16 October 2019
Visiongain has launched a new pharma report ‘’Nasal Drug Delivery Technology Market Report 2020-2030’’ by Therapeutic Application (Asthma, Allergic & Non-Allergic Rhinitis, Nasal Congestion, Vaccinations, Others), Dosage Form (Nasal Drops & Liquids, Nasal Gels, Nasal Spray, Nasal Powders, Other Dosage Forms), System (Unit Dose, Bi-Dose, Multi Dose), End Users (Ambulatory Surgery Centers, Hospitals, Specialty Clinics, Vaccination Centers), and Geography.
The global Nasal Drug Delivery Technology market is anticipated to grow at a lucrative CAGR of 6.5% and is anticipated to surpass USD 80 Billion by 2030.
Nasal drug delivery technology is the nasal route drug delivery technique that enables immediate drug gain access for systemic circulation. Drugs administered through the nasal path, such as liquid spray, suspension spray, liquid drops, aerosol, gel, etc., are available in multiple dosage forms. According to the World Health Organization, over 20% of individuals suffer from nasal congestion, however, with the availability of adequate medical equipment and devices for healthcare processes, nearly half of these incidences can be prevented.
Intranasal drug delivery among patients as well as health care providers is one of the most preferred drug delivery techniques. This can majorly be attributed to the non-invasive nature and the fact that drug absorbability through the nasal path is greater. Furthermore, compared to the gastrointestinal route, the nasal path provides a less hostile atmosphere; this allows for better drug absorption. Also, unlike some other drug delivery routes, nasal drug delivery does not involve any sterile technique for drug administration to the body. Easy administration of these drugs plays a vital role in enhancing patient compliance with drug therapies. Considering these factors, nasal drug delivery preference among both patients and health care providers is growing.
North America holds the majority of market share owing to increased disease prevalence/incidence coupled with consumer awareness about nasal products. In 2017, according to the Centers for Disease Control and Prevention, 20.4 million adults aged 18 years and above were suffering from asthma in the U.S. which is approximately about 8.3% of the country's total population. Also, there were about 6.1 million children under the age of 18 with asthma. Due to the region's developed economies, North America will experience strong growth over the next few years.
Asia Pacific region is anticipated to experience the highest growth in terms of CAGR over the forecast period owing to the availability of effective treatment methods, high unmet clinical needs, rising disposable income levels, and increasing awareness about these products. Also, the presence of key companies in this region, such as Sun Pharmaceutical Industries Ltd., AptarGroup, Inc, and Cipla Inc., is anticipated to have a positive impact on the overall market.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations and launching new products to strengthen their position in the global nasal drug delivery technology market. Companies are also increasing their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the market.
For instance, on 28th March 2018, pSivida acquired Icon Bioscience Inc., and rebranded as EyePoint Pharmaceuticals.
The comprehensive market report features companies such as 3M, Aegis Therapeutics LLC, Alkermes, Antares Pharma, Aptargroup, Inc., Aradigm Corporation, AstraZeneca, B.F. Ascher & Company, Inc., Becton, Dickson and Company, Cadila Pharmaceuticals, Douglas NZ, ENT Technologies Pty. Ltd., EyePoint Pharmaceuticals, Generex Biotechnology Corp., GlaxoSmithkline plc., Janssen Global Services, LLC, Johnson & Johnson Services, Inc., Merck & Co., Inc., NanoPass, NAVEH Pharma, Novartis AG, OptiNose, Pendopharm, Pfizer, Inc., Promius Pharma, Teleflex Incorporated, and Vectura Group plc among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020–2030 for global markets such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Benelux, Russia, Poland, India, Japan, China, Australia, ASEAN, GCC, South Africa and North Africa.
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