Nasal Drug Delivery Devices Market (By Product: Dry Powder Inhaler, Metered Dose Inhaler, Nebulizer; By Application: Asthma, Chronic Obstructive Pulmonary Diseases, Others; By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global nasal drug delivery devices market is anticipated to grow at a CAGR of around 7.0% during the forecast period 2020 to 2027 and to reach around US$ 78.3 Bn by 2027.

Market Dynamics

Gradual increase in patients in hospitals suffering from various respiratory associated problems such as asthma, COPD, etc., coupled with demand for rising demand for non-invasive drug delivery devices among consumer is a major factors expected to drive the growth of global market. Growing prevalence of asthma and other respiratory problems in developed and developing countries and consumer preference for smart drug delivery devices that is minimally invasive is gaining attraction.

• According to U.S. Department of Health and Human Services, currently more than 25 million people in the United States have asthma. Approximately 14.8 million adults have been diagnosed with COPD, and approximately 12 million people have not yet been diagnosed.

High government spending on development of healthcare infrastructure for R&D activities and availability of favorable reimbursement policies in developed countries are factors expected to increase adoption of nasal drug delivery product further that will augment the growth of the target market.

In addition, increase in geriatric population in developing countries, high spending of the government in order to facilitate the adoption of advanced medical device and services, coupled with various benefits associated with use of these device such as easy drug delivery without any lag as compared to oral deliver, immediate effect, etc. which is increasing its demand from old age people further impacting the growth of target market positively.

Moreover, collaborative work between players operating in the global market in order to reduce the operational cost and introduce innovative products is expected to further support the growth of target market to a certain extent.

• In 2020, AstraZeneca collaborated with Silence Therapeutics in order to discover, develop and commercialize small interfering RNA (siRNA) therapeutics for the treatment of Cardiovascular, Renal, Metabolic and Respiratory diseases.

However, factors such as stringent government regulation related to product approval and complication related to overuse of nasal spray are hampering the growth of the global market.

Advancements by the major players in delivery devices and high investment for R&D activities are factor expected to create new opportunities for players operating over the forecast period. In addition, major players inclination towards developing countries in order to increase the profit ration is another factor expected to support the revenue traction of the target market.

Nasal Drug Delivery Devices Market Segment Analysis, 2019

The global nasal drug delivery devices market is segmented in to type, application, and distribution channel. The type segment is further bifurcated in to dry powder inhaler, metered dose inhaler and nebulizer. Among the distribution channel the online pharmacies is expected to witness faster growth over the forecast period. This is due to availability of heavy discount and offers on online orders and free home delivery is attracting consumers

Segment Analysis by Region

The market in North America is expected to account for major revenue share owing to high patient pool suffering from asthma. In addition, availability of advanced infrastructure in order to support the adoption of advanced devices and favorable reimbursement policies are among other factors expected to further support the market growth in this region.

Asia Pacific is expected to witness faster growth in the near future owing to high percentage of old age people suffering from respiratory problems. In addition, inclination towards emerging economies through partnerships and agreements in order to increase the customer base is another factor expected to support the growth of target market.

Competitive Landscape

Presence of large number of players operating on regional and international level is increasing the competition. In addition, business development activities and new product offerings are factors further augmenting the market competition. In addition, introduction of cost-effective products from regional players is forcing major players to operate on lower profit ratio making it difficult for players to operate further increasing the competition.

Report coverage

The market research study on “Nasal Drug Delivery Devices Market (Product: Dry Powder Inhaler, Metered Dose Inhaler, and

Nebulizer; Application: Asthma, Chronic Obstructive Pulmonary Diseases, and Others; Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies ) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”, offers a detailed insights on the global nasal drug delivery devices market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global nasal drug delivery devices market, product, application, distribution channel and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global nasal drug delivery devices market size and segment markets by product, application, distribution channel and geography along with the information on companies operating in the market. The nasal drug delivery devices market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Consort Medical plc., Vectura Group plc., 3M, Nemera, Aptar Group Inc., H&T Presspart Manufacturing Ltd., Teva Pharmaceutical Ltd., Gofire Inc., AstraZeneca, Pfizer, Inc., and Cadila Pharmaceuticals.

Market Segmentation

Market By Product

• Dry Powder Inhaler
• Metered Dose Inhaler
• Nebulizer

Market By Application

• Asthma
• Chronic Obstructive Pulmonary Diseases
• Others

Market By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa