Growing demand for migraine relief boosts the popularity of nasal sprays in the United States Fast, precise, and convenient, they're a top choice for sufferers.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 24, 2023 /EINPresswire.com/ -- According to study by Future Market Insights’ latest research unveils a promising trajectory for the global migraine nasal spray market, forecasting a robust CAGR of 7.0% during the anticipated period. The market, valued at US$ 468.8 million at the close of 2022, is poised for substantial expansion, with a projected increase to US$ 501.1 million in 2023 and a staggering surge to US$ 983.5 million by 2033.

The forecasted year-on-year (Y-o-Y) growth of 6.9% in 2023 underscores the escalating demand and potential of the migraine nasal spray sector. This growth trend signals a significant opportunity for market players and stakeholders within the pharmaceutical industry.

The global market for migraine nasal spray is expected to grow at a significant rate in the coming years, driven by several factors including the increasing efficiency of intranasal drug delivery to combat migraine. The extraordinary efficiency of intranasal delivery of drugs in comparison to other means of administration could be given to the exponential rise of the migraine nasal spray industry. Nasal sprays growth provide a direct and rapid route for medication absorption through the nasal mucosa, which is highly dense with blood vessels, allowing for faster onset of action and potentially increased bioavailability.

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Unlike oral drugs, which have to be broken down, nasal sprays avoid this step, minimizing degradation and first-pass metabolism. This results in a more effective and constant therapeutic impact, giving migraine sufferers with immediate relief.

Also, the ease and convenience of intranasal administration contribute to the market's growth. Patients frequently prefer nasal sprays to injections or oral pills, which leads to improved compliance and patient satisfaction. This preference is especially important for people who feel nauseated or have difficulties swallowing during a migraine attack.

Intranasal drug delivery is efficient, which corresponds to the fast-paced nature of modern living, making it a favourable choice for people seeking quick and effective treatment. The migraine nasal spray market is being fuelled by the growing recognition of intranasal delivery's better efficiency compared to traditional methods as research continues to substantiate the benefits of nasal sprays and pharmaceutical companies innovate to improve their formulations.

Key Takeaways from Market Study:

• By formulation, aqueous segment contributed around US$ 251.4 million in 2022. With its enhanced solubility, faster absorption, and lower discomfort, the aqueous segment dominates the migraine nasal spray market.

• By packaging, pump bottles contributed around US$ 349.4 million in 2022. Due to its user-friendly shape, accurate dosage distribution, and hygienic application, the pump bottle segment leads the migraine nasal spray market.

• By dosage segment, multi-dose segment contributed around US$ 440.3 million in 2022, Multi-dose nasal sprays lead the migraine industry with ease, cost-effectiveness, and user-friendliness, offering multiple doses and larger quantities for repeated migraine attacks.

• By distribution channel, institutional sales contributed around US$ 263.9 million in 2022. Institutional sales segment dominates the migraine nasal spray industry, serving large healthcare facilities, hospitals, and clinics.

• By region, North America held the dominant share in the world in 2022 contributing around US$ 164.5 million. Due to its healthcare expertise, facilities, research and development, North America dominates the migraine nasal spray market.

“Increasing incidence of migraines and comorbid disorders to enhance the worldwide migraine nasal spray market” - opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).

Market Competition:

There are limited number of companies active within the migraine nasal spray market, however, there are several companies having products in clinical pipeline. Continuous participation in conferences, increased research funding and quicker approval/certification processes are what the leading players are looking out for, to rope in majority of market share.
• In March 2023, Renaissance Lakewood LLC. makes an investment in more packing and assembly capacity for high-speed nasal sprays.
• On June 2017, AstraZeneca disclosed that it had reached a deal with Grünenthal for the rights to market Zomig (zolmitriptan) outside of Japan.

Key Companies Profiled:

• Pfizer Inc.
• GlaxoSmithKline (GSK)
• AstraZeneca
• RENAISSANCE LAKEWOOD, LLC

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Migraine Nasal Spray Market Segmentation:

By Formulation:

• Aqueous
• Hydroalcoholic
• Non-aqueous-based solutions
• Suspensions
• Emulsions
• Dry powder/Microparticles

By Packaging:

• Pressurized Canisters
• Pump Bottles

By Dosage:

• Multidose
• Bi dose
• Single/unit dose

By Distribution Channel:

• Institutional Sales
Hospitals
Community Clinics
Specialty Clinics
Public Health Agencies

• Retail Sales
Retail Pharmacies
Drug Stores
Mail Order Pharmacy

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

Authored By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Explore FMI’s related ongoing Coverage on Healthcare Market Insights Domain:

Nasal Sprays Market Size: The global market expand at a CAGR of 6.2% to reach a valuation of US$ 32.6 billion by the year 2033.

Nasal Packing Devices Market Share: The global market is accelerating with a moderate CAGR of 5.1% from 2023 to 2033. The global market size is anticipated to be valued at about US$ 311.9 million by 2033 end.

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.

Ankush Nikam
Future Market Insights, Inc.
+91 90966 84197
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