Nasal Drug Delivery Systems Market Application, Growth factors, Key Companies – Merck, GlaxoSmithKline, AstraZeneca, Johnson & Johnson, Pfizer, Baxter, Valeant, Becton, Dickinson

Nasal drug delivery are mostly used in case wherein rapid onset of action is required, or to reach the site where other route of administration displays ineffective results. Nasal drug delivery is also preferred route for needle-free vaccination and systemic drug delivery. Liquid nasal preparations can be administered through inhalers, droppers, spray pumps, nebulizers or atomizers.

The global nasal drug delivery systems market size is estimated to be valued at US$ 48.1 billion in 2018 and is expected to witness a CAGR of 6.3% over the forecast period (2018 – 2026).

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Increasing awareness about advantages of nasal drug delivery is driving the nasal drug delivery systems market growth

Major advantages of nasal drug delivery is that, the drug circumvents hepatic first-pass metabolism, leading to high bioavailability as compared to drug administered orally. On the other hand, parenteral route of administration is also inconvenient for long term therapeutic treatment.

Nasal cavity being highly vascular enhances the drug absorption resulting in rapid onset of action. Moreover, ease of administration coupled with non-invasive method is driving adoption of nasal drug delivery systems, in turn propelling nasal drug delivery systems market growth.

However, limitations associated with nasal drug delivery system such as histological toxicity or lesser area of absorption as compared to orally administered drug hinders the nasal drug delivery systems market growth.

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Nasal drug delivery systems market regional outlook - Asia Pacific is expected to be a rapidly growing market over the forecast period

The regional nasal drug delivery systems market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa by Coherent Market Insights. North America nasal drug delivery systems market is estimated to hold dominant position in 2017. The factors attributed to growth of the North America in nasal drug delivery systems market is increasing research and development by local manufacturers to develop new drug device or delivery system combination.

For instance, Impel NeuroPharma, Inc., a Seattle-based clinical stage biotechnology company, is engaged in applying its Precision Olfactory Delivery (POD) nasal drug delivery platform for drugs such as levodopa powder, insulin liquid, and olanzapine powder for the treatment of Parkinson’s disease, Alzheimer’s disease and agitation in schizophrenia and bipolar disorder, respectively.

The major players operating in nasal drug delivery systems market are Merck & Co., GlaxoSmithKline plc, AstraZeneca plc, Johnson & Johnson, Pfizer Inc., Baxter International, Inc., Valeant Pharmaceuticals International, Inc., Becton, Dickinson and Company, and Novartis AG.

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This release was published on openPR.