The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreOct 2016
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While growing interest in immune system fortification and good health practices reduce the overall prevalence of illness, climate change and pollution endanger respiratory health. These natural and man-made forces foment unpredictability in the respiratory remedies market, yet it continues to experience dynamic growth and innovation around the world.
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The US$33.5 billion cough, cold and allergy remedies industry is expected to grow at 2% annually through 2021, generating an additional US$3.4 billion in retail value by that year. North America and Asia Pacific are key regions, as they will account for over half of that increase. The larger markets of the US, China and Brazil are critical contributors, while Pakistan and South Africa will be countries to watch for high percentage growth.
Major corporate activity, including Bayer’s 2014 acquisition of Merck & Co’s consumer care division and GlaxoSmithKline and Novartis’s 2015 consumer health joint venture, are redefining what it means to be a global leader in respiratory remedies. Sanofi’s anticipated acquisition of Boehringer Ingelheim’s consumer health segment (excluding China) will continue to consolidate the competitive landscape.
Air pollution in urban areas and global climate change resulting in prolonged pollen seasons are exacerbating respiratory illness. The former factor in particular is highly correlated with retail value growth in cough, cold and allergy remedies, and is only expected to deteriorate further. Children growing up in this atmosphere are more prone to developing allergies and constitute a broadening consumer base for the allergy care category.
Product development, particularly as a result of Rx-to-OTC switches, expanded access to standard formulations in developing countries, as well as creative advertising in the digital age are increasingly impactful and predicted to be primary growth drivers over the forecast period.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.