The global Nasal Drug Delivery Market size is prognosticated to reach USD 81.85 billion by 2026 attributable to the increasing number of the patient population and the rising prevalence of pulmonary disorders worldwide. This information is provided in a recently published report by Fortune Business Insights™ titled, “Nasal Drug Delivery Market Size, Share and Global Trend By Type (Dry Powder Inhalers (DPIs), Metered Dose Inhalers (MDIs), and Nebulizers), By Application (Asthma, Chronic Obstructive Pulmonary Disease (COPD), and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) and Geography Forecast till 2026.” As per the report’s description, the market size was USD 46.34 billion in 2018 and is likely to exhibit a CAGR of 7.5% between 2019 to 2026.
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Leading Players operating in the Nasal Drug Delivery Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Consort Medical plc. (United Kingdom)
- Teva Pharmaceutical Industries Ltd.
- H&T Presspart Manufacturing Ltd.
- 3M
- GOFIRE INC.
- Nemera
- AptarGroup, Inc. (United States)
- Vectura Group plc (United Kingdom)
- Others
Market Drivers:
Rising Awareness About Nasal Spray and its Benefits will Help Market Gain Impetus
The increasing prevalence of respiratory disorders among people is a major factor boosting the Nasal Drug Delivery Market growth. Additionally, the increasing prevalence of asthma and chronic obstructive pulmonary disease (COPD) cases is also aiding to the expansion of the market for pulmonary drug delivery devices. Besides this, analyst at Fortune Business Insights™ says, “The increasing patient population and the rising demand for inhalers are encouraging companies to set up new manufacturing units. This is further expected to drive the overall market in the forecast period.”
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On the flipside, lack of awareness about inhalers along with their usage, especially amongst the older population may cause hindrance to the overall market. Nevertheless, the rising awareness about the benefits of DPIs and MDIs is expected to help increase their popularity in the market. This, as a result, will give significant impetus to the market in the long run.
Competitive Landscape –
Demand for Nasal Drug Products to Fuel as Companies Focus on Launching Eco-friendly Inhalers
Manufacturers of the intranasal drug delivery devices are focusing on new product launches to stand out in the market competition and are therefore investing huge sums into research and development for the same. In addition to this, companies are trying to launch environment-friendly inhalers for COPD and asthma patients. They are also promoting advanced technologies by introducing software and advanced services for enhanced user experience. Most of the startup companies in this market are trying to implement applications of agglomerated vesicle technology, particle engineering, nanotechnology, and others for delivering medications to COPD and asthma patients.
Segmentation:
By Type
- Dry Powder Inhalers (DPIs)
- Metered Dose Inhalers (MDIs)
- Nebulizers
By Application
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
- Others
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region
- North America (the U.S. and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC, and the Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico, and the Rest of Latin America)
Reasons to Purchase this Report:
- Comprehensive analysis of the Nasal Drug Delivery Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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KEY QUESTIONS ANSWERED:
- What are the key technological and Nasal Drug Delivery Market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- Why Choose Fortune Business Insights?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Nasal Drug Delivery Market growth?
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