Patients suffering from diseases such as allergic and non-allergic rhinitis, CNS disorders, etc. incline towards the adoption of nasal sprays as these pose certain advantages over other forms of drug delivery systems. Some of these advantages are good patient compliance, convenience, controlled delivery, and others. The global nasal spray devices market deals with the adoption of such devices that are used for the purpose of delivering drugs through the nose. They contain therapeutically active ingredients in the form of a solution, suspension and others.
The global nasal spray devices market is expected to generate revenue of $24,264 million by 2027 and is estimated to grow at a CAGR of 6.78% between 2019 and 2027.
Market Insights
The prevalence of chronic obstructive pulmonary diseases (COPD) among respiratory disease can be observed by the growing number of patients with breathing difficulties.Hence, the increasing prevalence of respiratory diseases worldwide is creating lucrative adoption base for nasal spray devices, thereby fueling the market growth.
The rising adoption of generics drugs due to their lower prescription costs is also a major influencing factor for market growth in the global arena.
The severe regulations are hindering the nasal spray devices market. The various incidences of product recall reported by FDA or companies itself act as a restraining factor for global nasal spray devices market over the forecast period.
Regional Insights
The global nasal spray devices market has been geographically segmented by four major regions, which include North America, Europe, Asia Pacific and the Rest of World.
The nasal spray devices market in North America will be dominating the global market with respect to the share by 2027 since there are possibilities of increased numbers of government investments in developing nasal spray products along with the high incidence of asthma and other respiratory diseases.
Competitive Analysis
GlaxoSmithKline, Cipla, Adapt Pharma, Inc. (acquired by Emergent BioSolutions), Sun Pharmaceuticals Industries, Ltd., Mylan NV, Pfizer, Inc., Beximco Pharmaceuticals, Apotex, Merck & Co., Inc., Sanofi-Aventis S.A., Becton Dickinson and Company, Sandoz International GmbH (subsidiary of Novartis AG), Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC and Allergan Inc.
