[219+ Pages Report] We at Facts And Factors have recently added a market study titled “Nasal Spray Market” to our plethora of market studies. We transcribed the market study with a goal of giving our readers a comprehensive read in order to give our readers a complete grasp on the market in terms of revenue, size, and volume. Furthermore, we estimate that the global Nasal Spray Market will grow from an initial value of USD 12 Billion in the year 2020 to a value of USD 21.50 Billion with a growth rate of 6.15% CAGR by 2026 over the forecast period 2021 2026.
Global Nasal Spray Market: Overview
Nasal sprays are often incorporated to treat allergies through the primary pathway of nasal airway as a mode of delivery. Oftentimes, nasal sprays are incorporated for curing or relieving conditions such as nasal congestion & allergic rhinitis. Additionally, these sprays can also be utilized as the usual pathway for pills or injection as they are unavailable for these purposes due to certain complex situations. Given the current advancements in the nasal spray market, added functionality of these sprays can be spread across hormone replacement therapy, treatment of Alzheimer’s and Parkinson’s and migraines. Nasal sprays are often seen as a more effective method for bypassing the drugs by crossing the blood-brain barrier.
Global Nasal Spray Market: Growth Factors
The growing factors contributing to the growth are the rise in the nasal spray demand coupled with growing preference of nasal drug deliveries by consumers for increased efficacy and growing adoption of self-administered practices among others. Additional factors include the pathway of intranasal drug delivery systems to be proven to be the most efficient method among the healthcare sector. Furthermore, a rise in the trend such as using minimal forms of treatment across the board is likely to propel the growth of the nasal spray market during the forecast. Factors pertaining to nasal drug delivery not requiring any medical prerequisite such as sterilization further increase the comfort level associated with this form of treatment. This will lead to a larger footprint of the nasal drug delivery market during the forecast.
A rise in infectious diseases, as well as allergic conditions among consumers, is bound to open new revenue opportunities for the nasal spray market during the forecast. Additionally several factors such as easy availability, low cost, painless drug delivery system, and better patient convenience will rise the preference of drug delivery systems over its counterpart further leading to a boost in sales. Several complications related to the overuse of these nasal sprays and certain regulatory hurdles can hinder the growth of the market to a certain extent.
Global Nasal Spray Market: Segmentation
The global nasal spray market can be segmented on the basis of class, dosage, form, patient type, prescription mode, container, therapeutic class, application, end-users, and region.
The global nasal spray market can be segmented into salt-water solution, decongestants, steroid, antihistamine, and others on the basis of class. Based on form, the global nasal spray market can be fragmented into sprays, drops & liquids, powders, and gels. By container, the nasal market can be divided into pressurized canisters and pump bottles. The pump bottles are expected to account for the largest market share during the advent of the forecast. The primary factors for the growth of the category can be credited to better reliability, ease of availability, self-containment ability, portability, and low-cost aerosol delivery when compared to its counterpart. The global nasal spray market can be bifurcated into multi-dose, bi-dose, and unit-dose systems based on dosage. The multi-dose category is expected to witness the highest market share during the forecast period in terms of global revenue contributed. The governing factors behind the rise of this category can be contributed to the growing preference of these systems by providing a rapid and reliable delivery of drugs into the bloodstream. Based on patient type, the market is divided into infant, pediatric, and adult. By therapeutic class, the market is categorized into antihistamine, nasal steroids, mast cell inhibitor, and anticholinergic. On the basis of prescription mode, the nasal spray market is classified into over-the-counter and prescription-based. The global nasal spray market can be segmented into allergic and non-allergic rhinitis, nose congestion, central nervous system disorders, vaccination, and others on the basis of application. The nose congestion category holds the largest share in the market due to the growing prevalence of the condition in both developed and developing nations. The global nasal spray market can be fragmented into home care settings, clinics, ambulatory surgery centers, community healthcare centers, and hospitals on the basis of end-users. The homecare setting is expected to witness the largest market share in the forecast in terms of global revenue contribution due to increasing patient preference for self-administering needs and the added benefits of saving time and money. The hospital segment will account for significant market growth during the same period with an increase of patients suffering from chronic rhinitis being the major driver.
Global Nasal Spray Market: Regional Analysis
North America is expected to occupy the largest market share in the regional outlook during the forecast. Certain factors that govern the dominant rise of the market can be credited to a rise in patients suffering from nasal allergies, allergic rhinitis, and structural blockages in the region. Furthermore increased patient awareness among the added benefits of nasal drug delivery systems such as precision, painless procedure, and increased patient awareness will further penetrate the nasal spray market in the region to a larger footprint. Asia-Pacific is expected to witness the fastest growing CAGR during the forecast.
Global Nasal Spray Market: Competitive Players
The key participants in the global nasal spray market are Merck & Co., Inc., Ultratech India Limited, Novartis AG, Johnson & Johnson Services, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., AstraZeneca plc., Aishwarya Group, AptarGroup, GlaxoSmithKline plc, Catalent, Inc., ADAPT Pharma, Inc., Egalet Corporation, ARIUS FORMULATIONS PVT LTD., St. Renatus, Mylan N.V., LEEFORD HEALTHCARE LTD., Aurena, Cipla Ltd, ALLERGAN, INNOVUS PHARMACEUTICALS, INC., Bayer AG, J Pharmaceuticals, and Sandoz International GmbH, among others.
The global nasal spray market is segmented into:
Global Nasal Spray Market: By Class Segment Analysis
Global Nasal Spray Market: By Form Segment Analysis
Global Nasal Spray Market: By Patient Type Segment Analysis
Global Nasal Spray Market: By Prescription Mode Segment Analysis
Global Nasal Spray Market: By Therapeutic Class Segment Analysis
Global Nasal Spray Market: By Container Segment Analysis
Global Nasal Spray Market: By Dosage Segment Analysis
Global Nasal Spray Market: By Application Segment Analysis
Global Nasal Spray Market: By End-Users Segment Analysis
Global Nasal Spray Market: By Regional Segment Analysis
KEY REPORT POINTERS & HIGHLIGHTS:
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