Medical Nitroglycerin Sprays Market to Hit US$ 180.09 Million by 2031: Growth Plus Reports

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Newark, New Castle, USA, June 22, 2023 (GLOBE NEWSWIRE) — Growth Plus Reports estimated the size of the global market for medical nitroglycerin sprays in 2022 to be worth US$ 125.44 million, and it is expected that it will increase at a revenue CAGR of 4.1% to reach US$ 180.09 million by 2031.

The global market for medical nitroglycerin sprays was analyzed and is expected to rise significantly in terms of revenue share during the forecast period. In people with coronary artery disease (a constriction of the blood vessels supplying the heart with blood), nitroglycerin spray is used to treat angina attacks (episodes of chest discomfort). The class of medications known as vasodilators includes nitroglycerin.

Key Takeaways: 

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  • The rising prevalence of cardiovascular diseases is driving the market revenue share.
  • Rapid reduction of angina pain is driving the medical nitroglycerin sprays market demand.
  • Growing geriatric population is driving the market revenue share.

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                                 Medical Nitroglycerin Sprays Market Scope

Report Attribute Details
Market Size Value in 2022 US$ 125.44 million
Revenue Forecast in 2031 US$ 180.09 million
CAGR 4.1%
Base Year for Estimation 2022
Forecast Period 2023 to 2031
Historical Year 2021
Segments Covered Application, Distribution Channel, and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa


Competitive Landscape

A list of the prominent players operating in the global market for medical nitroglycerin sprays includes: 

  • Perrigo Company plc
  • Evus Health Solutions LLC
  • G. Pohl-Boskamp GmbH & Co.
  • Akrimax Pharmaceuticals LLC

Glenmark Pharmaceuticals Ltd. Market Drivers and Restraints: 

The global medical nitroglycerin sprays market revenue is driven by the increasing incidence of heart diseases, the growing awareness about the benefits of nitroglycerin sprays in relieving chest pain, and the availability of various nitroglycerin spray formulations. Additionally, the development of new nitroglycerin spray technologies, such as breath-activated nitroglycerin sprays, is likely to contribute potential growth to the global market revenue.

However, due to several adverse effects on human health, the market revenue growth is expected to be restrained. 

Market Segmentation: 

Segmentation By Application

Based on the application, the global medical nitroglycerin spray market is segmented into prophylaxis of angina pectoris and acute relief of attack. The acute relief of attack accounts for the largest revenue share due to the sprays being a successful therapy choice for patients undergoing acute episodes since they act quickly and can quickly relieve angina symptoms.

Segmentation By Distribution Channel

Based on the distribution channel, the global medical nitroglycerin spray market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Due to the easy accessibility, quick and regular delivery of spray to the patients, and rising number of hospital admissions of patients suffering from a heart attack, the hospital pharmacies segment with the largest revenue share dominates the global market. 

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Regional Growth Dynamics

Based on the region, the global medical nitroglycerin sprays market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to the early adoption of technology, established infrastructure, numerous FDA regulatory approvals and changes, increased demand for customized medicine, and an increase in the incidence of chronic diseases are all contributing factors, North America, with the largest revenue share, dominates the global market.

Report Coverage 

Growth Plus Reports studied the global market for medical nitroglycerin sprays in-depth. We studied the fundamental market characteristics, significant investment sectors, regional growth analytics, revenue estimates, competing market players, and mergers and acquisitions.

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem
    2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions
  3. PREMIUM INSIGHTS
    1. Current Market Trends (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2022) 
    3. Regulatory Landscape
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
  5. GLOBAL MEDICAL NITROGLYCERIN SPRAYS MARKET – ANALYSIS & FORECAST, BY APPLICATION
    1. Prophylaxis of Angina Pectoris
    2. Acute Relief of Attack
  6. GLOBAL MEDICAL NITROGLYCERIN SPRAYS MARKET – ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
    1. Hospital Pharmacies
    2. Retail Pharmacies
    3. Online Pharmacies

MEDICAL NITROGLYCERIN SPRAYS MARKET TOC

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