Intranasal Drug Delivery Devices Market Will Grow Significantly Owing To Growing Prevalence Of Chronic Diseases Requiring Intranasal Drugs
Intranasal Drug Delivery Devices Market Will Grow Significantly Owing To Growing Prevalence Of Chronic Diseases Requiring Intranasal Drugs
Blog Article
Intranasal drug delivery devices offer advantages such as ease of administration and rapid onset of action of drugs. These devices facilitate non-invasive delivery of drugs directly to the brain via the nasal route, bypassing first-pass metabolism and avoiding gastrointestinal degradation of drugs. Intranasal drug delivery is rapidly gaining prominence for local treatment of allergies and nausea, systemic delivery of drugs to treat migraine, Parkinson's disease, and Alzheimer's disease.
Global intranasal drug delivery devices market is estimated to be valued at USD 1.70 Bn in 2024 and is expected to reach USD 3.27 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.
Key Takeaways
- Key players operating in the intranasal drug delivery devices are BD, AptarGroup, 3M, Teleflex, and Bespak.
- Increasing prevalence of chronic diseases such as Parkinson's disease and Alzheimer's disease is driving the demand Intranasal Drug Delivery Devices Market Trends. The ability of these devices to efficiently deliver drugs for treating such conditions is a major factor boosting their adoption.
- Technological advancements in intranasal drug delivery devices involving development of unit-dose and metered-dose spray pumps, breath-actuated nasal sprays, and multidose nasal sprays have increased the efficiency and ease-of-use of these devices. This is expected to further fuel market growth during the forecast period.
Market Trends
- Mono/duo therapies are increasingly replacing combination therapies owing to lesser side effects. This trend is prompting companies towards development of stand-alone intranasal therapies for various indications.
- Integration of digital technologies and connectivity features is another important trend leading to development of "Smart" intranasal drug delivery devices with tracking and compliance monitoring capabilities.
Market Opportunities
- Significant unmet needs exist for non-invasive drug delivery in pediatric patients and elderly. This creates immense opportunities for development of innovative child-friendly and senior-friendly intranasal drug delivery devices.
- Emerging markets such as Asia Pacific and Latin America are expected to drive future market growth owing to increasing healthcare investments and rising awareness regarding benefits of intranasal drug administration. Manufacturers are focused on expanding their presence in these high potential regions.
Impact of COVID-19 on Intranasal Drug Delivery Devices Market Growth
The COVID-19 pandemic has significantly impacted the growth of the intranasal drug delivery devices market. During the initial lockdown phases imposed globally to curb the spread of the virus, pharmaceutical companies witnessed major disruptions in their supply chains. This led to shortages of intranasal drug delivery devices supplies, negatively impacting the market growth. However, as intranasal drug delivery provides non-invasive routes for administering medications to treat symptoms related to COVID-19 like fever, cough, cold and congestion, its demand increased significantly during the pandemic.
Many pharmaceutical firms accelerated their efforts to develop nasal spray versions of vaccines and therapeutics to fight COVID-19. This created opportunities for growth of the intranasal drug delivery devices market post pandemic. However, challenges in clinical trials and regulatory approvals of such nasal formulations delayed their commercial availability. Overall, while the pandemic had short term negative impacts, in the long run it boosted awareness about advantages of intranasal drug delivery and focused efforts to leverage this route for combating respiratory infections like COVID-19. This is expected to fuel continued growth in demand for associated devices over the forecast period.
The United States accounts for the largest share of the intranasal drug delivery devices market in terms of value. This is attributed to the presence of many global pharmaceutical players engaged in research and development of nasal formulations in the country. Moreover, the US healthcare system is more advanced in approval and adoption of new drug delivery technologies compared to other regions. Europe holds the second largest market share due to supportive regulatory environment and increasing uptake of self-administered intranasal therapies to treat allergies and migraine headaches.
However, the Asia Pacific region is poised to be the fastest growing market for intranasal drug delivery devices during the forecast period. Factors such as rising healthcare expenditures, increasing focus on development of generic nasal drug products, growing incidences of various respiratory diseases are expected to drive high demand. Moreover, presence of large patient bases, especially in emerging countries like India and China, provide huge opportunities for market players in the Asia Pacific region.
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