Decongestant Market Growth Accelerated by Increasing Prevalence of Respiratory Disorders

 


Decongestants are pharmaceutical agents used for relieving nasal congestion associated with common cold, allergies and other respiratory illnesses. They work by constricting blood vessels in the nasal passages, thus reducing swelling and stuffiness. The growing incidence of respiratory disorders such as asthma, sinusitis and allergic rhinitis has fueled the demand for decongestants for symptomatic relief. Changing lifestyle and rising levels of air pollution have contributed significantly to the increasing prevalence of these conditions.

The global Decongestant Market is estimated to be valued at US$ 4,710.4 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing preference for oral decongestants over other modes of administration is one of the major trends being witnessed in the decongestant market. Oral medications are more convenient to use compared to nasal sprays and vapor rubs which require direct application to the nasal passage. They also offer longer lasting relief as the decongestant is absorbed systematically. The ease of use and sustained action have made oral tablets and capsules a preferred choice for frequent and chronic users suffering from persistent nasal congestion. Various pharmaceutical companies are focusing on developing advanced oral dosage forms with improved convenience and compliance. This shift towards oral decongestants is expected to drive the market growth over the forecast period.


Segment Analysis

The decongestant market can be segmented into oral and nasal decongestant. Among these, the nasal decongestant segment accounts for the largest share and is expected to remain dominant during the forecast period. Nasal decongestants provide faster action in clearing nasal congestion as compared to oral decongestants as they directly act at the site of congestion i.e. in the nasal cavity. Moreover, the local action of nasal decongestants has minimal side effects as they do not enter systemic circulation.

Key Takeaways
The global decongestant market is expected to witness high growth during the forecast period of 2023-2030. The market is projected to grow at a CAGR of 18% during this period and reach a size of $8,772.4 million by 2030.

Regional analysis
North America is currently the largest and fastest growing regional market for decongestants. High prevalence of nasal allergies and congestion in the region along with growing adoption of OTC drugs for instant relief is supporting the growth of decongestant sales. Asia Pacific is also emerging as a major regional market and is expected to witness strongest growth during the forecast period driven by large population base, increasing spending on healthcare and growing awareness about decongestants.

Key players
Key players operating in the decongestant market are Johnson & Johnson, Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Sanofi S.A., Bayer AG, Reckitt Benckiser Group plc, Prestige Consumer Healthcare Inc., Procter & Gamble Co. Johnson & Johnson and Pfizer Inc. dominate the global market with their wide product portfolios and strong geographic presence across North America and Europe.

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