Global Nasal Drug Delivery Technology Market Outlook 2030

The global market size of nasal drug delivery technology in 2021 is estimated to be worth ~USD 50 billion and is expected to grow at a CAGR of 7% during the forecast period 2022-2030. Increasing preference for alternative drug delivery methods is one of the main factors that are expected to drive market growth during the forecast period. It is expected that the increase in the incidence of chronic diseases will also help the expansion of the market in the next few years.According to a 2017 study published on the Research and Development (RAND) Review Blog, approximately 60% of American adults suffer from at least one chronic disease, resulting in huge expenditures on healthcare each year. In addition, nearly 30 million Americans suffer from five or more chronic diseases. In addition, the commercialization of new products and a strong product portfolio are expected to drive market growth.

For example, Eli Lilly has developed a therapeutic aerosol (intranasal glucagon) for the treatment of hypoglycemia. This product is under review and is expected to be approved in the U.S. and Europe in 2019. In addition, NATESTO, developed by Endo Pharmaceuticals Inc., was approved for Testosterone Replacement Therapy (TRT) in 2014 and commercialized in 2015.

This product is the first and only gel to be injected into the TRT nasal cavity in adult men diagnosed with hypogonadism. In addition, due to increased awareness of these products, patients; preference for nasal products, as well as their efficacy and ease of management characteristics, are expected to drive market growth. Due to oral medications. These benefits help provide greater patient comfort, thereby improving medication compliance. According to research led by Binghamton University, State University of New York, in August 2018, Narcan (naloxone), a one-step nasal spray, is the easiest product to manage.

DOSAGE FROM INFORMATION:

According to the dosage form, the market is divided into nasal sprays, drops, gels and powders. Due to the increasing incidence of infections and allergic rhinitis, and the growing demand for aerosol generic drugs, aerosols led the market in 2017. According to the “Healthy People 2020” issued by the Office of Disease Prevention and Health Promotion in 2016, there are differences in asthma mortality and morbidity, especially among ethnic minorities and low-income groups, causing people to tend to more profitable choices.

It is estimated that during the forecast period, it is the fastest-growing part of the drug form, with a compound annual growth rate of 7.9%. This growth can be attributed to the affordability of these products and the success rate of treatment. Increasing demand for self-management and increased patient compliance may also drive the growth of market segments. In addition, various declining availability in the market is expected to contribute to the growth of this segment in the next few years.

CONTAINER TYPE INFORMATION:

According to the container type, the nasal drug delivery system market is divided into pressurized containers and non-pressurized containers. Unpressurized is the largest container type segment in 2017. These containers are commonly used for nose drops, powders and gels.

The increase in demand for related products is expected to promote the development of this market segment during the forecast period. In addition, according to an article published by Intertek Group PLC, nasal drug delivery technology allows systemic or topical drug delivery, and all these factors are expected to drive the growth of this market segment.

The type of pressurized container is estimated to be the fastest growing segment, with a compound annual growth rate of 8% during the forecast period. These containers are mainly found in nasal sprays. Due to the increasing prevalence of chronic diseases such as asthma, diabetes and cardiovascular disease (CVD), high demand for nasal sprays is expected to drive the growth of this segment.

TREATMENT APPLICATION INFORMATION:

According to the treatment application, the market is divided into nasal congestion, rhinitis, asthma, etc. Due to the availability of effective products to treat diseases, the asthma sector had the largest share in 2020.

It is estimated that it is also the fastest growing part during the forecast period, with a compound annual growth rate of 7.0%. The increase in the global prevalence of asthma is expected to drive the growth of this segment.

According to the 2018 Global Asthma Report released by the Global Asthma Network, about 330 million people have asthma. In addition, in 2016, a special research project "Global Burden of Disease " of the Institute of Health Metrics and Evaluation estimated that approximately 420,000 people died from asthma. In 2018, according to a study published by the National Institutes of Health at the National Library of Medicine in the United States, the prevalence of asthma in South Korea has remained high, especially among women and the elderly.

REGIONAL INFORMATION

North America led the market with 35% revenue share in 2020. This increase is attributed to the higher prevalence of diseases and consumer awareness of nasal products. According to the CDC, in 2017, the number of adults aged 18 and over suffering from asthma in the United States was approximately 20.4 million, accounting for approximately 8.3% of the country;s total population. In addition, the number of children under 18 with asthma is approximately 6.1 million.

Due to the developed economies in the region, North America will achieve strong growth in the coming years. It is expected that the compound annual growth rate of the Asia-Pacific region will reach 7.5% in the next few years. This growth is mainly due to the availability of effective treatments, unmet clinical needs, rising levels of disposable income, and increased awareness of these products. In addition, the presence of major companies in the region, such as AptarGroup, Inc.; Sun Pharmaceutical Industry Co., Ltd.; and Cipla Inc., is expected to have a positive impact on the overall market.

MARKET SEGMENTS COVERED BY THE REPORT:

This report forecasts global, regional and national revenue and sales growth, and analyzes the latest industry trends in each sub-segment from 2022-2030. For the purpose of this study, Kenneth Research segmented the global nasal drug delivery technology market report based on dosage form, container type, therapeutic application and region: dosage form perspective (revenue, billions of dollars, 2022-2030) SprayDropsGelPowderContainer Type Outlook (revenue , Billion US dollars, 2022-2030) Compression non-compression therapy application outlook (revenue, billion US dollars, 2022-2030) Nasal congestion, rhinitis, asthma, others.

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Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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