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Cough & Cold Medicine Manufacturing OTC in the US Industry Data and Analysis
Over-the-counter (OTC) cough and cold medicines are central to supporting public health and alleviating the strain on the healthcare system, leading this industry to contribute billions annually to the economy. Between 2020 and 2025, OTC cough and cold manufacturers have seen this role expand, contributing to strong revenue growth. However, a mix of pandemic-driven surges, unpredictable seasonal illness patterns, evolving consumer behavior and cost pressures have weakened profit. After an unexpected decline in 2020 because of widespread masking and low virus transmission, the category rebounded in 2021 and 2022, with established players and private-label brands benefitting from elevated health awareness and increased household stock. However, this momentum proved difficult to sustain as demand cooled off because of a mild respiratory season and lingering inventory, resulting in softer sales volumes and weakening profit in 2023 and 2024. Manufacturers can expect stabilizing demand in 2025 but still face operating pressures from external and internal factors. In all, revenue has been rising at a CAGR of 12.7% to an estimated $12.0 billion, including expected growth of 2.1% in 2025.
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What's included in this industry analysis
IBISWorld's research coverage on the Cough & Cold Medicine Manufacturing OTC industry in the United States includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released April 2025.
About this industry
What's this industry report about?
The Cough & Cold Medicine Manufacturing OTC industry in the United States operates under the NAICS industry code OD4117. Cough and cold manufacturers produce over-the-counter (OTC) medications formulated to relieve symptoms associated with coughs, colds, flu, congestion and related respiratory conditions. These products, including cough suppressants, expectorants and nasal decongestants, are available without a prescription. Manufacturers typically handle formulation, regulatory compliance, production, quality assurance, packaging, labeling and distribution to retail and pharmacy outlets. Related terms covered in the Cough & Cold Medicine Manufacturing OTC industry in the United States include capsule, tablet and over-the-counter (otc).
What's included in this industry?
Products and services covered in Cough & Cold Medicine Manufacturing OTC industry in the United States include Tablets and packets , Liquid powders and Nasal products .
What companies are included in this industry?
Companies covered in the Cough & Cold Medicine Manufacturing OTC industry in the United States include Johnson & Johnson and Medique Products.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Cough & Cold Medicine Manufacturing OTC industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Cough & Cold Medicine Manufacturing OTC industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Cough & Cold Medicine Manufacturing OTC industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Cough & Cold Medicine Manufacturing OTC industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Cough & Cold Medicine Manufacturing OTC industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Cough & Cold Medicine Manufacturing OTC industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Cough & Cold Medicine Manufacturing OTC industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Cough & Cold Medicine Manufacturing OTC industry in the United States.
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Frequently Asked Questions
What is the market size of the Cough & Cold Medicine Manufacturing OTC industry in the United States in 2026?
The market size of the Cough & Cold Medicine Manufacturing OTC industry in the United States is $12.0bn in 2026.
How many businesses are there in the Cough & Cold Medicine Manufacturing OTC industry in the United States in 2025?
There are 124 businesses in the Cough & Cold Medicine Manufacturing OTC industry in the United States, which has grown at a CAGR of 8.1 % between 2020 and 2025.
How may import tariffs affect the Cough & Cold Medicine Manufacturing OTC industry in the United States?
The Cough & Cold Medicine Manufacturing OTC industry in the United States is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Cough & Cold Medicine Manufacturing OTC industry in the United States?
The Cough & Cold Medicine Manufacturing OTC industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Cough & Cold Medicine Manufacturing OTC industry in the United States grown or declined over the past 5 years?
The market size of the Cough & Cold Medicine Manufacturing OTC industry in the United States has been growing at a CAGR of 2.7 % between 2020 and 2025.
What is the forecast growth of the Cough & Cold Medicine Manufacturing OTC industry in the United States over the next 5 years?
Over the next five years, the Cough & Cold Medicine Manufacturing OTC industry in the United States is expected to grow.
What are the biggest companies in the Cough & Cold Medicine Manufacturing OTC industry in the United States?
The biggest companies operating in the Cough & Cold Medicine Manufacturing OTC industry in the United States are Johnson & Johnson and Medique Products
What does the Cough & Cold Medicine Manufacturing OTC industry in the 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 industry in the United States.
Which companies have the highest market share in the Cough & Cold Medicine Manufacturing OTC industry in the United States?
The company holding the most market share in the Cough & Cold Medicine Manufacturing OTC industry in the United States is Johnson & Johnson.
How competitive is the Cough & Cold Medicine Manufacturing OTC industry in the United States?
The level of competition is moderate and increasing in the Cough & Cold Medicine Manufacturing OTC industry in the United States.
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