The Nasal Drug Delivery Market Outlook and Analysis by Drug Type, Dosage Form, Basis of System, Delivery Technologies, Therapeutic Applications, End User and Region—Forecast till 2032
Due to growing preference noninvasive medical treatment for various ailments, the intra-nasal route of drug administration is gaining popularity. Not only it reduces pain and infections; it allows the patient the patient to self-administer drugs independently. Recent research has also pointed out its applications related to drug delivery to the brain. Nasal drugs market also have lesser side effects compared to other drugs. Due to nasal drugs, the concept of bioavailability is becoming popular, which is defined as the proportion of a drug that enters the human body via systemic circulation as compared to the dosage. The popularity of inhalers is driving the market.
The nasal drug delivery market was valued at USD 52,998.5 million in 2018 and is projected to reach USD 81.1 Billion at 7.4% CAGR during the forecaast period 2023-2032.
In terms of cash, the market is expected to rise to US $ 1.59 bn. Some more factors that drive this market include ease of administration, growing efficacy of the route due to the development of drugs, that is absorbed easily from the nasal route and the development of advanced products. Metered dose pressurized containers are capable of delivering the precise dose. This report evaluates the market structure and features expert opinions that help readers to understand the market scenario with future growth potential. It also analyzes the competitive developments of this market. The factors that can hinder the market growth include irritation of the nasal route, low awareness and concurrent low popularity of the route, and a low dose of the drug. Due to low awareness and low popularity, few companies’ nasal drugs delivery. This makes the market for nasal drug delivery has oligopolistic with a few dominant players. Oligopoly gives more power to sellers.
The nasal drug delivery market share has been segmented on the basis of delivery technologies, dosage form, system, therapeutic applications, and lastly region. On the basis of delivery technologies, this market has been segmented as nebulizers, spray, and other. A nebulizer is a device that is used to administer medication in the form of a mist inhaled by the patient into his/her lungs. Based on the dosage form, the market has been segmented into drops, gels, ointments, powder, and sprays.
The system-based segmentation of the market covers unit dose, metered dose, and multi-dose. Unit dose is defined as the amount of a medication administered to a patient in a single dose. A metered dose is delivered as a specific amount of medication to the lungs via an inhaler. It is delivered in the form of a short burst of aerosolized medicine that is usually self-administered by the patient via inhalation. Delivered via vial of liquid medication, multi-dose is intended for injection or infusion that contains more than one dose of medication. On the basis of therapeutic applications, the market has been segmented into congestion, rhinitis, vaccinations, and others.
The regional segmentation of the global nasal drug delivery market segments the market into regional markets known as the Middle East and Africa. Overall, the biggest market in the United Arab Emirates (UAE), followed by Egypt. UAE is the biggest market in the Middle East whereas Egypt is the biggest market in Africa. In the remaining Middle East region, the market is limited due to lack of technological advancement, lack of education, political instability, and low investment on healthcare by the government due to healthcare not considered a priority. In Africa, the market is growing rapidly due to huge unmet medical needs and the growing popularity of the nasal route.
Key Players
The key players MEA nasal drug delivery market include AptarGroup Inc. {United States of America (USA)}, Becton Dickson & Company (USA), GlaxoSmithKline PLC {United Kingdom (UK)}, Johnson & Johnson Services Inc. (USA), Merck & Co. Inc. (USA), Novartis AG (Switzerland), Pfizer Inc. (USA), and Sanofi-Aventis (France).
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