The nasal drug delivery market is enhanced by the high demand for these drugs as more people continue to have respiratory problems due to increasing population
Covid-19 Impact & Market Status
The COVID-19 has had a severe influence on economies and companies in a number of nations due to travel bans and company closures. The closure of numerous facilities and factories has had a significant impact on global supply chains, delivery schedules, impacting manufacturing, and product sales on a global scale. The nasal medication delivery market, like most other markets, was significantly damaged, and the sector's development was slowed due to lower demand for nasal pharmaceuticals during this era, when everything came to a halt.
Drops and Liquids segment to be in High Demand
Due to the affordability and treatment success rates of these liquid drugs, the drops and liquids category now generates the biggest revenue share in the market and is predicted to remain in this manner over the study period. Self-administration is becoming more popular, and patient compliance is improving which further helps the market to grow. Furthermore, the market's availability of various nasal drops and liquids is projected to contribute to the segment's rise in the future years.
COPD segment to earn Highest Revenue
Because of the growing use of nasal medication delivery services to combat the rising number of patients, the chronic obstructive pulmonary diseases (COPD) segment now generates the biggest revenue share in the market and is likely to continue in this manner over the study period. Also, the COPD patients require inhalers for their medication which has led to growth of the market.
Retail Pharmacies segment to remain Atop
The retail pharmacies segment now generates the biggest revenue share in the market and is likely to do so over the study period due to increased demand for nasal medicines with an increasing number of patients and the simplicity with which these products are available in retail pharmacies. Hospital pharmacies segment is also growing at a rapid pace due to high number of patients who are admitted with respiratory problems.
North America to Dominate the Market
North America currently has the highest revenue share in the market and is expected to maintain this position throughout the analysis period as a result of product releases, improved technology, and innovation, increased adoption of early treatment techniques, and rising prevalence of asthma and chronic obstructive pulmonary disease. As chronic obstructive pulmonary disease (COPD) is the third greatest cause of death in the United States, the rising prevalence of COPD could aid in the adoption of nasal drug delivery systems.
Asia Pacific is predicted to rise at the rapid pace during the analysis period due to the availability of efficient treatment approaches, significant unmet clinical needs, rising disposable income levels, and increased knowledge about these goods.
The market’s rise is also expected to be aided by factors like development of new technological nasal drug delivery services and the rising use of inhalers.
Nasal medication delivery is utilised to address issues such as sluggish drug absorption, degradation before reaching the target site, and low bioavailability. Rather than operating as a drug delivery route, the purpose of nasal airway technology is to protect the lungs from dangerous interactions.
During the research period, the nasal medication delivery market is expected to rise at a CAGR of 6.88 percent, from 51.6 USD billion in 2022 to around 95.38 USD billion in 2029.
The nasal drug delivery market will increase rapidly as a result of rising patient preference for nasal medication delivery due to ease of administration and efficacy, rising self-administration habits, and rising demand for home healthcare equipment. Furthermore, when compared to other methods, the nasal route creates a less hostile environment, allowing for improved medication absorption.
Furthermore, rising healthcare costs and a growing need for painless drug administration are two major aspects that will propel the market forward. Similarly, an increase in the number of people suffering from respiratory ailments like asthma and others would promote market development. Rapid urbanisation, changing lifestyles, and increased disposable incomes in emerging and developed nations will all affect the nasal medicine delivery market's growth pace. However, the market is restrained by the expiration of several drug patents and drug side effects such as nausea, discomfort, and infections.
Due to the enormous demand, the market is flooded with competitors, including Aptar Pharma, Neurelis Inc., Pfizer Inc., Merck & Co., Noble International, and others.
Latest Innovations in the Nasal Drug Delivery Market: A Snapshot
- In March 2021, Aptar Pharma and Noble stated that they were collaborating with dne pharma to provide proficient nasal drug delivery and training solutions in order to treat opioid overdose. Ventizolve is a ready-to-use rescue medication that uses Aptar Pharma's patented Unidose Liquid System to immediately reverse the life-threatening symptoms of an opioid overdose.
Nasal Drug Delivery Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 95.38 billion|
|Growth Rate||CAGR of 6.88% during 2021-2028|
|Segment Covered||Dosage Form, Application, Distribution Channel, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Aptar Pharma, Neurelis Inc., Pfizer Inc., Merck & Co., Noble International & among others.|
Key Segments of the Nasal Drug Delivery Market
Dosage Form Overview, 2022-2029 (USD Billion)
- Drops and Liquids
Application Overview, 2022-2029 (USD Billion)
- COPD (Chronic Obstructive Pulmonary Disease)
Distribution Channel Overview, 2022-2029 (USD Billion)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Regional Overview, 2022-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa