Press Release

Jul, 20 2023

Enhancing Drug Absorption with the Rise of Nasal Spray Formulations

The global nasal spray market is experiencing robust growth, driven by various positive factors. The increasing prevalence of nasal allergies, sinusitis, and rhinitis, coupled with growing awareness about the benefits of nasal spray for quick relief, fuels market demand. Technological advancements and innovative formulations enhance the effectiveness and convenience of nasal sprays. Furthermore, favorable government initiatives and investments in healthcare infrastructure support market growth. With a focus on improving patient outcomes and providing non-invasive treatment options, the global nasal spray market is poised for continued expansion, benefiting individuals worldwide.

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Data Bridge Market Research analyses that the Nasal Spray Market is expected to grow at a value of USD 38,026.75 million by 2030, at a CAGR of 6.7% from USD 22634.65 in 2022 during the forecast period from 2023 to 2030. There is a greater awareness among individuals regarding the benefits of nasal spray for relieving symptoms such as congestion, runny nose, and nasal irritation. This increased awareness, coupled with the acceptance of nasal spray as a convenient and non-invasive treatment option, fuels market growth.

Key Findings of the Study

Nasal Spray Market

Expansion of over-the-counter (OTC) availability is expected to drive the market's growth rate

The expansion of over-the-counter (OTC) availability for nasal spray products has played a significant role in boosting market growth. Making nasal sprays accessible without the need for a prescription, has increased convenience for consumers, allowing them to purchase these products easily from pharmacies or retail outlets. This easy accessibility has widened the consumer base, leading to increased usage and driving market growth for nasal spray products in the treatment of nasal congestion and related conditions.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Decongestion Nasal Spray, Steroid Nasal Spray, Salt Water Solution/Saline Nasal Spray, and Others), Container Design (Pump Bottles and Pressurized Canisters), Dosage Form (Multi Dose, Unit/Single Dose, and Bi Dose), Therapeutic Class (Antihistamine, Nasal Steroid, Mast Cell Inhibitor, and Anticholinergic), Application (Nasal Congestion, Allergic and Non-Allergic Rhinitis, Central Nervous System Disorders, Vaccination, and Others), Prescription/Availability (Over The Counter and Prescribed), End User (Home Care Settings, Hospitals, Clinics, and Community Health Care)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

EMERGENT (U.S.), Cipla Inc. (India), Sandoz International GmbH (A Part of Novartis) (Switzerland), Aytu Health (A subsidiary of Aytu BioPharma, Inc.) (U.S.), Bayer AG (Germany), GlaxoSmithKline plc. (U.K.), Assertio Therapeutics, Inc. (U.S.), Aurena Laboratories (Sweden), J Pharmaceuticals (U.S.), St. Renatus (U.S.), Ultratech India Limited (India), Catalent, Inc. (U.S.), Teva Pharmaceuticals USA, Inc. (Israel), Pfizer Inc. (U.S.), Viatris Inc. (U.S.), LEEFORD HEALTHCARE LTD (India), Aishwarya Group (India) among others

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Segment Analysis:

The nasal spray market is segmented on the basis of product type, container design, dosage form, therapeutic class, application, prescription/ availability, and end user

  • On the basis of product type, the nasal spray market is segmented into decongestion nasal spray, steroid nasal spray, salt water solution/saline nasal spray, and others. The decongestion nasal spray segment is expected to dominate the global nasal spray market with 47.3% market share owing to its capability to instantly relieve nasal congestion brought on by allergies, colds, or sinus problems. It is a popular option for people looking for quick and targeted relief from nasal congestion due to its fast-acting nature and targeted application in the forecast period of 2023 to 2030.

In 2023, the decongestion nasal spray segment is expected to dominate the global nasal spray market

In 2023, the decongestion nasal spray segment is expected to dominate the global nasal spray market with 47.3% market share owing to its effectiveness in providing immediate relief from nasal congestion caused by allergies, colds, or sinus issues. Its fast-acting nature and targeted application make it a popular choice for individuals seeking quick and targeted relief from nasal congestion in the forecast period of 2023 to 2030.

  • On the basis of container design, the nasal spray market is segmented into pump bottles and pressurized canisters. The pump bottles segment is expected to dominate the global nasal spray market with 67.3% market share due to their convenience and ease of use. The pump mechanism allows for controlled and precise dispensing of the nasal spray, ensuring accurate dosing and minimizing waste in the forecast period of 2023 to 2030.
  • On the basis of dosage form, the nasal spray market is segmented into multi dose, unit/single dose, and bi dose. Multi dose segment is expected to dominate the dosage form segment of the global nasal spray market with 46.7% market share owing to convenience, cost-effectiveness, and improved medication adherence. They allow for multiple doses to be dispensed from a single container, ensuring prolonged therapy and ease of use for patients.

In 2023, Multi dose segment is expected to dominate the dosage form segment of the global nasal spray market

In 2023, Multi dose segment is expected to dominate the dosage form segment of the global nasal spray market owing to improved medication adherence, cost-effectiveness, and convenience. They ensure prolonged therapy and patient convenience by enabling multiple doses to be dispensed from a single container with 46.7% market share in the forecast period of 2023 to 2030.

  • On the basis of therapeutic class, the nasal spray market is segmented into antihistamine, nasal steroid, mast cell inhibitor, and anticholinergic. The antihistamine segment is expected to dominate the global nasal spray market with 48.8% market share due to itching, and nasal congestion. Antihistamines work by blocking the action of histamine, a chemical released during allergic reactions, providing significant relief to individuals with allergic conditions in the forecast period of 2023 to 2030.
  • On the basis of application, the nasal spray market is segmented into nasal congestion, allergic and non-allergic rhinitis, central nervous system disorders, vaccination, and others. The nasal congestion segment is expected to dominate the global nasal spray market with 40.0% market share due to the widespread prevalence of nasal congestion caused by allergies, colds, sinusitis, and other respiratory conditions. Nasal sprays targeting congestion offer quick relief and improved breathing, making them highly sought after by consumers in the forecast period of 2023 to 2030.
  • On the basis of prescription/availability, the nasal spray market is segmented into over the counter and prescribed. The prescribed segment is expected to dominate the global nasal spray market with 72.0% market share due to the regulatory requirements for obtaining topical corticosteroids. Prescription-based distribution ensures proper evaluation, diagnosis, and personalized treatment plans by healthcare professionals, ensuring safety and efficacy in patient care in the forecast period of 2023 to 2030.
  • On the basis of end user, the nasal spray market is segmented into home care settings, hospitals, clinics, and community health care. the home care settings segment is expected to dominate the global nasal spray market with 45.4% market share due to the growing trend of self-care and the convenience of administering topical corticosteroids at home for various skin conditions, providing comfort and ease for patients in the forecast period of 2023 to 2030.

Major Players

Data Bridge Market Research recognizes the following companies as the major nasal spray market players in nasal spray market are Bayer AG (Germany), GlaxoSmithKline plc. (U.K.), Assertio Therapeutics, Inc. (U.S.), Aurena Laboratories (Sweden), J Pharmaceuticals (U.S.), St. Renatus (U.S.)

Nasal Spray Market

Market Development

  • In 2023, Viatris Inc. (NASDAQ: VTRS), a global healthcare company, today announced that it has closed its acquisitions of Oyster Point Pharma and Famy Life Sciences to establish a new Viatris Eye Care Division.
  • In 2023, Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd, announced the launch of additional strengths for the generic version of Revlimid1 (lenalidomide capsules), in 2.5 mg, and 20 mg strengths, in the U.S. This product launch would help the company in its product portfolio expansion.

Regional Analysis

Geographically, the countries covered in the nasal spray market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in nasal spray market during the forecast period 2023-2030

North America's dominance in the global nasal spray market is attributed to the region's increasing investment in nasal spray products, fostering market growth. The United States, in particular, leads the North American market due to the strong presence of key players and their extensive distribution networks. The robust investment in research and development, coupled with favorable regulatory frameworks, allows for continuous innovation and product advancements, solidifying the U.S.'s position as a dominant player in the nasal spray market.

Europe is estimated to be the fastest growing region in nasal spray market the forecast period 2023-2030

Germany holds a dominant position in the Europe nasal spray market due to several factors. The country benefits from the increasing demand for nasal spray products in emerging markets across Europe. Additionally, German manufacturers have a strong presence and extensive distribution networks, allowing them to meet the growing market demand effectively. The expansion of healthcare infrastructure and favorable regulatory policies further support the growth of the nasal spray market in Germany, solidifying its dominance in the region.

For more detailed information about the nasal spray market report, click here – https://www.databridgemarketresearch.com/reports/global-nasal-spray-market


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