Medical Nitroglycerin Spray Market: Increasing prevalence of cardio artery disease is expected to drive the market
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.
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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.
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- 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.
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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.
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- 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
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