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Decongestants are over-the-counter medication used to relieve nasal congestion caused by common cold, allergies, hay fever, sinusitis and other respiratory disorders. These medications work by constricting blood vessels in the nasal passages to reduce swelling and block histamine, which causes congestion during allergic reactions. Commonly used decongestants include phenylephrine, pseudoephedrine and others. They are available in several forms such as oral tablets, liquid gels, sprays and nasal drops. Rising prevalence of respiratory disorders such as asthma, chronic obstructive pulmonary disease (COPD) and seasonal allergies has fueled the demand for decongestants globally.
The global decongestant market is estimated to be valued at US$ 4,710.4 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The rising prevalence of respiratory disorders is expected to drive the decongestant market during the forecast period. As per the reports published by organizations like American Lung Association, over 25 million Americans suffer from asthma. Other respiratory conditions like COPD, respiratory infections and allergies are also on the rise. Extended seasons of pollen and molds due to changing environment have aggravated allergic rhinitis and nasal congestion issues. This growing incidence of respiratory illnesses has increased the sales of decongestants for symptomatic relief. Furthermore, initiatives by market players to launch advanced formulations like fast-acting nasal sprays and combination products containing decongestants along with antihistamines will further aid the market growth. However, side effects associated with oral decongestants like increased blood pressure and insomnia limit their long-term use.
Segment Analysis
The decongestant market is dominated by oral tablets sub-segment, which generates around 43% of total market share. Oral tablets are most commonly used decongestants due to ease of administration and quick absorption in the bloodstream. They provide temporary relief from nasal congestion within 30 minutes of intake.
PEST Analysis
Political: Government regulations regarding the usage of certain pharmaceutical ingredients in decongestants may restrain the market growth. However, regulations also ensure the safety of consumers.
Economic: Rising disposable incomes have increased healthcare spending on cold, cough and flu. This provides opportunities for decongestant manufacturers to expand their consumer base.
Social: Changing lifestyles and increased air pollution levels have led to a higher prevalence of seasonal allergies and viral infections. This drives the need for over-the-counter decongestants for self-medication.
Technological: Advances in drug delivery systems help develop advanced decongestant formulations like sprays, patches, and lozenges for providing fast relief. Some new products also impart long-lasting effects.
Key Takeaways
The global decongestant market is expected to witness high growth at a CAGR of 18% during the forecast period of 2023 to 2030.
Regional analysis comprises- North America region currently dominates the global market and is expected to retain its leading position during the forecast period as well, owing to the rising incidence of nasal congestion in the region.
Key players analysis- Key players operating in the decongestant market are Johnson & Johnson, Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Sanofi S.A., Bayer AG, Reckitt Benckiser Group plc, Prestige Consumer Healthcare Inc., Procter & Gamble Co. Johnson & Johnson leads the global market with its popular brands like Sudafed.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
