Nasal Decongestant Market: Outlook
Nasal decongestants in monotherapy for the common cold and several other breathing illnesses. Pharmaceutical companies have been garnering huge revenue gains by packing these available as over-the-counter drugs. A growing body of studies have revealed encouraging results pertaining to the safety and efficacy of nasal decongestants. These findings have been key enabler for the expansion of prospects in the nasal decongestants market. Both randomized controlled trials (RCTs) and cluster-RCTs have been part of such trials.
In recent months, the emerging COVID-19 pandemic has spurred the sales of nasal decongestants as self therapy in common populations in various parts of the globe. This has been imparting a thrust to the expansion of opportunities to manufacturers of nasal decongestants.
The study offers a key assessment of various growth dynamics, share and size of key segments, trend and opportunities. The report also highlights key impediments for the expansion of the market in major regions. Furthermore, it takes a closer look at recent body of research and development in various parts of the world, and tracks industry attention on such activities. The study provides insights into the competitive landscape, mainly including intensity of competition, barrier entry, and new product launches.
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Nasal Decongestant Market: Competitive Analysis and Key Developments
Encouraged by effectiveness of multiple-dose nasal decongestants, manufacturers and drug makers have been taping into the revenue potential of the effectiveness of single-dose nasal decongestants market. The safety data pertaining to their use in pediatric population is an emerging avenue for industry players. Growing research and development on decongestant-based mucoadhesive solutions is expected to open new avenues in the nasal decongestant market.
Top manufacturers engaged in developing nasally applied drugs have increased their research and development funding. Some of the promising players in the nasal decongestant market are Rugby Laboratories, Procter and Gamble, Nidda Healthcare, Patrick Parsons, Bayer, Cipla, Glaxosmithkline, and Abbott Laboratories.
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Nasal Decongestant Market: Key Trends
Nasal congestion has bothered patients worldwide and decongestants has shown remarkable efficacy in relieving the symptoms over the past two decades. This is a potential strong trend behind the evolution of the nasal decongestant market. The demand in the market gained momentum mainly due to patients looking for better clinical option than commercial nonmucoadhesive product.
Some of the key product types in the nasal decongestants market are nasal strips, tablets, sprays, and capsules. Randomized, placebo controlled trials on the safety and metadata are likely to fast expand the applications avenues in the nasal decongestants market during 2020 – 2030. The prevalence of asthma has been boosting the nasal decongestant market, since it has shown significant effectiveness in nasal congestions that are symptomatic of severe asthma. Assessment of nasal airflow resistance is a promising avenue in the expansion of the nasal decongestant market. Growing number of otolaryngology examinations have expanded the awareness of nasal decongestion in developing regions.
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Nasal Decongestant Market: Regional Analysis
Key regions in the nasal decongestant market are North America, Europe, Asia Pacific, and the Middle East and Africa. Of these, North America has been experiencing attractive strides in the global market. The growth has been propelled by extensive research on the efficacy and safety of nasal decongestants. Further, patient populations in developing regions are increasingly demanding over-the-counter decongestants to relieve sinus-like conditions and nasal allergies, such as in Asia Pacific. Developing economies have witnessed the rise in sales of topical and oral nasal decongestants in common cold.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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