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Intranasal Corticosteroids Market Anticipated to Propel The Growth by Roust CAGR of ~8% During 2022 – 2031 on the Back of Rising Cases of Sinusitis

Intranasal corticosteroid (INCS) treatment is the favored treatment choice for hypersensitive rhinitis (AR). As numerous patients with AR additionally have asthma, INCSs are frequently utilized simultaneously with standard support treatment for asthma like breathed in corticosteroids (ICS). A scope of INCS medicines are as of now accessible in Europe and the US for AR treatment, including original INCSs triamcinolone acetonide (TAA), flunisolide (FLU) (US just), budesonide (BUD), dexamethasone (DEX), beclomethasone dipropionate (BDP), and second-age INCS ciclesonide (CIC) (US just), fluticasone propionate (FP), mometasone furoate (MF) and fluticasone furoate (FF). These medicines are accessible as siphon splashes or spray metered-portion inhalers (MDI); a watery nasal shower (ANS) siphon is the most generally utilized gadget.

The global intranasal corticosteroids market is supposed to grow at USD 11.4 Billion by the end of 2032 and display tremendous development at a CAGR of 7.2% in the conjecture period from 2022 to 2032. According to the review, the rising inclination for different pharmacological treatments for treatment is expected to drive the interest for intranasal corticosteroids in ongoing years. The market is probably going to be esteemed at USD 6.1 Billion by 2022.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.

Rising cases of hay fever and sinusitis across the globe are anticipated to propel the growth of the market during the forecast period. In 2022, the National Library of Medicine published a report showing approximately 90% of the global population had symptoms of viral sinusitis when suffering from a cold. Hence, such factors are anticipated to drive the growth of the market during the forecast period.

Additionally, by administration, the global intranasal corticosteroids market is segmented into aerosol liquid, spray, and implants. Out of these sub-segments, the spray segment is estimated to obtain a notable share in the market during the forecast period. The growth of the segment can be accounted to the convenient affordability and higher utilization to provide relief in conditions such as cold and fever. A report published by American Lung Fever Association stated that there are nearly 200 types of viruses found that can cause cold and fever. Meanwhile, the number of times a person gets cold is 2 to 4 time annually. Moreover, intranasal corticosteroids are available in spray form in huge amounts.

Furthermore, the global intranasal corticosteroids market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the Asia Pacific region is estimated to grow at a significant pace over the forecast period on the back of increasing cases of rheumatoid arthritis, type 1 diabetes, and multiple types of sclerosis. As of 2021, International Diabetes Federation released a set of data stating that in South-East Asia, 90 million individuals had diabetes. Additionally, the figure is anticipated to grow exponentially reaching 152 million over the forecast period.

The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.

Higher Prevalence of Allergic Diseases to Foster the Growth of the Market

The National Library of Medicine published a report in 2019 representing that 0.3 million individuals die due to influenza every year across the globe.

Allergic diseases are generally associated with the nasal path. For instance, influenza is an allergic disease that infects the respiratory passages resulting in severe fever, aching, and catarrh. In these circumstances, intranasal corticosteroids are applied directly into the nasal path to decrease nasal mucosa inflammation, making it easier for the air to pass through. Therefore, such factors are anticipated to propel the growth of the market during the forecast period.

However, the possibility of side effects such as nosebleeds and crusting is expected to operate as a key restraint to the growth of the global intranasal corticosteroids market over the forecast period.

This report also provides the existing competitive scenario of some of the key players in the global intranasal corticosteroids market which includes company profiling of AstraZeneca PLC, Sunovion Pharmaceuticals Inc., Teva Pharmaceutical Industries Ltd., Johnson & Johnson Services, Inc., GSK plc, Sanofi S.A., Ivax Pharmaceuticals, Inc., OptiNose US, Inc., Chattem Chemicals, Inc., and Intersect ENT Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global intranasal corticosteroids market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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