Largest Segment Driving Growth Of U.S. Nasal Spray Market |...

Largest Segment Driving Growth Of U.S. Nasal Spray Market

Veröffentlicht 2023-11-23 13:08:07

The global U.S. Nasal Spray Market is estimated to be valued at US$ 9903.35 Mn or Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis:

· Strength: Wide range of product offerings with innovative formulations and delivery systems

· Weakness: Potential side effects associated with long term use of nasal sprays

· Opportunity: Expanding respiratory disorders patient pool and shift towards over-the-counter medications

· Threats: Intense competition from generic drug manufacturers and alternative treatment options

Key Takeaways:

The U.S. Nasal Spray Market Size was valued at US$ 9903.35 Mn in 2023 and is expected to reach over US$ 16,598.74 Mn by 2030, expanding at a CAGR of 6.8% during the forecast period. Surging cases of allergies among the American population coupled with high adoption of nasal sprays as a convenient treatment option for immediate relief of nasal congestion is anticipated to drive the market.

Regional analysis: The Western and Midwestern regions collectively account for over 60% of the overall U.S market due to high prevalence of indoor & outdoor allergens and damp weather conditions. California represents the fastest growing market, expanding at a CAGR of around 8% between 2023-2030.

Key players operating in the U.S. Nasal Spray Market are GlaxoSmithKline plc, Sanofi S.A., Bayer AG, Merck & Co., Inc., Novartis AG, Johnson & Johnson Services, Inc., Pfizer Inc., Procter & Gamble, AstraZeneca Plc., NeilMed Pharmaceuticals Inc., Church & Dwight Co., Inc., and Neurelis, Inc. GlaxoSmithKline and Sanofi collectively hold over 35% of the market share.