Intranasal Drug Delivery Devices Market to Hit US$ 2.98 BN by 2030

According to Report, the intranasal drug delivery devices market size is predicted to hit USD 2.98 billion by 2030 and growing at a CAGR of 12.8% from 2021 to 2030.

The intranasal drug delivery devices are mostly used for diagnostics and treatment of the respiratory disorders, chronic obstructive pulmonary disorders, and asthma. The factors such as rising prevalence of respiratory disorders, growing patient preference for intranasal drug delivery devices, and technological innovations is creating opportunities for the growth of the global intranasal drug delivery devices market over the forecast period.

Furthermore, the continuous efforts by government in promotion of adverse effects of diseases are driving the growth of the global intranasal drug delivery devices market. Globally, the government agencies and nonprofit organizations are conducting awareness campaigns for the promotion of importance and advantages of intranasal drug delivery devices. Initially, asthma was a severe disorder which cannot be treated by any medications or devices. But due to technology innovations and advancements, asthma can be treated effectively and efficiently. The major market players are also promoting and marketing the benefits of asthma inhaler. All of these aforementioned factors are propelling the expansion of the global intranasal drug delivery devices market over the projection period.

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The demand for intranasal drug delivery devices is growing among developing and developed regions such as North America, Asia-Pacific, and Europe. This is attributed to the growing presence of complex healthcare framework and rising incidence of respiratory disorders. The increasing expenditure on healthcare and the surge in government investments for key market players to launch new and innovative products is boosting the growth of the global intranasal drug delivery devices market during the forecast period.

Report Highlights:

• Based on the system, the multi-dose systemssegment dominated the global intranasal drug delivery devices market in 2020 with largest market share. The multi-dose systems are effective and efficient in nature. This type of system avoids the contamination of drug formulas.
• On the basis of application, the asthmasegment holds the largest market share the global intranasal drug delivery devices market in 2020. According to the World Health Organization (WHO), in 2019, asthma affected around 262 million people and caused deaths of almost 461,000 people. As a result of growing incidence of asthma, the intranasal drug delivery devices market is expected to grow.
• Based on the end user, the hospitals segment dominated the global intranasal drug delivery devices market in 2020 with largest market share. Most of the people visit hospitals for the treatment of respiratory disorders. Thus, hospitals are driving the growth of the global intranasal drug delivery devices market.
• North America is the largest segment for intranasal drug delivery devices market in terms of region. The rising incidents of asthma and chronic obstructive pulmonary diseases in the North America is contributing towards the growth of the intranasal drug delivery devices market in the region.
• Asia-Pacific region is the fastest growing region in the intranasal drug delivery devices market. Some of the areas of Asia-Pacific region are highly polluted. This causes the growth of the asthmatic patients in the region. This has resulted in growing demand for inhalers, causing growth in the intranasal drug delivery devices market.

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Future of Intranasal Drug Delivery Devices Market

According to the World Health Organization (WHO), the third leading cause of death globally is chronic obstructive pulmonary disease. The patients who are suffering from chronic obstructive pulmonary diseases caused 3.23 million deaths in 2019. As a result, the growing number of people suffering from asthma and chronic obstructive pulmonary disease is expected to create lucrative growth prospects for the intranasal drug delivery devices market in the near future.

COVID-19 Impact Analysis:

• The impact of COVID-19 outbreaks on the intranasal drug delivery devices market was quite optimistic.
• The people who are suffering with the respiratory diseases are more vulnerable to coronavirus.
• This factor had positive impact on the intranasal drug delivery devices market in terms of revenue and sales growth.

Key Developments in the Marketplace:

• Herantis and Nanoform Finland signed the deal for composition of prototype studies in February 2021, announcing their merger on intranasal drug delivery to the brain.
• Sanofi Pasteur teamed up with WRAIR and The Oswaldo Cruz Foundation to perform research and development for a Zika vaccine in 2016.
• Hikma Pharmaceuticals PLC stated in December 2020 that the Food and Drug Administration has approved a generic version of GlaxoSmithKline’s Advair Diskus medication. It’s a turning point in the firm’s plan to create more sophisticated respiratory solutions.
• Merck teamed up with Premier Inc. in 2017 to create a preventive care approach aimed at increasing adult immunization rates.

Major Market Segments Covered:

By System

• Metered Dose
• Multi-Dose Systems
• Unit-Dose Systems

By Container

• Non-Pressurized Containers
• Pressurized Containers

By Application

• Chronic Obstructive Pulmonary Disease (COPD)
• Rhinitis
• Cystic Fibrosis
• Nasal Congestion
• Asthma
• Others

By End User

• Ambulatory Surgical Centers
• Clinics
• Hospitals
• Others

By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

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