Nasal Drug Delivery Technology Market

Nasal Drug Delivery Technology Market Outlook 2031 

The Nasal Drug Delivery Technology Market was USD 55.47 Billion and is likely to reach USD 96.95 Billion by 2031, expanding at a CAGR of 6.4% during 2023 – 2031. The growth of the market is attributed to the rising preferences for alternative sources of administration with respect to nasal drugs.

Nasal drug delivery is a process in which the drugs are insufflated to the nose of the host. There are two main routes of administration which are followed here, either the systematic administration which affects the entire circulatory systems or the topical administration which affects the particular target of the body mainly the nasal system of the host. Nasal drugs can be used in different applications such as migraine drugs, nicotine replacement, hormone treatments, medications for seizure emergencies, and decongestants for allergy & cold treatments.
 

Get Free Sample Report

According to the World Health Organization or the WHO, along with the Research and Development Review board, in 2017, 60% of American adults and 54% across the globe have multiple chronic conditions regarding nasal diseases every year. In 2020, this figure has reached 80% in America and over 70% across the globe due to the coronavirus impact.

The COVID-19 pandemic has fueled the growth of the global nasal drug delivery technology market. The coronavirus mainly spread from the nasal cavities of patients and doctors found that there was a direct correlation between the treatment of coronavirus to that of the nasal drug delivery system. This steered to hospitals, clinics, and healthcare laboratories to focus more on the development of nasal drug delivery technology for the prevention and treatment of diseases.

Market Trends, Drivers, Restraints, and Opportunities

• Increase in spending and investing by the companies towards nasal drug delivery technology is the primary reason for the projection of boosting the market growth during the forecast period, 2021-2028.
• Rapid growth of the biopharmaceutical companies and thereby that industry can become a major factor in the boosting of the global nasal drug delivery technology market during the forecast period.
• High prices for the development of nasal drug delivery technology and high cost of services from the company’s perspective is anticipated to hinder the global market growth.
• Nasal drugs when used in high dosages, especially with no medical inspection can lead to addiction which leads to complicated nasal disorders such as difficulty in breathing and asthma. This uncertainty can hamper the nasal drug delivery technology market growth.
• R&D investment and technological advancement are expected to offer significant opportunities for the market players. Due to the COVID pandemic, the nasal drug delivery needed to increase their commercialization processes towards new & novel products, such as therapeutic sprays which helps in the diagnosis of blood sugar.

Scope of Nasal Drug Delivery Technology Market Report

The report on the global nasal drug delivery technology market size includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Global Nasal Drug Delivery Technology Market Segment Insights

Spray segment is projected to represent a large market share

Based on dosage sprays, the global nasal drug delivery technology market is divided into spray, drops, gel, and powder. The spray segment is expected to constitute the major share in 2019. The major reason attributing to this market growth is the due to the rising prevalence of allergic & infectious rhinitis and the increasing demand of multiple generic forms of nasal spray drugs.

Meanwhile the drop segment is anticipated to grow with a significant CAGR of 7.8% during the forecast period, 2021-2028, owing to the treatment success rates achieved by the nasal drops along with the affordability of this product, especially in developing economies.

Get Free Sample Report

Non-pressurized segment is estimated to register a huge market share

On the basis of container types, the global nasal drug delivery technology market is bifurcated into pressurized and non-pressurized. The non-pressurized segment is expected to constitute the major share of the market in 2019. This is attributed to the increasing demand for these related products along with the latest developments that has been focused upon this segment.

Meanwhile the pressurized segment is anticipated to grow with a significant CAGR of 7.6% during the forecast period, 2021-2028, owing to the rising incidences of nasal diseases, especially during the COVID pandemic for which pressurized containers are more advisable to use, even for various non-nasal diseases such as diabetes and cardiovascular diseases.

Asthma segment is anticipated to register a huge market share

Based on the therapeutic applications, the global nasal drug delivery technology market is segmented into nasal congestion, rhinitis, asthma, and others. The asthma segment is expected to constitute the major share of the market in 2019 and is estimated to grow with a significant CAGR of 6.9% during the forecast period, 2021-2028. The major reason attributing to this market growth is the rising incidences of asthma throughout the globe.

The Globe Asthma Report stated that over 330 million people across the globe suffer from asthma and this figure found an exponential increase due to the coronavirus spread. Researchers and scientists have focused solely on the better treatment, diagnosis & cure for asthma along with the correlation between the coronavirus & its impact to asthma patients.   

Get Free Sample Report

 North America is anticipated to dominate the market

On the basis of regions, the global nasal drug delivery technology market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to constitute a major share in 2020. This regional market growth can be attributed to the growing research & development expenditure along with the rising in adoption of the latest technology.

The demand of nasal drug delivery technology is increasing rapidly in this region due to the presence of the major market players in the nasal drug delivery technology market, an advantage other regions do not have. The cost of expenditure is significantly lower in North America than that of other economies. However, the market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period, 2021-2028, as they have prioritized the cost-efficiency perspective of Nasal Drug Delivery Technology combined with their growing population.

Get Free Sample Report

Segments

The global nasal drug delivery technology market size has been segmented in terms of

Dosage Sprays

• Spray
• Drops
• Gel
• Powder

Container Types

• Pressurized
• Non-pressurized

Therapeutic Applications

• Nasal Congestion
• Rhinitis
• Asthma
• Others

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• GlaxoSmithKline plc
• AstraZeneca plc
• Pfizer Inc.
• OptiNose Inc.
• Becton, Dickinson and Company
• Promius Pharma
• LLC
• Cadila Pharmaceuticals Ltd.
• B.F Ascher and Company Inc.
• PendoPharm Inc.
• Douglas Pharmaceuticals Ltd.
• ENT Technologies Pty Ltd.
• NAVEH Pharma Ltd.

Competitive Landscape

Major players competing in the global nasal drug delivery technology market are GlaxoSmithKline plc; AstraZeneca plc; Pfizer Inc.; OptiNose Inc.; Becton, Dickinson and Company; Promius Pharma; LLC; Cadila Pharmaceuticals Ltd.; B.F Ascher and Company Inc.; PendoPharm Inc.; Douglas Pharmaceuticals Ltd.; ENT Technologies Pty Ltd.; and NAVEH Pharma Ltd. These market players are involved in several business strategies such as mergers, acquisitions partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.

OptiNose Inc announced their pipeline project for the five year contract with the Research Council of Norway in 2016 and now renounced the deal to another five years. The primary thesis was to monitor and diagnose the nose-to-brain application, but in the renounced contract, OptiNose Inc wanted to include the coronavirus impact and its further implications along with the treatment program.