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The competitive landscape of the market is characterized by the presence of established pharmaceutical companies that involved in the production of phenylephrine-based drugs to treat allergic disorders vying for market share. Key players are engaging in strategic initiatives such as collaboration, product launch, investment, and partnerships to strengthen their product portfolio. The companies are actively adopting a multi-pronged approaches to address the rising demand for phenylephrine drugs.
Prominent players operating in the phenylephrine drugs industry are as mentioned below:
Novartis AG, Perrigo Company PLC, Johnson & Johnson Consumer Inc. (Kenvue Inc.), Proctor & Gamble Co., Pfizer, Inc., Foundation Consumer Brands LLC, Mylan N.V., Torrent Pharmaceuticals, Inc., GlaxoSmithKline PLC and Bayer AG.
North America phenylephrine drugs market secured 39.7% share in 2023 and is expected to grow throughout 2032, backed by respiratory conditions like common cold, allergies, sinusitis, and influenza.
The tablets segment in the phenylephrine drugs industry generated USD 8.1 billion in 2023, favored by regulatory approvals and guidelines for supporting the safety and efficacy of phenylephrine tablets.
The global phenylephrine drugs market was valued at USD 21.7 billion in 2023 and will grow at 6.6% CAGR during 2024-2032, driven by increase in prevalence of respiratory disease, such as common cold, allergies, and sinusitis.