Dublin, Aug. 16, 2021 (GLOBE NEWSWIRE) -- The "Global Nasal Drug Delivery Market, By Drug Type, By Dosage Form, By Container Type, By Basis of System, By Therapeutic Application, By End User, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Nasal Drug Delivery Market is expected to grow at CAGR of 11.67% during the forecast period and is projected to reach USD123.92 billion by 2026 owing to the growing cases of respiratory problems such as asthma, paranasal sinuses, nasal infection, and others along with surging demand for non-invasive techniques and less painful treatments.
Nasal drug delivery devices provide self-medication, which does not require patients to visit the doctor. The growing adoption of self-administration practices and demand for home healthcare devices are acting as key growth drivers for the growth of the Global Nasal Drug Delivery Market.
Furthermore, development of advanced nasal drug delivery devices and their efficacy and easy administration properties are propeling the market growth. With growing awareness and growing patient preference for nasal products, the market is poised to witness substantial growth in the next five years.
Moreover, increasing expenditure on the healthcare sector and various governments' focus on promoting R&D activities are supporting the growth of the Global Nasal Drug Delivery Market. However, the market is also facing some restraints. Complications related to the over usage of nasal powders and nasal sprays are likely to hamper the growth of the Global Nasal Drug Delivery Market.
The Global Nasal Drug Delivery Market can be segmented based on drug type, dosage form, container type, basis of system, therapeutic applications, end-user, distribution channel and region. Based on container type, the market can be segmented into non-pressurized containers and pressurized containers.
Among them, the non-pressurized containers are expected to undergo the fastest CAGR during the forecast period as they are mostly used in nasal sprays. Thus, the increasing demand for nasal sprays and growing prevalence of chronic diseases like asthma and diabetes are expected to contribute to the dominant share of non-pressurized containers through 2026.
North America dominated the Global Nasal Drug Delivery Market in 2020 and is further expected to continue its dominance during the forecast period. Increasing cases of respiratory disorders and presence of key market players are making North America a favorable market for nasal drug delivery.
However, Asia Pacific is anticipated to undergo the fastest CAGR during the forecast period owing to rising awareness and prevalence of chronic and respiratory disorders in the region.
Competitive Landscape
Key market players are undergoing growth strategies like joint ventures and new product launches to strengthen their position in the global market.
- GlaxoSmithKline Plc.
- Pfizer, Inc.
- AstraZeneca PLC
- Novartis AG
- Becton Dickson & Company
- Promius Pharma LLC
- M Company
- Johnson & Johnson Services, Inc.
- Sanofi S.A.
- Merck & Co., Inc.
- Cadila Pharmaceuticals Ltd.
- Aegis Therapeutics, LLC
- B.F. Ascher & Company, Inc.
- ENT Technologies Pty. Ltd.
- AptarGroup, Inc.
Key Target Audience:
- Nasal Drug Delivery Market device manufacturers/ companies/ partners
- Hospital Pharmacies/ Retail Pharmacies
- Government bodies such as regulating authorities and policy makers
- Organizations, industry associations, forums and alliances related to Nasal Drug Delivery Market
- Market research and consulting firms
Report Scope:
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Global Nasal Drug Delivery Market, By Drug Type:
- Antihistamines
- Corticosteroids
- Anesthetics
- Antibiotics
- Pain Relief Drugs
- Others
Global Nasal Drug Delivery Market, By Dosage Form:
- Sprays
- Drops
- Powder
- Gels & Ointments
Global Nasal Drug Delivery Market, By Container Type:
- Non-pressurized Containers
- Pressurized Containers
Global Nasal Drug Delivery Market, By Basis of System:
- Metered Dose
- Multi-Dose
- Unit Dose
Global Nasal Drug Delivery Market, By Therapeutic Applications:
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
- Rhinitis
- Cystic Fibrosis
- Nasal Congestion
Global Nasal Drug Delivery Market, By End-User:
- Home Care Settings
- Hospitals
- Clinics
Global Nasal Drug Delivery Market, By Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online
Global Nasal Drug Delivery Market, By Region:
- North America
- United States
- Mexico
- Canada
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
For more information about this report visit https://www.researchandmarkets.com/r/52xed5
