The U.S. Nasal Spray Market is estimated to be valued at US$ 5.8 billion in 2023 and is expected to exhibit a CAGR of 7.5%
Nasal sprays are used for relieving symptoms associated with allergies such as nasal congestion, sneezing, runny nose and itchy throat and eyes. The availability of over-the-counter nasal sprays containing decongestants provide quick relief from seasonal allergies and nasal congestion.
The U.S. Nasal Spray Market is estimated to be valued at US$ 5.8 billion in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing allergies is one of the major trends accelerating the growth of the U.S. nasal spray market during the forecast period. According to the American Academy of Allergy Asthma & Immunology, more than 50 million Americans have experienced various types of allergies in 2015. Seasonal allergies or hay fever affected approximately 19 million Americans in 2015. The availability of over-the-counter nasal sprays and increasing awareness about the availability of nasal sprays containing decongestants provide quick and easy relief from symptoms of congestion arising due to allergies. Hence, the growth in the number of people diagnosed with allergies every year is expected to boost the demand for nasal sprays, thereby driving the market growth over the forecast period.
Segment Analysis
The U.S. nasal spray market is segmented into decongestion nasal spray, corticosteroid nasal spray, saline nasal spray and others. Among them, the decongestion nasal spray segment dominates the market and accounts for over 30% market share in terms of revenue. Decongestion nasal sprays help provide relief from nasal congestion caused by common cold, allergies or sinusitis. The easy availability of popular decongestion spray brands makes this segment popular among U.S. consumers.
Key Takeaways
The U.S. Nasal Spray Market Growth is estimated to be valued at US$ 5.8 billion in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030.
Regional analysis: The South region of the U.S. accounts for the largest market share and is expected to grow at the fastest pace during the forecast period. Higher prevalence of nasal disorders like sinusitis due to warm weather and high pollen count drives the demand for nasal sprays in this region.
Key players: Key players operating in the U.S. Nasal Spray Market are AstraZeneca plc, Pfizer Inc., GlaxoSmithKline plc, Johnson & Johnson, Bayer AG, Becton, Dickinson and Company, SeaSpray, Neil Med Pharmaceuticals, Sun Pharmaceutical Industries Ltd and others. AstraZeneca's Flonase and Rhinocort of AstraZeneca are the leading brands in the corticosteroid nasal spray segment.
Explore more Healthcare related article on this topic: https://www.newsanalyticspro.com/the-growing-u-s-nasal-spray-market-demand-analysis/
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