The market is estimated to grow at a CAGR of 6. 4% from 2020 to 2027. Growing prevalence of respiratory and CNS diseases, and increasing preference and awareness among patients about nasal delivery devicesare the major factorsdriving the growth of the nasal delivery devices market.
New York, Nov. 20, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nasal delivery devices Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Drug Type ; Delivery Technologies ; End User, and Geography" - https://www.reportlinker.com/p05988380/?utm_source=GNW
However, the challenges associated with nasal administration of drugsare hindering the growth of the market .
The initial proof-of-concept studies using novel nasal drug delivery devices showed promising results in the treatment of respiratory diseases, neurological disorders, and others.Drug delivery devices play an essential role in ensuring the delivery of entire drug to the target site in the nasal cavity.
In the last few decades, several innovative drug delivery approaches have been introduced that might overcome the challenges involved in crossing the blood-brain barrier (BBB).Several scientific studies support the speculation that the delivery of drugs through the nasal route may allow higher concentrations of drugs to cross the BBB.
The, rising incidence of neurological disorders would increase the demand for nasal delivery devices.According to the American Society of Clinical Oncology (ASCO), in 2020, ~3,540 brain and other CNS tumors have been diagnosed in children belonging to the age group of 0-14 years, in the US.
The report also stated that the brain and other CNS tumors are the second most common cancers among children, accounting for ~26% of cancer cases in children with <15 years of age.
Respiratory conditions such as acute lower respiratory tract infections, tuberculosis, chronic obstructive pulmonary disease (COPD-a disease spectrum that includes bronchitis and emphysema), asthma, and lung cancer are among the most common causes of severe illnesses and deaths globally.Growing urbanization and pollution, unhealthy lifestyle and habits, and high tobacco smoking prevalence are among the factors leading to the surge in respiratory and cardiovascular disease cases.
The respiratory could cause acute respiratory failure, treatment of which requires nasal drug delivery for continuous support.According to the Global Asthma Report 2018, published by Global Asthma Network, ~330 million people in the world are asthmatic.
In addition, as per the estimates of Global Burden of Disease, a special research project by the Institute for Health Metrics and Evaluation, in 2016, ~420,000 died due to asthma.According to a study published in the US National Library of Medicine National Institutes of Health in 2018, the prevalence of asthma is consistently high in Korea, especially among female and elderly populations.
Moreover, according to the Global Burden of Disease Study report, prevalence of COPD cases was 251 million in 2016. More than 90% of COPD deaths occur in low and middle-income countries (LMICs), and the disease is likely to become a leading cause of death in the world in the next 15 years.
Thus, the growing prevalence of respiratory diseases, neurological disorders, and other chronic diseases is boosting the demand for nasal delivery devices for effective drug delivery at the target sites.
The global nasal delivery devices market is segmented based ondrug type, delivery technologies, end user.Based on drug type, the market is segmented into anesthetics, antibiotics,pain relief drugs, calcium supplements,vasoconstrictors, antihistamines, and others.
The antihistaminessegment held the largest share of the market in 2019 and is anticipated to register the highest CAGR in the market during the forecast period.Based on delivery technologies, the nasal delivery devices market has been segmented into spray, nebulizers,inhalers, and others.The inhalers segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR in the market during the forecast period. Based on enduser, the nasal delivery devices market has been segmented into home caresettings, hospitals, and clinics.The home caresettings segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR in the market during the forecast period.
Council for Scientific and Industrial Research,Ministry of Health and Family Welfare,the World Health Organization, Pharmaceuticals and Medical Devices Agency, European Medical Association, Ministry of Health and Prevention, National Institute for Health, and Pharmaceutical Research and Manufacturers of America are among the essential secondary sources referred to while preparing this report.
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