LONDON--(BUSINESS WIRE)--The global sinusitis drugs market is expected to post a CAGR of over 6% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global sinusitis drugs market is the rise in the prevalence of sinusitis. Sinus infection is caused due to the fluid entrapment in the sinus glands, eventually inducing the propagation of germs in these glands. Allergies, pollutants, and fungal infections are vital factors responsible for the rising incidence of sinusitis. This has led to the need to develop and manufacture sinusitis drugs among the several stakeholders of the healthcare industry. Growing awareness about the symptoms of the disease is propelling an early diagnosis resulting in better clinical outcomes. This will foster the growth of the sinusitis drugs market during the forecast period.
As per Technavio, the advent of biologics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global sinusitis drugs market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global sinusitis drugs market: Advent of biologics
The emergence of biologics is one of the critical trends gaining traction in the sinusitis drugs market. Among the biologics that are currently being evaluated, omalizumab has evolved as the most suitable candidate. Omalizumab, a recombinant humanized monoclonal antibody, has been approved for the treatment of severe allergic asthma in the US and Europe. Scientists are evaluating Omalizumab on the parameters of safety and efficacy for the treatment of chronic rhinosinusitis with nasal polyps. Successful launch of biologics such as omalizumab is likely to drive the sinusitis drugs market growth in the forthcoming years.
“The sinusitis drugs market is witnessing rising investments in the R&D by several market participants to develop novel drugs for the treatment of this chronic condition. Thus, the increasing investments coupled with the emergence of novel drug delivery systems is expected to ensure increased volume consumption of the sinusitis drugs market during the forecast period,” says a senior research analyst at Technavio.
Global sinusitis drugs market: Segmentation analysis
This market research report segments the global sinusitis drugs market by product (steroid nasal sprays, antibiotics, decongestants, and other drugs) and geographic regions (North America, Europe, Asia, and ROW).
North America led the market in 2018, followed by Europe, Asia, and ROW, respectively. The market growth in North America can be attributed to the increased investments in R&D by large pharmaceutical companies and the presence of a proper regulatory framework for the approval of new drugs in the region.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
