Acute Viral Rhinosinusitis Treatment Market Key Strategies, Application, Growth, Trends and Opportunities 2032
The global Acute Viral Rhinosinusitis Treatment Market was robust in 2020 and is expected to grow at a steady pace over the forecast period. The key drivers of market growth include the rise in the incidence of rhinosinusitis, advancements in medical technology, and the development of therapeutic strategies. Increasing government initiatives to develop new and effective drugs in several countries are also contributing to market demand.
Rhinosinusitis, also known as sinusitis, is a prevalent medical condition that prompts patients to seek medical attention. This condition is marked by inflammation of the nasal mucosa and paranasal sinuses, leading to symptoms such as reduced sense of taste and smell, nasal congestion, facial pressure or pain, cough, and drainage in the throat.
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The subtypes of rhinosinusitis include acute, subacute, recurrent acute, and chronic. Acute rhinosinusitis is an inflammatory disease, further specified as bacterial or viral, depending on the causative organism.
According to Clinic Barcelona Hospital Universitari, acute viral rhinosinusitis (AVRS) or the common cold can last up to 10–15 days and affects all age groups. It can be caused by over 200 different viruses, with the most common being rhinoviruses, followed by influenza viruses, coronaviruses, and adenoviruses. In 20%–30% of cases, no virus is discovered at all. The cases of viral ARS or acute rhinosinusitis are treated symptomatically using analgesics and NSAIDs.
The revenue growth of the global acute viral rhinosinusitis treatment market is significantly driven by rising awareness about sinusitis and approval for new drugs. Ongoing research and development activities to manage and cure rhinosinusitis are expected to positively impact revenue growth of the market. The ease of availability of over-the-counter products for symptomatic relief also positively affects market growth. In addition, advancements in medical science, increase in laboratory activities, increasing number of medical and surgical treatment options for treatment of acute viral rhinosinusitis, rising need for innovative new therapies, and public-private partnerships to develop effective drugs are some factors expected to continue to support market growth going ahead.
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The global acute viral rhinosinusitis treatment market growth is substantially hampered by several unfavorable factors. High treatment costs and lack of reimbursement policies make the treatment unaffordable, especially for lower-income groups of people. Furthermore, rising treatment complications and side effects are major factors expected to restrain market growth significantly. For instance, nasal corticosteroids can reduce the strength of the immune system and can lead to itchiness and dryness in the nose.
The increasing government emphasis on digitalization and technological advancements in medical science are factors expected to continue to open up lucrative business opportunities for major players and new entrants in the market. Introduction of digital twin, Artificial Intelligence (AI) & Machine Learning (ML), virtual reality, and advancements in cloud software helps medical researchers in making discoveries regarding data collection, treatments, symptom on acute viral rhinosinusitis. Having access to low-cost advanced software results in lower research and treatment costs.
Based on treatment type, the NSAIDs segment is expected to reach the highest revenue share over the forecast period as it helps to reduce pain, prevents blood clots, decreases fever, and decreases inflammation. Based on the distribution channel, the hospital pharmacies segment is expected to dominate all other segments in terms of revenue generation over the forecast period. Major factors contributing to this segment’s growth are increasing numbers of hospital pharmacies (especially during Covid 19) and rising government and private investments in the availability of nonsteroidal anti-inflammatory drugs.
North America emerged as the largest market for acute viral rhinosinusitis treatment in 2020, with the highest revenue share.
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