The Asia Pacific nasal delivery devices market is expected to reach US$ 21,402.86 million by 2027 from US$ 12,418.34 million in 2019. The market is estimated to grow at a CAGR of 7.1% from 2020 to 2027.
The growth of the market is attributed to driving factors such as increasing development in healthcare infrastructure and growing prevalence of diseases of central nervous system. However, the market growth is hindered owing to the issues regarding nasal delivery devices.
Drug delivery systems are technologies primarily used for controlled or targeted delivery of therapeutic agents to treat diseases or improve the health of patients. Nasal drug delivery is an efficient route of drug administration. It offers needle-free drug delivery, optimal route for brain-targeted therapies, and a superior bioavailability. Nasal route of administration is preferred in several disease indications such as Parkinson’s disease, prostate cancer, migraine, and influenza. Moreover, this route is suitable for sedation and for treating drug addiction.
The healthcare industry in APAC has been witnessing rapid transformation. Factors such as aging population, increasing income and affordability, and many unmet clinical needs in India are leading to high demand and utilization of healthcare services. According to the India Ageing Report by the United Nations Population Fund (UNFPA), in 2017, the elderly population in India has been growing at a high rate. By the end of the century, the elderly population will constitute nearly 34% of the total population.
China is among the leading countries developing healthcare infrastructure. The market players are developing technologically advanced nasal delivery devices—for instance, AptarPharma unveiled their inhalation drug delivery solutions at CPhI China 2018. Several organizations in China are supporting the R&D of nasal delivery devices. For Instance, the Astragalus Polysaccharides/Chitosan Microspheres for Nasal Delivery study was funded by the National Natural Science Foundation of China and Project of Collaborative Innovation Center for Target Drug Delivery System of the Weifang Medical University in 2017. To develop a vaccine against the COVID-19, China has been conducting robust research. For instance, in September 2020, China approved to conduct human clinical trials of the first nasal spray COVID-19 vaccine developed by the University of Hong Kong. Thus, the increasing development in healthcare infrastructure is driving the market growth.
APAC holds the maximum share of the global pandemic burden. Countries such as India, China, and Australia are among the worst-affected economies. The market players and governments are racing to develop the vaccine for COVID-19 with more convenient nasal drug delivery solutions. For instance, China started initial clinical studies of a nasal spray vaccine for COVID-19, co-developed by researchers at Xiamen University, the University of Hong Kong, and vaccine maker Beijing Wantai Biological Pharmacy Enterprise Co. Similarly, Atossa Therapeutics has reported positive interim safety data from the second cohort of participants in the Phase I clinical trial of its COVID-19 drug candidate (AT-301) given as a nasal spray; the trial was performed in Australia. Also, Australian biotech EnaRespiratory's experimental nasal spray, designed to boost the immune system to fight cold and flu, lowered levels of the virus that cause COVID-19 by up to 96% in ferrets. Due to the COVID-19 outbreak, the demand for albuterol products has increased. Hence, the US Food and Drug Administration approved India-based Cipla Ltd.'s company's copy of Merck & Co. Inc.'s Proventil HFA— the first generic version of the inhaler in the country. Additionally, Serum Institute of India (SII) is currently manufacturing nasal spray COVID-19 vaccine. The impact of the COVID-19 pandemic on the regional nasal delivery devices market is moderate.
Based on drug type, the nasal delivery devices market is segmented into anaesthetics, antibiotics, pain relief drugs, calcium supplements, vasoconstrictors, antihistamines, and others. The antihistamines segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR during the forecast period.
Based on delivery technologies, the nasal delivery devices market is 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 during the forecast period.
Based on end user, the nasal delivery devices market is segmented into home care settings, hospitals, and clinics. The home care settings segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR during the forecast period.
Organization for Economic Co-operation and Development (OECD) and Alzheimer’s and Related Disorders Society of India (ARDSI) are among the primary and secondary sources referred to while preparing the report on the Asia Pacific nasal delivery devices market.