Nasal Drug Delivery Technology Global Market 2024 To Reach $110.08 Billion By 2028 At Rate Of 7.3%
Nasal Drug Delivery Technology Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Nasal Drug Delivery Technology Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, August 13, 2024 /EINPresswire.com/ -- The nasal drug delivery technology market has experienced robust growth in recent years, expanding from $77.42 billion in 2023 to $82.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to advancements in drug formulations, increasing prevalence of respiratory disorders, patient preference for non-invasive delivery, expanding geriatric population, regulatory support for nasal drug approvals.
Strong Future Growth Anticipated
The nasal drug delivery technology market is projected to continue its strong growth, reaching $110.08 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to rise in biologics and peptide therapies, focus on pediatric and geriatric patient needs, partnerships and collaborations in the pharma industry, expansion of over-the-counter (OTC) nasal products, increased focus on precision medicine.
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Growth Driver Of The Nasal Drug Delivery Technology Market
The increasing incidences of chronic diseases are expected to propel the growth of the nasal drug delivery technology market going forward. Chronic diseases can be defined as conditions that last 1 year or more and require ongoing medical attention, limit activities of daily living, or both. Nasal drug delivery technologies are used for the management of chronic rhinosinusitis to improve the bacterial biofilm or mucociliary clearance due to the complex structure of the nasal cavity through a therapeutic nasal cavity strategy.
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Major Players And Market Trends
Key players in the nasal drug delivery technology market include AptarGroup Inc., Becton Dickinson and Company, GlaxoSmithKline PLC, Johnson & Johnson Private Limited, Novartis AG.
Product innovations are a key trend gaining popularity in the nasal drug delivery technology market. Major pharmaceutical companies operating in the nasal drug delivery technology market are involved in developing new and improved products to provide their customers with new methods of drug administration to sustain their position in the market.
Segments:
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
Geographical Insights: North America Leading The Market
North America was the largest region in the nasal drug delivery technology market in 2023. 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
Nasal Drug Delivery Technology Market Definition
The nasal drug delivery technology refers to administering pharmaceuticals through the nasal cavity to attain therapeutic drug levels in the blood as quickly as possible and the potential for direct drug delivery to the brain via the olfactory neurons. Nasal drug delivery methods circumvent the blood-brain barrier (BBB) and undergo minimal hepatic and intestinal processing.
Nasal Drug Delivery Technology Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Nasal Drug Delivery Technology Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on nasal drug delivery technology market size, nasal drug delivery technology market drivers and trends, nasal drug delivery technology market major players, nasal drug delivery technology competitors' revenues, nasal drug delivery technology market positioning, and nasal drug delivery technology market growth across geographies. The nasal drug delivery technology market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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