Nasal Spray Vaccine Market: Current Analysis and Forecast (2021-2027)

Report Description

Nasal Spray Vaccine Market is expected to exceed the market valuation of more than US$ XX billion in 2027 and is expected to grow at a significant CAGR of ~8% during the forecast period (2021-2027). Oral and Intramuscular vaccination has been considered till date as the ultimate ways, but nasal route offers advantages such as ease of self administration and induction of mucosal as well as systemic immunity. Both liquid and dry powder formulations can be given via intranasal route. A great consideration has to be given while selecting a suitable device for nasal administration since the volume delivered is very low. A number of devices are available based on number of doses to be administered and type of dosage formulation. An intranasal vaccine stimulates a broad immune response that neutralizes IgG, mucosal IgA, and T cell receptors. Immune responses at the site of infection (in the nasal mucosa) are essential for blocking both infection and transmission of COVID-19. The nasal route has excellent potential for vaccination due to the organized immune systems of the nasal mucosa. The nasal vaccine process is non-invasive and needle free. There is also an ease of administration and does not require trained health care workers. This eliminates needle-associated risks such as injuries and infections. Nasal spray vaccines have a high compliance rate and ideally suits for children’s and adults. Nasal vaccines can also be manufactured in a large scale and thus will be able to meet the global demand.

Key reason for the growth of nasal spray vaccines is their emergence during the covid-19 pandemic, which lead to their acceptance. Additionally, their ease of administration and their increasing use is driving the global market. Furthermore, the application of nasal sprays in the treatment of depression is creating numerous opportunities for the nasal spray vaccines market. Globally the manufacturers of vaccine packaging products have come up with nasal spray for the shortage and transportation of different types of drugs and vaccines. The worldwide acceptance of various over the counter drugs and ophthalmic antibiotics is increasing the market popularity of nasal spray as a preferred packaging for other medicinal drugs too. Demand for vaccine nasal spray has witnessed a sharp rise in recent years, due to increased healthcare facilities, clinics and household end uses of these vaccine nasal sprays, producers engaged making these sprays are expanding their production facilities to meet the rising demand across the globe.

Percentage of the Population with Chronic Diseases (%), 1995-2030

Akorn, Allergan, Apotex Inc., Bharat Biotech, Catalent Inc., Cipla Limited, GlaxoSmithKline, Johnson and Johnson, Novartis International AG, and Pfizer Inc. are some of the prominent players operating in the Nasal Spray Vaccine market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Type, Decongestion Nasal Spray segment holds the major share”

Based on Type, the Nasal Spray Vaccine Market is segmented into Decongestion Nasal Spray, Steroid Nasal Spray, and Saltwater Solution/Saline Nasal Spray. Decongestion Nasal Spray is used for temporary relief of congestion in the nose caused by various conditions including the common cold, sinusitis, hay fever, and allergies. It works by narrowing the blood vessels in the nose area, reducing swelling and congestion. Oxymetazoline comes as a solution (liquid) to spray into the nose. It is usually used every 10 to 12 hours as needed, but not more often than twice in a 24-hour period.

 “Amongst Prescription, Prescribed Segment holds the major share”

Based on Prescription, the Nasal Spray Vaccine Market is segmented into Over-The-Counter and Prescribed. The vaccine has been prescribed for Covid-19 to many patients and shown many positive effects. Additionally, the nasal vaccine for flu is also on trial and may be a hit when it comes out. Even though nasal vaccines need prescriptions, they are easy to use and can easily be self administered. This gives them an advantage over the traditional vaccines.

“Amongst Type of Therapeutics, Antihistamine segment holds the major share”

Based on Type of Therapeutics, the Nasal Spray Vaccine Market is segmented into Antihistamine, Nasal Steroids, Anticholinergic, Mast Cell Inhibitor. Antihistamine sprays relieve congestion, itchy and runny nose, and sneezing. They are available by prescription and include azelastine (Astelin, Astepro) and olopatadine (Patanase). They usually cause less drowsiness than antihistamine pills, but they still may make some people sleepy. These medications aren’t intended for long-term use. You can usually use them for about 3 weeks when your nasal allergy symptoms are at their peak.

“North America represents one of the largest markets of Nasal Spray Vaccine market”

For a better understanding of the market dynamics of the Nasal Spray Vaccine market, a detailed analysis was conducted for different regions across India including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), Rest of World. North America dominated the market and grabbed around XX% market share owing to increasing chronic diseases in the region.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Nasal Spray Vaccine market were the three major steps undertaken to create and analyze the adoption of Nasal Spray Vaccine in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Nasal Spray Vaccine market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Nasal Spray Vaccine through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Nasal Spray Vaccine market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as Type, Prescription, Therapeutic, and End-User. Further country-level analyses were conducted to evaluate the overall adoption of Nasal Spray Vaccine in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Nasal Spray Vaccine. Further, we conducted factor analysis using dependent and independent variables such as increasing elderly population and chronic diseases. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Nasal Spray Vaccine sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Nasal Spray Vaccine market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Nasal Spray Vaccine across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Nasal Spray Vaccine market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Nasal Spray Vaccine market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and their type of the Nasal Spray Vaccine market.

The main objective of the Nasal Spray Vaccine Market Study

The current & future market trends of Nasal Spray Vaccine were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Nasal Spray Vaccine in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type and their subtypes
• Define and analysis of the regulatory framework for the Nasal Spray Vaccine industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Nasal Spray Vaccine market for the major region
• Major regions studied in the report include North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), Rest of World.
• Company profiles of the Nasal Spray Vaccine market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry