Nasal Drug Delivery Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Dosage Form (Nasal Spray, Nasal Drops, Nasal Ointment, Others), By Application (Disease Treatment, Research/Academic Purposes), And By Geography - Forecasts From 2019 To 2024

The nasal drug delivery market is projected to grow at a CAGR of 6.58% to reach US$76.083 billion by 2024, from US$51.917 billion in 2018. Nasal drug delivery is referred to the transfer of drugs into the human body through an intranasal route of administration. These are in high demand owing to the convenience of administration in addition to providing improved patient compliance. Also, there are certain drugs that are not suitable for oral or parenteral administration, thus, calling for the need for nasal drug delivery systems. Furthermore, rising R&D investment, and growing health expenditure are driving the growth of the global nasal drug delivery market in the forecast period.

DRIVERS

Non-suitability of certain drugs via the oral or parenteral route of administration.

Increasing health expenditure worldwide.

RESTRAINTS

Stringent regulations regarding the approval of drugs and medical devices.

INDUSTRY UPDATE

On February 4, 2019, Optinose announced that it has entered into a license agreement with Inexia where Inexia has obtained certain rights which will enable the utilization of the Optinose Exhalation Delivery Systems (EDS) and other intellectual property for the discovery and development of novel therapies.

On June 12, 2017, Nemera entered into a partnership with the Research Center for Respiratory Diseases (CEPR) of Tours University in order to increase the drug's therapeutic effectiveness in the nasal cavity. The partnership is for the development of a new method of nasal administration.

The major players profiled in the nasal drug delivery market include OptiNose, Inc., Korten Pharmaceuticals Pvt. Ltd., Catalent, Inc, Cipla Inc., and Perrigo Company plc.

Nasal Drug Delivery Market Scope:

Segmentation

The nasal drug delivery market has been analyzed through the following segments:

By Dosage Form

Nasal Spray

Nasal Drops

Nasal Ointment

Others

By Application

Disease Treatment

Research/Academic purposes

By Geography

North America

USA

Canada

Mexico

South America

Brazil

Argentina

Others

Europe

United Kingdom

Germany

France

Others

Middle East and Africa

Saudi Arabia

UAE

Israel

Others

Asia Pacific

China

India

Australia

South Korea

Others