The nasal drug delivery technology market was estimated to be worth USD 62 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.25% from 2021 to USD 101 billion by 2028.
Nasal drug delivery technology is the supervision of a drug via the nasal path. The growing preference by patients for nasal drug as an option for better efficiency and easy to administrate. The increased preference of self-use practice is one of the major reasons influencing the growth of nasal drug delivery technology market size. Furthermore, there has been a substantial increase in sale of over-the-counter nasal spray drugs and the increased focus on substitute ways of drug delivery are reasons effecting the market growth.
The growing occurrences of chronic diseases is likely to influence the growth of nasal drug delivery technology market size. The continuous product innovation, many products in pipeline and mergers and collaboration activities are some factors that help in growth of nasal drug delivery technology market across the map. At the same time, issues due to excessive usage of nasal sprays may restraint the growth of nasal drug delivery technology market. Furthermore, there is a threat of local side effects and reduced bioavailability are also factors hampering the market growth.
The nasal drug delivery technology market is categorized on the basis of dosage form, end user, system, therapeutic application, container, and region. With respect to therapeutic application, it is categorized as allergic and non-allergic rhinitis, vaccination, nasal congestion and others. Among these the sectors of allergic and non-allergic are likely to register maximum growth during the forecast years. The growth in the segment is due to the growing occurrences of allergic and non-allergic rhinitis and the instant relief being offered by nasal drugs.
Based on dosage the market is categorized as drops and liquids, sprays, nasal powders and nasal gels. During the forecast period nasal sprays are likely to reach the largest market share. The largest share of the market segment is due to the reduced irritation caused owing to dust and pollen at cost effective factor of nasal sprays and usage of large doses of drugs.
Based on region the nasal drug delivery technology market trends indicate that market is categorized as North America, Asia, Europe, and Rest of the World. Among these categories North America is further categorized as U.S. and Canada, wherein Europe is further divided as Germany, France, U.K. and Rest of Europe (ROE). Asia is further divided into China, Japan, India and Rest of Asia. Among the regions North America is predicted to dominate the market share which would be closely followed by Europe. Growth in these regions is owing to the increased number of chronic obstructive pulmonary disease (COPD) patients. Nasal drugs are preferred by people owing to the quick action and ease of availability in the major markets. Asia is expected to grow at the highest rate owing to the increased and advanced continuous research & development activities.
The Key players in nasal drug delivery technology market size are Johnson and Johnson Services, Pfizer, AstraZeneca plc, Merck & Co and many others.
Nasal Drug Delivery Technology Market Scope:
|Revenue forecast in 2030
|USD 70.98 billion
|CAGR of 7.55% during 2022-2030
|By container type,By Therapeutic Application,By Region
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Aerocrine, AptarGroup, AstraZeneca, Boehringer Ingelheim, Cipla, Coloplast, GlaxoSmithKline, Johnson & Johnson, Lonza Group, Novartis, Pfizer, Sanofi
The various segments of nasal drug delivery technology market size are,
By Therapeutic Application:
- Non-allergic rhinitis
- Nasal congestion
- Drops and liquids
- Nasal Powders
- Nasal gels
- North America
- Rest of the World