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$51.917billion in 2018. Nasal drug delivery is referred to the transfer of drug 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 which are not suitable for oral or parenteral administration, thus, calling for the need for nasal drug delivery systems. Furthermore, rising R&D investment, 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 oral or parenteral route of administration.
Increasing health expenditure worldwide.
RESTRAINTS
Stringent regulations regarding 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 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.
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
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