According to the latest Transparency Market Research report on the North American nasal spray packaging market for the historical period of 2015-2019 and forecast period of 2020-2030, the market is expected to be driven by the strong and constant consumption of the drugs. Nasal Injection In various countries in the region, the North America nasal spray packaging market is expected to register a CAGR of 5.1% during the forecast period
North America Nasal Spray Packaging Market: Introduction
Market research on transparency provides key information for the North America Nasal Spray Packaging Market in its published report, which includes North America industry analysis, size, share, growth, trends and forecast for 2020-2030. In terms of revenue, the North American market is expected to grow 1.6 times the current market value by the end of 2030, due to the growing demand for multiple dose steroid nasal spray products in which TMR offers products. detailed information and forecast in the nasal area. spray packaging market report.
Nasal spray packaging solutions are over-the-counter (OTC) pharmaceutical vials or boxes from which the drug nasal spray can be extracted from the container closure system using strain. Nasal sprays are used to provide both topical and routine drug replacement products, and are readily available in the market in single and multi-dose formats. For this reason, nasal spray packages have gained immense popularity in various parts of the world. The TMR team segmented the nasal spray packaging market analysis based on various factors such as container type, drug type, and dosage form across five regions. According to TMR analysis, pump bottles are expected to hold the largest market share and overtake pressurized containers during the forecast period.
Consumer Preferred Multi-Dose Nasal Spray Packaging Solutions
Multi-dose nasal spray packaging solutions overtake single dose nasal spray vials as they offer consumers to use same content with same packaging, maximum quantity and lower price compared to single spray vial. Large pharmaceutical drug development companies are also inclined to provide customers with more reliable multidose nasal spray packaging solutions.
- Nemera is a world leader in the design, development and manufacture of drug delivery solutions. Nemera has invested approximately $ 12 million in R&D and manufacturing to bring the only user-independent multidose nasal spray system to the market.
In addition to this, multidose nasal spray packaging solutions have multiple advantages over single dose nasal spray vials. Multi-dose nasal pumps can be attached to plastic vials using a crimp, snap-on or screw-on cap. As nasal sprays and drops are liquid medications, there is a strong possibility of links between instant pack and drug formulations. Therefore, manufacturers also use high-quality standard glass materials to meet the needs of consumers. Therefore, according to the TMR analysis, the demand for nasal spray packaging is expected to increase during the forecast period, owing to the increasing demand for high-end multidose drug nasal delivery solutions.
Request a sample for detailed information on nasal spray packaging market https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=81803
Acquisition strategies help players expand their footprint
Due to the high consumption of nasal medication including decongestion and steroid nasal sprays in North America, increasing demand for nasal spray packaging is expected during the forecast period. Therefore, the major players plan to increase their investments in acquisition strategies in order to capture untapped regions of the globe. Large players such as AptarGroup, Inc., Gerresheimer AG, Bormioli Pharma and a few others are positioning a competitive advantage in the North American nasal spray packaging market.
- In December 2020, Bormioli Pharma acquired ISO Arzneiverpackungen Gmbh, a German company specializing in the production of pharmaceutical primary packaging
- In June 2019, AptarGroup, Inc. completed the acquisition of Nanopharm Ltd. Nanopharm, located in Newport, UK, is a leading, science-based provider of oral and nasal pharmaceutical design and development services.
- In July 2018, Gerresheimer AG acquired Sensile Medical. With this acquisition, Gerresheimer extended its business model towards Original Equipment Manufacturer (OEM) for drug delivery platforms.
Impact of COVID-19 on the North American Nasal Spray Packaging Market
The COVID-19 pandemic is likely to add economic challenges for nasal spray packaging manufacturers across North America. Despite the massive demand for various types of nasal medicines, manufacturers face many challenges in terms of limited working capital, disrupted product supply chain, and the second wave of the emerging pandemic in 2021. However, the packaging of the nasal spray continues to be vital. activity, primarily for needleless pharmaceutical drug delivery solutions. For this reason, the North American nasal spray packaging market is expected to grow at a growth rate of 5.1% in 2021. Detailed market inspection has revealed that in the COVID-19 pandemic, the demand for solutions saline and nasal spray medication for increased decongestion. significantly increased, as consumers try to get rid of future nasal congestion.
North America Nasal Spray Packaging Market: Competitive Landscape
The North American nasal spray packaging market is expected to experience strong competition among the major players. The market includes many well-recognized participants and many other local players who are entering this market by attributing significant income generation opportunities with the increasing demand for nasal spray packaging products.
Some of the major players operating in the North American nasal spray packaging market are Berry North America Inc., Gerresheimer AG, AptarGroup, Inc., West Pharmaceutical Service Inc., Amcor PLC, Nolato AB, Bormioli Pharma United States Inc., Coster Tecnologie Speciali SpA, SGD SA and Comar LLC, among others.
The tiered structure is defined on the basis of sector revenues and the market share of individual firms. According to the level structure, AptarGroup, Inc., Bormioli Pharma and Berry North America Inc. are identified as level 1 players in the nasal spray packaging market. In addition, Level 2 players include Gerresheimer AG, West Pharmaceutical Service Inc., Amcor Plc and other major players around the world. Tier 2 companies are expected to hold approximately 10-15% of the nasal spray packaging market share in North America in 2019.
Stuck in neck-and-neck competition with other brands? Request Customized Report on Nasal Spray Packaging Market https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=81803
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s proprietary blend of quantitative forecasting and trend analysis provides forward-looking information to thousands of decision makers. TMR’s experienced team of analysts, researchers and consultants use proprietary data sources and various tools and techniques to collect and analyze information.
TMR’s data repository is continually updated and revised by a team of research experts to always reflect the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research uses rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Company Name: TMR Research
Contact person: Rohit Bhisey
E-mail: Send an email
Call: + 1-415-520-1050
City: San Francisco
Country: United States