Medical Nitroglycerin Spray Market: Introduction
- Nitroglycerin belongs to a class of drugs known as nitrates. These are used to treat incidents of chest pain (Angina) in people who suffer from coronary artery diseases.
- Nitroglycerin spray is a vasodilator, used just before activities that may cause episodes of angina, in order to prevent the angina from occurring
- Medical nitroglycerin spray normally works by relaxing and widening blood vessels and smooth muscles so that blood and oxygen can flow easily to the heart. Consequently, the heart does not need to work as hard and therefore, the chest pain reduces.
Key Drivers and Restraints of Global Medical Nitroglycerin Spray Market
- Medical nitroglycerin is available in multiple dosage forms such as sublingual tables, sprays, in-vitro and patches, and ointments. For instance, nitroglycerin sprays are available in different capacities, ranging between 60 doses per bottle to 230 dose per bottle. Availability of nitroglycerin spray in a wide range of dosage forms and capacities is projected to fuel the global market during the forecast period.
- Nitroglycerin spray is inexpensive and hence affordable. It also offers better therapeutic effects as compared to that offered by other medications. Furthermore, it has minimum side-effects as compared to that of conventional drugs. These factors are estimated to drive the nitroglycerin spray market in the next few years.
- According to the World Health Organization (WHO), cardiovascular disease accounts for nearly 17.9 million deaths every year, which is estimated to contribute to 31% of all global deaths. A rise in the number of people suffering from cardiovascular diseases can be attributed to sedentary lifestyle along with smoking, tobacco & alcohol consumption, and unhealthy diet. Hence, a rise in prevalence of cardiovascular diseases is projected to fuel the global market during the forecast period.
- According to the World Health Organization (WHO), the population of people aged 60 years and above is projected to rise from 900 million in 2015 to 2 billion in 2050. Usually, the geriatric population is at high risk of coronary vascular disease. Hence, an increase in the geriatric population is anticipated to boost the global nitroglycerin spray market.
North America to Dominate Market
- In terms of region, the global nitroglycerin spray market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is projected to account for a major share of the global medical nitroglycerin spray market. Increasing prevalence of cardio artery disease in North America and the presence of major players are major factors driving the nitroglycerin spray market in the region.
- Europe followed North America in terms of share of the global medical nitroglycerin spray market in 2019 due to a surge in the number of acute myocardial infarction and other cardio vascular diseases
- The market in Asia Pacific is projected to expand at a notable CAGR, owing to an increase in the geriatric population and rising healthcare infrastructure & technological advancements in the region. This is expected to boost the medical nitroglycerin spray market in Asia Pacific.
- Middle East & Africa is a relatively less lucrative market for medical nitroglycerin spray, globally, due to less access available to the target population suffering from heart diseases
Key Manufacturers Operating in Global Medical Nitroglycerin Spray Market
Key manufacturers operating in the global market include:
- Evus Health Solutions, LLC
- Perrigo Company plc
- G. Pohl-Boskamp GmbH & Co. KG
- Akrimax Pharmaceuticals, LLC
- Medley Pharmaceuticals Ltd.
Global Medical Nitroglycerin Spray Market: Research Scope
Global Medical Nitroglycerin Spray Market, by Dosage
- 60 metered sprays/bottle
- 90 metered sprays/bottle
- 200 metered sprays/bottle
- 230 metered sprays/bottle
Global Medical Nitroglycerin Spray Market, by Indication
- Prophylaxis of Angina Pectoris
- Acute Relief of Attack (Treatment)
Global Medical Nitroglycerin Spray Market, by Distribution Channel
- Hospitals Pharmacies
- Online Pharmacies
- Retail Pharmacies
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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