Global Nasal Spray Market | Growth, Analysis, Trends

1
The Global Nasal Spray Market is Expected to Gain
CAGR of 8.47 by 2028

• Triton Market Research presents the Global Nasal
  Spray Market segmented by Prescription
  (Prescribed, Over-the-Counter), Application
  (Allergic and Non-Allergic Rhinitis, CNS
  Disorders, Nasal Congestion, Vaccination, Other
  Applications), Type (Steroid Nasal Spray,
  Saltwater Solution/ Saline Nasal Spray,
  Decongestion Nasal Spray), End-user (Pharmacy,
  Home Care Setting, Hospital, ASC/Clinics, Other
  End- users), Therapeutic (Anticholinergic,
  Antihistamine, Mast Cell Inhibitor, Nasal
  Steroids), and Geography (North America,
  Asia-Pacific, Middle East and Africa, Europe,
  Latin America). It further discusses the Market
  Summary, Industry Outlook, Impact of COVID-19,
  Key Insights, Porters Five Forces Analysis,
  Market Attractiveness Index, Vendor Scorecard,
  Key Market Strategies, Drivers, Challenges,
  Opportunities, Competitive Landscape, Research
  Methodology Scope, Global Market Size,
  Forecasts Analysis (2021-2028).
• Based on Tritons research report, the global
  market for nasal spray is anticipated to witness
  growth at a CAGR of 8.47 over the forecasting
  years 2021-2028.

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mple Nasal sprays help treat several
conditions, such as lung diseases, congestion,
sinus infections, asthma, and COPD, among others.
2
Globally, depression is among the prevalent
conditions generally associated with suicide. In
this regard, Esketamine has been used to treat
depression for several years. Later, a more
potent version of ketamine gained FDA approval to
be used as a nasal spray for individuals with
treatment-resistant depression. Thus, the use of
nasal sprays to treat depression creates new
opportunities for the nasal spray market.
However, complications arising due to excess use
of nasal sprays hampers the overall development
of the studied market. The Asia-Pacific is
anticipated to become the fastest-growing region
in the nasal spray market over the projected
phase. Aeroallergen exposure poses a high risk to
the severity of the atopic condition,
specifically in the pediatric population.
Moreover, allergic diseases have surged
significantly across the region, mainly owing to
urbanization and environmental pollution.
Besides, the most prevalent causes of respiratory
morbidity include smoking and air pollution. This
rise in conditions increases the need for nasal
sprays for various treatments, which will widen
the nasal spray markets scope over the forecast
period. The companies thriving in the nasal spray
market are Proctor and Gamble Co, Sun
Pharmaceuticals Industries Ltd, Johnson and
Johnson, Akorn, Teva Pharmaceutical Industries
Ltd, Allergan, Apotex Inc, Pfizer Inc, Catalent
Inc, Sanotize Research and Development, Viatris,
Bharat Biotech, Cipla Limited, Novartis
International AG, and GlaxoSmithKline. Several
prominent companies like Pfizer, Allergan, and
Proctor and Gamble are dominating the nasal spray
market. High investments in RD and manufacturing
plants are crucial for producing a larger
portfolio and catering to consumers. This
restricts the entry of new players, resulting in
the threat of new entrants being moderate.
Further, the companies with larger product
portfolios are spending significantly to expand
their facilities, amplifying the competition. For
instance, recently, Merck invested over 29.42
million to expand its production facilities in
Europe. Other than this, several companies offer
unique products, capturing a major share in
specific target products. Hence, the competition
levels among existing players are likely to be
high.
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