Nasal decongestion is the monotherapy for common cold and several other breathing illnesses. Pharmaceutical companies are generating high revenues by packing these over-the-counter drugs. A growing body of studies have published encouraging result related to the safety and efficacy of nasal decongestants. These key findings enabled the expansion of prospects in the nasal decongestants market. Both randomized controlled trials and cluster randomized controlled trials have been part of the nasal decongestant trials.
The nasal decongestant market is anticipated to grow at CAGR of 5.84% during forecast period of 2021 to 2027. The nasal decongestants has shown noteworthy efficacy in relieving symptoms of nasal congestion from decades. The growing research and development activities on decongestants based on mucoadhesive solutions is propelling the growth of the nasal decongestant market. Increasing demand of over-the-counter decongestants for relieving of sinus like conditions is also boosting growth of nasal decongestant market. However, complications associated with overuse of nasal sprays is hampering the growth of nasal decongestant market.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the nasal decongestant market. In addition, complete analysis of changes on nasal decongestant expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The healthcare and pharmaceutical companies are going through high pressure for drug innovation to treat coronavirus in patients. The invention of vaccines by key players has lowered the pressure on the pharmaceutical companies to launch drugs for the novel infection. However, key players in nasal decongestant market are rising their R&D efforts. Due to these the nasal decongestant market have experienced positive impact during COVID-19 pandemics.
The nasal decongestant market is segmented into product type, application and geography.
The nasal decongestant market is comprised of product type such as nasal strips, tablets, sprays and capsules. In which nasal strips is also contributing to the healthy growth of nasal decongestant market. The pseudoephedrine is used for the temporary relief from stuffy nose and sinus pain which likely to caused due to the infection such as common cold and flu or other breathing illness like hay fever, allergies and bronchitis. It works by acting on alpha and beta-2 adrenergic receptor and causes vasoconstriction and relaxation of smooth muscle in the bronchi.
The nasal decongestant market is comprised of extensive application of nasal decongestants such as asthma, cold and nasal allergies. In which asthma is also contributing to the growth of nasal decongestant market. Asthma is a medical condition in which airways gets narrow and swell and likely to produce extra mucus. This may make difficulty in breathing along with whistling sound at the time of breath out and shortness of breath. There is several types of asthmas such as adult-onset asthma, allergic asthma, asthma-COPD overlap, exercise induced bronchoconstriction, non-allergic asthma and occupational asthma.
The nasal decongest market is studied for key regions such as North America, Europe, Asia Pacific and Rest of the World. In which North America is anticipated to dominate the market in 2020. The rising research and development activities in nasal decongest medicines is propelling the growth of nasal decongest market. The rising healthcare expenditure is also boosting growth of nasal decongest market. The rising use of over-the-counter nasal decongestant is refuelling growth of nasal decongest market. The rising adoption of sedentary lifestyles is also driving growth of nasal decongest market.
The major key players in nasal decongestant market are 3M, Abbott Laboratories, Adapt Pharma Inc., Aegis Therapeutics Llc, Allergan Plc, Aptargroup Inc., Astrazeneca Plc, Bayer, Becton, Dickinson And Company, Cipla, Glaxosmithkline Plc, Innovus Pharmaceuticals Inc., Johnson & Johnson Services Inc., Meda Pharmaceuticals Inc., Merck & Co., Inc., Mylan N.V, Nastech Pharmaceutical Company Inc., Nidda Healthcare, Novartis Ag, Patrick Parsons, Pfizer Inc., Procter And Gamble, Rugby Laboratories and Sandoz International Gmbh among others.
November 2019, Sandoz announced that it has entered into a binding agreement for the planned acquisition of the Japanese business of Aspen Global Incorporated (AGI), a wholly owned subsidiary of Aspen Pharmacare Holdings Limited. Strengthening position in world’s third largest generics market.
June 2019: AptarGroup, Inc. acquired two pharmaceutical services companies, Nanopharm Ltd. and Gateway Analytical LLC. The acquisitions are part of strategy to broaden its portfolio of services which supports pharmaceutical and biotech customers to accelerate their complex product development.
April 2019: Cipla Ltd. acquired 30% Stake in South African's Brandmed For Business Expansion. The Acquisition was carried out to pair the company’s strengths with Brandmed’s innovative, patient-centric approach to healthcare which will enhance Cipla Medpro’s portfolio.
December 2018: Procter & Gamble (P&G) completed the acquisition of Merck’s Consumer Health business. It is intended to improve P&G’s over the counter (OTC) geographic scale brand portfolio and category footprint across 15 markets.
The report analyses the nasal decongestant market based on product type, application and geography. The various product type covered in the market are nasal strips, tablets, sprays and capsules. Based on application, the market is segmented into asthma, cold and nasal allergies. The report also analysed the impact of COVID-19 on the nasal decongestant market and it analyses that the healthcare and pharmaceutical companies are going through high pressure for drug innovation to treat coronavirus in patients. The invention of vaccines by key players has lowered the pressure on the pharmaceutical companies to launch drugs for the novel infection. However, key players in nasal decongestant market are rising their R&D efforts. Due to these the nasal decongestant market have experienced positive impact during COVID-19 pandemics. The study also imparts the major key players operating in the market.
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