The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s nasal drug delivery technology market report forecasts the nasal drug delivery technology market size to grow to $101.49 Billion by 2027, with a CAGR (compound annual growth rate) of 7%.

Learn More On The Nasal Drug Delivery Technology Market Report 2023 – https://www.thebusinessresearchcompany.com/report/nasal-drug-delivery-technology-global-market-report

Nasal Drug Delivery Technology Market Size Forecast
The global nasal drug delivery technology market is expected to grow from $72.16 billion in 2022 to $77.42 billion in 2023 at a compound annual growth rate (CAGR) of 7.29%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global nasal drug delivery technology market size is expected to reach $101.49 billion in 2027 at a CAGR of 7.0%.

North America held the largest nasal drug delivery technology market share.

Key Nasal Drug Delivery Technology Market Driver ­– Increase In The Incidences Of Chronic Diseases
According to a report published in September 2022 by the National Institutes of Health (NIH), a US-based biomedical research agency, the number of people aged 50 and older with at least one chronic illness in the United States is expected to rise by 99.5% by 2023, from 71.522 million in 2020 to 142.66 million in 2050. Furthermore, the number of people suffering from multimorbidity will increase by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. As a result, the rising prevalence of chronic diseases is propelling the market for nasal medication delivery systems forward.

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Key Nasal Drug Delivery Technology Market Trend – Product Innovations
To maintain their market position, major pharmaceutical companies in the nasal drug delivery technology market are developing new and enhanced products to supply their consumers with novel methods of drug administration. AptarGroup, Inc., a US-based medication delivery and pharmaceutical business, for example, released APF Futurity, the first recyclable, metal-free, multidose nasal spray, in January 2023, to administer nasal saline and other equivalent over-the-counter (OTC) formulations. APF Futurity is made of polyolefin materials and contains no metal components or recycling disruptors. This eliminates the requirement for separation in recycling streams and encourages the use of higher-quality recycled materials. The design of this product’s recyclability is its distinguishing characteristic; it is a highly recyclable nasal spray pump that has achieved Class AA certification from cyclos-HTP for recycling streams in Europe.

Nasal Drug Delivery Technology Market Segment
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

Nasal Drug Delivery Technology Market Major Players and Strategies
Major players in the nasal drug delivery technology market are AptarGroup Inc., Becton, Dickinson and Company, GlaxoSmithKline Plc, Johnson & Johnson Private Limited, Novartis AG, Pfizer Inc., 3M Co., Cadila Pharmaceuticals, Neurelis Inc., OptiNose Inc., Bausch Health Companies Inc., Naveh Pharma Ltd., Teva Pharmaceutical Industries Ltd., Consort Medical plc, Douglas Pharmaceuticals Ltd., and ENT Technologies Pty. Ltd.

Medtronic plc, a medical device company based in the United Kingdom, paid an undisclosed price to purchase Intersect ENT Inc. in May 2022. The acquisition will expand Medtronic’s ENT portfolio by adding unique devices used in sinus procedures to improve post-operative outcomes and treat nasal polyps. Intersect ENT Inc. is a medical device company established in the United States that specialises in ear, nose, and throat technologies.

The Nasal Drug Delivery Technology Global Market Report 2023 covers regional data on nasal drug delivery technology market size, nasal drug delivery technology market trends and drivers, opportunities, strategies, and nasal drug delivery technology market competitor analysis. The countries covered in the nasal drug delivery technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The term “nasal drug delivery technology” refers to the administration of pharmaceuticals through the nose canal in order to achieve therapeutic drug levels in the blood as rapidly as possible, as well as the possibility of direct drug delivery to the brain via olfactory neurons. Nasal medication delivery systems avoid the blood-brain barrier (BBB) and need less hepatic or intestinal processing.

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