According to Future Market Insights (FMI), 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, reaching US$ 147.3 Mn by the end of 2030.
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%
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Key Drivers and Restraints of Global Medical Nitroglycerin Spray Market
Medical nitroglycerin is available in multiple dosage forms such as sublingual tables, sprays, in-vitro and patches, and ointments. For instance, nitroglycerin sprays are available in different capacities, ranging between 60 doses per bottle to 230 dose per bottle. Availability of nitroglycerin spray in a wide range of dosage forms and capacities is projected to fuel the global market during the forecast period.
Nitroglycerin spray is inexpensive and hence affordable. It also offers better therapeutic effects as compared to that offered by other medications. Furthermore, it has minimum side-effects as compared to that of conventional drugs. These factors are estimated to drive the nitroglycerin spray market in the next few years.
ccording to the World Health Organization (WHO), cardiovascular disease accounts for nearly 17.9 million deaths every year, which is estimated to contribute to 31% of all global deaths. A rise in the number of people suffering from cardiovascular diseases can be attributed to sedentary lifestyle along with smoking, tobacco & alcohol consumption, and unhealthy diet. Hence, a rise in prevalence of cardiovascular diseases is projected to fuel the global market during the forecast period.
According to the World Health Organization (WHO), the population of people aged 60 years and above is projected to rise from 900 million in 2015 to 2 billion in 2050. Usually, the geriatric population is at high risk of coronary vascular disease. Hence, an increase in the geriatric population is anticipated to boost the global nitroglycerin spray market.
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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.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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