Impact Analysis of Covid-19
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Global Nasal Drug Delivery Systems Market, by Dosage Form (Nasal Spray, Nasal Drops, Nasal Gels, Nasal Powders, and Others), By Container Type (Non-pressurized Containers and Pressurized Containers), By System Type (Multi-dose, Bi-dose, and Unit Dose), by Therapeutics Application (Allergic and Non-allergic Rhinitis, Nasal Congestion, Vaccination, and Others), By Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 48.1 billion in 2018, and is projected to exhibit a CAGR of 6.3% over the forecast period (2018 – 2026).
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Nasal drug delivery systems market is expected to witness fastest growth over the forecast period, owing to increasing demand from the pharmaceutical industry. Nasal drug delivery system is a transmucosal drug delivery system, where drug is administered through nasal cavity. Moreover, several studies are conducted to study the systemic bioavailability of drug and on nasal administration of vaccine, peptide and hormonal therapy, and other drugs which are usually delivered by parenteral route.
Additionally, growth of the nasal drug delivery system market is attributed to high advantages of nasal administration and rising number of innovative nasal drug delivery systems developed by market players. Moreover, expanding therapeutic application and increasing regulatory product approvals are the factors that are further expected to drive growth of the nasal drug delivery systems market over the forecast period. For instance, number of pharmaceutical and biopharmaceutical companies are adopting nasal drug delivery system for the treatment of acute migraine, pain management, Alzheimer disease, and others.
Moreover, for instance, in 2016, Lannett Company, Inc. received Abbreviated New Drug Application (ANDA) approval from the U.S. FDA for its Sumatriptan Nasal Spray intended for the treatment of migraine. Similarly, in June 2018, Impax Specialty Pharma, Inc., a specialty pharmaceutical company, received the U.S. FDA approval for Zomig Nasal Spray to treat acute migraine in patients aged 12 years and above. Furthermore, in 2017, FDA approved OptiNose U.S. Inc.’s Xhance, which is a novel combination of drug and device to deliver fluticasone propionate to treat nasal polyps.
Browse Market Data 40 Tables and 38 Figures spread through 180 Pages and in-depth TOC on “Nasal Drug Delivery Systems Market, by Dosage Form (Nasal Spray, Nasal Drops, Nasal Gels, Nasal Powders, and Others), by Container Type (Non-pressurized Containers and Pressurized Containers), by System Type (Multi Dose, Bi Dose, and Unit Dose), by Therapeutics Application (Allergic and Non-allergic Rhinitis, Nasal Congestion, Vaccination, and Others), by End User (Hospitals and Home Care Settings) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
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In addition, key players in nasal drug delivery systems market are focusing on adopting inorganic strategies, in order to strengthen their position in the global market. For instance, in 2014, Endo International plc, acquired Natesto, the first and only testosterone nasal gel till that date, from Trimel BioPharma SRL, indicated for the treatment of hypogonadism via replacement therapy.
Furthermore, in 2015, Eli Lilly and Company acquired Locemia’s intranasal glucagon, which was in phase III clinical testing for the treatment of hypoglycemia. This acquisition strengthened the company’s product portfolio.
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Key takeaways of the Nasal Drug Delivery Systems Market:
- The global nasal drug delivery systems market is expected to exhibit a CAGR of 6.3%over the forecast period (2018-2026), attributed to increasing regulatory approvals for nasal drug delivery systems
- Among dosage form, nasal spray segment is expected to hold a dominant position in the market, owing to large number of products offered in this segment, coupled with increasing research to launch new products in this segment
- Key players operating in the global nasal drug delivery systems market include Merck & Co., GlaxoSmithKline plc, AstraZeneca plc, Johnson & Johnson, Pfizer Inc., Baxter International, Inc., Valeant Pharmaceuticals International, Inc., Becton, Dickinson and Company, and Novartis AG, among others
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