Phenylephrine Drugs Market Size

Phenylephrine Drugs Market Size

Phenylephrine Drugs Market size was valued at USD 21.7 Billion in 2023 growing at a CAGR of 6.6% between 2024 and 2032, driven by factors such as the increase in prevalence of respiratory disease such as the common cold, allergies, and sinusitis. As the prevalence of these conditions rises, the demand for phenylephrine-based drugs also increases.

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For instance, as per the report published by The Centers for Disease Control and Prevention (CDC) in January 2022, it has been reported that around 28.9 million adults in the U.S. were diagnosed with sinusitis, and the percentage of adults with diagnosed sinusitis were 11.6%. Thus, the rise in the prevalence of respiratory disease increases the number of visits to physician office, that increases the demand for phenylephrine.

Moreover, the increase in preference for non-sedating decongestant propel the growth of the market, as phenylephrine is favoured over pseudoephedrine, another decongestant, in many over-the-counter cold and allergy medications due to its non-sedating properties. As consumers increasingly seek medications that do not cause drowsiness, the demand for phenylephrine drugs grows.

Phenylephrine is used to relieve nasal discomfort caused by colds, allergies, and hay fever. It is also used to relieve sinus congestion and pressure. Phenylephrine relieves symptoms but will not treat the cause of the symptoms or speed recovery. Phenylephrine is in a class of medications called nasal decongestants. It works by reducing swelling of the blood vessels in the nasal passages. It primarily acts as an alpha-1 adrenergic receptor agonist and exhibits minimal to no beta-adrenergic activity.