Inhalation and Nasal Sprays Market Size Analysis, DROT, PEST, Porter, Region and Country Forecast by 2027
The growth of the market is attributed to the rising prevalence of COPD and asthma globally and the low cost of purchasing generic drugs.
VANCOUVER, BC, USA, April 19, 2022 /EINPresswire.com/ — The global inhalation and nasal spray market will be worth $44.36 billion by 2027, according to current analysis by ‘Emergen Research. An increasing number of patients are suffering from COPD and asthma, which is why the sales figures of generic nasal sprays and inhalers are likely to increase on schedule. Consumers prefer the nasal route as an alternative to injections or pills. Nasal sprays are mainly used to treat local health issues like rhinitis and nasal congestion.
Moreover, it is also used to treat sneezing, runny nose, stuffy or restless nose, watery eyes caused by allergic rhinitis or different allergies, making it a go-to option for consumer self-help. . Nasal sprays are available as prescription drugs as well as over-the-counter, which makes them easily available and hence does not hamper the growth of the market. Moreover, the high costs associated with healthcare, mainly in developed countries, are attracting the attention of patients towards generic drugs, thus contributing to the expansion of the market for inhalants and nasal sprays.
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The report studies factors influencing industry growth in the global Inhalation and Nasal Spray Market and offers pin-point predictions on the growth pattern. The report pays close attention to key elements of the Inhalation and Nasal Spray market such as drivers, restraints, opportunities, threats, risks, limitations, and other aspects. The report covers a comprehensive analysis of the competitive landscape with detailed analysis of company profiles, product portfolio, and business expansion strategies.
The main participants are Nephron Pharmaceuticals Corporation, Allergan plc, Roxane Laboratories, Inc., Ranbaxy Laboratories Ltd. and Beximco Pharmaceuticals. among others.
In September 2020, Marinomed Biotech, an Austria-based respiratory and ophthalmology organization, received approval for Carragelose, a first-of-its-kind OTC drug. It contains the decongestant xylometazoline which helps reduce swelling of the mucous membranes, making it easier to breathe.
Most generic drugs have been approved by the United States Food and Drug Administration. Indeed, they have passed all the rigid standards as a potentially effective medicine labeled at very affordable prices. When a brand name drug’s patent expires, generic drug manufacturers compete to provide lower-cost generic versions.
The principle behind these low cost generic inhaler and nasal spray drugs is that no investment in R&D, marketing, promotion and advertising is involved in the production of generic drugs. Additionally, a wide variety of generic drug manufacturers have approvals to market and sell a particular product.
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North America dominated the inhalers and nasal sprays market in 2019 and is expected to maintain its dominance throughout the forecast period. This can be attributed to the increased prevalence of COPD and other respiratory disorders. Moreover, the increasing number of awareness programs launched by various governments in the analyzed regions regarding the provision of generic inhalant drugs is expected to positively affect the growth of the market.
For the purposes of this report, Emergen Research has segmented the global inhaler and nasal spray market based on drug type, application and region:
Drug Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Chronic Obstructive Pulmonary Disease (COPD)
The latest research report includes an in-depth analysis of current growth opportunities for various regions in the Energy as a Service market, assessing their revenue share over the forecast period. Additionally, the report analyzes the year-on-year growth rate of these regions over the forecast span. Major market regions profiled in the report are North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
The report offers a comprehensive understanding of the impact of the COVID-19 pandemic on the overall market growth and expansion. COVID-19 has affected the global economy by interfering with production and demand, causing market disruptions and inducing financial instability.
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Inhalation and Nasal Spray Market Highlights:
Extensive coverage of the Inhalation and Nasal Spray market analysis
Key information on the regional breakdown of the industry in key geographies
Sweeping insights into vital market trends; current and emerging trends, and factors influencing market growth
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall Inhalation and Nasal Spray Market Growth
Comprehensive data on major manufacturers and vendors of Inhalation and Nasal Spray Market
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