Nasal Drug Delivery Technology Market Size is Predicted to Witness 7.45% CAGR till 2030

 

The global Nasal Drug Delivery Technology Market was valued at USD 127.12 billion in 2022, expanding at a CAGR of 7.45% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing awareness regarding nasal products is one of the major factors driving the market.

The growing geriatric population is expected to positively drive the overall market. In 2020, there were 727 million people worldwide who are 65 years of age or older, according to a report by the United Nations Department of Economic and Social Affairs. The number of elderly people worldwide is expected to depict more than double growth during the next three decades, reaching over 1.5 billion in 2050. Between 2020 and 2050, the geriatric population is expected to grow in size across the nation. Globally, it is anticipated that the percentage of people 65 and older will rise from 9.3% in 2020 to almost 16.0% in 2050.

Moreover, increasing patient preference for nasal products owing to their efficacy and easy administration is anticipated to fuel the nasal drug delivery systems market growth. For instance, in February 2021, Nanoform Finland and Herantis announced their agreement on nasal drug delivery to the brain by creating a non-exclusive agreement for formulation proof of concept initiatives.

Additionally, the nasal drug delivery method is widely used to treat brain disorders as it offers a route for systemic circulation of drugs, low bioavailability, fast absorption, and desirable action. In this respect, nasal drug delivery could serve as an attractive non-invasive delivery method for CNS drugs. Moreover, nasal delivery of substances such as peptoids, raltitrexed, 5-fluorouracil telomerase inhibitors, and methotrexate has been shown to reduce brain tumors and increase survival in animal models.

Related Press Release@ Nasal Drug Delivery Technology Market Report

List of Key Players in Nasal Drug Delivery Technology Market

• GlaxoSmithKline PLC
• AstraZeneca PLC
• Pfizer, Inc.
• OptiNose, Inc.
• Becton, Dickinson and Company
• Promius Pharma, LLC
• Cadila Pharmaceuticals Ltd.
• B.F. Ascher & Company, Inc.
• PendoPharm, Inc.
• Douglas Pharmaceuticals Ltd.
• ENT Technologies Pty. Ltd.
• NAVEH Pharma Ltd.

Nasal Drug Delivery Technology Market Report Highlights

• Based on dosage form, the nasal spray segment held the largest revenue share in 2022 owing to the increasing incidence of infections and allergic rhinitis and growing demand for generic nasal spray drugs
• By container type, the non-pressurized containers segment dominated the market in 2022. Nasal drops, nasal powder, and nasal gel usually come in these containers. Growing demand for related products is expected to propel the segment growth over the forecast period
• In terms of therapeutic application, the rhinitis segment held the largest share in 2022 due to the availability of related products for its treatment
• By distribution channel, the retail pharmacies segment accounted for the largest share in 2022 owing to easy availability and convenience
• North America held the largest market share in 2022 owing to the rising prevalence of asthma and chronic obstructive pulmonary disease and the widespread usage of early treatment measures

Nasal Drug Delivery Technology Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 76.89 billion
Revenue forecast in 2030	USD 127.12 billion
Growth rate	CAGR of 7.45% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

 

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Nasal Drug Delivery Technology Market Segmentation

Grand View Research has segmented the global nasal drug delivery technology market based on dosage form, container type, therapeutic application, distribution channel, and region:

Nasal Drug Delivery Technology Dosage Form Outlook (Revenue, USD Billion, 2018 - 2030)

• Nasal Spray
• Nasal Drop
• Nasal Gel
• Nasal Powder

Nasal Drug Delivery Technology Container Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Pressurized Containers
• Non-pressurized Containers

Nasal Drug Delivery Technology Therapeutic Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Nasal Congestion
• Rhinitis
• Asthma
• Others

Nasal Drug Delivery Technology Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Nasal Drug Delivery Technology Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Sweden
• Denmark
• Norway
• Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Thailand
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Kuwait

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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