors that are responsible for the growth of the segment in the dextromethorphan market.
“Amongst age groups, the adults segment held the dominant share in 2022.”
Based on the age group, the market is segmented into adults and pediatrics. As per our analysis, the adult segment held the dominant share in 2022. The increasing cases of respiratory disorders associated with chronic diseases in adults are attributed to the growth of the segment. For instance, as per the CDC, in 2021, 9.4 million adults had Tuberculosis 2021 among them 6 million men and 3.4 million women had TB.
“Amongst route of administration, the oral segment is expected to grow at a higher CAGR during the forecast period.”
Based on the distribution channel, the market is segmented into hospital pharmacy, retail pharmacy, online pharmacy, and others. As per our analysis, the online pharmacy segment is expected to grow at a higher CAGR during the forecast period. The increasing internet penetration, along with the increasing number of online pharmacies and attractive offers on medicines are the major reasons for the high adoption of online pharmacies in the dextromethorphan market.
“Asia Pacific is expected to grow with the highest CAGR dextromethorphan market during the forecast period.”
Asia Pacific is expected to grow with the highest CAGR dextromethorphan market during the forecast period. The rapidly rising population, along with the increasing prevalence of chronic diseases in the region is attributed to the market growth of Dextromethorphan in Asia-Pacific. For instance, 46.6% of Australians of all ages had one or more chronic conditions, and nearly one in five had two or more conditions.
Dextromethorphan Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global dextromethorphan market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Dextromethorphan Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global dextromethorphan market were the three major steps undertaken to create and analyze the adoption of dextromethorphan in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of global dextromethorphan market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the dextromethorphan market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Dextromethorphan market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, age group, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the dextromethorphan market. Further, we conducted factor analysis using dependent and independent variables such as product type, age group, and distribution channel of the dextromethorphan market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the dextromethorphan market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global dextromethorphan market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the dextromethorphan market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global dextromethorphan market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global dextromethorphan market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product type, age group, and distribution channel in the global dextromethorphan market.
The main objective of the Global Dextromethorphan Market Study
The current & future market trends of the global dextromethorphan market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Dextromethorphan market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, age group, and distribution channel.
- Define and analysis of the regulatory framework for the dextromethorphan industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the dextromethorphan market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the dextromethorphan market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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