Key Growth Drivers:
- Rise in the prevalence of respiratory infections
The surging prevalence of respiratory infections including Streptococcus, Enterobacteriaceae, and viral such as Coronavirus, Haemophilus influenza, Adenovirus and others is a major factor driving the nasal spray vaccine market's growth rate during the forecast period of 2022-2029. According to the Forum of International Respiratory Societies, lower respiratory tract infection and pneumonia affect 4 million people each year. According to the World Health Organization (WHO), influenza has resulted in approximately 3 to 5 million hospitalizations and 0.2 million fatalities.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of nasal spray vaccine market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.
Furthermore, rising initiatives by public and private organizations to spread awareness will expand the nasal spray vaccine market. Additionally, sedentary lifestyle of people and surging geriatric population will result in the expansion of nasal spray vaccine market. Along with this, favourable reimbursement policies will enhance the market's growth rate.
The report outlines the involvement of key players, including:
Pfizer Inc. (US), GlaxoSmithKline plc (UK), Novartis AG (Switzerland), Mylan N.V. (US), Teva Pharmaceutical Industries Ltd.(Israel), Sanofi (France), AstraZeneca (UK), Johnson Johnson Private Limited (US), Merck Co., Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Allergan (Ireland), Dr. Reddy’s Laboratories Ltd. (India), Cipla Inc. (US), Assertio Therapeutics, Inc. (US), Bayer AG (Germany), Jay-Pharma (India), St. Renatus (US), Ultratech India Limited (India), Leeford Healthcare Limited (India), Catalent, Inc (US)
Key Market Segmentation
Type (Child, Adult), Container Design (Pressurized Container, Pump Bottles), Capacity (5ml-10ml, 11ml-20ml, 21ml-30ml, Above 30ml), Material (Polyethylene (PE), Polypropylene (PP), Polyethylene Terephthalate (PET), Others), End-Users (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others)
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