Acumen Research and Consulting estimate that the global Intranasal Drug and Vaccine Delivery market is expected to reach the market value of around US$ 60 Bn by 2028 and is anticipated to grow at a CAGR of around 7.1% in terms of revenue during the forecast period 2021 - 2028.
Drug distribution is a mechanism by which the patient's body absorbs a drug to create an important medicinal result. Different drug delivery mechanisms are used. The most common forms of drug distribution are nasal and pulmonary routes. The global drug procurement market is increasing at a significant pace as a result of expanded knowledge of the industry and technological developments in the sector. Intranasal drug administration refers to a nasal injection method of the prescribed drug. For acute or chronic treatments medications that are administered by nasal means may be recommended. Different types of medicines provided through the nasal cavity include anesthesia, pain relief medications, vaccines, vasoconstrictors, calcium supplements, antihistamines, snuffs, and more. The global intranasal drug delivery market can be divided into nasal sprays, ointments and treatments depending on the type of product. The clinical intranasal drug industry is categorized into analgesic infections, respiratory infections, pain control, osteoporosis, sexual dysfunction and vaccines dependent on medical uses. The global demand for the availability of intranasal drugs is growing at a substantial pace as the R&D for this distribution mode is rising. The utilization of the nasal cavity contributes to improved medication effectiveness. Intranasal administration of medications is also used to treat anxiety and depression.
The report provides analysis of global Intranasal Drug and Vaccine Delivery market for the period 2017-2028, wherein 2021 to 2028 is the forecast period and 2020 is considered as the base year.
One of the major factors driving the demand is growing preference for nasal drugs over parenteral and oral formulations for immediate relief.
Rising competition and technological developments are two of the main drivers of the sector. The clinical trials programs suggested for the treatment of different diseases have expanded spending in research and development.
Growing prevalence of chronic respiratory diseases raises the need for intranasal drugs and vaccination products, as medical providers also recommend due to the basic self-administration technologies. According to the CDC, 1 in 13 people suffer from asthma in 2020 and over 25 Mn Americans living and asthma. CDC has reported that an additional 14.2 million visits to clinics and 439,000 visits to clinics and 1.8 Mn annual trips to an emergency room accounted for asthma. Besides, thanks to their use in various formulations, including aqueous solutions, emulsions and suspensions, liquid distribution systems led the industry in 2020. The unit division is expected to experience positive growth as the treatment of multiple disabilities becomes gradually accepted. However, most of the vaccine formulations in production are single-dose formulations, although medical practitioners are generally prescribed with a single intranasal vaccine dosage.
North America retained highest market share in 2020 and is expected to dominate the world's target market, owing to rising nasal distribution in the region, as well as improved health facilities. Moreover, many policy interventions and a raise in the consciousness of individuals are some of the essential factors that drive the global intranasal drug industry. Europe is expected to pursue Asia Pacific. India and China are expected to be Asia Pacific's rapidly emerging market for the production of intranasal medicines. This is thanks to the massive investments made in these regions by many main firms. The large pool of patients and expanded policy investment and construction of medical facilities are two of the key driving factors on the global intranasal drug supply demand in developing countries.
Key Players & Strategies
Participants include major global Aegis Therapeutics LLC, AstraZeneca PlcMedImmune, Inc., Alza Corporation, Baxter International, Inc., Becton, Dickinson and Company, GlaxoSmithKline Plc., Johnson & Johnson, Inc., and Others.
Business leaders pursue a range of approaches to achieve a greater share of the consumer business, including major spending in research and growth, product enhancement and regional expansion in developed countries. In addition, some companies concentrate on the launch of cost-effective generic nasal supply products, thus stimulating business expansion and increasing access to emergency treatments. In April 2020, in the United States, The FDA licensed Teva Pharmaceuticals' first generic naloxone nasal spray for opioid overdose.
Intranasal Drug and Vaccine Delivery Market By Product
Liquid Delivery Device
Powder Delivery Device
Pressurized Metered Dose Inhaler
Intranasal Drug and Vaccine Delivery Market By Application
Intranasal Drug and Vaccine Delivery Market By End Use
Intranasal Drug and Vaccine Delivery Market By Geography
The Intranasal Drug and Vaccine Delivery market value is anticipated to be worth around US$ 60 Bn in 2028.
The Intranasal Drug and Vaccine Delivery market is anticipated to grow around 7.1% CAGR amid the forecast period 2021-2028.
North America held highest market share in 2019.
Asia Pacific is projected to be the fastest growing region in the global market.
The key players operating in Intranasal Drug and Vaccine Delivery market such as Aegis Therapeutics LLC, AstraZeneca Plc, MedImmune, Inc., Alza Corporation, Baxter International, Inc., Becton, Dickinson and Company, GlaxoSmithKline Plc., Johnson & Johnson, Inc., and Others.
The report provides insights on global Intranasal Drug and Vaccine Delivery market segment by product, application, end use and major geographic regions.
The Intranasal Drug and Vaccine Delivery market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).