The Global Intranasal Drug Delivery Devices Market size was valued at USD 46.68 billion in 2022 and is projected to expand at a CAGR of 6.7% over the forecast period to reach the valuation of USD 78.43 billion by 2032.
Increasing preference for an alternative mode of drug administration is one of the major factors expected to fuel market growth during the forecast period. The growing incidence of chronic diseases is also expected to contribute to intranasal drug delivery devices market expansion over the coming years.
According to a study published in Research and Development (RAND) Review blog in 2023, around 60% of American adults have at least one chronic condition, which results in huge spending on healthcare every year. Additionally, nearly 30 million Americans live with five chronic conditions or more. Moreover, the commercialization of innovative products and the presence of a robust product pipeline are anticipated to boost the intranasal drug delivery devices market growth.
Request a Sample@ https://www.qyresearchmedical.com/sample/119475
Rising patient preference for nasal products owing to increased awareness about these products, along with their efficacy and easy administration properties, is anticipated to fuel the intranasal drug delivery devices market growth.
Moreover, intranasal drug delivery devices offer benefits, such as non-invasiveness and reduction in lag-time caused due to oral drug delivery. These advantages help in providing better patient comfort, which increases their adherence to the medication. According to a research led by Binghamton University, State University at New York, in August 2018, Narcan (naloxone), a single-step nasal spray, is the easiest product to deliver.
On the basis of dosage forms, the intranasal drug delivery devices market is segmented into nasal spray, gel, drop, and powder. Sprays led the market in 2019 owing to the increasing incidence of infections and allergic rhinitis along with growing demand for generic forms of spray drugs. The nasal drop segment is estimated to be the fastest-growing dosage form segment, with a CAGR of 7.9% over the forecast period. This growth can be attributed to the affordability and treatment success rates of these products. Rising demand for self-administration and increasing patient compliance are also likely to augment the segment growth. Additionally, the availability of a variety of drops in the market is anticipated to contribute to the segment growth over the forecast period.
Based on container type, the intranasal drug delivery device market is segmented into pressurized and non-pressurized containers. Non-pressurized was the largest container type segment in 2019. These containers are usually found in nasal drops, powders, and gels. Growing demand for related products is expected to propel the segment over the forecast period.
All these factors are expected to boost the growth of the intranasal drug delivery device market segment. Pressurized container type is estimated to be the fastest-growing segment at a CAGR of 7.7% over the forecast period. These containers are mostly found in nasal sprays. High demand for nasal sprays due to the increasing prevalence of chronic diseases, such as asthma, diabetes, and Cardiovascular Diseases (CVDs), is anticipated to propel the segment growth.
Based on therapeutic application, the intranasal drug delivery devices market is segmented into nasal congestion, rhinitis, asthma, and others. The asthma segment held the largest share in 2019 due to the availability of effective products for disease treatment. It is also estimated to be the fastest-growing segment with a CAGR of 7% during the forecast period. The increasing prevalence of asthma across the globe is estimated to boost the segment growth.
According to the Global Asthma Report 2018, published by Global Asthma Network, around 330 million people suffer from asthma. Moreover, in 2016, the Global Burden of Disease, a special research project by the Institute for Health Metrics and Evaluation, estimated that around 420,000 died due to asthma.
North America led the intranasal drug delivery devices market with a revenue share of 36% in 2019. This growth was attributed to increased disease prevalence coupled with consumer awareness about nasal products. According to CDC, in 2023, the number of adults with asthma aged 18 years and above in the U.S. was around 20.4 million contributing approximately 8.3% of the total population in the country. Moreover, the number of children under 18 years of age with asthma was around 6.1 million. North America will witness strong growth over the next few years due to developed economies in the region.
Asia Pacific is expected to witness the fastest CAGR of 7.5% in the coming years. This growth is mainly due to the availability of effective treatment methods, high unmet clinical needs, rising disposable income levels, and increasing awareness about these products. In addition, the presence of leading companies, such as Sun Pharmaceutical Industries Ltd.; AptarGroup, Inc.; and Cipla Inc., in this region is expected to have a positive impact on the overall market revenue.
Some of the key companies in the intranasal drug delivery devices market are GlaxoSmithKline PLC; AstraZeneca PLC; Pfizer, Inc.; OptiNose, Inc.; Becton, Dickinson and Company; Promius Pharma, LLC; Cadila Pharmaceuticals Ltd.; B.F. Ascher & Company, Inc.; PendoPharm, Inc.; Douglas Pharmaceuticals Ltd.; ENT Technologies Pty. Ltd.; and NAVEH Pharma Ltd.
Segments Covered in the Report
This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2023 to 2032. For the purpose of this study, has segmented the global intranasal drug delivery devices market report on the basis of dosage form, container type, therapeutic application, and region:
By Dosage Form (Revenue, USD Billion, 2023 – 2032)
- Spray
- Drops
- Gel
- Powder
By Container Type (Revenue, USD Billion, 2023 – 2032)
- Pressurized
- Non-pressurized
By Therapeutic Application (Revenue, USD Billion, 2023 – 2032)
- Nasal Congestion
- Rhinitis
- Asthma
- Others
By Region (Revenue, USD Billion, 2023 – 2032)
- North America
- U.S
- Canada
- Europe
- U.K
- Germany
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
Buy quantitative research Report at discounted price – USD 1500 https://www.qyresearchmedical.com/report/checkout/119475/1500
You can place an order or ask any questions, please feel free to contact [email protected] | +1 9197 992 333
Blog: https://www.novaoneadvisor.com/
Blog: https://www.visionresearchreports.com/
About Us
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us:
URL – http://www.qyresearchmedical.com/
https://www.linkedin.com/company/qyresearch-medical/
https://www.facebook.com/QYResearch-Medical-108186514228917/