Nasal Drug Delivery Technology Market worth 64.20 Billion USD
Nasal Drug Delivery Technology Market by Dosage Form (Nasal Drops, Sprays, Powder, Gel), System (Multidose, Unit Dose, BI-Dose), Therapeutic Applications (Rhinitis, Congestion, Vaccinations), End User (Hospitals, Homecare) - Global Forecast to 2021.
The global nasal drug delivery technology market is projected to reach USD 64.20 Billion by 2021 from USD 44.00 Billion in 2016, at a CAGR of 6.5% during the forecast period. This market is segmented based on dosage form, therapeutic application, end user, system, container, and region.
The nasal drug delivery technology market is expected to witness significant growth in the coming years, due to the high demand and adoption of OTC products. Various pharmaceutical companies are focusing on the development of OTC drugs. This is expected to create growth opportunities for players offering nasal drugs, especially nasal sprays and drops which are majorly sold as generic OTC medicines.
North America is projected to dominate the market in 2016, with the U.S. accounting for a major share. However, Asia is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to investments by major companies in the area of R&D activities. Also, this region has low costs of labor and clinical trials, which has further served to draw market players to Asia.
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The nasal drug delivery technology market is at a very nascent stage with various players. Prominent players in this market include Merck & Co., Inc. (U.S.), Novartis AG (Switzerland), Johnson & Johnson Services, Inc. (U.S.), Pfizer, Inc. (U.S.), AstraZeneca plc. (U.S.), AptarGroup (U.S.), and GlaxoSmithKline plc (U.K.).
Target Audience:
- · Nasal Drug Delivery Technology Manufacturers
- · Public and Private Physicians
- · Healthcare Institutions (Medical Data Centers)
- · Research & Clinical Laboratories
- · Distributors and Suppliers of Nasal Drug Delivery Technologies
- · Health Insurance Payers
- · Market Research and Consulting Firms
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