The global Nasal Drug Delivery Devices Market Size is prognosticated to reach USD 81.85 billion by 2026 attributable to the increasing number of the patient population and the rising prevalence of pulmonary disorders worldwide. This information is provided in a recently published report by Fortune Business Insights™ titled, “Nasal Drug Delivery Devices Market Size, Share and Global Trend By Type (Dry Powder Inhalers (DPIs), Metered Dose Inhalers (MDIs), and Nebulizers), By Application (Asthma, Chronic Obstructive Pulmonary Disease (COPD), and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) and Geography Forecast till 2026.” As per the report’s description, the market size was USD 46.34 billion in 2018 and is likely to exhibit a CAGR of 7.5% between 2019 to 2026.
The report covers:
- Global Nasal Drug Delivery Devices Market trends, with detailed analysis on consumer trends & manufacturer trends.
- Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
- Key areas of investments identifying market opportunities and challenges in forecast timeframe.
- Competitive analysis of the industry players along with the overview on strategic management.
- Comprehensive company profiles of the major industry players.
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Leading Players operating in the Nasal Drug Delivery Devices Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Consort Medical plc. (United Kingdom)
- Teva Pharmaceutical Industries Ltd.
- H&T Presspart Manufacturing Ltd.
- GOFIRE INC.
- AptarGroup, Inc. (United States)
- Vectura Group plc (United Kingdom)
For more information in the analysis of this report, visit: https://www.globenewswire.com/news-release/2020/03/04/1995068/0/en/Nasal-Drug-Delivery-Devices-Market-to-Reach-USD-81-85-Billion-by-2026-Market-to-Gain-from-Increasing-Patient-Population-Predicts-Fortune-Business-Insights.html
Rising Awareness About Nasal Spray and its Benefits will Help Market Gain Impetus
The increasing prevalence of respiratory disorders among people is a major factor boosting the nasal drug delivery devices market growth. Additionally, the increasing prevalence of asthma and chronic obstructive pulmonary disease (COPD) cases is also aiding to the expansion of the market for pulmonary drug delivery devices. Besides this, analyst at Fortune Business Insights™ says, “The increasing patient population and the rising demand for inhalers are encouraging companies to set up new manufacturing units. This is further expected to drive the overall market in the forecast period.”
Europe to Dominate Owing to Rising Prevalence of Asthma
Geographically, the global nasal drug delivery devices market is categorized into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Among these, Europe is holding the largest share with a nasal drug delivery technology market revenue of USD 21.1 billion in 2018. This dominance is attributable to the increasing prevalence of asthma, coupled with the rise in awareness about nasal sprays and their benefits. Besides this, there is the rising popularity of inhalers in developing nations of this region, thereby boosting the regional market.
Apart from this, Asia Pacific market share is likely to attract significant nasal drug delivery devices market share owing to the rise in awareness campaigns about the use of inhalers and its benefits. Moreover, biopharma companies are utilizing novel technologies for introducing MDI and DPI into the regional market for higher revenue generation during the forecast period.
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