According to a Growth Plus Reports study, the global nasal drug delivery market is estimated to hit US$ 108.33 billion by 2030, with a revenue CAGR of 6.10%. The study examines the important strategies, drivers, opportunities, competitive landscape, market dynamics, market size, data and forecasts, and important investment regions.
Key Takeaways:
- The growth in the prevalence of asthma and COPD will drive market revenue growth.
- The increasing use of self-administration drug services will drive demand for nasal drug delivery.
- North America dominates the global nasal drug delivery market.
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Nasal Drug Delivery Market Scope
|
Report Attribute |
Details |
|
Market size value in 2021 |
US$ 63.58 billion |
|
Revenue forecast in 2030 |
US$ 108.33 billion |
|
Growth Rate |
CAGR of 6.1% from 2022 to 2030 |
|
Base year for estimation |
2021 |
|
Forecast period |
2022-2030 |
|
Segments covered |
by type, application, distribution channel, and region. |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Market Drivers
The growth in the prevalence of asthma and COPD will drive the revenue growth of the nasal drug delivery market. Furthermore, increasing patient preference and demand for nasal drug delivery methods will boost the market revenue growth rate. Also, increased use of self-administration drug services, technological advances such as smart nasal drug delivery devices, and ease of access are expected to support the market’s revenue growth.
Market Segmentation
Growth Plus Reports has analyzed the global nasal drug delivery market from four perspectives: Type, Application, Distribution Channel, and Region.
Type Segmentation: Based on the type, the global nasal drug delivery market is segmented into the nebulizer, metered dose inhaler, and dry powder inhaler. The dry powder inhaler segment dominates the market because of its stability, versatility in administering small or large doses, and low sensitivity to microbes.
Application Segmentation: Based on the application, the global nasal drug delivery market is segmented into asthma, chronic obstructive pulmonary disease (COPD), nasal congestion, rhinitis, and vaccination. The chronic obstructive pulmonary disease (COPD) segment dominates the market because COPD is becoming more prevalent in the population.
Distribution Channel Segmentation: Based on the distribution channel, the global nasal drug delivery market is segmented into hospitals, retail pharmacies, and online pharmacies. The hospital pharmacy segment dominates the market because of the high consumption rate due to the increasing respiratory problems and illnesses and high patient footfall.
Regional Growth Dynamics
Based on the region, the global nasal drug delivery market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global nasal drug delivery market with the largest revenue share. Developed healthcare infrastructure, advanced technologies, and increased R&D activities are responsible for North America’s significant revenue share in the global market.
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Competitive Landscape
The key players in the global nasal drug delivery market are:
- Gofire Inc.
- 3M Co.
- Teva Pharmaceutical Industries Ltd.
- Nemera France SAS
- AptarGroup Inc.
- H&T Presspart Manufacturing Ltd.
- Consort Medical Plc.
- Vectura Group Limited
- Merck & Co. Inc.
- Johnson & Johnson Services Inc.
- GSK plc.
- Pfizer Inc.
The market for nasal drug delivery is slightly competitive, with several multinational companies involved. To increase their market share, major companies focus on technological advancements, R&D, mergers, and acquisitions.
Recent developments:
- Aptar Pharma and Noble collaborated with DNE pharma in March 2021 to develop a nasal drug delivery system for treating opioid overdose. This collaboration was formed to enhance Aptar Pharma’s premium drug delivery product portfolio.
- Nanoform Finland collaborated with Herantis and signed a Biologics Proof of Concept Agreement to develop nasal drug delivery solutions to the brain of Herantis’ CDNF therapies for Parkinson’s disease using Nanoform’s proprietary biological nanoparticle technology in February 2021.
- GSK (GlaxoSmithKline) introduced a saline-based nasal spray in its Piri range in June 2020 to improve the product pipeline and market revenue. By clearing the nasal cavity, this spray helps relieve allergies and fever.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- GLOBAL NASAL DRUG DELIVERY MARKET- ANALYSIS & FORECAST, BY TYPE
- Nebulizer
- Metered Dose Inhaler
- Dry Powder Inhaler
- GLOBAL NASAL DRUG DELIVERY MARKET- ANALYSIS & FORECAST, BY APPLICATION
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
- Nasal Congestion
- Rhinitis
- Vaccination
- GLOBAL NASAL DRUG DELIVERY MARKET- ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
- Hospitals and Clinics
- Retail Pharmacies
- Online Pharmacies
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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