Industry Outlook
Sinusitis treatment drugs market valued at about USD 2.1 billion in 2019 and expected to reach about USD 2.9 billion by 2029 with an estimated CAGR of 3% during the forecast period of 2021 to 2029.
Sinustis is defined as an inflammation of paranasal sinuses. Key causes include autoimmune reactions, allergy or physical obstruction. Sinusitis could be acute (symptoms lasting for 4 weeks) or chronic (symptoms extending more than 12 weeks). Acute sinusitis usually is caused by virus and effective method of treatment were nasal irrigation. For chronic sinusitis, patients were prescribed with antibiotics, topical and corticosteroids, and other medications. Sinusitis affects nearly 40% of the US population, with annual treatment costs of $ 8.6 million. Such high prevalence especially among the urban population has been the prime driving factor. Increasing pollution due to urbanization, air and water pollution has made the people more vulnerable to bacteria and viruses causing sinusitis. In addition, there has been significant transformation in the diagnosis of sinusitis from merely physical examination to application of endoscopy and computed tomography (CT) have improved the process of diagnosis and eventually increased the diagnosis rate.
Decongestant & mucolytic agents contributed to the highest revenue in the year 2019 and is also expected to perform consistently and maintain it’s significant even during the forecast period of 2021 to 2029. The increasing awareness among the public has encouraged to sought for the treatment quite early leading to first line of treatment including nasal saline irrigation and nasal corticosteroid sprays. This also led to increased percent of population being diagnosed for sinusitis. Emerging technologies withrespect to drug delivery has eased the process of treatment. In term of therapeutic options antibiotics accounted to the fastest growth during the forecast period of 2021 to 2029. There has been keen focus among the pharma companies to invest in novel antibiotics that were efficient with lesser side effects. National Institute of Health (NIH) recorded that in 1000 patients, the incidence of acute sinusitis is 15 to 40 episodes per year. This makes it the second most common infections across the globe.
In year 2019, decongestant & mucolytic agents accounted for the largest market share and expected to maintain its dominance throughout the forecast period.The key factors responsible for market growth are first line of action for non-infectious sinusitis, upcoming novel technologies of drug delivery, and increasing patient-awareness has assisted the growth in disease diagnosis rate.During the forecast period from 2021 to 2029, antibiotics observed as fastest growing segment due to key market drivers such as developing diagnostics technologies.As per the latest research quote published by National Institute of Health (NIH), the incidence of acute sinusitis is 15 to 40 episodes in 1000 patients per year.Acute sinusitis is the second most common infectious disease encountered by general practitioners throughout the globe.
North America topped the revenues for sinusitis treatment drug market. Key factors that can be attributed to the market growth are increased prevalence of sinusitis, increased awareness leading to patients approaching the medical experts for diagnosis and treatment, increased focus on technological innovation that led to efficient delivery of treatment and diagnosis. Interms of growth rate Asia Pacific is expected to witness the highest CAGR from 2021 to 2029. The key reason was increasing urbanization in this region that ultimately led to pollution in APAC region such as China, Indonesia, India, Srilanka and so on. The increasing healthcare infrastructure increased the patient poll turning for diagnosis and treatment. Not to forget that India and China held the largest population in the world.
Key players included in the report include Pfizer, Inc., Janssen Pharmaceuticals, Abbott Laboratories, GlaxoSmithKline Plc, Sanofi SA, Novartis AG, and Teva Pharmaceutical Industries, Ltd. among others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Sinusitis Treatment Drugs market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Treatment
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
