Global Nasal Drug Delivery Technology Market Projected to Reach $111.9 Billion by 2030
23 Aug 2023
DUBLIN, Aug. 23, 2023 /PRNewswire/ -- The "Nasal Drug Delivery Technology - Global Strategic Business Report" report has been added to
ResearchAndMarkets.com's offering.
Market Growth and Outlook
The global Nasal Drug Delivery Technology market, valued at US$74.8 billion in 2022, is poised for significant expansion, projected to reach a market size of US$111.9 billion by 2030. This growth is anticipated to occur at a steady Compound Annual Growth Rate (CAGR) of 5.2% over the analysis period from 2022 to 2030.
Among the segments analyzed, Nasal Sprays are expected to achieve a CAGR of 5.8%, reaching a market value of US$60.5 billion by the end of the analysis period. Furthermore, accounting for the ongoing post-pandemic recovery, the growth trajectory of the Drops & Liquids segment has been adjusted to a revised CAGR of 4.6% for the next eight years.
Regional Analysis
The United States is a key player in the Nasal Drug Delivery Technology market, estimated at a value of US$22.4 billion in 2022. Meanwhile, China, the world's second-largest economy, is forecasted to exhibit significant growth, projecting a market size of US$19.5 billion by the year 2030, supported by a CAGR of 4.8% from 2022 to 2030.
Other notable geographic markets include Japan and Canada, both predicted to experience growth rates of 5.1% and 4% respectively during the period from 2022 to 2030. Additionally, Germany, a prominent European market, is expected to achieve a CAGR of approximately 4.2%.
The analysis encompasses a comprehensive evaluation of the global Nasal Drug Delivery Technology market, covering various geographic regions, dosage forms, and therapeutic applications from 2014 to 2030.
The report provides insights into annual sales figures in US$ million, percentage CAGR, and market share for different dosage forms including nasal sprays, drops & liquids, other dosage forms, multi-dose, unit-dose, and therapeutic applications such as allergic & non-allergic rhinitis, nose congestion, vaccination, and other therapeutic applications.
Market Overview
The report offers an encompassing overview of the Nasal Drug Delivery Technology market, providing insights into market trajectories, the impact of global events such as Covid-19 and economic trends, key competitor market shares, and competitiveness across multiple geographies.
Conclusion
With a projected CAGR of 5.2% and reaching a market value of US$111.9 billion by 2030, the global Nasal Drug Delivery Technology market presents substantial growth prospects.
The demand for efficient and patient-friendly drug delivery methods is driving the development and adoption of nasal drug delivery technologies. As the healthcare landscape evolves, innovation in drug delivery techniques is expected to contribute to enhanced patient experiences and improved treatment outcomes.
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