The Nasal Delivery Devices Market is expected to reach US$ 95,676.62 million by 2027 from US$ 58,502.18 million in 2019. The market is estimated to grow with a CAGR of 6.4% from 2020 to 2027.
Nasal drug delivery is one of the most preferred drug delivery routes among patients as well as healthcare providers. This can majorly be attributed to the noninvasive nature of this route of delivery and greater drug absorbability through the nasal route. In addition, the nasal route offers a less hostile environment for drugs compared to the gastrointestinal route, thereby enabling better absorption of the drug. The easy administration of these drugs plays a crucial role in improving the compliance to drug therapies among patients, which in turn drives patient outcomes. Considering these factors, the preference for nasal drug delivery is increasing among patients as well as healthcare providers. Being highly vascular, nasal cavity enhances the drug absorption resulting in rapid action. The World Health Organization (WHO) has specific guidelines for manufacturers, which outlines all necessary requirements for the adoption of new nasal delivery devices with a single-use delivery system.
The List of Companies – Nasal delivery devices Market
- GlaxoSmithKline plc.
- Pfizer Inc.
- Merck & Co., Inc.
- Cadila Pharmaceuticals Ltd.
- Novartis AG
- Dr. Reddy’s Laboratories
- Neurelis, Inc.
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The initial proof-of-concept studies using novel nasal drug delivery devices showed promising results in the treatment of respiratory diseases, neurological disorders, and others. Drug delivery devices play an essential role in ensuring the delivery of entire drug to the target site in the nasal cavity. In the last few decades, several innovative drug delivery approaches have been introduced that might overcome the challenges involved in crossing the blood-brain barrier (BBB). Several scientific studies support the speculation that the delivery of drugs through the nasal route may allow higher concentrations of drugs to cross the BBB. The, rising incidence of neurological disorders would increase the demand for nasal delivery devices. According to the American Society of Clinical Oncology (ASCO), in 2020, ~3,540 brain and other CNS tumors have been diagnosed in children belonging to the age group of 0–14 years, in the US. The report also stated that the brain and other CNS tumors are the second most common cancers among children, accounting for ~26% of cancer cases in children with <15 years of age.
Nasal Delivery Devices Market – By Drug Type
- Pain Relief Drugs
- Calcium Supplements
Delivery Technologies Insights
Based on delivery technologies, the global nasal delivery devices market is segmented into spray, nebulizers, inhalers, and others. In 2019, the inhalers segment held a major share of the market and is anticipated to register the highest CAGR in the market during the forecast period.
End User Insights
Based on end user, the global nasal delivery devices market is segmented into home care settings, hospitals, and clinics. In 2019, the home care settings segment held a major share of the market and is anticipated to register the highest CAGR in the market during the forecast period.
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Product launches and approvals are the commonly adopted strategies by companies to expand their global footprints and product portfolios to meet the growing consumer demand. The nasal delivery devices market players adopt the collaborations strategy to enlarge customer base worldwide, which also permits them to maintain their brand name globally.
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