Medical Nitroglycerin Sprays Market Size, Share, Trends, Growth and Forecast 2032

Medical Nitroglycerin Sprays Market Insights

According to a report from Zion Market Research, the global Medical Nitroglycerin Sprays Market was valued at USD 815.45 Million in 2023 and is projected to hit USD 1685.24 Million by 2032, with a compound annual growth rate (CAGR) of 8.4% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Medical Nitroglycerin Sprays Market industry over the next decade.

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Introduction

The Medical Nitroglycerin Spray Market size is expected to develop revenue and exponential market growth at a remarkable CAGR during the forecast period from 2023–2032. The growth of the market can be attributed to the increasing demand for Medical Nitroglycerin Spray owning to the Hospital, Drugs Store Applications across the global level. The report provides insights regarding the lucrative opportunities in the Medical Nitroglycerin Spray Market at the country level. The report also includes a precise cost, segments, trends, region, and commercial development of the major key players globally for the projected period.

The Medical Nitroglycerin Spray Market report represents gathered information about a market within an industry or various industries. The Medical Nitroglycerin Spray Market report includes analysis in terms of both quantitative and qualitative data with a forecast period of the report extending from 2023 to 2032. The report is prepared to take into consideration various factors such as Product pricing, Product or services penetration at both country and regional levels, Country GDP, market dynamics of parent market & child markets, End application industries, major players, consumer buying behavior, economic, political, social scenarios of countries, many others. The report is divided into various segments to offer a detailed analysis of the market from every possible aspect of the market.

The overall report focuses on primary sections such as – market segments, market outlook, competitive landscape, and company profiles. The segments provide details in terms of various perspectives such as end-use industry, product or service type, and any other relevant segmentation as per the market’s current scenario which includes various aspects to perform further marketing activity. The market outlook section gives a detailed analysis of market evolution, growth drivers, restraints, opportunities, and challenges, Porter’s 5 Force’s Framework, macroeconomic analysis, value chain analysis and pricing analysis that directly shape the market at present and over the forecasted period. The drivers and restraints cover the internal factors of the market whereas opportunities and challenges are the external factors that are affecting the market. The market outlook section also gives an indication of the trends influencing new business development and investment opportunities.

Global Medical Nitroglycerin Sprays Market: Overview

Nitroglycerin spray is used to treat angina attacks (chest pain) in people with coronary artery disease. The spray can also be used right before events that may trigger angina attacks to prevent them from happening. Nitroglycerin belongs to the class of drugs known as vasodilators. It helps by calming the blood vessels, allowing the heart to work less hard and therefore require less oxygen. Nitroglycerin is available as a spray to be used on or under the tongue. The spray is typically used on an as-needed basis, either 5 to 10 minutes before activities that can trigger angina attacks or at the initial warning of an attack.

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Medical Nitroglycerin Sprays Market: Report Scope

Global Medical Nitroglycerin Sprays Market: Growth Factors

Medical nitroglycerin comes in a variety of dosage types, including sublingual tablets, sprays, in-vitro and patch therapy, and ointments. Nitroglycerin sprays, for example, offer a range of capacities from 60 to 230 doses per bottle. In addition, as compared to conventional medications, they have less side effects. These aforementioned factors are expected to generate credible prospects for market expansion during the forecast period. Additionally, the rise in angina pectoris among adults is prompting manufacturers to distribute higher doses of nitroglycerin sprays, especially in emerging markets.

Nitroglycerin is less costly than sublingual tablets and has a greater therapeutic effect. In the medical nitroglycerin industry, the reduced price of nitroglycerin products is a major driver of development. According to the University of Wisconsin (UW) Hospitals and Clinics Authority, nitroglycerin sprays can last for a prolonged period. Nitroglycerin sprays, for example, can last up to two years, while sublingual tablets expire after six months.

The World Health Organization (WHO) estimates that the population of people aged 60 and above will increase from 900 million in 2015 to 2 billion in 2050. The elderly are usually at a higher risk of coronary heart disease. As a result, the global nitroglycerin spray market is projected to benefit from a rise in the geriatric population.

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Angina pectoris is caused by a mismatch between myocardial blood supply and oxygen demand, resulting in myocardial ischemia. It is a common symptom in people who have coronary artery disease (CAD). The overall number of prevalent diagnosed cases for patients over the age of 18 was over 6 million as of 2019. This trend is only expected to rise in the coming years, owing to an increase in the prevalence of sedentary lifestyles, which is causing major health problems among urban residents. In light of this, the demand for medical nitroglycerin sprays is expected to expand over the forecast period.

According to surveys, patients with microvascular angina who take nitroglycerin show no clear signs of progress. This is due to the fact that nitroglycerin formulations appear to have a high resistance to micro vessels. In fact, they can lower blood pressure, which can lead to complications. Moreover, increased nitroglycerin intake causes chronic headaches, which is a significant source of concern for migraine patients. Both of the above concerns are expected to stymie growth opportunities over the next decade. Furthermore, due to regulatory approval delays, nitroglycerin sprays have a limited market penetration.

Global Medical Nitroglycerin Sprays Market: Segmentation

The most popular application of medicinal nitroglycerin sprays is expected to be angina pectoris prophylaxis. It is predicted to have a market share of more than 80% by 2030. The segment is expected to have a considerable growth rate. Acute relief of attack is expected to grow quickly. In the future, rising rates of extreme angina pectoris and the associated trauma for patients are expected to propel this segment to new heights.

The global medical nitroglycerin sprays market is projected to remain dominated by conventional retail pharmacies. They are expected to gain approximately half of the overall revenue share over the forecast period. Pharmacies can obtain sufficient stock supported by strong distribution networks with suppliers, thereby becoming the primary source of these sprays. Online pharmacies, on the other hand, are gaining momentum, with a market share that is nearly equal. The online pharmacy sector is expected to grow at a high CAGR. This can be attributed to the digital purchase volumes as a result of the current pandemic crisis, as well as an increase in digital literacy among the public.

Global Medical Nitroglycerin Sprays Market: Regional Analysis

By Geography, the medical nitroglycerin sprays market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa.

The North American market is projected to account for a notable market share throughout the projected era. The most profitable market is expected to be the United States. The Food and Drug Administration (FDA) has played a key role in the growth of the nitroglycerin sprays industry over the last few years with a number of regulatory approvals and amendments. In the United States, companies including Evus Health Solutions, Perrigo Company plc, and Arimax Pharmaceuticals have a significant presence.

Europe is expected to be the second most profitable region for the expansion of medicinal nitroglycerin sprays. The region is expected to develop at a steady CAGR. Nitroglycerin is being promoted as a possible pain reliever for patients suffering from myocardial infarction, in addition to treating cardiovascular ailments. In Europe and around the world, acute myocardial infarction is a leading cause of mortality and morbidity. Nitroglycerin is also the first-line therapy for angina pectoris since it releases Nitric Oxide, which induces vasodilation and enhances blood flow to the myocardium. As a result, manufacturers are expanding their footprint in the region.

East Asia is expected to provide significant growth opportunities for the medical nitroglycerin sprays industry. Japan is expected to be the driving force behind growth, owing to a sizable geriatric population. China is projected to have the most profitable growth potential, with an attractiveness index of 1.4. Rapidly rising investments in healthcare infrastructure to provide advanced treatment for a variety of cardiac ailments, thereby driving market growth. The majority of nitroglycerin sprays are purchased from online pharmacies. This is largely due to the current COVID-19 pandemic, as well as patient comfort. These sprays are flexible enough to be ingested at home by other family members and are simple to apply.

Global Medical Nitroglycerin Sprays Market: Competitive Players

The major players in the global medical nitroglycerin sprays market include-

• Perrigo Company Plc.
• Evus Health Solutions LLC.
• ESPERO BIOPHARMA
• G. Pohl-Boskamp GmbH & Co.
• Square Pharmaceuticals Ltd
• Akrimax Pharmaceuticals LLC.
• Sun Pharmaceutical Industries Ltd
• Glenmark Pharmaceuticals Ltd
• Troikaa Pharmaceuticals Ltd
• Dalmia Bros. Pvt. Ltd. 
• among others.

The report segment of global medical nitroglycerin sprays market are as follows:

Global Medical Nitroglycerin Sprays Market: Application Segment Analysis

• Acute Relief of Attack
• Prophylaxis of Angina Pectoris

Global Medical Nitroglycerin Sprays Market: Metered-Dose Segment Analysis

• 230 Metered Sprays
• 90 Metered Sprays

Global Medical Nitroglycerin Sprays Market: Distribution Channel Segment Analysis

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Global Medical Nitroglycerin Sprays Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa