“Nasal Spray Packaging Market”
According to Transparency Market Research’s latest report on the North America 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 consistent nasal drug consumption across various countries of the region, The North America nasal spray packaging market is expected to clock a CAGR of 5.1% during the forecast period
North America Nasal Spray Packaging Market: Introduction
Transparency Market Research delivers key insights for the North America nasal spray packaging market in its published report, which include North America industry analysis, size, share, growth, trends, and forecast for 2020-2030. In terms of revenue, the North America market is projected to expand 1.6 times of current market value by the end of 2030, owing to increasing demand for multi-dose type of steroid nasal spray products about which TMR offers detailed insights and forecasts in the nasal spray packaging market report.
Nasal spray packaging solutions are OTC (over-the-counter) pharmaceutical bottles or canisters, from which nasal drug spray can be extracted from the container closure system by using stress. Nasal spray containers are used to provide both locally and systematically stand-in drug products, and are easily available in the market in both single-dose and multi-dose formats. Due to this, nasal spray packaging has gained immense popularity across various regions of the globe. The TMR team segmented the analysis of nasal spray packaging market based on various factors such as container type, drug type, and dosage form across five regions. As per the TMR analysis, pump bottles are expected to hold the largest market share and outpace pressurized canisters during the forecast period.
Multi-dose Nasal Spray Packaging Solutions Preferred by Consumers
Multi-dose nasal spray packaging solutions are overtaking single-dose nasal spray bottles, as these offer consumers to use contents with same package, maximum quantity, and lesser price as compared to single spray bottle. Large pharmaceutical drug development companies are also inclined toward providing more reliable multi-dose nasal spray packaging solutions to customers.
Nemera is one of the world leaders in designing, development, and manufacturing of drug delivery solutions. Nemera has invested around USD 12 Mn in R&D and manufacturing to launch the only user independent multi-dose nasal spray system in the market.
Besides this, multi-dose nasal spray packaging solutions have multiple advantages over single-dose nasal spray bottles. Multi-dose nasal spray pumps can be fixed onto plastic bottles using a crimp cap, snapped-on or screwed-on. As nasal sprays and drops are liquid drugs, there is a high possibility of connections between instant packaging and drug formulations. Therefore, manufactures are also utilizing high quality standard glass materials to meet consumer needs. Therefore, as per the TMR analysis, the demand for nasal spray packaging is anticipated to boost during the forecast period, owing to increasing demand for high-end multi-dose nasal drug delivery solutions.
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Acquisition Strategies Help Players Expand Footprints
Due to the high consumption of nasal drugs, including decongestion and steroid nasal spray in North America, mounting demand for nasal spray packaging is expected during the forecast period. Therefore, key players are planning to increase their investments in acquisition strategies in order to capture untapped regions of the globe. Big players such as AptarGroup, Inc., Gerresheimer AG, Bormioli Pharma, and some others are positioning a competitive edge in the North America nasal spray packaging market.
For Instance,
In December 2020, Bormioli Pharma acquired ISO Arzneiverpackungen Gmbh, a Germany-based company specialized in the production of pharmaceutical primary packaging
In June 2019, AptarGroup, Inc. completed the acquisition of Nanopharm Ltd. Nanopharm, located in Newport, the U.K., is science-driven, leading provider of orally inhaled and nasal drug product design and development services
In July 2018, Gerresheimer AG acquired Sensile Medical. Through this acquisition, Gerresheimer extended its business model in the direction of Original Equipment Manufacturer (OEM) for drug delivery platforms.
Impact of COVID-19 on North America Nasal Spray Packaging Market
The COVID-19 pandemic is likely to add economic challenges for manufacturers of nasal spray packaging across North America. In spite of massive demand for various types of nasal drugs, manufacturers are facing numerous challenges in terms of limited work capitals, disrupted product supply chain, and now emerging second wave of the pandemic in 2021. However, nasal spray packaging continues to be a vital business, predominantly for needle-free pharmaceutical drug delivery solutions. Due to this, the North America nasal spray packaging market is anticipated to expand at a growth rate of 5.1% in 2021. The detailed inspection of the market found that in the COVID-19 pandemic, the demand for saline and decongestion nasal spray drugs has been dramatically increased, as consumers are trying to make themselves free from future nasal congestion.
North America Nasal Spray Packaging Market: Competition Landscape
The North America nasal spray packaging market is expected to witness strong competition among key players. The market comprises many well-recognized participants and numerous other local players that are entering into this market attributing to significant revenue creation opportunities with the rising demand for nasal spray packaging products.
Some of the key players operative in the North America 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 S.p.A, SGD S.A., and Comar LLC, among others.
The Tier structure is framed on the basis of segmental revenue and market share of individual companies. As per Tier structure, AptarGroup, Inc., Bormioli Pharma, and Berry North America Inc. are identified as Tier 1 players in the nasal spray packaging market. Furthermore, Tier 2 players includes Gerresheimer AG, West Pharmaceutical Service Inc., Amcor Plc, and some other major players from across the globe. Tier 2 companies are projected to hold around 10-15% of the North America nasal spray packaging market share in 2019.
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Transparency Market Research (TMR) is a Global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights to thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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