The intranasal drug delivery devices market has witnessed increased adoption owing to the ease of self-administration and non-invasive nature of intranasal delivery. Intranasal drug delivery devices allow medications to enter the systemic circulation either through the blood vessels in the nasal mucosa or by being transported to the lungs and entering the systemic blood circulation from there. Intranasal devices bypass gastrointestinal and hepatic first-pass metabolism allowing for significantly higher bioavailability of various drugs administered through this mode.
Global intranasal drug delivery devices market is estimated to be valued at USD 1.70 Bn in 2024 and is expected to reach USD 3.27 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.
Key Takeaways
Key players operating in the intranasal drug delivery devices are Teva Pharmaceuticals, Aptar Pharma, UCB, Bespak, Mystic Pharmaceuticals, Omron Corporation.
The intranasal drug delivery devices market is witnessing increased demand owing to advantages such as reduced drug degradation, better patient compliance and accuracy of dosing.
Leading manufacturers are expanding their geographic presence through partnerships and mergers and acquisitions to strengthen their foothold in high growth regions of Asia Pacific and Latin America.
Market key trends
One of the key trends being witnessed in the Intranasal Drug Delivery Devices Market Trends is the increasing focus on modifications and innovations to device designs. Companies are innovating novel propellant-based and pump-based devices to offer patients with finer spray characteristics and precise dosing. Further, modifications are being made to device ergonomics and user interface for enhanced comfort and ease of use. These developments are expected to further increase adoption and drive revenues for players in the market.
Porter's Analysis
Threat of new entrants: Entry is difficult due to high capital requirement for manufacturing and R&D. Bargaining power of buyers: Buyers have medium to high bargaining power due to availability of substitutes. Bargaining power of suppliers: Suppliers have medium bargaining power due to availability of substitute raw materials. Threat of new substitutes: Threat of new substitutes is medium as alternate routes of drug administration are available. Competitive rivalry: Intense competitive rivalry exists between established players to gain market share.
Geographical Regions
North America holds the largest share of the intranasal drug delivery devices market, mainly due to the high incidence of allergic rhinitis and migraine headaches. Increased adoption of self-administered delivery devices along with rising awareness regarding nasal drug delivery are also driving market growth.
The Asia Pacific region is expected to witness the fastest growth over the forecast period. This is attributed to a number of factors such as growing healthcare expenditures, rising incidence of chronic diseases, increasing generic competition, and emergence of several local manufacturers. Improving access to healthcare facilities and growing focus of market players on penetrating untapped markets will further augment market expansion in Asia Pacific.
Get this Report in Japanese Language:
Get this Report in Korean Language:
About Author:
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)
