Thanks @thestoicinvestors and thanks @Bangkoknights for the original analysis of the TAM.
So the global TAM for nasal sprays is currently US$25.6B or A$41B (US$24.16 in 2024 plus 6% projected annual growth). I suspect the projected growth rate of 6.1% is conservative and the real growth rate could be higher.
The report states a major driver of the projected growth in the nasal spray (NS) market is the rising prevalence of respiratory diseases such as allergic rhinitis, sinusitis, and other respiratory disorders. It also refers to an increase in the development/approval of nasal spray medicines, citing the recent approval of an epinephrine NS as a substitute for an epi-pen to treat anaphylaxis.
First, the "rising prevalence of respiratory diseases" may be clinically factual or an artifact of COVID. As I have said previously, COVID changed people's perceptions, awareness and fears about respiratory illness - now everyone is aware of viruses and concerned about airborne illnesses. It may be that in the absence of a nasal spray that actually kills viruses (Nasodine) more people are resorting to symptomatic nasal sprays in the vain hope that they will offer some protection. They don't of course, but fortunately, Nasodine is coming.
Second, the drivers and the projected growth in the report ignore the NS market expansion that should occur due to the rapid growth in the new antimicrobial NS segment, led by Nasodine. In Singapore, Nasodine has already captured 8% of the total NS market through Guardian pharmacies. This is based on its first three months on the market and only based on Guardian data, not all pharmacy sales, but it does indicate the potential for Nasodine to grow the NS market and potentially to attract a significant share of the overall NS market in the future.
PM
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