Nasal Sprays Market | 2020 Industry Analysis By COVID-19 Impact On Healthcare Sector And Business

Report segments information on Global Nasal Sprays Market By Type (Salt Water Solutions, Decongestants, Steroid, Antihistamine), By Application (Asthma, Cold, Nasal Allergies), By Patient Type Infant, Paediatric, Adults), By End User (Hospitals, Clinics, Ambulatory Surgery Centres, Home Care Settings), and Geography Forecast till 2026.

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An Overview of the Impact of COVID-19 on Nasal Sprays Market:

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future. The coronavirus incident has caused major damage to all the industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain.

Global Nasal Sprays Market Analysis 2020:

The global nasal sprays market is slated to witness accelerated growth with increasing regulatory approvals for newer products. According to a report by Fortune Business Insights, titled “Nasal Spray Market Size, Share and Global Trend By Type (Salt Water Solutions, Decongestants, Steroid, Antihistamine), By Application (Asthma, Cold, Nasal Allergies), By Patient Type Infant, Paediatric, Adults), By End User (Hospitals, Clinics, Ambulatory Surgery Centres, Home Care Settings) Geography Forecast till 2026,” the market is likely to surge in the coming years with encouragement from increasing FDA approval of newer products.

FDA Approves Janssen’s nasal spray ‘Spravato’

In March 2019, the US Food and Drug Administration (USFDA) passed a usage approval for “Spravato”. Janssen’s Spravato was a fast processing antidepressant drug. The approval has encouraged Janssen’s counterparts and many have been encouraged to introduce newer products. Spravato was a product with high efficacy and much reduced side effects. The approval for Spravato will have a positive impact on the global market and is likely to favor the growth of the market in the coming years.

Increasing Incidence of Allergic Rhinitis to Lead to Increased Demand

According to the Australian Institute of Health and Welfare, in 2014, around 4.5 million people suffered from allergic rhinitis in Australia. Certain indications of allergic rhinitis such as fever, cold and bad breath can be overcome using nasal sprays. A high prevalence of nasal disorders and allergies is likely to cause an increased adoption of nasal sprays, globally. The increased adoption may have a positive impact on the global market and are likely to favor growth of the market in the coming years. As per a study by the Food and Drug Administration (FDA), in 2018, around 7.4 million adults in the U.S suffer from treatment-resistant depression. Increasing prevalence of this disorder may lead to increased chances of suicidal tendencies and hospitalization. Increasing hospitalization may lead to further demand for nasal sprays and thereby, enable growth of the global nasal sprays market in the forthcoming years. 

Painless drug delivery modes are a major factor that may favor the growth of the global nasal sprays market. Additionally, ease of availability and improved patient convenience are other factors that may boost the market in coming years. Having said that, certain adverse reactions of nasal spray and side effects such as nasal dryness, congestion and inflammation may hamper the growth of the global nasal sprays market in the coming years. 

Some of the leading companies that are present in the global nasal spray market are ADAPT Pharma, Inc., Egalet Corporation, GlaxoSmithKline plc., ARIUS FORMULATIONS PVT LTD., Renatus, Bayer AG, J Pharmaceuticals, Aurena, Cipla Inc., INNOVUS PHARMACEUTICALS, INC., Sandoz International GmbH, Leeford Healthcare Limited, ALLERGAN, Sunovion Pharmaceuticals Inc., Nephron Pharmaceuticals Corporation, Mylan N.V., and others.

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Written by Abhijeet Bendre

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