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Nasal Spray Market Trends

Report ID: GMI5687
Published Date: May 2023
Report Format: PDF

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Nasal Spray Market Trends

Increasing chronic respiratory diseases and nasal disorders will help the global nasal spray market showcase massive progress. It is most commonly used to treat sinusitis, nasal polyps, nasal congestion, and allergic rhinitis. Nasal sprays can be used for sinusitis to reduce inflammation and nasal congestion. Due to advantages like easy and fast administration of drugs, drug delivery to localised parts, non-invasiveness, and patient convenience, the demand for nasal sprays is high. With the increasing prevalence of nasal disorders, significant growth will be witnessed over the forecast period.

Owing to the advantages of nasal spray, pharmaceutical and biotechnology companies have increased their investment in R&D in order to develop new nasal spray products to treat various diseases like coronaviruses or CNS disorders. For instance, in March 2023, Pfizer got approval from the FDA for a Zavzpret which is a nasal spray used for the treatment of migraines. In March 2019, Janssen Pharmaceutical’s Spravato (esketamine) got FDA approval, which is a nasal spray used by adult patients with treatment-resistant depression.

Thus, pharmaceutical companies have increased research activities for the development of new nasal spray products to treat different diseases. The improved healthcare infrastructure, increasing healthcare expenditures, and R&D funding will propel the market landscape.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for nasal spray was more than USD 24 billion in 2022 and will register over 6.5% CAGR between 2023 and 2032, with growing prevalence of chronic respiratory diseases and nasal disorders.

The steroids nasal spray segment value was over USD 7.5 billion in 2022 as they aid in decreasing nasal inflammation, mucus production, and nasal congestion, improving sinus drainage.

Retail pharmacy end-users is anticipated to depict remarkable growth rate from 2023 to 2032, owing to better awareness and utilization of nasal sprays to treat conditions like runny nose, nasal congestion, swelling, and others.

North America nasal spray market accounted for the highest share in 2022, as a result of the increased prevalence of diseases like sinusitis, allergic rhinitis, nasal polyps, cold, and other respiratory diseases in the region.