PUBLISHER: DelveInsight | PRODUCT CODE: 1439653
PUBLISHER: DelveInsight | PRODUCT CODE: 1439653
Intranasal Drug Delivery Market By Dosage Form (Spray, Drops And Liquids, Gels, Powders), By Container (Pressurized, Non-Pressurized), By System (Multi-Dose Systems, Bi-Dose Systems, Unit-Dose Systems), By Therapeutic Application (Rhinitis, Sinusitis, Vaccination, Others), By End-User (Hospitals, Home Care Settings), by geography is expected to grow at a steady CAGR forecast till 2030 owing to rising burden of various respiratory disorders and extended application of intranasal drugs in various conditions
Global Intranasal Drug Delivery Market was valued at USD 46.00 billion in 2023, growing at a CAGR of 6.29% during the forecast period from 2024 to 2030, in order to reach USD 66.33 billion by 2030. The Intranasal Drug Delivery market is expected to witness growth owing to the rising burden of various respiratory disorders such as rhinitis and sinusitis among the worldwide population, increasing patient preference for nasal drug delivery as a result of easy administration and better efficacy, the extended application of intranasal drugs in various conditions, rise in product approval and launches.
Intranasal Drug Delivery Market Dynamics:
Owing to the growing burden of respiratory diseases across the globe, the Intranasal Drug Delivery market has been rising significantly.
Rhinosinusitis is a common condition associated with the inflammation of the nasal cavity along with paranasal sinuses. According to the World Allergy Organization 2022 report, the worldwide prevalence of chronic rhinosinusitis (CRS) ranges from about 8% in China, 8.4% in Korea, 11% in Europe, and 12% in the United States respectively.
Also, according to the reports of the International Rhinologic Society 2020, the one-year prevalence of acute rhinosinusitis which is usually the consequence of viral common cold is 6-15% whereas CRS affects an estimated 5-12% of the general population.
In addition, according to Allergy UK, a British medical charity dedicated to helping adults and children with their allergies, around 49% of people reported suffering from allergic rhinitis in the UK in the year 2020.
Furthermore, as per the data provided by the Australian Government in the year 2020, approximately 1 in 5 Australians or more than 4.6 million people in Australia had allergic rhinitis in the year 2017-2018.
Report Metrics
Details
Study Period
Base Year
2022
Forecast Period
CAGR
6.29%
Market Size
USD 66.33 billion by 2030
Key Companies
AFT Pharmaceuticals, AptarGroup, Inc., SaNOtize Research & Development Corp., Becton, Dickinson and Company, Oyster Point Pharma, Inc., Impel Neuropharma, Teleflex Incorporated, SipNose, Kurve Technology, and others
Thus, the rising prevalence of respiratory disorders such as allergic rhinitis, rhinosinusitis, and others are key factors contributing to the Intranasal Drug Delivery market growth during the forecasted period.
COVID-19 has caused significant disruption to business and economic activity globally and is expected to have impacted the intranasal drug delivery market. This is due to factors including lockdown restriction, supply chain disruption due to logistical restrictions, among others. However, the pandemic has also allowed the Intranasal Drug Delivery market as various manufacturers are focused on developing intranasal vaccines for the COVID-19 infection, for instance, Canadian biotech firm SaNOtize Research & Development Corp is one of them.
However, certain factors like complications and limitations associated with the intranasal drug administration and product recalls may restrict the growth of the Global Intranasal Drug Delivery Market.
Intranasal Drug Delivery Market Segment Analysis:
Intranasal Drug Delivery Market By Dosage Form (Spray, Drops and Liquids, Gels, Powders), By Container (Pressurized, Non-Pressurized), By System (Multi-dose Systems, Bi-dose Systems, Unit-dose Systems), By Therapeutic Application (Rhinitis, Sinusitis, Vaccination, Others), By End-User (Hospitals, Home Care Settings), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World).
In Intranasal Drug Delivery market Dosage Form segment, the Sprays market segment will hold the major share of the Global Intranasal Drug Delivery market. This is owing to the wide availability of intranasal sprays to deliver medications locally in the nasal cavities or systemically for various applications such as congested nose, migraine, and others.
Furthermore, rising COVID-19 cases across the globe and an increase in research and development activities for developing intranasal sprays for the infection is also a factor responsible for augmenting the market for intranasal sprays in the forthcoming years.
In addition, the expansion of intranasal spray to treat a variety of different diseases and their approval is also expected to surge the market for intranasal drug delivery in the upcoming years.
Hence, all the above-mentioned factors are expected to bolster the segmental growth in the forthcoming years.
North America is expected to dominate the overall Global Intranasal Drug Delivery Market:
North America is expected to dominate the overall Intranasal Drug Delivery market during the forecast period. This domination is owing to the increasing prevalence of the target population in the region. Moreover, the presence of a well-established reimbursement policy and recent product approvals in the region is projected to augment the intranasal drug delivery regional market.
For instance, as per the 2022 data of the Centre for Disease Control and Prevention, in the US, there are approximately 28.9 million adult persons diagnosed with sinusitis.
Further, in North America and at the global level the United States represents the largest market worldwide supported by developed healthcare infrastructure and strong adoption of technologically advanced products owing to the rise in healthcare expenditure by the government and increase prevalence and incidence of respiratory disease.
In addition, the presence of key market players such as Becton, Dickinson, and Company, Aptar Group., among others, and their strategic business activities for market expansion is also expected to bolster the intranasal drug delivery market in the country.
For instance, on March 18, 2019, Aptar Pharma, a leading drug delivery systems provider received FDA approval for its Bidose nasal spray device as a breakthrough therapy in the field of depression. This marks the first FDA approval and the US launch of a prescription drug using Aptar Pharma's patented Bidose nasal spray delivery system.
Hence, the interplay of all the above-mentioned factors is likely to drive the market for intranasal drug delivery market in the country during the forecasted period.
Intranasal Drug Delivery Market Key Players:
Some of the key market players operating in the Global Intranasal Drug Delivery Market include AFT Pharmaceuticals, AptarGroup, Inc., SaNOtize Research & Development Corp., Becton, Dickinson and Company, Oyster Point Pharma, Inc., Impel Neuropharma, Teleflex Incorporated, SipNose, Kurve Technology, Inc., Mystic Pharmaceuticals, Medica Holdings, LLC, 3M Company, Neurelis, Inc., PENDOPHARM, GlaxoSmithKline, Cipla, Glenmark Pharmaceuticals, Novartis AG, AstraZeneca, Johnson & Johnson, and others.
Recent Developmental Activities in the Intranasal Drug Delivery Market:
In October 2022, Oyster Point Pharma's dry-eye treatment, Tyrvaya (varenicline), won FDA approval as the first nasal spray in the U.S. to treat the chronic condition of dry eye.
On August 02, 2022, Glenmark Pharmaceuticals, a research-led, global integrated pharmaceutical company, and Canadian biotech firm SaNOtize Research & Development Corp. inked an exclusive long term strategic partnership to manufacture, market, and distribute its breakthrough Nitric Oxide Nasal Spray (NONS) for COVID-19 treatment in India and other Asian markets including Singapore, Malaysia, Hong Kong, and other countries.
Key Takeaways from the Intranasal Drug Delivery Market Report Study
Market size analysis for current market size (2023), and market forecast for 5 years (2024-2030)
The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Intranasal Drug Delivery market.
Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
Key companies dominating the Global Intranasal Drug Delivery Market.
Various opportunities are available for the other competitor in the Intranasal Drug Delivery Market space.
What are the top-performing segments in 2023? How these segments will perform in 2030.
Which are the top-performing regions and countries in the current market scenario?
Which are the regions and countries where companies should have concentrated on opportunities for Intranasal Drug Delivery market growth in the coming future?
Target Audience who can be benefited from this Intranasal Drug Delivery Market Report Study
Intranasal Drug Delivery providers
Research organizations and consulting companies
Intranasal Drug Delivery related organization, association, forum, and other alliances
Government and corporate offices
Start-up companies, venture capitalists, and private equity firms
Distributors and Traders in Intranasal Drug Delivery
Various End-users want to know more about the Intranasal Drug Delivery Market and the latest technological developments in the Intranasal Drug Delivery market.
Frequently Asked Questions for Intranasal Drug Delivery Market:
Intranasal drug delivery devices are next-generation post-surgery devices, offering advantages for enhancing tissue recovery through the release of loaded therapeutic drugs locally in a controlled manner over the required time frame during post-operative healing.
Global Intranasal Drug Delivery Market was valued at USD 46.00 billion in 2023, growing at a CAGR of 6.29% during the forecast period from 2024 to 2030, in order to reach USD 66.33 billion by 2030.
The major drivers driving the demand for Intranasal Drug Delivery are the rising burden of various respiratory disorders such as rhinitis and sinusitis among the worldwide population, increasing patient preference for nasal drug delivery as a result of easy administration and better efficacy, the extended application of intranasal drugs in various conditions, rise in product approval and launches.
Some of the key market players operating in the Intranasal Drug Delivery market include AFT Pharmaceuticals, AptarGroup, Inc., SaNOtize Research & Development Corp., Becton, Dickinson and Company, Oyster Point Pharma, Inc., Impel Neuropharma, Teleflex Incorporated, SipNose, Kurve Technology, Inc., Mystic Pharmaceuticals, Medica Holdings, LLC, 3M Company, Neurelis, Inc., PENDOPHARM, GlaxoSmithKline, Cipla, Glenmark Pharmaceuticals, Novartis AG, AstraZeneca, Johnson & Johnson, and others.
North America is expected to dominate the overall global Intranasal Drug Delivery market during the forecast period from 2024 to 2030. This domination is owing to the increasing prevalence of the target population in the region. Moreover, the presence of a well-established reimbursement policy and recent product approvals in the region is projected to augment the intranasal drug delivery regional market.