Fairfield Market Research Nasal Gels Market Size, Share, Growth, Type Outlook 2023-2030

Nasal Gels Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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Industry: Pharmaceuticals & Biotechnology


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Global nasal gels market is likely to exhibit a promising growth curve as far as the short-term outlook is considered. The report will uncover the insights into how the market growth will unfold in the next few years.

Mounting R&D Investments Uplift the Scope of Growth for Nasal Gels Market

During the forecast period, demand for the nasal gels is expected to increase due to increasing pollution levels, changing lifestyles, and an increasing geriatric population. There is expected to be an increase in research and development to boost investments in the global nasal gels market due to patient compliance with the nasal route. It is anticipated that the nasal gels market will experience rapid growth due to the growing emphasis on non-invasive drug delivery at affordable prices. However, stringent regulatory policies may restrain market growth. Numerous studies have shown nasal gels to be the most effective dosage form for administering medications, from system delivery to CNS delivery and nasal gels have shown better patient compliance with lower production costs than other delivery methods. In the US, about 13% of people 18 years and older have sinusitis, according to the American Academy of Allergy Asthma and Immunology. Children have been greatly affected by allergies in recent years. A major factor driving the growth rate of the nasal gels market will be the increased patient preference for nasal drug delivery due to easy administration and greater efficiency. Self-administration practices will increase the demand for nasal drug delivery, in turn driving the growth of nasal gels market.

According to Research and Development (RAND) Review blog in 2017 reported that 60% of adult Americans have at least one chronic condition, resulting in massive healthcare spending each year. Nearly 30 million Americans also have five or more chronic conditions. Additionally, NATESTO was approved in 2014 by the FDA for Testosterone Replacement Therapy (TRT), and it was commercialized in 2015. It is the first and only TRT gel for male adults with hypogonadism that is administered on the nose. In addition, patient preference for nasal products is expected to rise due to increased awareness and the product's efficacy and ease of administration.

Nasal Gels Market: COVID-19 Impact

COVID-19 has led to the developing of nasal gels and other technologies that can effectively resist SARS-COV-2. A few companies are developing nasal gels to combat SARS-COV-2. Due to the significant decline in hospital visits, the nasal gel dosage form may be used for other purposes. In the wake of COVID-19, patients adopted user-friendly methods of drug administration, such as nasal drug delivery. Many intranasal drugs, such as povidone-iodine nasal sprays, nitric oxide, and ethyl lauroyl arginate hydrochloride, were introduced as prevention against the disease.

Increasing Geriatric Population Remains a Major Growth Influencer for Nasal Gels Market

Generic inhalers, and nasal gels are expected to enter the nasal gels market in the next several years. Since more patients are diagnosed with restrictive respiratory disorders like asthma, and chronic obstructive pulmonary disease (COPD), and overall healthcare is becoming increasingly expensive, consumers will gravitate toward generic products. In the coming years, the generic prescription drug market forecast is consistently positive, and the low cost of generic drugs provides significant opportunities for expansion in this lucrative business. The demand for these generic prescription drugs will continue to grow in the coming years. A tremendous increase in the generic industry has been attributed to patent expirations, which have opened new markets for generics. Inhalation, and nasal medications are especially expected to see significant growth.

Growing Adoption for Treatment of COPD, and Asthma Drives Nasal Gels Market Growth

Inhaled medicinal substances are generally used to treat respiratory illnesses like COPD, and asthma. Nasal therapy is currently used to treat chronic respiratory disorders. As well as non-invasiveness, nasal drug delivery systems minimize the lag time caused by oral drug delivery. These advantages improve patient comfort, which in turn helps them adhere to their medication regimen more effectively. It was reported in Healthy People 2020, published by the Office of Disease Prevention and Health Promotion in 2016, that asthma mortality and morbidity disparities exist, particularly among minorities and low-income groups, causing individuals to seek more cost-effective options.

High Costs Associated with Drug Delivery to Hamper Nasal Market Growth

Meanwhile, nasal drug delivery devices are expensive and nasal sprays can cause infection, nausea, and irritation when overused, hindering the market growth. Additionally, low bioavailability, irreversible damage to cells' cilia, and intense competition among the market players will pose challenges to nasal drug delivery. There are several drugs whose patents have expired, and there is less awareness of their existence, which will act as a restraint and further impede the growth of nasal gels market in long term.

Decongestant Sales Dominant in Nasal Gels Market in Line with Increasing Nasal Allergy Cases

The decongestant product type segment held the largest market share, and it is anticipated that it will continue to rule the market during the forecast period. This growth is mainly attributed to the increasing cases of nasal allergy. In addition to affecting 10-20% of the population, allergic rhinitis is one of the most common chronic rhinitis conditions. Evidence suggests the condition is becoming more prevalent over time. Increasing number of nasal allergy cases thus tends to uphold sales of decongestants in nasal gels market.

Increased Disease Burden Accounts for Prominence of Nasal Congestion Category in Nasal Gels Market

In the forecast period, the nasal congestion segment held the largest market share, and it is anticipated that it will continue to rule the market during the forecast period. Among the conditions treated locally with nasal gels are rhinitis, migraine, colds, pain, and nasal congestion. Nasal gels are mainly used for nasal allergy, for which nasal gels provide rapid relief and are highly effective and easy to use. The nasal gels market is expected to continue to grow in the forecast period due to COVID-19 acting as a catalyst. The market growth is also likely to be aided by the increasing demand for self-administration and increased compliance among patients. The availability of a large number of drops is a further factor contributing to the segment's growth.

North America Retains Pre-eminence in Nasal Gels Market

Over the forecast period, it is anticipated that the North American market will account for the largest revenue share. A number of major key players and an established healthcare infrastructure contribute toward the growth of nasal gels market across the region. Additionally, rhinitis, sinusitis, congestion, and respiratory allergies will propel market growth. According to the Center for Disease Control, the number of adults with asthma aged 18 and older in the US in 2017 was approximately 20.4 million, representing approximately 8.3% of the country's total population. This is mainly due to increased disease prevalence and increased consumer awareness about nasal products. Furthermore, 6.1 million children under 18 in North America have asthma, a number which will continue to rise due to the region's developed economies.

Asia Pacific’s nasal gels market is anticipated to experience stable revenue growth throughout the forecast period. There are many reasons why allergy diseases are on the rise in this region, such as the growing geriatric population, the increasing incidence of allergy diseases, effective treatment methods available, high unmet clinical needs, and rising disposable incomes. Some of the major companies are present in this region, including AptarGroup, Inc., Sun Pharmaceutical Industries Ltd., and Cipla Inc., which are expected to benefit the overall market. The prevalence of asthma in Korea is consistently high, especially among women and elderly people, according to a study published in the National Library of Medicine National Institutes of Health in 2018. In 2016, the Office of Disease Prevention and Health Promotion published Healthy People 2020, which found that asthma mortality and morbidity tended to be higher among minority and low-income populations.

Global Nasal Gels Market: Competitive Landscape

NATESTO was approved in 2014 by the FDA for Testosterone Replacement Therapy (TRT), and it was commercialized in 2015. It is the first and only TRT gel for male adults with hypogonadism that is administered on the nose. A few players in the nasal gels market include Ayr Saline Nasal Gel., Pendopharm, Schülke & Mayr GmbH, Rhinase Nasal Gel, and Boroleum Ointment.

Regional Classification of the Global Nasal Gels Market is Listed Below:

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • Spain
  • U.K.
  • Italy
  • Russia
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

 Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East and Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Nasal Gels Market

  • Nasal Gels Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2022
  • Market Value at Regional and Country Level, 2023 - 2030
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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