Intranasal Corticosteroids Sector: Growth Drivers and Challenges
Growth Drivers
-
Growing Geriatric Population with Low Autoimmune System to Hike the Market Growth:- Based on the statistics provided by the World Bank, in 2020, the global geriatric population was stated to be 723,595,779.
-
Increasing Sector of Cold & Cough Remedies - As of 2022, the cold & cough remedies sector was valued at approximately USD 40 billion.
-
Higher Prevalence of Cold and Flu - As per the report provided by the National Library of Medicine (NLM) in 2019, nearly 0.3 million people died on account of influenza across the globe.
-
Significant Demand in Allergic Rhinitis Treatment - The industry for global allergic rhinitis treatment is anticipated to reach around USD 7 billion by the year 2024.
-
Escalating per Capita Healthcare Expenditure Across the Globe - World Health Organization published a report demonstrating healthcare expenditure per capita in 2019 to be USD 1,121.97.
Challenges
-
Possibility of Side Effects such as Crusting and Nosebleed
-
Significant Number of People with Rhinophobia
-
Presence of Alternative Methods to Treat Allergies
Global Intranasal Corticosteroids Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.1% |
|
Base Year Market Size (2024) |
USD 7.13 billion |
|
Forecast Year Market Size (2037) |
USD 13.61 billion |
|
Regional Scope |
|
