Yahoo Finance Global Nasal Drug Delivery Technology Market is projected to grow at a CAGR of 9.0% By 2032: Visiongain Research Inc
Visiongain has published a new report entitled the Nasal Drug Delivery Technology Market Report 2022-2032. It includes profiles of Nasal Drug Delivery Technology and Forecasts Market Segment by Containers (Non-Pressurized Containers, Pressurized Containers) Market Segment by System, (Nasal Unidose Devices, Nasal Bi Dose Devices, Nasal Multi Dose Devices) Market Segment by Dosage Form, (Nasal Spray, Nasal Drops and Liquids, Nasal Gels, Nasal Powders, Other Dosage Form) Market Segment by End-User, (Hospitals, Home Health Care, Ambulatory Surgery Centre, Specialty Clinics, Vaccination Centres, Other End-User) Market Segment by Respiratory Diseases, (Allergic Rhinitis, Nasal Congestion, Asthma, Other Respiratory Diseases) Market Segment by Non-Respiratory Diseases, (Alzheimer’s, Cardiovascular, Neuropsychiatry Treatments, Other Non-Respiratory Diseases) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
The global nasal drug delivery technology market was valued at US$48,087 million in 2021 and is projected to grow at a CAGR of 9.0% during the forecast period 2022-2032.
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What are the current market drivers?
The Need for Generic Inhalation and Nasal Spray Drugs Is Increasing Owing to Rise in Geriatric population
Over the next several years, more inhalers and nasal sprays are anticipated to enter the generic market. Individuals are expected to gravitate toward more generic products as more patients are diagnosed with restrictive respiratory disorders such as asthma and chronic obstructive lung disease, and overall health care remains expensive. The generic market forecast for prescription treatments for respiratory disorders is consistently encouraging, and the cheap cost of generic drugs provides significant potential for expansion in this lucrative business. In the coming years, there will be a surge in demand for these generic prescription drugs. The generic business as a whole has undergone tremendous expansion primarily due to patent expirations, which has opened new avenues for the generic’s versions. The inhalation and nasal medication spray markets, in particular, are expected to expand significantly.
Growing Adoption of Nasal Spray Is Being Driven by The Development of Advanced Inhalation and Nasal Spray
The intranasal medication delivery method has provided potential possibilities for the administration of therapeutic drugs in recent decades. They are portable since they are battery-powered and do not require an external power source. Furthermore, dry powder inhalers spread medications in the form of dry particles. Nasal therapy is currently being used to treat chronic respiratory disorders such as COPD and asthma. Inhaled medicinal substances are commonly used to treat COPD, asthma, and other respiratory illnesses. Throughout COPD patients, dry powder nasal inhalers are used to maximize drug dispersion in the system while preventing toxicity.
How has COVID-19 had a significant negative impact on the Nasal Drug Delivery Technology Market?
COVID-19 pandemic reported a positive impact on Nasal Drug Delivery market since many patients preferred undertaking their chronic respiratory disease drug therapy from home thereby propelling the uptake of inhalers from home rather than hospital set ups or OPDs. Also, there was increased uptake of nasal inhalers for treatment of asthma, migraine and other psychological diseases. The pandemic compelled the patients to adopt user friendly modes of drug administration such as nasal drug delivery. Many intranasal drugs were introduced as prophylaxis against COVID-19 including nasal sprays made of povidone-iodine, nitric oxide, ethyl lauroyl arginate hydrochloride and many others. In addition, several pharmaceutical companies ventured into development of vaccines through nasal drug delivery technology and few of them are presently in clinical development phase of which two are live attenuated including one from Codagenix and Serum Institute of India and MV-014-212 from Meissa Vaccines. Moreover, there are two non-replicating viral vectors vaccines including BBV154 from Bharat Biotech International and PIV5-vectored vaccine from CyanVac. There is also one NDV vectored inactivated vaccine from Laboratorio AVi-Mex.
How this Report Will Benefit you?
Visiongain’s 658+ page report provides 368 tables and 366 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global 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 the financial analysis of the overall market and different segments including System, container, end-user and capture higher market share. We believe that high opportunity remains 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 would 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.
Where are the market opportunities?
Emerging Opportunities for Nasal Devices
Nasal inhalation devices are subject to ongoing innovation by pharmaceutical firms and device partners to improve the care and support offered to patients, in addition to their intuitive design. In the case of emergency treatments, for example, training kits that closely mimic the real-life experience of administering a nasal spray have been designed with the goal of improving compliance and lowering mortality risk. Lock-out mechanisms on devices are also being developed to improve patient safety, while the introduction of laterally actuated nasal sprays gives more comfort and simplicity for some patient populations. Dose counters have long been recognised as aiding adherence, and fast technological advancements have expanded on this foundation to build an ecosystem of linked devices that encourage higher adherence in a more "active" way. Connected devices offer a powerful potential to create an ecosystem in which a pharmaceutical firm, a patient, and a healthcare practitioner are more intimately interwoven by monitoring, recording, and exchanging data on usage through the internet.
Nasal Drug Delivery Has Evolved into A Highly Versatile Method of Administration for Locally Acting and Systemic Drugs
Nasal drug delivery has grown into a very adaptable form of administration for locally acting and systemic medications, emergency dosages, and long-term illnesses, as well as prophylactic immunizations and breaking new ground in hard therapeutic areas. The fact that patient outcomes have been improved by providing medications and therapies in a fashion that is more accessible and acceptable to the patient, easing their access to the care they require, is at the heart of all of these different applications. Nasal administration is poised to play an ever-larger thanks to continuing innovation by pharmaceutical firms and their drug delivery partners.
Competitive Landscape
The major players operating in the nasal drug delivery technology market are Becton, Dickinson and Company, GlaxoSmithKline Plc, Johnson & Johnson, Merck & Co., Inc., Pfizer Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., AptarGroup, Inc., AstraZeneca PLC, Presspart Manufacturing, 3M Multinational Conglomerate, Consort Medical plc, Neurelis Inc., PendoPharm Inc., Naveh Pharma 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
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