Nasal delivery devices Market Rise in Popularity of Organized Retailing to Boost Growth | The Insight Partners

According to our new market research study on “Nasal Delivery Devices Market to 2027 – Global Analysis and Forecast – by Drug Type, Delivery Technologies, and End User,” the market is expected to reach US$ 95,676.62 million by2027 from US$ 58,502.18 million in 2019. The market is estimated to grow with a CAGR of 6.4% from 2020 to 2027. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.

GlaxoSmithKline plc.;AstraZeneca; Pfizer Inc.; BD; Sanofi; Merck & Co., Inc.; Cadila Pharmaceuticals Ltd.; Novartis AG; Dr. Reddy's Laboratories;and Neurelis, Inc.are among the leading companies operating in the nasal delivery devices market.

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Highlights the following key factors:

Growing Prevalence of Respiratory and CNS Diseases - The initial proof-of-concept studies using novel nasal drug delivery devices showed promising results in the treatment of respiratory diseases, neurological disorders, and others. Drug delivery devices play an essential role in ensuring the delivery of entire drug to the target site in the nasal cavity.

Drug Type Insights - Based on drug type, the nasal delivery devices market is segmented into anesthetics, antibiotics, pain relief drugs, calcium supplements, vasoconstrictors, antihistamines, and others. In 2019, the antihistamines segment accounted for the largest share of the market. Growth of this segment is attributed to increase in allergic rhinitis.

Delivery Technologies Insights - Based on delivery technologies, the global nasal delivery devices market is segmented into spray, nebulizers, inhalers, and others. In 2019, the inhalers segment held a major share of the market and is anticipated to register the highest CAGR in the market during the forecast period.

Strategic Insights - Product launches and approvals are the commonly adopted strategies by companies to expand their global footprints and product portfolios to meet the growing consumer demand. The nasal delivery devices market players adopt the collaborations strategy to enlarge customer base worldwide, which also permits them to maintain their brand name globally.

Segmentation:

Nasal Delivery Devices Market – By Drug Type
Anaesthetics
Antibiotics
Pain Relief Drugs
Calcium Supplements
Vasoconstrictors
Antihistamines
Others

Nasal Delivery Devices Market – By Delivery Technologies
Spray
Nebulizers
Inhalers
Others

Nasal Delivery Devices Market – By End User
Home Care Settings
Hospitals
Clinics

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Respiratory conditions such as acute lower respiratory tract infections, tuberculosis, chronic obstructive pulmonary disease (COPD—a disease spectrum that includes bronchitis and emphysema), asthma, and lung cancer are among the most common causes of severe illnesses and deaths globally. Growing urbanization and pollution, unhealthy lifestyle and habits, and high tobacco smoking prevalence are among the factors leading to the surge in respiratory and cardiovascular disease cases.

The respiratory could cause acute respiratory failure, treatment of which requires nasal drug delivery for continuous support. According to the Global Asthma Report 2018, published by Global Asthma Network, ~330 million people in the world are asthmatic. In addition, as per the estimates of Global Burden of Disease, a special research project by the Institute for Health Metrics and Evaluation, in 2016, ~420,000 died due to asthma. According to a study published in the US National Library of Medicine National Institutes of Health in 2018, the prevalence of asthma is consistently high in Korea, especially among female and elderly populations.

Thus, the growing prevalence of respiratory diseases, neurological disorders, and other chronic diseases is boosting the demand for nasal delivery devices for effective drug delivery at the target sites.

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