According to the study, the global balm and vapor rub market is projected to grow at a CAGR of 9.94% over the forecast period of 2019-2025. Among the region, the Asia Pacific balm and vapor rub market generated the highest revenue in the world.
Shubham Powar
Balm and Vapor Rub Market (Sales Channel - Retail Stores, Retail Pharmacies, Online Stores, and Others; End-user - Adult, and Children): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025
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Published : March, 2020
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Rep Id : BVRM342020
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No. of Pages : 187
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The fast-moving health goods (FMHG) industry is expanding as
innovative products are emerging in the market. This industry is dominated by
products like balms & rubs, medicated skin treatments, cough syrup and
drops, digestives and health. Balms and vapor rub products are most commonly
used as a cold and cough suppressant. Along with cough and cold, balms and
vapor rubs are also believed to relieve headache and body pain. The wide
medicinal applications of the balm and vapor rubs have made them popular among
the consumers. Moreover, newly developed balm and vapor rubs for children and
infants are helping the companies in the market to consolidate their position
and compete with each other.
The higher incidence rate of upper respiratory tract infections
is the major driver for the global balm and vapor rub market. Every year there
are millions of cases of the common cold in the United States alone. On
average, adults have about 2-3 colds per year, and the rates are even higher
for children. Cold and cough are often caused due to viral infection in the
upper respiratory tract. As of now, there is no treatment for the viral upper
respiratory tract infection. However, many patients use drugs and products to
gain relief from the symptoms. Moreover, the growing preference of consumers towards
purchasing over-the-counter (OTC) drugs and healthcare products is expected to
augment the demand for the balm and vapor rub across the world. The patients
can buy OTC drugs and healthcare products without prescriptions from the
doctor. This encourages patients to buy balm and vapor rub for primary
treatment of cough and cold.
On the other hand, stringent laws on the direct sale of vapor
rub balm in order to ensure consumer safety are one of the major restraining
factors for the growth of the market. Many balm and vapor rub products are
found to be harmful to small children and infants. Studies conducted by
several scientific communities have found that applying balm and vapor rub to
infants and children may cause them difficulty breathing and rashes on their
skin. The findings from such researches have influenced governments in various
countries to restrict the sale and usage of the balm and vapor rub products.
Nevertheless, the advent of a number of innovative products is anticipated to
offer profitable business opportunities for market players. The introduction of
novel products in the market such as natural and herbal balms and vapor rub for
children and infants is expected to augment the demand for balm and vapor rub.
Among the region, the Asia Pacific balm and vapor rub market
generated the highest revenue in the world. The domination of the Asia Pacific
region in the global balm and vapor rub market attributed to a large pool of
patients suffering from upper respiratory tract infection. According to WHO,
cold and cough are the most common disease in the Asia Pacific. The adults in
the Asia Pacific have 2-3 colds per year on average and the children have colds
on an average of 7-8 colds. Moreover, the balm and vapor rub market in the Asia
Pacific is expected to grow with the highest rate owing to increasing
disposable income of individuals and rising awareness among the population
regarding URTI and associated primary remedies.