Frequently Asked Questions:
The global nasal drug delivery technology market was valued at USD 72.5 Billion in 2022.
The nasal drug delivery technology market is expected to grow at a CAGR of 7.90% between 2023 and 2030, reaching USD 123.4 Billion in 2030.
Nasal spray is the leading segment by dosage form, holding over 43% share in terms of value in 2022.
Non-pressurized containers are the leading segment by container type, holding over 43% share in terms of value in 2022.
Rhinitis segment governs the demand for nasal drug delivery technology in the world, holding a massive share of over 80% in 2022.
The retail pharmacies segment is expected to post the highest CAGR during the forecast period.
North America is fueling the growth of the nasal drug delivery technology industry, with an over one-third share in 2022.
The top players include 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.; NAVEH Pharma Ltd.
The rising prevalence of chronic diseases and the increasing inclination for an alternate drug administration method that provides improved patient comfort are the major market drivers.
The major market restraints are histopathological toxicity or a smaller absorption region than orally delivered drugs.
Technological developments and the introduction of sophisticated nasal medication delivery devices are the major opportunities in the technology industry.