As per the research conducted by FMI, the global medical nitroglycerin sprays market is expected to record a CAGR of 3.9% from 2023 to 2033. In 2023, the market size is projected to reach a valuation of US$ 110.9 million. By 2033, the valuation is expected to reach US$ 163.5 million.
The group of medications known as nitrates includes nitroglycerin. They are used to treat chest pain (angina) symptoms in persons with coronary artery disorders. A vasodilator called nitroglycerin spray is applied right before engaging in activities that could result in angina attacks to stop angina from happening.
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The nitroglycerin spray is thought to be affordable and convenient. Besides that, it has better therapeutic effects than other medications. Also, it has fewer negative effects than conventional drugs. These factors are anticipated to drive the market for nitroglycerin spray in the following years.
North America is predicted to lead the market for medicinal nitroglycerin sprays. The increased frequency of cardiac artery disease in North America and the presence of prominent players are the primary factors driving the market for nitroglycerin spray in the region.
Saudi Arabia’s need for pharmaceutical products is increasing as non-communicable illness prevalence is rising and healthcare infrastructure is getting better. The market for medical nitroglycerin sprays is projected to increase in the next few years as a result of factors such as rising healthcare spending, rising cardiovascular illness incidence, and rising health consciousness.
Key Takeaways:
- The medical nitroglycerin sprays market is expected to surpass US$ 163.5 million by 2033.
- The nitroglycerin spray is considered economical and easily accessible thus expected to drive the
- The medical nitroglycerin sprays market is likely to record a CAGR of 9% through 2033.
- The medical nitroglycerin sprays market is anticipated to reach a valuation of US$ 110.9 million in 2023.
- The medical nitroglycerin sprays market reached a valuation of US$ 106.3 million in 2022
- The medical nitroglycerin sprays market recorded a CAGR of 8% from 2018 to 2022.
- Nitroglycerin sprays may cause migraine among people, hence it may restrain the market to some extent.
Competitive Background:
The key players operating in the medical nitroglycerin sprays market are investing in mergers and acquisitions in order to gain a significant market share. The manufacturers are also investing in research and development, and are introducing innovative methods to boost production capacity. Product development and market expansion are significant aspects of the medical nitroglycerin sprays market. As a result, market participants are likely to have a better overall revenue share in the global medical nitroglycerin sprays market.
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Development in the Market:
- G-Pohl-Boskamp GmbH & Co. is a successful independent pharmaceutical manufacturer in Germany. Its product portfolio comprises a variety of treatments for several chronic illnesses. The Nitrolingual Pumpspray, which comes in 60 and 200 metered sprays per container, is made by the corporation.
Significant Market Players:
- Perrigo Company Plc.
- Evus Health Solutions LLC.
- Pohl-Boskamp GmbH & Co.
- Akrimax Pharmaceuticals LLC
- Glenmark Pharmaceuticals Ltd
- Dalmia Bros. Pvt. Ltd.
- Troikaa
- ESPERO BIOPHARMA, INC
- Square Pharmaceuticals Ltd
- Sun Pharmaceutical Industries Ltd.
Key Segments of Medical Nitroglycerin Sprays Industry Survey:
Medical Nitroglycerin Sprays Market by Application:
- Prophylaxis of Angina Pectoris
- Acute Relief of Attack (Treatment)
Medical Nitroglycerin Sprays Market by Dose Capacity:
- 60 Metered Sprays/Bottles
- 90 Metered Sprays/Bottles
- 200 Metered Sprays/Bottles
- 230 Metered Sprays/Bottles
Medical Nitroglycerin Sprays Market by Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Medical Nitroglycerin Sprays Market by Region:
- North America Medical Nitroglycerin Sprays Market
- Latin America Medical Nitroglycerin Sprays Market
- Europe Medical Nitroglycerin Sprays Market
- East Asia Medical Nitroglycerin Sprays Market
- South Asia & Pacific Medical Nitroglycerin Sprays Market
- The Middle East & Africa (MEA) Medical Nitroglycerin Sprays Market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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