Cold Relief Roll On Market Set for Remarkable Growth: Expected Valuation of US$ 1,156.5 Million by 2033, CAGR at 8.3% | Future Market Insights, Inc.
Increasing Cough and Cold Cases across the Globe Boosts Sales of Cold Relief Roll On. FMI Analysts Predict a Market CAGR of 8.3% from 2023 to 2033. The demand of cold relief roll on in the United States is projected to thrive at a 7.6% CAGR through 2033
NEWARK, Del, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The cold relief roll on market size is poised to cross US$ 520.9 million in 2023 and is likely to attain a valuation of US$ 1,156.5 million by 2033. The cold relief roll on market share is projected to develop at a CAGR of 8.3% from 2023 to 2033.
Cold relief roll-ons, a pharmaceutical staple, have several applications in treating various illnesses such as cold/cough, nasal allergies, and congestion. Their presence in the pharmaceutical scene is notable since they are positioned as a cost-effective and simply manufactured alternative to other drugs. Strategic collaborations with small and medium-sized manufacturers have strengthened the supply chain, allowing for the development of low-cost, high-quality medications, particularly in emerging nations such as India.
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The competitive land costs, cost-effective labor, affordable machinery, and cheap utility bills highlight India's proficiency in manufacturing cold relief roll-ons. The labor cost disparity, with emerging nations spending around 60% less than developed equivalents, appears as a critical determinant. This cost advantage makes India a prominent participant in the worldwide market, ensuring the cold relief roll-on sector's continued development during the projection period. Furthermore, manufacturers are constantly seeking mergers and alliances with a strategic focus on producing pharmaceuticals with fewer side effects and higher efficacy. This proactive strategy aligns with the industry's goal of developing pharmaceutical solutions that effectively manage health challenges and improve overall quality of life.
Key Takeaways from the Cold Relief Roll On Market Report:
By application, the nasal congestion segment is expected to hold over 36.5% market value share by the end of 2023 and is projected to display a CAGR of 7.8% over the forecast period due to the rise in cases of nasal congestion worldwide.
By distribution channel, retail pharmacies hold the top segment share in terms of market value, with a share of 31.1% in 2023. Retail pharmacies lead this segment because of their wider availability and higher convenience.
North America is likely to emerge as the leading region with a value share of 38.7% at the end of 2023, owing to the increasing incidences of nasal allergies in different age groups.
“The cold relief roll-on market is witnessing strategic innovation as manufacturers target specific demographics. With a keen focus on expanding market share, companies are introducing specialized products like baby cold relief roll-ons. This trend addresses diverse consumer needs and reflects a dynamic industry adapting to evolving health preferences,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Scope of Report:
Attribute | Details |
Historical Data Available for | 2018 to 2022 |
Forecast Period | 2023 to 2033 |
Market Analysis | US$ million for Value |
Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa |
Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, United Kingdom, Germany, Italy, France, Spain, Russia, BENELUX, China, Japan, South Korea, India, Indonesia, Malaysia, Thailand, Australia, New Zealand, GCC countries, Turkey, South Africa and North Africa. |
Key Market Segments Covered | Application, Distribution Channel and Region |
Key Companies Profiled |
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Pricing | Available upon Request |
Competitive Landscape:
The cold relief roll on market is fairly competitive, and collaboration and expansion among the companies or brands are the key strategies of the leading manufacturers of the market, such as Cipla and Viatris Inc., among others, to enhance their presence in the market and compete with other competitors during the coming years.
Recent Developments Observed by FMI:
In January 2022, Lupin signed its first partnership agreement in China with Shenzhen Foncoo Pharmaceutical Co. to expand its product offerings in China.
Viatris Inc. has extended the merger of Mylan N.V. with Pfizer's Upjohn division as of November 16, 2020. With the growth of its manufacturing and distribution capacities, Viatris will increase its medical and international commercial skills to supply high-quality medications in more than 165 countries and territories.
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Cold Relief Roll On Market Segmentation:
By Application:
Cold/Cough
Nasal Allergies
Nasal Congestion
Others
By Distribution Channel:
Retail Pharmacies
Hospital Pharmacies
E-Commerce
Hypermarket/Supermarket
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa (MEA)
Authored By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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