A few market factors add to the growth and elements of the nasal drug delivery market, forming its direction and impacting key partners.
The rising occurrence of respiratory issues, like asthma, chronic obstructive pulmonary disease (COPD), and sensitivities, energizes the demand for successful and designated drug delivery strategies. Nasal drug delivery gives an immediate course to the respiratory framework, making it a favored decision for treating such conditions.
Nasal drug delivery offers a patient-accommodating option in contrast to customary strategies like infusions. The simplicity of organization and the shortfall of needles make it especially alluring, upgrading patient consistency and treatment experience.
Expanding interests in innovative work by drug organizations to investigate new remedial applications for nasal drug delivery assume a vital part. The attention on creating novel definitions and delivery gadgets compels the market forward, setting out open doors for market players.
The worldwide expansion in the maturing population connects with a higher prevalence of chronic diseases. Nasal drug delivery, with its rationality for old patients, gains visibility as a favored strategy, lining up with the healthcare needs of a maturing segment.
Nasal drug delivery reaches out past respiratory issues, finding applications in diverse restorative regions like headache, hormonal problems, and pain management. The adaptability of nasal drug delivery frameworks widens their market degree and engaging quality.
Nasal drug delivery presents a financially smart arrangement contrasted with specific elective courses of organization. The financial benefit, combined with its restorative advantages, adds to the market's appeal among healthcare suppliers and payers.
Expanding awareness among shoppers with respect to the advantages of nasal drug delivery and its harmless nature emphatically impacts market growth. As patients become more educated, the acknowledgment and demand for nasal drug delivery arrangements are probably going to rise.
Nasal Drug Delivery Market Overview
The nasal drug delivery market was valued at USD 52,998.5 million in 2018 and is projected to reach USD 81.1 Billion at 7.4% CAGR during the forecaast period 2023-2032.
Nasal drug delivery is administration of drug through the nasal track to treat various respiratory problems such as paranasal sinuses, nasal infection, and other nasal problems. It is an effective delivery method for medicines that are active in low doses.
Factors such as the painless drug administration, development of new technological nasal drug delivery devices, and the increasing number of patient population with respiratory problem are expected to drive the market growth. Moreover, nasal drug delivery devices are easily accessible and suitable for self-medication it has received positive response from patient population, clinicians, and pharmaceutical scientists. Â
However, factors such as low bioavailability, nasal irritation, and irreversible damage of cilia of cell is expected to hamper the market growth.Â
Segmentation
The global nasal drug delivery market has been segmented into drug type, dosage form, basis of system, delivery technologies, therapeutic applications, end users, and region.
Based on drug type, the global market has been segmented into anesthetics, antibiotics, pain relief drugs, calcium supplements, vasoconstrictors, antihistamines, and others.
Based on dosage form, the global market has been segmented into drops, sprays, powder, gels, and ointments.
Based on the basis of system, the global nasal drug delivery market has been segmented into unit dose, multi-dose, and metered dose.
Based on delivery technologies, the global market has been segmented into spray, nebulizers, inhalers, and others.
Based on therapeutic applications, the global market has been segmented into rhinitis, asthma, nasal congestion, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and others.
The global market, by end user, has been divided into home care settings and hospitals & clinics.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The nasal drug delivery market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada.
The European nasal drug delivery market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.Â
The Asia-Pacific nasal drug delivery market has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific.
The nasal drug delivery market in the Middle East & Africa has been segmented into the Middle East and Africa. The increasing development in healthcare infrastructure and growing economy in countries such as Kuwait, Iran, Israel, and Iraq drive the market growth in this region. Â
Key Players
GlaxoSmithKline Plc. (UK), AstraZeneca (UK), Pfizer, Inc. (US), Becton Dickson & Company (US), Dr. Reddy’s Laboratories Ltd. (India), Sanofi-Aventis (UK), Merck & Co. (US), Cadila Pharmaceuticals (India), AEGIS THERAPEUTICS LLC (US), Novartis AG (UK) , Johnson & Johnson Services, Inc (US) and 3M COMPANY (US) are some of the key players in the global nasal drug delivery market.
Regional Market Summary
Geographically, the market has been segmented, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is anticipated to dominate the global nasal drug delivery market owing to an increasing prevalence of rhinitis, congestion, sinusitis, and respiratory allergic reactions.
Additionally, the well-developed healthcare sector and presence of a large number of medical device companies in this region boosts the market growth. According to the Centers for Disease Control and Prevention January 2017, 30.8 million adults were diagnosed with sinusitis in the US.
Europe is expected to hold the second-largest position in the global nasal drug delivery market. The presence of a large patient population suffering from chronic disorders, increasing technological advancement in the healthcare industry, and growing mergers and acquisitions between healthcare companies drives the market growth in this region.
Alabama Nasal Drug Delivery Association (ADMEA) is a Europe based non-profit organization involved in providing home medical equipment. The presence of such organization in Europe enhances the market growth during the forecasted period.
Asia-Pacific is expected to be fastest-growing region owing to the growing geriatric population and increasing incidences of allergy diseases, which is a common cause of respiratory problems in developing countries.
The Middle East & Africa holds the least share of the market. A majority of the market share of this region is expected to be held by the Middle East due to growing government initiatives for the healthcare sector in this region.By Drug Type
By Dosage Form
By Basis of System
By Delivery Technologies
By Application
By End User
By Region
Intended Audience
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