The decongestant market involves medications that help relieve nasal congestion by constricting blood vessels in the nasal passage. Common decongestants include pseudoephedrine and phenylephrine. They are available both as prescription drugs and over-the-counter medications in various forms such as tablets, capsules, liquids and sprays. Decongestants work by contracting the blood vessels in the nasal passages, thus reducing swelling and congestion. They provide quick relief from cold, flu, allergy or sinusitis related congestion. The rise in self-medication and growing preference for OTC medications over prescription drugs have been fueling the sales of decongestants. Moreover, symptoms like nasal congestion associated with COVID-19 infection have further propelled the demand for decongestants during the pandemic.
The Global decongestant market is estimated to be valued at US$ 17.88 Bn in 2024 and is expected to exhibit a CAGR of 6.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the decongestant market are Johnson and Johnson, Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Sanofi S.A., Bayer AG, Reckitt Benckiser Group plc, Prestige Consumer Healthcare Inc., Procter and Gamble Co., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd, Perrigo Company plc, Church and Dwight Co., Inc., Mylan N.V. Marinomed Biotech AG, Dr. Reddy's Laboratories Ltd. These players dominate the market with their wide product portfolio and strong distribution channels.
The growing prevalence of common cold, flu and allergies has Decongestant Market Trends demand for decongestants. Self-medication has gained popularity for the quick relief offered by these drugs from nasal congestion symptoms. This has boosted the sales of OTC decongestants significantly.
The Decongestant Market Size And Trends is expanding globally with the sales increasing across various regions. Manufacturers are focusing on emerging markets in Asia Pacific and Latin America for future growth opportunities. Ease of OTC availability and rising healthcare expenditures are aiding the market growth in developing nations.
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