Nasal Mucosa Drug Supply Device Market 2032: COVID-19 Impact, Global Industry Share, Demand, Revenue, Size, Trends, Development, Opportunity, Growth Factors, Gross Margin, Major Companies
Research Reports
Nov 14, 2023
Market Overview
Nasal Mucosa Drug Supply Device Market Research Report Information By Type (Dry Powder Inhaler, Metered Dose Inhaler, Nebulizer), By Application (Asthma, Chronic Obstructive Pulmonary Disease, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies) Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2032
The nasal mucosa drug supply device market industry is projected to grow from USD 84.09 billion in 2023 to USD 178.47 billion by 2032, exhibiting a CAGR of 7.4% during the forecast period (2023 – 2032).
The Nasal Mucosa Drug Supply Device market is witnessing significant growth as it addresses the demand for efficient and targeted drug delivery to the nasal mucosa. This market encompasses a range of devices designed to administer medications directly to the nasal cavity, offering advantages such as rapid absorption, reduced systemic side effects, and improved patient compliance.
Key factors driving the Nasal Mucosa Drug Supply Device market include the rising prevalence of nasal disorders, such as allergies and rhinitis, prompting the need for effective therapeutic solutions. Moreover, the development of innovative drug formulations and the increasing focus on patient-friendly administration methods are fueling the adoption of these devices.
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Market Segmentation
The Nasal Mucosa Drug Supply Device Market segmentation, based on type, includes dry powder inhaler, metered dose inhaler, nebulizer.
The Nasal Mucosa Drug Supply Device Market segmentation is based on applications that include asthma, chronic obstructive pulmonary disease, and others.
The Nasal Mucosa Drug Supply Device Market segmentation is based on the distribution channel that includes hospital pharmacies, retail pharmacies, and online pharmacies.
Competitive Analysis
The key players of the market are GSK plc (UK), AstraZeneca (UK), Pfizer, Inc (US) Becton, Dickinson, and Company (US), Dr. Reddy’s Laboratories (India), Cadila Pharmaceuticals Ltd (India), B.F. Ascher & Company, Inc (US), Douglas Pharmaceuticals Ltd (New Zealand), ENT Technologies Pty. Ltd (Australia), NAVEH Pharma Ltd (Israel) and others
Regional Analysis
Due to factors such as the increasing prevalence of respiratory diseases, the growing demand for nasal mucosa drug delivery systems, and the locations of the headquarters of many industry leaders, North America is projected to maintain its dominant position in the market through 2022.
The factors driving the growth of the nasal drug supply delivery device market in Europe, which are expected to make up the second largest market share, are the rising prevalence of asthma in the region, rising R&D activity, rising investment by the major players for expanding their business in the region, and the increasing prevalence of nasal polyps.
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The market for devices that deliver drugs to the nasal mucosa is projected to expand at a CAGR of 7.30% between 2019 and 2032 in the Asia-Pacific region. Reasons for this include the growing cost of healthcare, the number of elderly people, and business deals including supply and distribution agreements, mergers, and growth. Additionally, in 2022, Japan dominated the nasal mucosa medication supply device market share, while India’s market is expected to expand at the quickest rate in the Asia-Pacific region.
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The regions of the Middle East, Africa, and Latin America are grouped together as “The Rest of the World.” Increasing awareness of nasal drug delivery devices, rising medical facility, and the availability of better medical staff across the region are all contributing factors to the expansion of the nasal mucosal drug delivery device market in Latin America.
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