Medical Nitroglycerin Sprays Market to Witness an Outstanding Growth During 2020 – 2030

In a recent study, Future Market Insights (FMI) has forecast the medical nitroglycerin spray market to record consistent growth between 2020 and 2030. The report also projects the market to reach a valuation of US$147.3 Mn by the end of 2030.

Rising prevalence of cardiovascular ailments around the world have led to significant developments in cardiac treatments. Among those, heightening adoption of nitroglycerin sprays is touted as one of the most renowned treatment approaches.

Medical Nitroglycerin Sprays Market

Coronary heart disease is among the leading causes of morbidity and fatality amongst heart patients. This disease is the leading cause of angina pectoris, or acute chest pain, caused due to blockage of arteries. To offset the discomfort, adoption of nitroglycerin sprays is rising significantly.

A significant proportion of the global heart ailment population remain undiagnosed for angina pectoris. According to FMI, this undiagnosed population base is what would possible heighten growth prospects for the market across the upcoming forecast decade.

To Get the Sample Copy of Report visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-12620

Key Takeaways from the Medical Nitroglycerin Sprays Study

  • North America touted to retain market hegemony, capturing over two-fifths of the revenue share
  • Prophylaxis of angina pectoris to remain the dominant segment, expanding steadily at 4.1% CAGR from 2020-2030
  • By distribution channel, online pharmacy sales are poised to witness credible expansion owing to the pandemic and deepening digital literacy
  • 90 metered sprays/bottle dose capacity to remain the most preferred option, registering an index of 1.4
  • Global medical nitroglycerin sprays market is likely to expand steadily, registering a CAGR of 4.2%

“Continued innovations in product development to roll out effective therapeutic options for angina pectoris treatment characterize vendors’ principal expansion strategies,” concludes the FMI analyst.

COVID-19 Impact Insights

The COVID-19 pandemic has had detrimental impacts on the world at large, bringing in massive revenue shortfalls and reduced profit margins. A long-term economic recession is likely to be perpetuated for the forthcoming years.

With regard to nitroglycerin sprays, the market is expected to decelerate in the professional caregiving sector, attributed to shifting priorities towards the pandemic’s eradication. Therefore, elective surgeries for cardiac diseases are being postponed, leading to limited uptake of nitroglycerin sprays.

This deferment of elective cardiovascular surgeries is prompting patients to opt for homecare alternatives. Consequently, oral and sublingual administration of nitroglycerin sprays has been rising steadily to prevent acute angina attacks.

Competitive Intelligence

The global medical nitroglycerin sprays market is highly consolidated, with the presence of four prominent players: Perrigo Company Plc., Evus Health Solutions LLC., G. Pohl-Boskamp GmbH & Co. and Akrimax Pharmaceuticals LLC. These players primarily concentrate on portfolio strengthening by introducing new products into the market.

For instance, in September 2020, Perrigo Company Inc. introduced the store brand equivalent of Voltaren® Arthritis Pain Reliever in over-the-counter pharmacy stores. It is the first abbreviated new drug application (ANDA) to receive U.S FDA approval.

In 2006, Evus Health Solutions received clearance from the FDA to launch the NitroMist® Nitroglycerin Lingual Aerosol Spray. The device is a nitrate vasodilator indicated for acute relief of an attack or acute prophylaxis of angina pectoris. This 400 mcg per spray is available in 230 metered or 90 metered sprays per container.

G-Pohl-Boskamp GmbH & Co. is one of Germany’s most successful independent pharmaceutical producers. Its product portfolio includes a range of products for several chronic conditions. In this case, the company manufactures the Nitrolingual Pumpspray available in 60 and 200 metered sprays per container.

More Insights on the Medical Nitroglycerin Sprays Market

Future Market Insights provides an unbiased global industry analysis (2015-2019) and opportunity assessment (2020-2030) on the medical nitroglycerin sprays market. The report provides compelling insights on basis of application (prophylaxis of angina pectoris & acute relief of attack (treatment)), dose capacity (60 metered spray/bottle, 90 metered sprays/bottle, 200 metered sprays/bottle, 230 metered sprays/bottle), and distribution channel (hospital pharmacies, retail pharmacies and online pharmacies) across seven major regions. 

Medical Nitroglycerin Sprays Market- Report Scope

AttributeDetails
Forecast Period2020-2030
Historical Data Available for2015-2019
Market AnalysisUS$ Mn for Value
Key Regions CoveredNorth America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa (MEA)
Key Countries CoveredU.S, Canada, Brazil, Mexico, Germany, Italy, U.K, Spain, BENELUX, Russia, India, Thailand, Indonesia, Malaysia, China, Japan, South Korea, Australia, New Zealand, GCC and South Africa.
Key Segments CoveredApplication, Dose Capacity and Distribution Channel
Key Companies ProfiledEvus Health Solutions G. Pohl-Boskamp GmbH & Co. KG Perrigo Pharmaceuticals Ltd. Akrimax Pharmaceuticals LLC.
Report CoverageMarket Overview, Key Market Trends, Key Success Factors, COVID-19 Crisis Analysis, Market Background, Segmental Analysis, Regional Profiling, Market Structure Analysis and Competition Landscape
Customization & PricingAvailable upon Request

Key Questions Answered in the Report

  • Briefly describe the future growth trajectory of the Medical Nitroglycerin Sprays market. The global Medical Nitroglycerin Sprays market was valued at US$ 94.4 Mn in 2019, and is expected to register a CAGR of 4.2% during the forecast period (2020-2030), reaching US$ 147.3 Mn by 2030-end.
  • How is the COVID-19 pandemic affecting Medical Nitroglycerin Sprays market? The ongoing novel coronavirus disease pandemic is anticipated to substantially influence the Medical Nitroglycerin Sprays market. With exponentially rising number of cases every day, footfalls across hospitals and clinics are dwindling, leading to a decline in Nitroglycerin spray drug administration. However, it is expected that people will rely more on self-medication techniques, especially patients with chronic heart ailments. For this, residential grade Nitroglycerin spray usage is bound to increase, keeping demand afloat during the ensuing time period.
  • What are the key factors driving Medical Nitroglycerin Sprays market? Rising prevalence of Angina Pectoris and cost effectiveness of Nitroglycerin combined with ease of spray usage are anticipated to collectively provide an upward thrust to the Medical Nitroglycerin Sprays market in the forthcoming forecast period.
  • Which factors are hindering the Medical Nitroglycerin Sprays market expansion? According to FMI’s estimates, inadequate distribution networks of manufacturers is expected to restrict regional penetration of Nitroglycerin sprays across several countries. Moreover, purported ineffectiveness of the procedure among microvascular angina patients is also slated to restrain market growth.

Leave a comment

Your email address will not be published.