The global nasal drug delivery technology market size is forecasted to reach USD 64.20 billion by 2021, at a CAGR of 6.5% during the forecast period.
The method of administering medicines or medications through the nose canal is known as nasal medication delivery. The key advantages of the technology are its great efficacy and efficiency in treating the target disorders. This strategy of medication delivery is recognized to be a direct alternative to invasive modalities because to its comparatively streamlined and meticulous methodology of drug distribution.
According to nasal drug delivery technology report analysis, some of the primary reasons driving the growth of the nasal drug delivery technology market include increasing patient preference for nasal medication delivery due to ease of administration and improved efficacy, growing incidence of chronic diseases, as well as increased acceptance of self-administration practices. Intranasal medication administration is one of the most popular drug delivery methods among both patients and healthcare practitioners. This is mostly due to the non-invasive nature of this mode of administration and the fact that medication absorbability is higher via the nasal route.
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Companies have leveraged new technology to make goods that are small, portable, and easy to use. The nasal route has been considered suitable for pharmaceutical administration since it provides a faster start of action for the treatment of related illnesses.
The issues associated with nasal spray misuse are expected to hamper the growth of the nasal medication delivery technology market over the forecast period. In the near future, regulatory obstacles may impede the growth of the nasal medication delivery technology market.
Because many patients opted to undertake their chronic respiratory illness medication therapy at home, the COVID-19 pandemic benefited the nasal drug delivery sector, leading in a surge in the usage of inhalers at home rather than in hospitals or outpatient clinics. The usage of nasal inhalers to treat asthma, migraines, and other mental diseases has also increased. Furthermore, numerous pharmaceutical firms have begun to develop vaccines employing nasal drug delivery technology, with a number of them presently in clinical trials.
Nasal Drug Delivery Technology Market is segmented into dosage form, containers, systems, therapeutic application, end-user, and geography.
Dosage form segment is segmented into Nasal Spray, Nasal Drops and Liquids, Nasal Gels, and Nasal Powders.
The container segment is segmented into Non-Pressurized Containers and Pressurized Containers.
Systems segment is segmented into multi-dose, bi-dose, unit dose.
The therapeutic application segment is segmented into Allergic and Non-Allergic Rhinitis, Nasal Congestion, and Vaccinations.
The end-user segment is segmented into hospitals and home health care.
Geographically, Nasal Drug Delivery Technology Market is sub-segmented into North America, Europe, Asia-Pacific, Middle East, and Africa, and South America and insights are provided for each region and major countries within the regions.
In 2017, North America led the market with a revenue share of 36.21 percent. This expansion was linked to increased illness prevalence as well as consumer knowledge of nasal products. According to the CDC, the number of individuals with asthma aged 18 and up in the United States in 2017 was over 20.4 million, accounting for around 8.3 percent of the total population. Furthermore, there were around 6.1 million children under the age of 18 who had asthma. North America's established economies will drive substantial growth over the next few years.
In the future years, Asia Pacific is predicted to have the quickest CAGR of 7.5 percent. This expansion is mostly owing to the availability of effective treatment procedures, significant unmet clinical demands, rising disposable income levels, and increased consumer awareness of these items. Furthermore, the presence of important players in this area, such as Aptar Group, Inc., Sun Pharmaceutical Industries Ltd., and Cipla Inc., is projected to benefit the entire market.
Because of increased R&D activity and rising cigarette usage, Europe is the second biggest market for nasal medication delivery technology. According to the World Health Organization, Europe has the greatest frequency of adult tobacco smoking (28%) and some of the highest rates of teenage tobacco usage.
Key players in Nasal Drug Delivery Technology Market are Merck & Co., Inc., Novartis AG, GlaxoSmithKline PLC, Johnson & Johnson Services, Inc., Pfizer Inc., AstraZeneca PLC, Aptargroup, Inc., Aegis Therapeutics LLC, 3M, Becton, Dickinson, and Company.
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Report Feature |
Descriptions |
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Market Revenue In 2021 |
USD 64.20 billion |
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Growth Rate |
CAGR of 6.5% during the forecasting period, 2021-2028 |
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Historical Data |
2018-2019 |
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Forecast Years |
2021-2028 |
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Base Year |
2020 |
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Units Considered |
Revenue in USD billion and CAGR from 2021 to 2028 |
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Report Segmentation |
Product, Application, End-User, and Geography |
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Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
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Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and the Middle East and Africa |
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Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
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Companies Profiled |
Merck & Co., Inc., Novartis AG, GlaxoSmithKline PLC, Johnson & Johnson Services, Inc., Pfizer Inc., AstraZeneca PLC, Aptargroup, Inc., Aegis Therapeutics LLC, 3M, Becton, Dickinson and Company |
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Available Customization |
In addition to the market data for Nasal Drug Delivery Technology Market, Delvens offers client-centric reports and customized according to the company’s specific demand and requirement. |
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