Intranasal Corticosteroids Market

Intranasal Corticosteroids Market Snapshot

The global intranasal corticosteroids market is expected to reach US$ 11.4 Billion in 2032 and exhibit immense growth at a CAGR of 7.2% in the forecast period from 2022 to 2032. As per the study, the rising preference for various pharmacological therapies for treatment is anticipated to drive the demand for intranasal corticosteroids in future years. The market is likely to be valued at US$ 6.1 Billion in 2022.

Intranasal corticosteroids are considered to be safe and effective first-line therapies for allergic rhinitis. Some of the commonly available corticosteroids include triamcinolone acetonide, beclomethasone dipropionate, mometasone furoate, flunisolide, budesonide, and fluticasone propionate.

These are very effective in the treatment of perennial allergic rhinitis and seasonal allergic rhinitis. These are capable of relieving sneezing, rhinorrhea, itching, and nasal congestion that occur in the early and late phases of allergic response.

These corticosteroids belong to the family of medicines named steroids. They are usually inhaled or sprayed into the nose to help relieve hay fever, irritation, and stuffy nose.

These work best when utilized every day. Healthcare professionals often provide a daily schedule of the number of sprays that can be taken in each nostril. They also recommend starting the usage of intranasal corticosteroids at the beginning of pollen season to lower symptoms that occur during that season.

Are Rising Cases of Nasal Polyps Spurring the Intranasal Corticosteroids Market Growth

The surging prevalence of complexities associated with the nose and sinus, such as chronic sinusitis, nasal-rhinitis, and nasal-polyps is estimated to propel the sales of intranasal corticosteroids in the upcoming years. As per researchers, the prevalence rate of nasal polyps and allergies is expected to be nearly 2–4% and it can increase with age. These numbers are likely to grow in the forthcoming years, thereby pushing growth of the global market.

In addition to that, the growing demand for better treatment options for these nasal conditions is set to fuel the growth. Governments of both developed and developing countries are expected to conduct awareness programs to educate the masses regarding the availability of treatment options for these conditions, which would drive growth.

Which Side Effects Are Obstructing the Intranasal Corticosteroids Market Growth

Intranasal corticosteroids can have multiple side effects, such as dryness, infection, nosebleeds, itching, burning, crusting, and redness. Majority of these local side effects mimic those of sinusitis and allergies. Some of the rare body-wide side effects of these drugs include abnormal menstrual cycles, vomiting, glaucoma, clouding of eyes, and upper respiratory tract infections. Spurred by the aforementioned factors, the intranasal corticosteroids market growth may be hampered in future.

How is the North America Intranasal Corticosteroids Market Faring

The presence of numerous large- and small-scale pharmaceutical companies in the U.S. and Canada is anticipated to augment the North America intranasal corticosteroids market size in the evaluation period. Healthcare professionals based in these countries are expected to prescribe the desired therapeutic products of several nasal complications owing to the easy availability of medicines.

Besides, increasing awareness by regulatory bodies to encourage people to visit healthcare facilities for regular check-up of their body’s respiratory organ function is anticipated to accelerate the market. The rising number of new product launches across North America is another vital factor that is estimated to spur the growth.

Sabyasachi Ghosh

Principal Consultant

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Which Factors Are Anticipated to Propel the Asia Pacific Intranasal Corticosteroids Market

The rising prevalence of various autoimmune diseases, such as rheumatoid arthritis, multiple sclerosis, type 1 diabetes, and lupus in India and China is projected to bolster the Asia Pacific intranasal corticosteroids market share in the near future. The ever-increasing geriatric population in these countries is set to propel the cases of chronic diseases associated with the sinus.

As per a study published in the National Library of Medicine, about 20-30% of the Indian population suffers from allergic rhinitis and nearly 15% develop asthma. The treatment of this condition is anticipated to be a combination of allergen immunotherapy, pharmacotherapy, and allergen avoidance. This trend is expected to continue throughout the assessment period, thereby fostering the Asia Pacific market.

Market Competition

Some of the prominent companies operating in the global intranasal corticosteroids market include AstraZeneca, Merck Sharp & Dohme Corp., Teva Branded Pharm, GlaxoSmithKline plc., Ivax Pharmaceuticals Incorporated, Sanofi, McNeil Consumer Healthcare, and Sunovion Pharmaceuticals Inc. among others.

Leading companies present in the market are currently aiming to develop innovative products to keep up with the surging demand from consumers. They are conducting research and development activities to find new solutions to deliver better treatment options. Meanwhile, some of the other key players are striving to expand their manufacturing capacities and upgrade their portfolios to strengthen their positions in the global market.

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Report Scope

Key Segments Profiled in the Intranasal Corticosteroids Industry Survey

By Drug Type:

• Prescribed Drugs
• Beclomethasone
• Budesonide
• Ciclesonide
• Flunisolide
• Fluticasone Furoate
• Fluticasone Propionate
• Mometasone
• Triamcinolone
• OTC Drugs
• Budesonide
• Fluticasone Furoate
• Fluticasone Propionate
• Triamcinolone

By Indication:

• Perennial Allergic Rhinitis (PAR)
• Seasonal Allergic Rhinitis (SAR)
• Non-allergic Rhinitis

By End User:

• Hospital Pharmacies
• Drug Stores
• Retail Pharmacies
• Online Pharmacies

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East and Africa