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Posted by AdisoniDiaz on August 4, 2024 at 7:18am 0 Comments 0 Likes
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ContinueThe global Nasal Drug Delivery Technology Market was valued at USD 127.12 billion in 2022, expanding at a CAGR of 7.45% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing awareness regarding nasal products is one of the major factors driving the market.
The growing geriatric population is expected to positively drive the overall market. In 2020, there were 727 million people worldwide who are 65 years of age or older, according to a report by the United Nations Department of Economic and Social Affairs. The number of elderly people worldwide is expected to depict more than double growth during the next three decades, reaching over 1.5 billion in 2050. Between 2020 and 2050, the geriatric population is expected to grow in size across the nation. Globally, it is anticipated that the percentage of people 65 and older will rise from 9.3% in 2020 to almost 16.0% in 2050.
Moreover, increasing patient preference for nasal products owing to their efficacy and easy administration is anticipated to fuel the nasal drug delivery systems market growth. For instance, in February 2021, Nanoform Finland and Herantis announced their agreement on nasal drug delivery to the brain by creating a non-exclusive agreement for formulation proof of concept initiatives.
Additionally, the nasal drug delivery method is widely used to treat brain disorders as it offers a route for systemic circulation of drugs, low bioavailability, fast absorption, and desirable action. In this respect, nasal drug delivery could serve as an attractive non-invasive delivery method for CNS drugs. Moreover, nasal delivery of substances such as peptoids, raltitrexed, 5-fluorouracil telomerase inhibitors, and methotrexate has been shown to reduce brain tumors and increase survival in animal models.
Related Press Release@ Nasal Drug Delivery Technology Market Report
List of Key Players in Nasal Drug Delivery Technology Market
Nasal Drug Delivery Technology Market Report Highlights
Report Attribute |
Details |
Market size value in 2023 |
USD 76.89 billion |
Revenue forecast in 2030 |
USD 127.12 billion |
Growth rate |
CAGR of 7.45% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2018 - 2021 |
Forecast period |
2023 - 2030 |
Related Reports@
Inhalation And Nasal Spray Generic Drugs Market
Intranasal Drug And Vaccine Delivery Market
Nasal Drug Delivery Technology Market Segmentation
Grand View Research has segmented the global nasal drug delivery technology market based on dosage form, container type, therapeutic application, distribution channel, and region:
Nasal Drug Delivery Technology Dosage Form Outlook (Revenue, USD Billion, 2018 - 2030)
Nasal Drug Delivery Technology Container Type Outlook (Revenue, USD Billion, 2018 - 2030)
Nasal Drug Delivery Technology Therapeutic Application Outlook (Revenue, USD Billion, 2018 - 2030)
Nasal Drug Delivery Technology Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)
Nasal Drug Delivery Technology Regional Outlook (Revenue, USD Billion, 2018 - 2030)
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