NEWARK, Del, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Since the common cold is a viral infection, there is no genuine treatment; nonetheless, there is a well-established market for symptom relief that attracts a lot of interest, demand, and spending.
As per Future Market Insights’ latest industry analysis, the valuation for the global throat sprays market was around US$ 465.7 Mn in 2021 and is projected to exhibit a CAGR growth of close to 2.1% over the forecast period, with an estimated valuation of US$ 586.1 Mn in 2032.
The widespread proliferation of viral infections in recent years has increased the demand for products that boost immunity. Infections can spread through a variety of channels, even with the strictest precautions. Healthcare industry players are now looking for herbal products that enhance immunity with minimal adverse effects, in order to reduce the associated risks and to cater to the demand for treatments with less detrimental impact.
Herbal infusions, cold beverages, lozenges, and candies containing herbal extracts with calming or numbing elements are frequently the first option of treatment for moderate sore throat symptoms. However, the chemicals in lozenges and sweets are not often directed at the mouth cavity and are delivered relatively slowly. Using a throat spray is a superior and practical treatment option for a sore throat, which is also highly targeted for symptom relief.
“Growing preference for natural-ingredient based throat sprays, along with wide availability of OTC medicines across online sales channels will create opportunities for growth in the market over the forecast period,” says an FMI analyst.
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Key Takeaways:
- Based on product type, sales of anesthetic throat sprays will gain traction through 2032.
- In terms of spray type, the pump and dispensers segment will hold around 66.2% of the total market share by 2032.
- By capacity, demand for 20-30 ml throat sprays will gain traction at a 2.4% CAGR during the forecasted years.
- Hospital pharmacies will dominate the market by 2032. The segment held around 33.4% of the total market share in 2021.
- The U.S. will lead the North America throat sprays market through 2032.
- Demand for throat sprays in Germany will grow at a 2.9% CAGR over the forecast period.
- Sales in the China throat sprays market will increase at a 1.9% CAGR over the assessment period.
Competition Landscape
Research, investment in R&D, strategic collaborations, and technology play a vital role in the throat sprays market growth. Manufacturers and integrators commonly use acquisitions, collaborations, promotions, expansions, and product launches to transfer technology and broaden their customer base internationally. For instance:
- In June 2021, URSATEC developed a melatonin spray – 100% free from preservatives. It is an effective sleep spray, which is void of any kind of preservatives, for better tolerability and safe use.
- In March 2022, Procter & Gamble announced that it would expand its manufacturing facility located at 100 Swing Road in Greensboro by 80,000 square feet and create an additional 46 jobs. The company plans to invest $110 million in the expansion.
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Key Market Segments Covered in Throat Sprays Industry Research
Spray Type:
- Anaesthetics Throat Sprays
- Anti-inflammatory Throat Sprays
- Pain Relief Throat Sprays
- Anti-bacterial Throat Sprays
- Natural Extract Throat Sprays
Closures:
- Aerosol Sprays
- Pump and Dispensers
Capacity:
- 5 ml
- 10-15 ml
- 20-30 ml
- >30 ml
Distribution Channel:
- Retail Store Chains
- Drug Stores
- Hospital Pharmacies
- Online Pharmacies
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the throat sprays market in its latest study, presenting a historical demand assessment of 2015 – 2021 and projections for 2022 – 2032.
The research study is based on the spray type – (anaesthetics throat sprays, anti-inflammatory throat sprays, pain relief throat sprays, anti-bacterial throat sprays, and natural extract throat sprays), by closures (aerosol sprays, and pump & dispensers), by capacity (5 ml, 10-15 ml, 20-30 ml, and >30 ml), by distribution channel (retail store chains, drug stores, hospital pharmacies, and online pharmacies), across seven key regions of the world.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3. Key Market Trends
3.1. Key Trends Influencing the Market
3.2. Spray Type Innovation / Development Trends
4. Key Success Factors
4.1. Spray Type Adoption / Usage Analysis
4.2. Key Strategies, by Manufacturers
4.3. Recent Product Launches
4.4. Porter’s Analysis
4.5. PESTLE Analysis
4.6. Regulatory Scenario
4.7. Product Matrix Analysis
4.8. Value Chain Analysis
About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here.
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