Press release
Global Decongestants Market Size, Share - Industry Trend and Forecast 2016 - 2024
Decongestants are widely used in the treatment of nasal congestion. They are also used for relieving systems associated with hay fever, sinusitis, and colds and flu. Decongestants are usually available in the form of tablets, capsules, and nasal sprays. Considering that nasal congestion is often accompanied with other symptoms, pharma companies usually include painkillers in their decongestant formulations. Many decongestants are usually available over-the-counter, however, in case of children below six years of age and pregnant women, a prescription from a GP may be required.
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Key Factors Expected to Impact Decongestants Market
Global demand for decongestants has remained stable over the years, with sales usually increasing in winters when cold and flu cases are on an increase. During the forecast period 2016-2024, the global decongestants market is expected to witness steady growth, owing to increasing demand from Asia Pacific. Owing to steady economic growth, a burgeoning middle class has emerged in many Asian countries, especially in China and India. This consumer segment has increased the demand for many OTC healthcare products, as consumers are finally reducing their reliance on home remedies to treat common health problems. As a result of this, pharma companies can expected to witness higher demand for decongestants in the Asia Pacific region during the forecast period.
Seasonal allergies also have a bearing on the sales of decongestants as many people suffer from common symptoms like blocked nose, cold, and cough during early spring and late winter – when pollen concentration in the environment increases. Many pharma companies increase their marketing outreach during these months.
Demand for decongestants is also projected to be influenced by the growing geriatric population. As the world population ages, demand for various healthcare products and services is also witnessing an increase. Many elderly people suffer from nasal congestion when temperatures become sub-zero. It is forecasted that growing aging population will lead to higher sales of decongestants during the forecast period 2016-2024.
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Recent Studies Can Impede Market Growth
While demand for decongestants is anticipated to remain steady during the forecast period, recent studies suggesting the placebo effect of these medicines can stymie demand, especially among consumers who are proactively looking for in-depth information on drugs they consume. According to a study published in the Journal of Allergy and Clinical Immunology: In Practice in 2015, oral intake of phenylephrine was ineffective in treating nasal congestion. Phenylephrine is one of the major components of various decongestants available in the market.
Region-wise Analysis: Decongestants Market
In addition to Asia Pacific, Western Europe and North America are the other key markets for decongestants globally. Demand for decongestants in North America is largely driven by high sales in the U.S. – a lucrative market for OTC products. The U.S. is anticipated to remain a leading market for decongestants during the forecast period, while Canada will also contribute a significant share to total revenues in North America. Demand for decongestants in Western Europe is majorly influenced by climate, with sales witness an uptick during winters. The Western Europe decongestants market is expected to witness steady growth during the forecast period 2016-2024.
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Decongestants Market: Key Players
Leading companies in the decongestants market include Beximco Pharmaceuticals Ltd., Sandoz International GmbH (Novartis AG), Cipla Ltd., Mylan N.V., Teva Pharmaceutical Industries Ltd., and Ranbaxy Laboratories Ltd.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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