Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Intranasal Drug and Vaccine Delivery Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2021-2028”
The global intranasal drug and vaccine delivery market size is projected to reach US$ 60 Bn by 2028, with a CAGR of 7.1%during 2021-2028.
The worldwide development of the intranasal drug and vaccine delivery market was motivated by a growing incidence of coronary disease, patent expiration of common medicines, elevated cases of cancer and diabetes, the introduction of self-administration procedures, increasing emphasis on pediatry and elderly and elevated demand for home healthcare products. Many factors expected to fuel this business include accelerated R&D and adoption of new methods and tools of delivery, reformulation of the injections and oral drugs in nasal release formulations, and rapid action. The global intranasal drug supply demand is projected to expand at a substantial rate, thanks to increasing R&D in the sector and the high distribution volume. However, the reimbursement situation is growing and fuelling the global demand for intranasal drug distribution.
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In the other hand, stoppages and reminiscences in drug formulation and technological obstructions could serve as a restriction to market growth. In addition, high prices and a lack of skilled medical specialists are just a few of the most important issues which limit the global intranasal market for drugs.
The market is expected to expand in the forecast era, provided that the industry players are evolving various nasal drug delivery technologies to administer COVID-19 vaccines. For starters, Bharat Biotech started clinical trials on the COVID-19 nasal drop vaccine on 7 April 2021. The organization has partnered with vaccine manufacturer FluGen and the University of Wisconsin-Madison to conduct medical research in the United States.
The demand for intranasal drugs is one of the key drivers in the industry as they are tolerated and non-invasive and thus improve patient compliance. It has contributed to rising technical developments in the delivery of nasal medicines. For example, there is increasing medical support for the treatment of central nervous system diseases via nasal routes. Also at higher doses, the nasal path will reach the blood brain barrier. This provides more needless treatment choices for people with CNS conditions. Nevertheless, the use of nasal products will delay mild complications and side effects of global market development.
Increase the market for intranasal drugs and vaccine distribution systems for non-invasive drug delivery routes for the treatment of infectious disorders such as rhinitis, asthma, migraine and other CNS disorders.
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The global intranasal drug and vaccine delivery market is dominated by North America, as the mode of supply of drugs and better health services in the country is gradually embraced. However, policy programs and people’s increased understanding are two of the key generators of the intranasal drug and vaccine delivery market. Asia, led by Europe, is expected to have a fast growth trend in the intranasal drug distribution industry over the next few years. China and India are predicted to be Asia’s fastest growing market for intranasal medicines. That is because many big corporations in these countries are spending heavily. A large pool of patients expanded government support and enhanced health services are some of the main factors for the intranasal drug distribution industry in developing countries.
Asia Pacific is expected to emerge during the projected timeframe as the fastest growing global market. It was largely due to the growing number of protocols for pharmaceutical production, economic growth, and local players interested in implementing modern drug procurement networks.
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In developing countries such as India and China, the rising populations and economies are projected to offer strong prospects on the global intranasal drug supply market. In addition, increasing R&D is projected to provide strong opportunities for the global demand for intranasal drug delivery, to accelerated research and development of new drug delivery technologies and devices with improved effectiveness. Failure to devise medicines and technological obstacles, though, are two of the main hurdles posed by the global intranasal drug industry. One of the new developments in the worldwide intranasal market for medication distribution involves businesses that are interested in product launches.
Key Players & Strategies
Participants include major global Aegis Therapeutics LLC, AstraZeneca Plc MedImmune, Inc., Alza Corporation, Baxter International, Inc., Becton, Dickinson and Company, GlaxoSmithKline Plc., Johnson & Johnson, Inc., and Others.
In April 2019, in the United States, the FDA licensed Teva Pharmaceuticals’ first generic naloxone nasal spray for opioid overdose.
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