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The nasal drug delivery technology market has experienced robust growth, with a projected increase from $77.42 billion in 2023 to $82.98 billion in 2024, representing a compound annual growth rate (CAGR) of 7.2%. This growth can be attributed to factors such as advancements in drug formulations, increasing prevalence of respiratory disorders, and patient preference for non-invasive delivery methods. Looking ahead, the market is poised for strong growth, reaching $110.08 billion by 2028, with a CAGR of 7.3%.

Rising Geriatric Population Driving Market Growth

The rise in the global geriatric population is expected to drive the growth of the nasal drug delivery technology market. Nasal drug delivery technology is preferred among the elderly for its ease of administration and enhanced patient compliance, addressing challenges associated with swallowing pills. With the global population of individuals aged 60 years projected to reach 1.4 billion by 2022, the demand for nasal drug delivery technology is expected to increase significantly.

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Innovations in Product Development

Product innovation has emerged as a key trend in the nasal drug delivery technology market. Companies are focused on developing new and improved products to provide customers with innovative drug administration methods. For example, AptarGroup, Inc. launched APF Futurity, the first recyclable, metal-free, multidose nasal spray, designed to deliver nasal saline and other OTC formulations. This product’s recyclability design promotes greater use of recycled materials, contributing to sustainability efforts.

Strategic Acquisitions Enhancing Market Presence

Strategic acquisitions have played a significant role in expanding market presence and product portfolios. Medtronic PLC’s acquisition of Intersect ENT Inc. added novel products for sinus operations to enhance post-operative outcomes and treat nasal polyps, strengthening Medtronic’s ENT portfolio.

Market Segmentation and Regional Outlook

The market is segmented by dosage form, container type, therapeutic application, distribution channel, and end-user. Dosage forms include nasal spray, nasal drops, nasal gels and ointments, nasal powders, and others. Container types include pressurized containers and non-pressurized containers. Therapeutic applications include allergic and non-allergic rhinitis, nasal congestion, asthma, vaccination, and others. Distribution channels include hospital pharmacies, retail pharmacies, and online pharmacies. End-users include home care settings and hospitals. North America was the largest region in the nasal drug delivery technology market in 2023.

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