The market for Sinusitis Treatment Drugs is expected to reach US$ 2,006.9 Mn in 2026.
The market for sinusitis treatment drugs had a market value of US$ 2,006.9 million in 2017 and is expected to grow at a CAGR of 3.2% between 2018 and 2026.Sinusitis is an inflammation of the paranasal sinuses caused by allergies, autoimmune reactions, or physical obstructions. According to the American Academy of Allergy, Asthma, and Immunology (AAAI), sinusitis is of two types: acute and chronic, where acute sinusitis symptoms last for less than four weeks, while chronic sinusitis is diagnosed when symptoms last for more than 12 weeks. Sinusitis affects approximately 40% of the population in the United States, resulting in an annual treatment expenditure of approximately US$ 8.6 billion. According to medical experts, acute sinusitis is usually of viral etiology, and patients are treated with supportive therapies such as nasal irrigation. In the case of chronic sinusitis, patients are on multiple regimens of antibiotics, local and systemic corticosteroid therapy, and other drugs. The key factors driving the global sinusitis drugs market are the high prevalence of sinusitis and its even higher incidence in the urban population. Shifts in lifestyle, growing urbanization and industrialization, and similar factors have led to increased air, water, and soil pollution worldwide. This, as a result, has led to increased exposure to infection-causing viruses and bacteria, thereby growing the risk of sinusitis. Furthermore, the evolution of sinusitis diagnosis from physical examination to novel endoscopy and computed tomography imaging techniques has resulted in an increased sinusitis diagnosis rate. This, in turn, has augmented the potential patient pool and thereby increased the demand for sinusitis treatments.
In 2017, decongestant and mucolytic agents accounted for the largest market share and were expected to maintain their dominance throughout the forecast period. The key factors responsible for market growth are the first line of action for non-infectious sinusitis, upcoming novel technologies of drug delivery, and increasing patient awareness, which has assisted the growth in disease diagnosis rates. During the forecast period from 2018 to 2016, antibiotics were observed as the fastest-growing segment due to key market drivers such as developing diagnostic technologies. As per the latest research quote published by the National Institute of Health (NIH), the incidence of acute sinusitis is 15 to 40 episodes per 1000 patients per year. Acute sinusitis is the second-most common infectious disease encountered by general practitioners throughout the globe.
North America dominated the sinusitis treatment drug market due to key factors such as the rising prevalence of sinusitis coupled with developed diagnostic technologies and high disease awareness among patients and medical practitioners. In addition, upcoming novel drug delivery technologies are expected to assist the market's growth in the near future. During the forecast period from 2018 to 2026, Asia-Pacific was observed as the fastest-growing region due to factors such as the rising prevalence of sinusitis, increasing awareness about nasal and sinus disorders in patients, and developing healthcare infrastructure with skilled healthcare professionals. In addition, swift urbanization and industrialization in key countries such as China, India, and Indonesia have led to air pollution in urban areas and increased the risk of sinusitis. China and India alone house the largest share of the global population, therefore presenting a significant patient pool.
The sinusitis treatment market was analyzed considering current market trends for the base year of 2017, and based on future trends, CAGRs were calculated for the forecast period from 2018 to 2026.
This report on the global market for sinusitis treatment offers in-depth information related to market dynamics and global trends. The report provides a comprehensive summary of the global sinusitis treatment market by segmenting the market based on treatment type and geography. The objective of publishing this in-depth research report is to assist industry stakeholders in carrying out decisions and strategy implementation in the sinusitis treatment market.
This report further describes the major qualitative assessment factors, including key market trends, market drivers, and market restraints, to assist in a better understanding of the global sinusitis treatment market. Furthermore, the key players were analyzed graphically based on their product offerings, market strategies, and business strengths. The report also provides an attractive investment proposition based on the extensive geographical research carried out based on PESTEL analysis. Key players profiled in the report include Pfizer, Inc., Janssen Pharmaceuticals, Abbott Laboratories, GlaxoSmithKline Plc, Sanofi SA, Novartis AG, and Teva Pharmaceutical Industries, Ltd., among others.
The market for Sinusitis Treatment Drugs is expected to reach US$ 2,006.9 Mn in 2026.
The Sinusitis Treatment Drugs market is expected to see significant CAGR growth over the coming years,at 3.2%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
Pfizer, Inc.,Abbott Laboratories, Inc.,Janssen Pharmaceuticals, Inc.,GlaxoSmithkline, Plc.,Sanofi SA are some of the major players in the global market.