Nasal Drug Delivery Market Growth: Market Expansion Strategies
The Nasal
Drug Delivery Market Size was estimated at USD 71.9 billion in 2022 and is
poised to reach at 128.7 billion in 2030 anticipated to expand at a compound
annual growth rate approx. CAGR of 7.55% for the forecast period of 2023-2030.
The nasal drug delivery market has witnessed significant
growth in recent years, and this trend is expected to continue in the coming
years. Nasal drug delivery offers several advantages over traditional routes of
administration, such as oral or injectable routes.
One of the key drivers for the growth of this market is the
increasing prevalence of chronic respiratory diseases, such as asthma and
chronic obstructive pulmonary disease (COPD). Nasal drug delivery provides a
targeted approach to deliver medications directly to the respiratory system,
offering quick relief and improved patient compliance.
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Moreover, nasal drug delivery is also gaining traction in
the field of central nervous system (CNS) disorders. The blood-brain barrier
poses a significant challenge for delivering drugs to the brain, but nasal drug
delivery bypasses this barrier and allows direct access to the CNS. This has
opened up new possibilities for treating neurological disorders like migraine,
Alzheimer's disease, and Parkinson's disease.
Key Market Segmentation:
By Dosage
·
Nasal Spray
·
Nasal Drop
·
Nasal Gel
·
Nasal Powder
By Container Type
·
Pressurized Containers
·
Non-pressurized Containers
By Therapeutic Application
·
Nasal Congestion
·
Rhinitis
·
Asthma
·
Others
By Distribution Channel
·
Hospital Pharmacies
·
Retail Pharmacies
·
Online Pharmacies
Key players
The
major Key Players 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, and others.
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