Pune, India, Aug. 22, 2023 (GLOBE NEWSWIRE) -- Based on a report published by Fortune Business Insights, titled "Nasal Spray Market Size, Share, and Global Trends by Type (Salt Water Solutions, Decongestants, Steroids, Antihistamines), Application (Asthma, Cold, Nasal Allergies), Patient Type (Infant, Pediatric, Adults), End User (Hospitals, Clinics, Ambulatory Surgery Centers, Home Care Settings), and Geography Forecast until 2030," it is anticipated that the market will experience significant growth in the upcoming years, driven by the growing number of FDA approvals for newer products. Fortune Business Insights covers the detailed forecast in a report titled, “Nasal Spray Market Forecast, 2023-2030”
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Key Industry Development:
March 2019: The FDA has granted approval for Spravato (esketamine) nasal spray to treat adult patients with treatment-resistant depression
Key Takeaways:
- As per the FDA, it was estimated that in 2018, around 7.4 million adults in the U.S. were afflicted by treatment-resistant depression.
- The global nasal spray market size is expected to be dominated by North America throughout the forecast period.
Discover the Leading Players Featured in the Report:
ADAPT Pharma, Inc., Egalet Corporation, GlaxoSmithKline plc., ARIUS FORMULATIONS PVT LTD., Renatus, Bayer AG, J Pharmaceuticals, Aurena, Cipla Inc., INNOVUS PHARMACEUTICALS, INC., Sandoz International GmbH, Leeford Healthcare Limited, ALLERGAN, Sunovion Pharmaceuticals Inc., Nephron Pharmaceuticals Corporation, Mylan N.V.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historical Data | 2019-2021 |
| Segments Covered | By Product Type, Application, Patient Type, End User, Geography |
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/nasal-spray-market-100273
Driving factor:
Prevalence of Nasal Congestion and Allergies: Nasal sprays are commonly used to provide relief from conditions like nasal congestion, allergies, sinusitis, and colds. The prevalence of these conditions contributes significantly to the demand for nasal sprays.
Convenience and Non-Invasive Administration: Nasal sprays offer a convenient and non-invasive method of drug delivery. They are easy to use and are often preferred by individuals who dislike taking oral medications or receiving injections.
Rise in Respiratory Disorders: The increasing incidence of respiratory disorders such as asthma, chronic obstructive pulmonary disease (COPD), and allergic rhinitis has driven the demand for nasal sprays that deliver medications directly to the respiratory system.
Growing Awareness of Self-Medication: With growing health awareness and the availability of over-the-counter (OTC) nasal spray options, people are more inclined to self-medicate for common ailments, further boosting market growth.
Segmentation:
| Nasal Spray Market Segmentation | By Type
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By Application
| |
By Patient Type
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By End User
| |
By Geography
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Regional insights:
North America:
North America, particularly the United States, held a significant share of the global Nasal Spray market. This was due to factors like a high prevalence of allergies, respiratory disorders, and a well-developed healthcare system.
Europe:
Europe also had a substantial share in the Nasal Spray market. Countries with a higher prevalence of respiratory disorders, such as the United Kingdom, Germany, and France, contributed to the market's growth.
Asia-Pacific:
The Asia-Pacific region exhibited rapid growth in the Nasal Spray market due to factors like a large population, increasing healthcare awareness, and rising disposable incomes in certain countries.
Middle East and Africa:
The Nasal Spray market in the Middle East and Africa was influenced by a combination of factors including urbanization, healthcare access, prevalence of respiratory diseases, and economic conditions.
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Competitive Landscape
Large pharmaceutical companies like GlaxoSmithKline, ADAPT Pharma, Egalet Corporation, and INNOVUS PHARMACEUTICALS had a significant presence in the Nasal Spray market. These companies often had diverse portfolios of nasal spray products targeting various therapeutic areas, including allergies, congestion, and respiratory disorders.
FAQs
What are the key trends in the nasal spray market report?
The growth of the global nasal spray market is primarily being propelled by increasing infections and allergic conditions.
Which are the top companies hold the market share in nasal spray market?
ADAPT Pharma, Inc., Egalet Corporation, GlaxoSmithKline plc., ARIUS FORMULATIONS PVT LTD., Renatus, Bayer AG, J Pharmaceuticals, and Aurena are among the prominent companies operating in the global nasal spray market.
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