PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1529919
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1529919
Global intranasal drug delivery devices market is estimated to be valued at USD 1.70 Bn in 2024 and is expected to reach USD 3.27 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 1.70 Bn |
Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: | 9.80% | 2031 Value Projection: | US$ 3.27 Bn |
Global intranasal drug delivery devices market growth is driven by factor like advantages associated with intranasal drug delivery such as avoidance of first-pass hepatic metabolism, rapid drug absorption into systemic circulation, and direct nose-to-brain delivery. Intranasal drug delivery provides a non-invasive route for administering both local and systemic drugs. Rising product launches and substantial investments from players focused on developing advanced nasal spray and nebulizer technologies can drive the market growth.
Global intranasal drug delivery devices market growth is driven by growing preference for alternate routes of drug delivery, rising incidence of chronic illnesses requiring long-term drug therapies, and technological advancements in nasal drug delivery devices. Non-invasive nature and rapid onset of action offered by intranasal delivery encourages various drug developers to explore this route. However, factors such as limitations on drug molecule size for intranasal absorption and risks of nasal irritation and congestion can hamper the market growth. Ongoing R&D focused on expanding the repertoire of applicable drug molecules and formulating safer nasal drug delivery technologies can offer market growth lucrative opportunities.
This report provides in-depth analysis of the global intranasal drug delivery devices market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global intranasal drug delivery devices market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include OptiNose, Merck, GlaxoSmithKline, AstraZeneca, and Sanofi
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global intranasal drug delivery devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Detailed Segmentation-