Intranasal Drug Delivery Devices Global Market Analysis, Trends, Growth, Research And Forecast 2033

The intranasal drug delivery devices market size has grown strongly in recent years. It will grow from $55.27 billion in 2023 to $60.27 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to rise in chronic respiratory diseases, patient preference and compliance, convenience in self-administration, pediatric applications, market expansion in allergic rhinitis treatment, wider range of indications..

The intranasal drug delivery devices market size is expected to see strong growth in the next few years. It will grow to $84.51 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to increasing geriatric population, rising global respiratory issues, expanding applications in neurological disorders, personalized medicine trends, preventive healthcare initiatives, market penetration in emerging economies.. Major trends in the forecast period include advances in formulation technologies, focus on pediatric and geriatric applications, rise in self-administration devices, nasal powder inhalers, incorporation of biologics and peptides..

Market Overview -
Intranasal drug delivery devices are medical devices that deliver medications into the nasal cavity. These devices are intended to administer medications directly to the nasal mucosa, which is highly vascularized and has a huge surface area, allowing the drug to be absorbed into the bloodstream quickly. It delivers drugs or therapeutic substances in various forms, including sprays, powders, or liquid solutions, directly into the nasal cavity.

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Rising Prevalence of Chronic Diseases Fuels Growth In The Intranasal Drug Delivery Devices Market
The increasing prevalence of chronic diseases is expected to propel the growth of the intranasal drug delivery devices market going forward. Chronic diseases can be defined as conditions that last 1 year or more and require ongoing medical attention, limit activities of daily living, or both. Intranasal drug delivery devices are used to manage chronic diseases by providing a non-invasive and efficient way to administer medications. They allow medications to be delivered directly to the affected area, which is convenient, making it easy to use and promoting rapid absorption. For instance, in September 2022, according to a report published by the National Institutes of Health (NIH), a US-based biomedical research agency, in 2023, in the United States, the number of people aged 50 and older with at least one chronic illness is predicted to rise by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. Additionally, the number of people with multimorbidity would rise by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. Therefore, the increasing prevalence of chronic diseases is driving the growth of the intranasal drug delivery devices market.

Competitive Landscape -
Major companies operating in the intranasal drug delivery devices market report are Johnson and Johnson Inc., Merck and Co.Inc., Novartis AG, AstraZeneca plc., GlaxoSmithKline Plc, 3M Company, Becton, Dickinson and Company, Teva Pharmaceutical Industries Ltd., AptarGroup Inc., West Pharmaceutical Services Inc., Teleflex Incorporated, Recipharm AB, Nemera Development S.A., Consort Medical plc., Vectura Group plc, Douglas Pharmaceuticals Ltd., Avanir Pharmaceuticals, OptiNoset Inc., Flamel Technologies , Aegis Therapeutics LLC, Sonoma Pharmaceuticals, PendoPharm Inc., Kurve Technology Inc., Impel NeuroPharma, Impexium Medical Products, B.F. Ascher and Company Inc., ENT Technologies Pty. Ltd., Neurelis Inc.

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