Nasal Drug Delivery Systems Market To Exhibit A Steady 6.5% CAGR Through 2025

Posted by Neha Bora on March 27th, 2020

The Report Nasal Drug Delivery Technology Market Analysis Report By Therapeutic Application (Asthma, Rhinitis), By Dosage Form (Powder, Gel, Spray, Drops), By Container Type, And Segment Forecasts, 2019 - 2025

The global nasal drug delivery systems market size is expected to reach USD 67.99 billion by 2025 expanding at 6.5% CAGR, according to a new report by Grand View Research, Inc. Rising awareness about nasal products is one of the major factors driving the market. Growing geriatric population is also expected to have positive impact on the market. According to the United Nations Department of Economic and Social Affairs, the global geriatric population (60 years and above), was around 962 million in 2017. The number is expected to grow, particularly in Latin America with 71% rise in population aged 60 and over, followed by Asia (66%), Africa (64%), North America (41%), and Europe (23%).

Moreover, ongoing product development and their expected commercialization will propel market growth over the forecast period. For instance, In April 2018, Dr. Reddy’s Laboratories, along with its subsidiary Promius Pharma, LLC, announced filing of their New Drug Application (NDA) for DFN-02, for the treatment of migraine. Increasing adoption of self-administration practices and focus on other alternative routes of drug delivery, such as nasal drug delivery, also offer growth opportunities for the market. Some of the key companies in the industry are AstraZeneca PLC; OptiNose, Inc.; Pfizer, Inc.; Becton, Dickinson and Company; Promius Pharma LLC; B.F. Ascher & Company, Inc.; and Cadila Pharmaceuticals Ltd.

Further key findings from the study suggest:

• Nasal sprays led the dosage type segment in 2017 due to increased prevalence of asthma and other infectious diseases
• On the other hand, nasal drops segment witnessed the fastest growth in 2017 owing to availability of cost-effective products with better efficacy
• Non-pressurized containers segment led the market in 2017 due to continous development in nasal powders and gel products
• Asthma was the dominant therapeutic application segment in 2017 and is estimated to be the fastest-growing segment with a CAGR of 7.0% during the forecast years due to increasing disease prevalence
• Geographically, North America held the largest share in 2017. Asia Pacific is estimated to witness the fastest CAGR of 7.5% due to presence of key companies, such as Cipla Inc.
• Some of the leading companies in the global nasal drug delivery technology market are GlaxoSmithKline PLC; AstraZeneca PLC; Pfizer, Inc.; OptiNose, Inc.; Becton, Dickinson and Company; Promius Pharma, LLC; Cadila Pharmaceuticals Ltd.; B.F. Ascher & Company, Inc.; PendoPharm, Inc.; Douglas Pharmaceuticals Ltd.; ENT Technologies Pty. Ltd.; and NAVEH Pharma Ltd.

 Access Research Report of Nasal Drug Delivery Technology Market @ https://www.grandviewresearch.com/industry-analysis/nasal-drug-delivery-technology-system-market