Global Nasal Drug Delivery Systems Market to Surpass US$ 75 billion by 2026

Published On : Jul 13, 2018

Global Nasal Drug Delivery Systems Market, by Dosage Form (Nasal Spray, Nasal Drops, Nasal Gels, Nasal Powders, and Others), by Container Type (Non-pressurized Containers and Pressurized Containers), by System Type (Multi-dose, Bi-dose, and Unit Dose), by Therapeutics Application (Allergic and Non-allergic Rhinitis, Nasal Congestion, Vaccination, and Others), by Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 48.1 billion in 2018, and is projected to exhibit a CAGR of 6.3% over the forecast period (2018 – 2026) as highlighted in a new report published by Coherent Market Insights.

Novel drug delivery systems are one of the fastest growing segment in the pharmaceutical industry. Nasal is a transmucosal drug delivery system, used to administer drug through nasal cavity. Numerous studies are conducted to study the systemic bioavailability of drug and on nasal administration of vaccine, peptide and hormonal therapy, and other drugs which are usually delivered by parenteral route.

Growth in nasal drug delivery system market is attributed to high advantages of nasal administration and increasing innovative nasal drug delivery systems. Moreover, expanding therapeutic application is expected to drive growth of the nasal drug delivery systems market. For instance, number of pharmaceutical and biopharmaceutical companies are adopting nasal drug delivery system for the treatment of acute migraine, pain management, Alzheimer disease etc.

For instance, in 2016, Lannett Company, Inc. received Abbreviated New Drug Application (ANDA) approval from the U.S. FDA for its Sumatriptan Nasal Spray intended for the treatment of migraine. Moreover, in June 2018, Impax Specialty Pharma, Inc., a specialty pharmaceutical company, received US FDA approval for Zomig Nasal Spray to treat acute migraine in patients aged 12 years and above.

Furthermore, in 2017, FDA approved OptiNose U.S. Inc.’s Xhance, which is a novel combination of drug and device to deliver fluticasone propionate to treat nasal polyps. Such product launches with diverse therapeutic application are augmenting the nasal drug delivery systems market growth.

Browse Market Data 40 Tables and 38 Figures spread through 180 Pages and in-depth TOC on "Nasal Drug Delivery Systems Market, by Dosage Form (Nasal Spray, Nasal Drops, Nasal Gels, Nasal Powders, and Others), by Container Type (Non-pressurized Containers and Pressurized Containers), by System Type (Multi Dose, Bi Dose, and Unit Dose), by Therapeutics Application (Allergic and Non-allergic Rhinitis, Nasal Congestion, Vaccination, and Others), by End User (Hospitals and Home Care Settings) and by Region - Global Forecast to 2026”

To know the latest trends and insights related to nasal drug delivery systems market, click the link below:

https://www.coherentmarketinsights.com/market-insight/nasal-drug-delivery-systems-market-1944

Market players in nasal drug delivery systems are focusing on inorganic strategies, in turn consolidating the market. For instance, in 2014, Endo International plc, acquired Natesto, the first and only testosterone nasal gel till that date, from Trimel BioPharma SRL, used for the treatment of hypogonadism via replacement therapy.

Furthermore, in 2015, Eli Lilly and Company acquired Locemia's intranasal glucagon, which was in phase III clinical testing for the treatment of hypoglycemia. Such product acquisition is expected to strengthen the company’s product portfolio, in turn strengthening market share of the acquirer.

Key takeaways of the Nasal Drug Delivery Systems Market:

  • The global nasal drug delivery systems market is expected to expand at a CAGR of 6.3% during the forecast period (2018 – 2026), owing to increasing approvals for nasal drug delivery systems
  • Nasal spray segment is expected to be dominant, owing to large number of products offered in this segment and increasing research to launch new products in this segment
  • Some of the major players involved in global nasal drug delivery systems market include Merck & Co., GlaxoSmithKline plc, AstraZeneca plc, Johnson & Johnson, Pfizer Inc., Baxter International, Inc., Valeant Pharmaceuticals International, Inc., Becton, Dickinson and Company, and Novartis AG

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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