The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Intranasal Drug Delivery Devices Global Market Report 2024, the intranasal drug delivery devices market is expected to show promising growth in the forecast period.

Market Overview
The intranasal drug delivery devices market has experienced robust growth in recent years. From a market size of $55.27 billion in 2023, it is projected to reach $60.27 billion in 2024, growing at a compound annual growth rate (CAGR) of 9.0%. This growth is fueled by several factors, including the rising incidence of chronic respiratory diseases, patient preferences, and the convenience of self-administration. The market is expected to expand further to $84.51 billion by 2028, with a CAGR of 8.8%.

Key Drivers of Market Growth
Rising Chronic Diseases

• Chronic diseases, requiring long-term medication and management, significantly boost demand for intranasal drug delivery devices. These devices offer a non-invasive, efficient means of administering medications, promoting quick absorption.
• The National Institutes of Health (NIH) forecasts a dramatic increase in chronic illnesses in the U.S., with those aged 50 and older experiencing a near doubling of chronic conditions by 2050.

Growing Geriatric Population

• The aging population globally is a significant driver of market growth, with increased respiratory and neurological issues necessitating advanced drug delivery solutions.

Advancements in Technology

• Innovations in drug formulation and delivery methods are expanding the applications of intranasal devices, including in neurological disorders and personalized medicine.

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Innovative Trends and Developments
Technological Advancements

• Companies are developing new, advanced intranasal devices to maintain a competitive edge. For example, AptarGroup, Inc. launched the APF Futurity, a recyclable, metal-free multidose nasal spray in January 2023. This product, made from polyolefin materials, enhances recycling efficiency and supports sustainability.

Acquisitions and Expansions

• Sandoz AG’s acquisition of Coalesce Product Development Limited in March 2022 highlights the industry’s strategic moves to enhance inhalation drug delivery capabilities and expand product portfolios.

Market Segmentation
By Product

• Powder Delivery Device
• Liquid Delivery Device
• Pressurized Metered-Dose Inhalers
• Other Products

By Dosage

• Unit-Dose
• Multi-Dose

By Application

• Chronic Obstructive Pulmonary Disease (COPD)
• Rhinitis
• Cystic Fibrosis
• Nasal Congestion
• Asthma
• Other Applications

By End User

• Hospitals
• Clinics
• Homecare
• Other End Users

Regional Insights
In 2023, North America led the intranasal drug delivery devices market, reflecting the region’s advanced healthcare infrastructure and high demand for innovative drug delivery solutions.

Conclusion
The intranasal drug delivery devices market is poised for significant growth, driven by increasing chronic disease prevalence, advancements in technology, and expanding applications in healthcare. With ongoing innovations and strategic acquisitions, the market is set to continue its upward trajectory, providing more efficient and convenient drug delivery solutions globally.

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