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Nasal Drug Delivery Technology Market Expected to Achieve 8.6% CAGR by 2029: Growth Forecast Insights
Nasal Drug Delivery Technology
How Large Will the Nasal Drug Delivery Technology Market Size By 2025?
The market of nasal drug delivery technology has significantly expanded in the past few years. The market, which was worth $80.79 billion in 2024, is projected to increase to $85.89 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%. The growth in the historical period can be traced to the progress in drug formulation technologies, the surge in respiratory disorders, patient inclination for non-intrusive delivery, the expansion of the elderly population, and regulatory backing for the approval of nasal drugs.
How Big Is the Nasal Drug Delivery Technology Market Size Expected to Grow by 2029?
The market for nasal drug delivery technology is projected to experience robust expansion in the coming years, with an expectation to escalate to "$119.56 billion by 2029 at an 8.6% compound annual growth rate (CAGR). The predicted growth during the forecast period is attributed to the surge in biologics and peptide therapies, emphasis on meeting the needs of pediatric and geriatric patients, strategic partnerships and collaborations within the pharma sector, the growth of over-the-counter (OTC) nasal products, and a heightened focus on precision medicine. Prime trends for the forecast period include the development in formulation technology, an enhanced attention on patient-friendly devices, the expansion of therapeutic areas, the delivery of biologics and peptides, and innovative improvements in nasal spray technologies.
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Which Key Market Drivers Powering Nasal Drug Delivery Technology Market Expansion and Growth?
The rise in chronic illnesses is predicted to boost the nasal drug delivery technology market's future growth. These diseases, which require continuous medical attention and limit daily activities for a year or more, are managed using nasal drug delivery technologies. These technologies enhance bacterial biofilm or mucociliary clearance in the treatment of chronic rhinosinusitis, owing to the complexity of the nasal cavity. For example, a report by the American College of Cardiology in August 2022 projected that all four major cardiovascular risk factors would rise between 2025 and 2060 in the United States. Diabetes is expected to have the highest percentage increase, with a 39.3% rise to 55 million people, closely followed by dyslipidemia (27.6% to 126 million), hypertension (25.1% to 162 million), and obesity (18.3% to 126 million). Stark rises in rates of cardiovascular diseases, including stroke (33.8% to 15 million) and heart failure (33.4% to 13 million), along with ischemic heart disease (30.7% to 29 million) and heart attack (16.9% to 16 million), are also forecasted. Thus, the growing prevalence of chronic illnesses is propelling the nasal drug delivery systems market's growth.
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Which Fast-Growing Trends Are Poised to Disrupt the Nasal Drug Delivery Technology Market?
Innovation continues in the nasal drug delivery technology market. In January 2023, US-based AptarGroup, Inc. launched APF Futurity, a recyclable, metal-free nasal spray for saline and OTC drugs. Made of polyolefin materials, it eliminates recycling disruptors and received Class AA certification in Europe for its sustainability.
What Are the Emerging Segments in the Nasal Drug Delivery Technology Market?
The nasal drug delivery technology market covered in this report is segmented -
1) By Dosage Form: Nasal Spray, Nasal Drops, Nasal Gels And Ointments, Nasal Powders, Other Dosage Forms
2) By Container Type: Pressurized Containers, Non-Pressurized Containers
3) By Therapeutic Application: Allergic And Non-Allergic Rhinitis, Nasal Congestion, Asthma, Vaccination, Other Therapeutic Applications
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
5) By End User: Home Care Settings, Hospitals
Subsegments:
1) By Nasal Spray: Metered-Dose Spray, Non-Metered-Dose Spray
2) By Nasal Drops: Liquid Nasal Drops, Gel-Based Nasal Drops
3) By Nasal Gels and Ointments: Hydrogel Formulations, Oil-Based Ointments
4) By Nasal Powders: Dry Powder Inhalers (DPI), Spray-Dried Powders
5) By Other Dosage Forms: Nasal Patches, Nasal Inserts
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Who Are the Global Leaders in the Nasal Drug Delivery Technology Market?
Major companies operating in the nasal drug delivery technology market include AptarGroup Inc., Becton Dickinson and Company, GlaxoSmithKline plc, Johnson & Johnson Private Limited, Novartis AG, Pfizer Inc., 3M Company, Cadila Healthcare Limited, Neurelis Inc., OptiNose Inc., Bausch Health Companies Inc., Naveh Pharma Ltd., Teva Pharmaceutical Industries Ltd., Consort Medical plc, Douglas Pharmaceuticals Ltd., ENT Technologies Pty. Ltd., Merck & Co. Inc., Sanofi SA, AstraZeneca plc, Boehringer Ingelheim International GmbH, Bayer AG, Abbott Laboratories, Eli Lilly and Company, Bristol-Myers Squibb Company, Takeda Pharmaceutical Company Limited, Amgen Inc., Gilead Sciences Inc., Biogen Inc., Roche Holding AG, Allergan plc, Regeneron Pharmaceuticals Inc., Alexion Pharmaceuticals Inc.
Which are the Top Profitable Regional Markets for the Nasal Drug Delivery Technology Industry?
North America was the largest region in the nasal drug delivery technology market in 2024. The regions covered in the nasal drug delivery technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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