Cough & Cold Medicine Manufacturing OTC in the US - Market Research Report (2013-2028)
New York, United States
Last Updated: September 2023
NAICS OD4117Revenue
$12.0bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
11,356
Businesses
101
Wages
$X.Xbn
Cough & Cold Medicine Manufacturing OTC in the US industry analysis
Companies in the Cough and Cold Medicine Manufacturing OTC industry have benefited from increasing consumers purchasing over-the-counter (OTC) medications to address ailments with at-home treatments. The COVID-19 pandemic has been the most prominent proponent for industry demand. In 2020 industry revenue increased as consumers stockpiled industry products to address symptoms and potential infection with the fear of a new COVID-19 variant. Overall, industry-wide revenue has been growing at a CAGR of 5.6% over the past five years and is expected to total $12.0 billion in 2023, when payment will jump by an estimated 8.6%. Similarly, unprecedented demand will precipitate and keep profit elevated.Demand spike was experienced amid the H1N1, or swine flu, epidemic in 2009 and 2010, resulting in industry revenue rising 59.2% and 11.7%. The pandemic benefits industry production in terms of applicability and affordability. Like the swine flu epidemic, COVID-19 is an upper respiratory system infection, causing symptoms identical to the general flu. Since coughing, congestion and fever are all addressed with cough and cold medicines, industry manufacturers remain the primary option for individuals experiencing these ailments. Further, the economic slowdown due to stagnated business activity will constrain national household income levels. Thus, OTC medications, such as those manufactured by this industry, will benefit a more significant portion of price-sensitive consumers because prescription pharmaceuticals require consultation and are more expensive. This demand spike will precipitate similar increases in other industry areas, like enterprises and employment.Moving forward, industry revenue is forecast to grow at a CAGR of 1.6% over the five years through 2028 to total $13.0 billion. Like the swine flu epidemic, industry demand will moderate back to pre-pandemic levels. Demand from online sales will continue increasing as it becomes more affordable with ease of access.
Trends and Insights
- Rising reliance on OTC remedies sparks growth in the pharmaceutical industry. Shifts due to the global pandemic, reduced income and consumer health trends have notably boosted demand for cost-effective over-the-counter medicines.
- Over-the-counter (OTC) medicines are most adults' first line of defense against minor health issues. This reliance significantly impacts the industry, as many turn to drugs like capsules, tablets, cough syrups and nasal products before seeking medical attention.
- The Southeast is a pharmaceutical haven due to its ideal climate and robust logistical capabilities. Its environment supports the growth of medicinal plants; efficient transportation networks streamline distribution, and business-friendly policies attract manufacturing firms.
- Brand awareness and innovation are key in the cough and cold medicine industry. The competition among OTC medicine manufacturers pivots significantly around brand reputation and product portfolio.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 5.6 % over the past five years, to reach an estimated $12.0bn in 2023.
Trends and Insights
Shift to OTC medications boosts industry revenue
- Increasing numbers of individuals choose over-the-counter (OTC) medicines over prescription drugs.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Growing market: demand for OTC cough and cold medication rises
- Increased accessibility and affordability of industry products are expected to boost demand for OTC cough and cold medicines.
Biggest companies in the Cough & Cold Medicine Manufacturing OTC in the US
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Pfizer Inc. | 1,146.1 | 380.4 | 33.2 | |
Johnson & Johnson | 482.5 | 120.6 | 25.0 | |
Reckitt Benckiser Group Plc | 436.6 | 37.2 | 8.5 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Tablets and packets , Liquid powders and Nasal products . Tablets and packets is the largest segment of the Cough & Cold Medicine Manufacturing OTC in the US.
Trends and Insights
Tablets and packets lead the industry
- Tablets are medications in pressed powder, while capsules contain gel or powdered drugs encased in dissolvable shells.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Vitamin & Supplement Manufacturing in the US
Complementors
- Brand Name Pharmaceutical Manufacturing in the US
- Generic Pharmaceutical Manufacturing in the US
- Pharmacies & Drug Stores in the US
International industries
- Global Pharmaceuticals & Medicine Manufacturing
- Pharmaceutical Product Manufacturing in Australia
- Veterinary Pharmaceutical and Medicinal Product Manufacturing in New Zealand
- Basic Pharmaceutical Product Manufacturing in the UK
- Herstellung von pharmazeutischen Grundstoffen
Table of Contents
About this industry
Industry definition
This industry manufactures over-the-counter (OTC) cough and cold treatments and suppressants. Products include systemic remedies, such as antihistamines and combination products, decongestants and medicated candies. The industry does not include companies that are primarily retailers, such as pharmacies or department stores.
What's included in this industry?
Conducting market research for OTC cough and cold medicationDeveloping OTC cough and cold medicationTesting OTC cough and cold medicationGetting Food and Drug Administration approval to sell OTC cough and cold medicationManufacturing OTC cough and cold medicationMarketing OTC cough and cold medicationCompanies
Pfizer Inc.Johnson & JohnsonReckitt Benckiser Group PlcPurchase this report to view all 4 major companies in this industry.
Related Terms
CAPSULETABLETOVER-THE-COUNTER (OTC) MEDICATIONIndustry Code
NAICS 32541 - Cough & Cold Medicine Manufacturing OTC in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Rising reliance on OTC remedies sparks growth in the pharmaceutical industry. Shifts due to the global pandemic, reduced income and consumer health trends have notably booste...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Over-the-counter (OTC) medicines are most adults' first line of defense against minor health issues. This reliance significantly impacts the industry, as many turn to drugs l...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Southeast is a pharmaceutical haven due to its ideal climate and robust logistical capabilities. Its environment supports the growth of medicinal plants; efficient transp...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each state in 2023
- Number and share of revenue each state accounts for in 2023
- Number and share of wages each state accounts for in 2023
- Number and share of employees in each state in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Brand awareness and innovation are key in the cough and cold medicine industry. The competition among OTC medicine manufacturers pivots significantly around brand reputation ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Pfizer completes acquisition of Arena Pharmaceuticals. Arena Pharmaceuticals is a clinical-stage company developing therapies to treat several immune-inflammatory diseases.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Pfizer Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Johnson & Johnson's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Reckitt Benckiser Group Plc's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Pfizer Inc., and factors influencing its performance in the industry
- Description and key data for Johnson & Johnson, and factors influencing its performance in the industry
- Description and key data for Reckitt Benckiser Group Plc, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
FDA ensures drug safety with rigorous approval processes. Over-the-counter medicines must receive a nod from FDA's Center for Drug Evaluation and Research, either through the...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Demand for over-the-counter (OTC) medication increases during the pandemic, boosting profit. Well-established brands have noted higher profits as their scale allows for more ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Industry Multiples (2016-2021)
- Industry Tax Structure (2016-2021)
- Income Statement (2016-2021)
- Balance Sheet (2016-2021)
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Cough & Cold Medicine Manufacturing OTC in the US industry in United States in 2024?
The market size of the Cough & Cold Medicine Manufacturing OTC in the US industry in United States is $12.0bn in 2024.
How many businesses are there in the Cough & Cold Medicine Manufacturing OTC in the US industry in 2023?
There are 101 businesses in the Cough & Cold Medicine Manufacturing OTC in the US industry in United States, which has grown at a CAGR of 3.5 % between 2018 and 2023.
Has the Cough & Cold Medicine Manufacturing OTC in the US industry in United States grown or declined over the past 5 years?
The market size of the Cough & Cold Medicine Manufacturing OTC in the US industry in United States has been growing at a CAGR of 5.6 % between 2018 and 2023.
What is the forecast growth of the Cough & Cold Medicine Manufacturing OTC in the US industry in United States over the next 5 years?
Over the next five years, the Cough & Cold Medicine Manufacturing OTC in the US industry in United States is expected to grow.
What are the biggest companies in the Cough & Cold Medicine Manufacturing OTC in the US market in United States?
The biggest companies operating in the Cough & Cold Medicine Manufacturing OTC market in United States are Pfizer Inc., Johnson & Johnson and Reckitt Benckiser Group Plc
What does the Cough & Cold Medicine Manufacturing OTC in the US in United States include?
Conducting market research for OTC cough and cold medication and Developing OTC cough and cold medication are part of the Cough & Cold Medicine Manufacturing OTC in the US industry.
Which companies have the highest market share in the Cough & Cold Medicine Manufacturing OTC in the US in United States?
The company holding the most market share in United States is Pfizer Inc..
How competitive is the Cough & Cold Medicine Manufacturing OTC in the US industry in United States?
The level of competition is moderate and increasing in the Cough & Cold Medicine Manufacturing OTC in the US industry in United States.
