Global Sinusitis Drugs Market 2019-2023| 6% CAGR Projection Over the Next Five Years | Technavio

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Technavio has published a new market research report on the global sinusitis drugs market from 2019-2023 (Graphic: Business Wire)

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.

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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

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View source version on businesswire.com: https://www.businesswire.com/news/home/20190611005620/en/