DUBLIN, February 25, 2022 /PRNewswire/ — The “Intranasal Drug Delivery – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.
Amid COVID-19 crisis, Global Intranasal Drug Delivery Market Estimated at US$49.5 billion in 2020, is expected to reach a revised size of US$71.3 billion by 2026, growing at a CAGR of 6.2% over the analysis period.
Liquid dispensing devices, one of the segments analyzed in the report, is expected to grow at a CAGR of 5.8% to reach US$31.3 billion at the end of the analysis period. After an in-depth analysis of the business implications of the pandemic and its induced economic crisis, the growth of the Powder Dispensing Devices segment is readjusted at a revised CAGR of 7% for the next 7-year period. This segment currently accounts for a 31.5% share of the global intranasal drug delivery market.
The intranasal drug delivery market in the United States is estimated at US$21.9 billion in 2021. The country currently accounts for a 42.05% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$5.7 billion in 2026 with a CAGR of 8.4% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 4.8% and 5% respectively over the analysis period. In Europe, Germany is expected to grow at around 5.9% CAGR while the rest of the European market will reach US$6.1 billion at the end of the analysis period.
North America represents the world’s largest market for intranasal drug delivery, driven by the growing prevalence of respiratory disorders, such as asthma and COPD; the high adoption of the drug administration technique in health facilities; and the growing affinity of patients for affordable generic drugs. Technological developments are among the major growth factors in the US drug delivery industry. The US drug delivery market has witnessed significant developments in recent years, and the search for new technologies represents an ongoing effort to gain additional benefits. Apart from scientific advancements, other factors and issues such as availability of financial support, changing scientific policies, therapeutic protocols, government regulations and market forces are impacting the administration market. of drugs.
Europe represents the second largest market for intranasal drug delivery, followed by the Asia Pacific. The European market is expected to show rapid growth fueled by the increasing prevalence of chronic diseases targeted for intranasal therapeutics, growing geriatric care, pediatric care and home care markets. Emerging countries in Asiathe Middle East and Latin America, are expected to spearhead the growth of the global intranasal drug delivery market owing to the large pool of target patients, relatively higher GDP growth, improved public and private healthcare infrastructure , rising health care spending and increasing penetration of medical insurance. the Asia Pacificled by countries such as India and Chinais expected to show strong growth thanks to the booming population, rising per capita incomes, increased patient awareness of the benefits of intranasal medications, and increased investments from pharmaceutical companies.
Pressurized metered dose inhaler segment to reach $12 billion by 2026
In the global pressurized metered dose inhaler segment, United States, Canada, Japan, China and Europe will drive the CAGR of 6.1% estimated for this segment. These regional markets representing a combined market size of 7 billion US dollars in the year 2020 will reach a projected size of US$10.6 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$837.6 million by 2026, while Latin America will grow at a CAGR of 7.5% over the analysis period.
Select contestants (total of 77 featured) –
- Aptar Group, Inc.
- AstraZeneca Plc.
- Becton Dickinson and Company
- GlaxoSmithKline Plc.
- Johnson & Johnson Inc.
- Merck & Co., Inc.
- Novartis AG
- OptiNose US Inc.
- Pfizer, Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/tc5ysx
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SOURCE Research and Markets