Nasal Drug Delivery Market to Witness a Healthy Growth in Coming Years
Increasing prevalence of various respiratory disorders and demand for non-invasive techniques are acting as key growth drivers for the global nasal drug delivery market.
According to TechSci Research report, “Global Nasal Drug Delivery Market By Drug Type (Antihistamines, Corticosteroids, Anesthetics, Antibiotics, Pain Relief Drugs, Others), By Dosage Form (Sprays, Drops, Powder, Gels & Ointments), By Container Type (Non-Pressurized Containers, Pressurized Containers), By Basis of System (Metered Dose, Multi-Dose, Unit Dose), By Therapeutic Application (Asthma, Chronic Obstructive Pulmonary Disease (COPD), Rhinitis, Cystic Fibrosis, Nasal Congestion), By End User (Home Care Settings, Hospitals, Clinics), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies), By Region, Forecast & Opportunities, 2026”, the global nasal drug delivery market was valued at USD57.18 billion in 2020 and is expected to grow with a double digit CAGR of 11.67% during the forecast period.
The market is primarily driven by increasing prevalence of various respiratory disorders such as asthma, Chronic Obstructive Pulmonary Disease (COPD) and pneumonia around the world coupled with growing patient preference for nasal products. The efficacy and easy administration properties of nasal drugs delivery devices is creating their high demand in the global market. Moreover, development of new and advanced nasal drugs delivery devices and increasing awareness among patients about the benefits of these products are expected to propel the market growth through 2026. Also, the growing demand for non-invasive techniques and less painful treatments are creating profitable opportunities for nasal drug delivery device manufacturers.
Additionally, nasal drug delivery devices provide self-medication, which does not require visit to the doctor and makes it easy for the patients. Thus, with increasing demand for home healthcare devices and growing adoption of self-administration practices, global nasal drug delivery market is poised to undergo a substantial growth during the forecast period.
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The global nasal drug delivery market is segmented based on drug type, dosage form, container type, basis of system, therapeutic applications, end user, distribution channel and region. Based on dosage form, the market can be segmented into drops, sprays, powder, gels & ointments. Among them, sprays segment contributed highest revenue in global market in 2020 owing to growing cases of infections and allergic rhinitis, leading to high demand for generic forms of spray drugs. However, the drops segment is anticipated to undergo the fastest CAGR during the forecast period as they are affordable, and their treatment success rates are high compared to other dosage forms.
Major players operating in the global nasal drugs delivery market are GlaxoSmithKline Plc., Pfizer, Inc., AstraZeneca PLC, Novartis AG, Becton Dickson & Company, Promius Pharma LLC, 3M COMPANY, Johnson & Johnson Services, Inc., Sanofi S.A., Merck & Co., Inc., Cadila Pharmaceuticals Ltd., Aegis Therapeutics, LLC, B.F. Ascher & Company, Inc., ENT Technologies Pty. Ltd. and AptarGroup, Inc. Leading companies are focusing on new product development, and are undergoing joint ventures to increase their share in the global nasal drug delivery market.
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“The presence of major manufacturers and increasing cases of respiratory disorders in countries like United States and Canada are making North America a lucrative market for nasal drugs delivery. The region is further expected to dominate through 2026 owing to advancements in healthcare and launch of new technology equipped nasal drug delivery devices. Though, Asia Pacific is anticipated to witness the fastest CAGR during the forecast period due to increasing patient pool suffering from chronic and respiratory disorders and increasing per capita disposable income,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Nasal Drug Delivery Market By Drug Type (Antihistamines, Corticosteroids, Anesthetics, Antibiotics, Pain Relief Drugs, Others), By Dosage Form (Sprays, Drops, Powder, Gels & Ointments), By Container Type (Non-pressurized Containers, Pressurized Containers), By Basis of System (Metered Dose, Multi-Dose, Unit Dose), By Therapeutic Application (Asthma, Chronic Obstructive Pulmonary Disease (COPD), Rhinitis, Cystic Fibrosis, Nasal Congestion), By End User (Home Care Settings, Hospitals, Clinics), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies), By Region, Forecast & Opportunities, 2026”has evaluated the future growth potential of nasal drug delivery market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global nasal drug delivery market.
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