Sinusitis Treatment Market to Rise at CAGR of 3.6% during Forecast Period, Observes TMR Study
- Med-tech firms are stepping up their R&D efforts to build devices that use bi-directional exhalation to enable fluticasone to pass through obstacles in the nasal cavity
- Due to advancements in bacterial infection diagnosis and increase in invasive bacterial diseases, Europe is expected to be an important regional market
ALBANY, N.Y., March 9, 2022 /PRNewswire/ -- The value of the global sinusitis treatment market stood at US$ 2.9 Bn in 2020 and is estimated to develop at a CAGR of 3.6% during the forecast period, from 2021 to 2031. As symptoms of sinusitis match with those of COVID-19, market players in the global sinusitis treatment market are raising awareness about e-health and telemedicine to lower the burden on healthcare providers and lessen clinical visits. Individuals in metropolitan areas are increasingly utilizing digital consultations. Participants in the value chain are mapping potential telemedicine growth opportunities to expand its reach in rural areas.
Adults with acute sinusitis need to rethink their treatment options. Antibiotic overuse has resulted in the rise of drug-resistant bacteria, which has become a major public health concern in countries such as the US. Patients as well as healthcare systems are experiencing death, higher morbidity, and expenditures as a result of this. In addition, players in the global sinusitis treatment market are stepping up their R&D activities to provide better alternative solutions for treating patients' symptoms.
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Antibiotics are expected to be the second most profitable treatment type in the global market. Current trials assessing the effectiveness of antibiotics for acute sinusitis, on the other hand, have mostly excluded individuals with severe infections or co-existing comorbidities including pulmonary disease or diabetes. This has emphasized the significance of rigorous research studies on sinusitis treatment to better clinical outcomes with the use of antibiotics.
Key Findings of Market Report
- Antihistamines held about 32% share of the global market in 2020, in terms of treatment. The category is expected to grow at a CAGR of 3.85% during the forecast period. Antihistamines are over-the-counter medications that are used to treat symptoms of sinus infections, colds, and allergies. As a result, increasing utilization of these treatments is estimated to add to the segment's growth.
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- In 2020, the acute sinusitis category represented around 35% of the market in terms of disease type. The segment is predicted to grow at a CAGR of 4.03% during the forecast period. A common cold is the most prevalent cause of acute sinusitis. Congestion and nasal blockage, which can clog sinuses and restrict mucus discharge, are possible symptoms. As a result, increase in the number of instances of the common cold and flu raises the risk of acute sinusitis, which is likely to bolster growth of the global sinusitis treatment market.
- Based on administration route, the oral segment held 60% of the global market share in 2020. The segment is expected to grow at a CAGR of 3.72% during the forecast period. Due to its clear advantages, such as convenience of administration, continuous and regulated distribution, patient compliance, and enhanced immune response in the case of vaccines, the oral channel has garnered huge interest.
- Owing to the high frequency of chronic rhinosinusitis (CRS) in the U.S., market players are likely to observe significant revenue prospects in the region. Nasus Medical is designing a solution for enhanced intra-nasal medication administration to meet incremental potential in CRS treatment. Competitors are taking cues from these breakthroughs to develop improved technologies that enable patients to self-treat chronic sinusitis symptoms early at home settings.
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Global Sinusitis Treatment Market: Growth Drivers
- Due to rise in viral and bacterial illnesses in Asia Pacific, the sinusitis treatment market is predicted to grow rapidly during the forecast period. Besides, initiatives to raise public awareness of sinusitis is expected to boost demand in the regional market.
- As nasal steroid sprays are typically unsuccessful since they only hit the frontmost region of the nasal cavity, market players are stepping up their R&D efforts to develop devices that address problems beyond nasal inflammation. These instruments aid in locating the most effective anatomic target for sprays.
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Global Sinusitis Treatment Market: Key Players
Some of the key market players are
- Dr. Reddy's Laboratories, Inc.
- Hikma Pharmaceuticals plc.
- Teva Pharmaceutical Industries Ltd.
- Amneal Pharmaceuticals LLC.
- Fresenius Kabi USA, LLC.
- Eli Lilly and Company
Global Sinusitis Treatment Market: Segmentation
Treatment
- Analgesics
- Antihistamines
- Corticosteroids
- Antibiotics
- Sulphonamides
- Quinolones
- Surgery
Disease Type
- Acute Sinusitis
- Sub-acute Sinusitis
- Chronic Sinusitis
Route of Administration
- Topical
- Nasal
- Oral
- Injectable
Distribution Channel
- Online Pharmacies
- Retail Pharmacies
- Hospital Pharmacies
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