Size of the non-steroidal nasal spray market worth US$14.9 billion by 2032 at a CAGR of 6.3% – Report by Future Market Insights, Inc.

In 2021, North America is expected to account for the highest share of 35.6% of the global steroid-free nasal spray market, with the US, Canada, and Mexico markets leading this growth forecast. Demand for antihistamine nasal sprays is expected to grow at a CAGR of 5.9% through 2032, fueled by an increasing number of people with allergies and sore throats each year.

/EIN News/ — NEWARK, Del, 06 Jul. 2022 (GLOBE NEWSWIRE) — Steroid-free nasal sprays are drugs that are delivered directly to the nasal cavities bypassing first-pass metabolism and also offer better bioavailability. It includes antihistamine nasal sprays, decongestant nasal sprays, anticholinergic nasal sprays, and cromolyn sodium nasal sprays.

According to the latest industry analysis from Future Market Insights, the global non-steroidal nasal spray market was valued at over US$7.75 billion in 2021 and is expected to grow at a CAGR of 6.3% during the period. forecast, pushing the market size to US$. 14.9 billion by 2032.

There is a subsequent increase in the prevalence of allergic rhinitis worldwide due to several risk factors including urbanization and environmental pollutants. According to a recent study conducted in 2022, allergic rhinitis affects approximately 25-40% of the world’s population. It also states that approximately 80% of allergic rhinitis symptoms develop before the age of 20.

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Recently, there has been an increasing focus on mental illnesses due to the significant increase in cases of major depressive disorders. Of these, depression is a common mental disorder. According to the WHO, approximately 280 million people of all ages suffer from depression.

Due to the increase in side effects of depression, manufacturers in the steroid free nasal spray market are focusing on introducing products that can be used for the treatment of these disorders in the most effective way.

Additionally, an increased number of regulatory approvals has been witnessed in the steroid-free nasal spray market, which is propelling the launch of innovative products. Hence, the manufacturers in the market are focusing on getting the regulatory approvals to improve the sales in the market.

“The increasing availability of generic nasal sprays, along with increased manufacturer promotional activity on online channels, will drive sales of non-steroidal nasal sprays over the assessment period,” IMF analyst says.

Key points to remember:

  • Based on product type, sales of antihistamine nasal sprays will grow at a CAGR of 5.9% through 2032.
  • The aqueous formulations segment dominated the steroid-free nasal spray market with a share of approximately 55.4% in 2021.
  • In terms of distribution channels, demand in the institutional segment will grow at a CAGR of 6% through 2032.
  • North America accounted for the highest share of 35.6% of the global non-steroidal nasal sprays market share in 2021.

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Competition Landscape

Prominent players operating in the global non-steroidal nasal sprays market are focused on developing, launching and approving innovative products to enhance their product portfolios. For instance:

  • In February 2022, Glenmark Pharmaceuticals Limited and SaNOtize Research & Development Corp. announced the launch of FabiSpray, the nitric oxide nasal spray for the treatment of COVID-19 in India.
  • In March 2021, Cipla Limited announced that it had received final FDA approval for its Abbreviated New Drug Application (ANDA) for Sumatriptan nasal spray, 20mg, which is an AB-rated generic therapeutic equivalent version of the spray. GlaxoSmithKline Imitrex Nasal.

What does the report cover?

Future Market Insights offers a unique perspective and actionable insights on the Steroid-Free Nasal Sprays Market in its latest study, presenting a historical demand assessment from 2017-2021 and projections for 2022-2032. Steroids is segmented in detail to cover all market aspects and present a comprehensive market intelligence approach to the reader.

The Non-Steroid Nasal Sprays Market is segmented into three parts based on Product (Antihistamine Nasal Sprays, Nasal Decongestant Sprays, Anticholinergic Nasal Sprays, Cromolyn Sodium Nasal Sprays and Others), Formulation (Aqueous, Suspension, Non-Aqueous Based Solution , hydroalcoholic solution , emulsions and dry powder/microparticles) and distribution channel – (institutional sales {hospitals, specialty clinics, community clinics, public health agencies and others}, retail sales {retail pharmacy, pharmacies, retail pharmacy by correspondence}), across seven key regions of the world.

Non-Steroidal Nasal Spray Market by Category

By product:

  • Antihistamine nasal sprays
  • Nasal decongestant sprays
  • Anticholinergic nasal sprays
  • Cromolyn sodium nasal sprays
  • Others

By Formulation:

  • Aqueous
  • Suspension
  • Non-aqueous solution
  • Hydroalcoholic
  • Emulsions
  • Dry powder/microparticles

By distribution channel:

  • Institutional sales
    • Hospitals
    • Specialized clinics
    • Community clinics
    • Public health agencies
    • Others
  • Retail sales
    • Retail pharmacy
    • Pharmacies
    • Mail-order pharmacy

By region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa (MEA)

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Future Market Insights helps businesses, governments, investors, and related audiences in the healthcare sector identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technological evolution, and other issues crucial to achieving lasting success. Our unique approach to gathering market intelligence enables you to design innovation-driven trajectories for your business. Learn more about our industry coverage here.

Contents

1. Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply-side trends

1.4. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

2.3. Inclusions and exclusions

3. Key Market Trends

3.1. Key trends impacting the market

3.2. Product Innovation / Development Trends

4. Key success factors

To be continued…!

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