Nasal Drug Delivery Technology Market is Projected to Grow at a CAGR of 7.5% by 2033: Visiongain
As per the report by Visiongain, the Nasal Drug Delivery Technology Market was valued at US$71.0 billion in 2022 and is projected to grow at a CAGR of 7.5% during the forecast period 2023-2033.
Visiongain has published a new report entitled Nasal Drug Delivery Technology 2023-2033: Forecasts by Containers (Pressurized Containers, Non-pressurized Containers), by System (Nasal Bi Dose, Nasal Multi Dose, Nasal Unidose), by Dosage Form (Nasal Spray, Nasal Drops and Liquid, Nasal Gels, Nasal Powders, Others), by Application (Respiratory Diseases (Allergic Rhinitis, Nasal Congestion, Asthma, Others), Non-respiratory Diseases (Alzheimer’s, Cardiovascular Disorders, Neuropsychiatry, Others)), by End-users (Home Health Care, Hospitals, Specialty Clinics, Vaccination Centres, Ambulatory Surgical Centres, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis
Nasal drug delivery technology has become one of the most popular drug delivery methods among patients and healthcare professionals as a result of increased patient preference for nasal medication delivery due to ease of administration, improved efficacy, and increased acceptance of self-administration practices. Compared to parenteral and oral administration methods, nasal medication delivery has a number of benefits. One of the key benefits of nasal drug delivery is how quickly it begins to work and absorb. For treating acute diseases that necessitate initiating treatment right away, this is extremely helpful. Moreover, the demand for efficient nasal medications is anticipated to increase due to the rising prevalence and incidence of respiratory diseases around the world as a result of numerous factors such as pollution, unhealthy lifestyles, and cigarette use. In order to effectively treat a variety of illnesses, including allergic rhinitis, nasal congestion, migraines, and pain management, drugs are frequently administered through the nose.
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How has COVID-19 had a Significant Positive Impact on the Nasal Drug Delivery Technology Market?
The COVID-19 pandemic has had a positive impact on the nasal drug delivery technology market worldwide. Nasal drug delivery devices were utilised at home more often than in clinics or hospitals. More people are turning to nasal inhalers to manage ailments like asthma, migraines, and other mental problems. Since the COVID-19 outbreak, there has been a noticeable rise in the use of nasal sprays among those who are more health conscious. With the COVID-19 virus primarily affecting the respiratory system, there has been an increased demand for nasal drug delivery products, particularly for the delivery of antiviral drugs and vaccines. This has led to increased combined R&D initiatives undertaken by pharmaceutical companies and clinical research organisation for the development of more effective and fast-acting nasal vaccines that can be administered with minimal side effects. The development of vaccinations using nasal drug delivery technology has also been a focus of various pharmaceutical companies, and several of these vaccines are currently undergoing clinical testing. Many of the nasal COVID-19 vaccines have been approved by drug regulatory bodies in various countries.
How will this Report Benefit you?
Visiongain’s 398-page report provides 145 tables and 251 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the nasal drug delivery technology market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for nasal drug delivery technology .Get financial analysis of the overall market and different segments including containers, system, dosage form, application, end users and capture higher market share. We believe that there are strong opportunities in this fast-growing nasal drug delivery technology market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Growth in Chronic Respiratory Diseases
The prevalence of respiratory illnesses has increased during the past several years. Some of the main causes of the rise in these illnesses and respiratory infections are sudden climate change, rising pollution, and a decline in immunity brought on by a sedentary lifestyle. Chronic respiratory conditions include COPD, asthma, pneumoconiosis, pulmonary sarcoidosis, and interstitial pulmonary disease. These disorders have a significant socioeconomic impact on society and governments. Since many years, both in children and adults, acute lower respiratory tract infections have consistently been included in the top three causes of death and disability. In developing countries, respiratory ailments make up over 80% of all illnesses. COPD affected 200 million people worldwide in 2022.Compared to significant lifestyle conditions including hypertension, hypercholesterolemia, and others, COPD has a higher incidence rate. The number of people suffering with chronic respiratory illnesses has increased by about 40% during the last 20 years. Asthma in youngsters is also becoming more prevalent worldwide.
The necessity for novel drug treatments and their associated effective routes of delivery is anticipated to increase due to the growing prevalence of these target conditions globally and growing public awareness of the importance of early detection and treatment.
Advancement in Technology to Boost Industry Growth
Advancements in technology and the launch of advanced nasal drug delivery devices are anticipated to boost market growth in coming years. Multidose nasal devices owing to their ability to enable users to consume more of the product from the same container in a larger volume and at a lower cost than single-dose nasal spray bottles, are growing in popularity. Throughout the course of the forecast period, it is predicted that the market for nasal drug delivery technologies would rise as a result of new product development and approvals in multidose nasal devices. For instance, the first metal-free, recyclable multidose nasal spray pump for nasal saline and other over-the-counter pharmaceutical items, APF Futurity, was introduced by Aptar Pharma in 2023.
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Where are the Market Opportunities?
Nasal drug delivery has become one of the most convenient ways to take drugs. Due to the fact that patient outcomes have improved as a result of making pharmaceuticals and therapies more accessible to patients, making them simpler to use, and enabling their access to the care they require, it is projected that the market will rise. Increased R&D spending and strategies for the development of innovative nasal medication therapies, especially for conditions unrelated to the respiratory system, are other factors that affect market growth. For instance, Pfizer released the nasal spray Zavzpret (zavegepant) in 2023 to effectively treat migraines. Similar to that, it was claimed to help those with Alzheimer’s. An Osaka City University research team claimed to have achieved remarkable findings for the clinical testing of an anti-nasal Alzheimer’s spray in 2022.
The major players operating in the nasal drug delivery technology market are AptarGroup, Inc, AstraZeneca PLC Bayer AG, Becton, Dickinson, and Company., Dr. Reddy’s Laboratories Ltd., Flo Nasal Solution., GlaxoSmithKline PLC, H&T Presspart, Johnson & Johnson, Merck & Co., Inc., Naveh Pharma Ltd, Nemera, Novartis AG, Neurelis Inc, OptiNose, Inc, Pfizer Inc., PendoPharm Inc., Recipharm AB, Teleflex, Inc., Teva Pharmaceutical Industries Ltd. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
- In March 2023, the U.S. Food and Drug Administration approved Pfizer Inc’s ZAVZPRE (zavegepant), the first and only calcitonin gene-related peptide (CGRP) receptor antagonist nasal spray for the acute treatment of migraine with or without aura in adults. The FDA approval of ZAVZPRET marks a significant breakthrough for people with migraine who need freedom from pain and prefer alternative options to oral medications.
- In January 2023, Aptar Pharma, part of AptarGroup launched APF Futurity, its first metal-free, multidose nasal spray pump developed to deliver nasal saline and other comparable over the counter (OTC) formulations.
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To find more Visiongain research reports on the Pharma sector, click on the following links:
- Therapeutic Respiratory Devices Market Report 2023-2033
- Respiratory Inhalers Market Report 2023-2033
- Asthma & COPD Therapies Market Report 2023-2033
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Visiongain is one of the fastest growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
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