Nasal Spray Vaccine Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

The demand for Nasal Spray Vaccine is witnessing an uptick on account of chronic diseases and rising number of pandemics. The Nasal Spray Vaccine market is expected to grow with a significant CAGR in the coming years. Chronic Diseases are on the rise since 1995. Additionally, the growing geriatric population is also increasing the prevalence of chronic diseases which is further increasing a need for medications to control and make it easier to manage these diseases. Nasal Spray Vaccines can do that as they are easy to administer and can be handled easily by the patients in a home setting. Due to this the number of hospital visits per patient can decrease significantly and this is bound to make them a good investment for the patients. This is expected to grow the Nasal Spray Vaccines Market in the coming days as more R&D and better vaccinations come out.

Key reason for the growth of nasal spray vaccines is their emergence during the covid-19 pandemic, which lead to their acceptance. Additionally, their ease of administration and their increasing use is driving the global market. Furthermore, the application of nasal sprays in the treatment of depression is creating numerous opportunities for the nasal spray vaccines market. Globally the manufacturers of vaccine packaging products have come up with nasal spray for the shortage and transportation of different types of drugs and vaccines. The worldwide acceptance of various over the counter drugs and ophthalmic antibiotics is increasing the market popularity of nasal spray as a preferred packaging for other medicinal drugs too. Demand for vaccine nasal spray has witnessed a sharp rise in recent years, due to increased healthcare facilities, clinics and household end uses of these vaccine nasal sprays, producers engaged making these sprays are expanding their production facilities to meet the rising demand across the globe.

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All COVID-19 vaccines now in use are injected into muscle, producing antibodies that circulate in the blood but aren’t necessarily present in the nose and nasal passages, suggesting that vaccinated individuals could still become infected and transmit the virus. Previous studies in rhesus monkeys showed that the Oxford/AstraZeneca vaccine, which isn’t authorized for use in the US, protected against pneumonia but did not reduce shedding from their upper respiratory tract. The authors of the new study first compared the injected and the intranasal vaccines in hamsters. Both routes of administration produced high antibody levels, but the nasal spray outperformed the injection. Due to this research on Nasal Vaccines has increased significantly during the pandemic and is also increasing the popularity of these vaccines. Thus, the Nasal Spray Vaccine market has only grown because of the Covid-19 pandemic.

According to ‘UnivDatos Market Insights (UMI)’ research report “Nasal Spray Vaccine Market Analysis, 2020”, the Nasal Spray Vaccine market is projected to grow at a CAGR of ~8% during 2021-27F. Increasing aging population is one of the prominent reasons which is driving the market of the Nasal Spray Vaccine. For Instance: the global population aged 80 years or over is projected to triple between 2017 and 2050, increasing from 137 million to 425 million.

Based on the Type, the market is fragmented into Decongestion Nasal Spray, Steroid Nasal Spray, and Saltwater Solution/Saline Nasal Spray. Decongestion Nasal Spray segment accounted for the largest share in 2020 and is anticipated to register a lucrative CAGR during the forecast period. Decongestion Nasal Spray is used for temporary relief of congestion in the nose caused by various conditions including the common cold, sinusitis, hay fever, and allergies. It works by narrowing the blood vessels in the nose area, reducing swelling and congestion. Oxymetazoline comes as a solution (liquid) to spray into the nose. It is usually used every 10 to 12 hours as needed, but not more often than twice in a 24-hour period.

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Prescribed Segment to Witness Robust growth

Based on Prescription, the market is fragmented into Over-The-Counter and Prescribed. Prescribed Segment had the highest revenue and CAGR growth in the analyzed period. The vaccine has been prescribed for Covid-19 to many patients and shown many positive effects. Additionally, the nasal vaccine for flu is also on trial and may be a hit when it comes out. 

Based on the Type pf of Therapeutics, the market is fragmented into Antihistamine, Nasal Steroids, Anticholinergic, Mast Cell Inhibitor. Antihistamine segment accounted for the largest share in 2020 and is anticipated to register a lucrative CAGR during the forecast period. Antihistamine sprays relieve congestion, itchy and runny nose, and sneezing. They are available by prescription and include azelastine (Astelin, Astepro) and olopatadine (Patanase).

Home Care Setting Segment to Witness Robust growth

Based on End-User, the market is fragmented into Hospital, ASC, Home Care Setting, and Clinics and others. Home Care Setting Segment had the highest revenue and CAGR growth in the analyzed period. Nasal Vaccines are very safe with minimal side effects and thus can be administered safely at home. In fact, nasal vaccines are actually more beneficial than the traditional vaccines because a vaccine delivered into the nose could create mucosal immunity, or immune cells present in the tissues of the airway.

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North America to Grab Lion’s Share, and witnessed Explicit Growth

Based on the Region, North America dominated the Nasal Spray Vaccine market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to increased number of chronic diseases and aging population. For example, In 2018, 51.8% of US adults had at least 1 chronic condition, and 27.2% had multiple chronic conditions. North America is expected to skyrocket with a CAGR of X% in the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Nasal Spray Vaccine Market Analysis, 2020”. 

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Akorn, Allergan, Apotex Inc., Bharat Biotech, Catalent Inc., Cipla Limited, GlaxoSmithKline, Johnson and Johnson, Novartis International AG, and Pfizer Inc. among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.

“Nasal Spray Vaccine Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Nasal Spray Vaccine providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1. By Type (Decongestion Nasal Spray, Steroid Nasal Spray, Saltwater Solution/Saline Nasal Spray)
2. By Prescription (Over-The-Counter, Prescribed)
3. By Type of Therapeutics (Antihistamine, Nasal Steroids, Anticholinergic, Mast Cell Inhibitor)
4. By End-User (Hospital, Home Care Setting, ASC, Clinics and others)
5. By Region (North America, Europe, Asia-Pacific, Rest of World)
6. By Company (Akorn, Allergan, Apotex Inc., Bharat Biotech, Catalent Inc., Cipla Limited, GlaxoSmithKline, Johnson and Johnson, Novartis International AG, Pfizer Inc., etc.)

Key questions answered in the study:

1. What are the current and future trends of the Nasal Spray Vaccine industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Nasal Spray Vaccine industry?
5. What is the customer orientation, purchase behavior, and expectations from the Nasal Spray Vaccine firms across various regions?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS (INDUSTRY AT A GLANCE)

4 EXECUTIVE SUMMARY

5 NASAL SPRAY VACCINE MARKET COVID-19 IMPACT

6 NASAL SPRAY VACCINE MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY TYPE

8 MARKET INSIGHTS BY PRESCRIPTION

9 MARKET INSIGHTS BY TYPE OF THERAPEUTICS

10 MARKET INSIGHTS BY END-USER

11 MARKET INSIGHTS BY REGION

12 NASAL SPRAY VACCINE MARKET DYNAMICS

13 NASAL SPRAY VACCINE MARKET OPPORTUNITIES

14 NASAL SPRAY VACCINE MARKET TRENDS

15 LEGAL AND REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY SIDE ANALYSIS

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

19 COMPANY PROFILED

20 DISCLAIMER

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