The Global Nasal Drug Delivery Mode market is expected to grow at a high rate on an account of the burgeoning number of asthma and rhinitis patients worldwide. According to the WHO, more than 339 million people are living with asthma and over 80% of asthma-related deaths occur in low-and lower-middle-income countries. The increasing air pollution, rising consumption of tobacco smoke, and snowballing research and development by the market players is placing a significant impact on the growth of the nasal drug delivery market. Moreover, the COVID-19 pandemic has surged the concern of people with asthma or rhinitis as these are likely to get SARS-CoV-2 as the virus attacks the lungs and can trigger asthma symptoms like wheezing, chest tightness, and difficulty breathing. Thus, to overcome this issue, the demand for nasal drugs is gradually proliferating which is further expected to accelerate the market growth of nasal drug delivery mode in the forecast period.
According to MarkNtel Advisors’ research report titled “Global Nasal Drug Delivery Mode Market Analysis, 2020”, the Global Nasal Drug Delivery Mode market is anticipated to grow at a CAGR of around 6.4% during 2020-25. Based on therapeutic application, asthma dominated the Global Nasal Drug Delivery Mode market and is projected to maintain its dominance in the forecast years. Asthma is one of the major non-communicable diseases and is a chronic disease among children and adults in both developed and developing countries. According to the Global Asthma Report 2018, around 300 million people have asthma worldwide, and by 2025 a further 100 million may be affected.
Apart from this, the outbreak of COVID-19 pandemic globally has increased the concern for people suffering from respiratory conditions such as asthma, and this is projected to promote the growth of the nasal drug delivery mode market.
“Global Nasal Drug Delivery Mode Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Nasal Drug Delivery Mode providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Asia-Pacific Exhibits the Fastest Growth
Asia-Pacific is expected to attain the highest CAGR by 2025. India acquired a significant market share in the Asia-Pacific segment on an account of a boost in the consumption of tobacco, an increasing number of smokers, and rising levels of air pollution in the country. India has the second-largest tobacco-using population in the world after China. According to WHO, tobacco kills more than 1 million people each year in India, accounting for 9.5% of all deaths. It is estimated that 1 million tobacco-related deaths occurred in India in 2018 as compared to about 930,000 adult deaths in 2010. Along with this, an escalating rate of investment in research & development activities, growing prevalence of chronic diseases such as asthma in people, and rising self-administration amongst individuals are anticipated to bolster the growth of the Nasal Drug Delivery Mode Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Nasal Drug Delivery Mode Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global Nasal Drug Delivery Mode market are Merck & Co., Inc., GlaxoSmithKline Plc, AstraZeneca, Johnson & Johnson Services Inc., Mystic Pharmaceuticals, Bausch Health, BD, 3M, AptarGroup, Inc., OptiNose US, Inc., Dr. Reddy’s Laboratories Ltd., Flo Nasal Products, Cadila Pharmaceuticals, PendoPharm Inc, Neurelis, Inc.
1. By Therapeutic Application (Asthma, Rhinitis, Other)
2. By Dosage Form (Powder, Gel, Spray, Drop)
3. By Container Type (Pressurized Container, Non-Pressurized Container)
4. By System Type (Multi-Dose, Bi-Dose, Unit Dose)
5. By End-User (Hospitals, Homecare settings)
6. By Distribution (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)
7. By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
8. By Country (US, Canada, Brazil, Argentina, Spain, UK, Germany, France, Italy, China, India, Japan, South Korea, South east Asia, UAE, Saudi Arabia, Turkey, South Africa),
9. By Company (Merck & Co., Inc., GlaxoSmithKline Plc, AstraZeneca, Johnson & Johnson Services Inc., Mystic Pharmaceuticals, Bausch Health, BD, 3M, AptarGroup, Inc., OptiNose US, Inc., Dr. Reddy’s Laboratories Ltd., Flo Nasal Products, Cadila Pharmaceuticals, PendoPharm Inc, Neurelis, Inc. etc.)
Key questions answered in the study:
1. What are the current and future trends of the Nasal Drug Delivery Mode industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Nasal Drug Delivery Mode industry?
5. What is the customer orientation, purchase behavior, and expectations from the Nasal Drug Delivery Mode firms across various regions?