2020-2027 Analysis and Review Corticosteroid Nasal Sprays Market

Corticosteroid Nasal Sprays Market

Corticosteroid Nasal Sprays Market By Drug Class (Fluticasone, Budesonide, Triamcinolone and Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2027

26-02-2020 REP-HC-5040 40 Tables 114 pages Format

The corticosteroid nasal sprays market was valued at USD5,583.1 Mn by 2019.As per the statistics brought forward by the American Academy of Allergy Asthma and Immunology (AAAAI) approximately 10% to 30% of the global population suffers from allergic rhinitis. Furthermore, a significant rise in the patients suffering from nasal polyps and rhinosinusitis infection consolidates the corticosteroids nasal sprays market. The major hurdle associated with the market is the competition imposed by the antihistaminic nasal sprays for treating upper respiratory tract infection.

 Corticosteroid Nasal Sprays Market

Corticosteroid nasal sprays are available in the market by physician’s prescription from the last 3 decades and after several clinical trials studies and investigation over the years, significant technological advancement has been imparted to its drug dosage and formulation to render it safe for its therapeutic use. The nasal sprays usually take few weeks before giving symptomatic relief, it is important to understand that although OTC products are available it is safe to take corticosteroid nasal sprays after physicians' recommendation to negate the occurrence of any side effects.

The major segments related to the corticosteroid nasal sprays market are:

By Drug Class (2017–2027; US$ Mn)

Fluticasone

Budesonide

Triamcinolone

Others

By Distribution Channel (2017–2027; US$ Mn)

Hospital Pharmacy

Retail Pharmacy

Others

Geography Segment (2017–2027; US$ Mn)

North America

United States
Canada

Europe

United Kingdom
Germany
Rest of Europe

Asia Pacific

China
Japan
Rest of Asia Pacific

Latin America (LATAM)

Brazil
Mexico
Rest of Latin America

Middle East and Africa (MEA)

GCC
Rest of MEA 

Justification for study?

  • The intention of the study is to give a comprehensive outlook of the global corticosteroid nasal sprays market
  • The overall segmentation of the corticosteroid nasal sprays market, by drug class, distribution channel, and geography is minutely studied. Budesonide and hospital pharmacy are dominating the drug class and distribution channel segments respectively
  • Significant rise in the upper respiratory tract infection such as rhinitis, nasal congestion, etc. primarily determines its market growth
  • The therapeutic efficacy of corticosteroid nasal sprays in the treatment of nasal discomfort associated with nasal polyps further propels its market growth

 Report gist?

  • The study of the global corticosteroid nasal sprays market includes qualitative analysis of factors such as drivers, restraints, and opportunities
  • The report covers qualitative and quantitative analysis of the overall market segmented on the basis of drug class and distribution channel and categorization of the same at the geography level
  • This research report presents the analysis of each segment from 2017 to 2027 in which 2019 is considered as the base year. Compounded annual growth rate is calculated for the respective segments from 2020 to 2027
  • The study includes the profiles of major market players with a significant global and regional presence along with top company positioning

Significant customers?

  • This study is suitable for industry participants and stakeholders in the pharmaceutical companies engaged in manufacturing and marketing of corticosteroid nasal sprays which is gaining huge demand owing to increasing clinical application in upper respiratory tract infection and nasal polyps
  • The report will benefit physicians engaged in the treatment of allergic rhinitis and rhinosinusitis inflammation
  • Managers with financial institutions looking to publish recent and forecasted statistics pertaining to corticosteroid nasal sprays market
  • Financial institutions venture capitalist, analysts, investors, government organizations, policymakers, regulatory authorities, researchers, looking for insights into the market to determine future strategies

Segment Analysis

Budesonide is reigning the drug class segment for corticosteroid nasal sprays market. It is the corticosteroid nasal spray of the first choice for reducing the inflammation associated with seasonal allergic rhinitis and its aqueous nasal sprays are beneficial in relieving itching and sneezing. Fluticasone is anticipated to register impressive market growth during the forecast period owing to its ability to treat nasal polyps and drastically reduces the inflammation associated with chronic rhinosinusitis. Triamcinolone is frequently prescribed by physicians for treating seasonal flu and allergic rhinitis in children belonging to the age group of 2 to 5 years on account of its safe tolerability index and efficacy in pediatric patients.

Hospital pharmacy is dominating the distribution channel segment for corticosteroid nasal sprays market. The primary attribute responsible for its market dominance is a significant rise in the number of patients visiting hospitals for upper respiratory infection and purchase prescribed medicine from the hospital pharmacy. Retail pharmacy is set to register sturdy market growth in the near future on account of availability of corticosteroid nasal sprays as over the counter products at a discounted price.

North America is dominating the geography segment for corticosteroid nasal sprays market. As per the latest research citings provided by the Center for Disease Control and Prevention (CDC), approximately 28.9 million U.S. adult citizens are suffering from sinusitis infection. Furthermore, the domicile of key manufacturers such as AstraZeneca AB, GlaxoSmithkline, Plc., OptiNose US, Inc., Merck & Co., Inc., further propels the corticosteroid nasal sprays market growth in the region. Europe is currently the second-largest market in the regional segment owing to the rising prevalence of allergic rhinitis infection in the European Union region. As per the statistics provided by the European Academy of Allergy and Clinical Immunology approximately 100 million Europeans suffer from allergic rhinitis infection. Asia Pacific is set to register comfortable market growth in the near future on account of the rising prevalence of seasonal flu infection affecting the upper respiratory tract and the presence of a huge generic market for the corticosteroid nasal sprays in the region.

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