The global Intranasal Drug Delivery Devices market is estimated to be valued at US$ 3.27 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period from 2024 to 2031.
Intranasal drug delivery devices are medical tools that deliver drugs to patients through nasal administration. The nasal route provides direct access to the systemic circulation through rapid drug absorption from the nasal mucosa without gastrointestinal degradation. Intranasal drug delivery is a non-invasive method that can bypass hepatic first-pass metabolism and provide rapid pharmacological effect.
Intranasal drug formulations are utilized for local treatment of sinusitis and nasal congestion and also systemic delivery of drugs for conditions like migraine, motion sickness, depression, allergies and more. The global Intranasal Drug Delivery Devices Market Demand is witnessing significant growth due to increasing geriatric population, rise in self-administration of drugs and technological advancements.
Key Takeaways
Key players operating in the Intranasal Drug Delivery Devices market are GlaxoSmithKline PLC, AstraZeneca PLC, Pfizer, Inc., OptiNose, Inc., 3M Company, Becton, Dickinson and Company, Promius Pharma, LLC, Cadila Pharmaceuticals Ltd., B.F. Ascher & Company, Inc., PendoPharm, Inc., Douglas Pharmaceuticals Ltd., ENT Technologies Pty. Ltd., NAVEH Pharma Ltd., Novartis AG, Neurelis, Inc., Aptargroup, Inc.
The growing prevalence of chronic conditions like migraine, nasal congestion, allergies and neurological disorders are fueling the demand for convenient and non-invasive intranasal drug delivery systems.Self-administration of drugs through nasal sprays and droplets enable patients to gain instant relief without medical supervision which is increasing popularity.
Major drug makers are expanding their intranasal formulations portfolio and collaborating with device partners to develop advanced delivery technologies for large untapped markets in Asia Pacific and Latin America regions. The intranasal drug delivery market is witnessing significant opportunities globally due to rising healthcare investments and patient acceptance of nasal drug delivery.
Market Key Trends
Intranasal Drug Delivery Devices Market Trend is the development of bi-directional delivery devices that distribute the drug dose to the upper as well as lower nasal cavities for optimum absorption and effectiveness. Bi-directional devices aim to maximize drug deposition in the nasal cavity and enhance drug transport to systemic circulation. Other innovative intranasal spray technologies entering the market include unit-dose sprayers, bubble-jet sprayers and electronic metered-dose inhalers powered by batteries or solar cells. Such advanced intranasal delivery devices effectively self-administer precise drug dosing and gain better patient adherence for long-term therapies.
Porter’s Analysis
Threat of new entrants: Low capital requirements required overall for manufacturing but high costs for R&D and distribution network needed. Bargaining power of buyers: Large pharmaceutical companies have significant bargaining power over device manufacturers due to consolidation in the industry. Bargaining power of suppliers: Suppliers of raw materials and components have limited bargaining power as intranasal drug delivery devices have many supplier options. Threat of new substitutes: New drug delivery technologies like transdermal patches pose a substitute threat but intranasal delivery provides distinct advantages for certain drugs and conditions. Competitive rivalry: Intense competition exists between major players to gain market share through new product launches and partnerships with pharmaceutical companies.
Geographical Regions
North America currently accounts for the largest share of the global intranasal drug delivery devices market in terms of value due to high adoption rates and advanced healthcare infrastructure in the US and Canada. Asia Pacific is poised to be the fastest growing regional market during the forecast period owing to rising healthcare expenditures, growing population, and increasing incidence of chronic conditions in highly populated nations like India and China.
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*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile