Nasal Drug Delivery Systems Market to Surpass US$ 98.4 Mn by 2030

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$ 60.3 Million in 2022 and is expected to exhibit a CAGR of 6.3% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

Increasing inorganic activities such as agreement by market players is expected drive the market growth over the forecast period. For instance, on February 28, 2022, Acerus Pharmaceuticals Corporation, a specialty pharmaceutical company, announced that it had entered into a definitive agreement to indirectly acquire Serenity LLC and the global rights to its Noctiva brand in a combined cash and stock transaction. Serenity LLC, is a U.S based specialty pharmaceutical company, focused on developing therapies for diseases associated with voiding disorders, and had previously been granted approval by the U.S. Food and Drug Administration (FDA) for its Noctiva (desmopressin acetate) nasal spray. Noctiva is indicated for the treatment of nocturia due to nocturnal polyuria in adults.

Global Nasal Drug Delivery Systems Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

However, the COVID-19 pandemic had a positive impact on the global nasal drug delivery systems market, owing to increased research and product development by market players against Covid-19. For instance, on July 13, 2022, SaNOtize Research & Development Corp., a Canada based anti-infective-focused therapeutics Company, and Glenmark Pharmaceuticals Limited, a global pharmaceutical company, have published results of a Phase 3 clinical trial in The Lancet, a scientific journal, illustrating the effectiveness of nitric oxide nasal spray (NONS) for the treatment of adult patients with COVID-19. Nitric oxide is a naturally occurring molecule known to have antimicrobial properties, including a direct effect on SARS-CoV-2, the virus that causes COVID-19, and its variants. The study is titled SARS-CoV-2 accelerated clearance using a novel nitric oxide nasal spray (NONS) treatment.

Global Nasal Drug Delivery Systems Market: Key Developments

On January 14, 2022, Glenmark Pharmaceuticals Limited, a research-led, global integrated pharmaceutical company had announced that its fully owned subsidiary Glenmark Specialty S.A. (Switzerland), received The U.S. food and drug administration (FDA) approval on its New Drug Application (NDA) for Ryaltris, an innovative, fixed- dose (metered), prescription, combination drug product nasal spray for the treatment of symptoms of Seasonal Allergic Rhinitis in adults and pediatric patients 12 years of age and older in the U.S.

Browse 34 Market Data Tables and 38 Figures spread through 156 Pages and in-depth TOC on “Global Nasal Drug Delivery Systems Market”- Forecast to 2030, 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)

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

Moreover, increasing awareness about advantages of nasal drug delivery is expected to drive the market growth during the forecast period. Major advantages of nasal drug delivery are that, the drug circumvents hepatic first-pass metabolism, leading to high bioavailability as compared to drug administered orally. On the other hand, parenteral route of administration is also inconvenient for long term therapeutic treatment. Nasal cavity being highly vascular enhances the drug absorption resulting in rapid onset of action. Moreover, ease of administration coupled with non-invasive method is driving adoption of nasal drug delivery systems, in turn propelling nasal drug delivery systems market growth.

Key Takeaways of the Global Nasal Drug Delivery Systems Market:

• Global nasal drug delivery systems market is expected to exhibit a CAGR of 6.3% during the forecast period due to increasing product approvals by the regulatory authorities. For instance, on September 03, 2021, Impel NeuroPharma, Inc., a commercial-stage biopharmaceutical company developing transformative therapies for people suffering from diseases with highly unmet medical needs, with an initial focus on the central nervous system, had announced that the U.S. Food and Drug Administration (FDA) approved TRUDHESA (dihydroergotamine mesylate) nasal spray (0.725 mg per spray) for the acute treatment of migraine with or without aura in adults.
• Among Dosage Form, the Nasal Spray segment holds a dominant position, owing to increasing product approvals from regulatory authorities. For instance, on August 17, 2020, Emergent BioSolutions Inc. a specialty biopharmaceutical company had announced that the U.S. Food and Drug Administration (FDA) had approved the extension of the shelf life of NARCAN (naloxone HCl) Nasal Spray from 24 months to 36 months. Narcan Nasal Spray was the first intranasal form of naloxone approved by U.S. FDA and Health Canada for the emergency treatment of known or suspected opioid overdose.
• Among regions, North America is expected to hold the dominant market for nasal drug delivery systems, owing to increasing manufacturing facility expansion by market players in the region. For instance, on April 29, 2022, Catalent, a global provider of delivery technologies, development, drug manufacturing, biologics and gene therapies, had announced a significant expansion of its nasal capabilities at its Morrisville, Research Triangle Park (RTP), North Carolina, U.S. facility, to provide services for the development and manufacturing of unit and bi-dose nasal spray products. The expansion is in response to the rise in demand for nose-to-brain drug administration, and as an alternative route for the delivery of systemic drugs, rescue therapies, and vaccines.
• Major players operating in the global nasal drug delivery systems market include Merck & Co., Inc., GlaxoSmithKline plc, AstraZeneca plc, Johnson & Johnson, Pfizer Inc., Baxter International, Inc., Valeant Pharmaceuticals International, Inc., Becton, Dickinson and Company, and Novartis AG