PUBLISHER: Allied Market Research | PRODUCT CODE: 1298255
PUBLISHER: Allied Market Research | PRODUCT CODE: 1298255
The nasal spray market valued for $9,212.12 million in 2021 and is estimated to reach $16,855.69 million by 2031, exhibiting a CAGR of 6.2% from 2022 to 2031.
Nasal sprays are useful for treating nasal allergies, clogged noses, and for effectively delivering allergy medications. Nasal allergies can lead to illnesses including fever, coughing, bad breath, and postnasal drips. Nasal sprays provide various benefits, including effective and painless drug administration, improved patient convenience, and widespread availability. Nasal sprays also function as an alternative to pills and allow for needle-free drug administration. The optimal route is thought to be nasal. After all, the fast and direct administration of the drug through the nose has a significant impact on the patient's respiratory system.
It is estimated that nasal spray market is expected to experience significant market growth during the forecast period owing to the increasing geriatric population suffering from various respiratory disorder, the launch of innovative technologies, a boost in healthcare expenditure, and higher government support. In addition, increase in investment by players in R&D and presence of robust pipeline candidates and rise in expenditure on the development of healthcare infrastructure which further facilitate the growth of the market. However, strict, and extended product approval processes are expected to impede the market growth. In contrast, surge in healthcare investments in public as well as private sectors are anticipated to provide significant growth opportunities for the nasal spray market.
The nasal spray market is segmented based on type, application, distribution channel, and region. Depending on type, the market is classified into steroids, antihistamine, saline solutions, decongestants, and others. Based on application, the market is categorized into allergy rhinitis, sinusitis, nasal polyps, and others. Depending on distribution channel, the market is segregated into hospital pharmacies, drug stores & retail pharmacies, and online providers.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The report provides a comprehensive analysis of the key players that operate in the global nasal spray market. The key companies profiled in the report include Apotex Inc., Aurena Laboratories, Bayer AG, Cipla Ltd, GlaxoSmithKline plc, Leeford Healthcare Limited, Novartis AG, Sunovion Pharmaceuticals Inc., Sun Pharmaceutical Industries Ltd, and Viatris Inc.