Global Nasal Spray Market Size In India

Global Nasal Spray Market Size In India - This blog covers the global nasal spray market size in India. The Indian healthcare system still has a long way to go and is underdeveloped. The healthcare sector of India is controlled by the government and private players. However, the demand for respiratory products such as nasal sprays, bronchodilators, and many more is increasing by each year. 

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Read in Hindi - भारत में वैश्विक नाक स्प्रे बाजार का आकार

Nasal Spray & its Major Segments

Nasal Sprays are used for the treatment of allergies, colds, sneezing, congestion, and runny nose. But with research and development, the nasal spray can be used for other medical usages. Nasal Sprays are used for delivering medications fast and more effectively. Also, the data suggest that steroid nasal sprays hold the maximum share of the world’s demand. It shares the market of approx. 46%. This is due to the cost-effectiveness and commercialization of steroid nasal sprays across the globe makes them convenient for a large population. 

However, the following is the list of nasal sprays available in the global market-

• Steroid nasal spray - Xylometazoline Hydrochloride Nasal Solution is an example of a steroid nasal spray available on the market. There is a wide range of uses such as allergic rhinitis, sinusitis, hay fever, etc. by reducing inflammation. 
• Saline nasal spray - Sodium Chloride 0.65 w v Saline is the most common saline nasal spray in the market used for treating pollen allergies and it is a non-medicated nasal spray. 
• Topical decongestants - These nasal sprays Oxymetazoline Hydrochloride Nasal Solution 0.25 mg & Xylometazoline Hydrochloride Nasal Solution comes under the category of topical decongestants. It is used for treating allergies, sinus congestion, etc. 

Global Market Of Nasal Spray 

The current value of the global market of nasal spray is approx. USD 22,725.2 million and is expected to reach up to the value of USD 40,150.31 million by the end of 2028. As per the data collected globally, the Asia- Pacific region shows the highest growth in the demand for nasal spray. The market forecast for the global nasal spray market is at a CAGR of 8.5%. 

There are tonnes of opportunities in the nasal spray market. Starting from research and development, the main focus is on improving the overall functionalities, effectiveness, and convenience. Also, nasal spray manufacturing is one of the biggest business opportunities in the Asia-Pacific region. Here, the population is the biggest driving force, and the rising number of cases of allergies, sinusitis, etc. in this region makes the nasal spray market one of the best business opportunities. 

Significant Factors Contributing Towards the Rising Demand For Nasal Spray Products

In Asia- the Pacific region, India, and China are the leading suppliers and consumers of nasal spray products. The nasal spray market in India is about to reach a value of USD 1.65 billion by the end of 2022 and shows a growth rate of over 9.7%. There are different types of factors contributing to the increasing demand for nasal spray in the Indian sub-continent, such as -

1. Increasing cases of patients suffering from infections, allergic rhinitis, and asthma.
2. Change in lifestyle is also an important factor in the rising demand for nasal spray.
3. Rising air pollution levels in some of the major cities including the capital cause a surge in demand for nasal sprays. 
4. Development in the research regarding nasal sprays. 
5. Increasing awareness among the people. 
6. One of the best alternatives for drug delivery.
7. Easy and self-administrative demand is also increasing. 
8. Improved patient compliance 
9. Rising acceptability and effective way of drug delivery. 

As per the data, approx. 30% of the population in India is suffering from at least one allergy. These are most of the reasons or factors that can be applied to the global market driving forces. 

What are the Factors hindering the Increasing Demand for Nasal Spray?

There is a list of some factors that can cause some kind of hindrance in the overall demand for nasal spray global market which includes - 

1. Addiction to nasal sprays is one of the common factors causing less demand for treating allergies, sinus, etc. 
2. The nasal spray provides temporary relief which is its biggest drawback of it. 
3. Most of the nasal sprays have a Pungent smell, not liked by many. 
4. Using a nasal spray can cause continuous Sneezing in many patients. 
5. Nasal spray can lead to Nasal irritation. 
6. Using a nasal spray can cause a Runny nose as well. 
7. Some even witness Bleeding from the nose while using the nasal spray. 

Conclusion

Hope you get all the information regarding the Global Nasal Spray Market Size In India. For any further information regarding nasal spray or any other respiratory products, reach out to Nutra Respiro today!