The Europe nasal delivery devices market is expected to reach US$ 24,072.24 million by 2027 from US$ 15,140.36 million in 2019. The market is estimated to grow at a CAGR of 6.0% from 2020 to 2027.
The growth of the market is attributed to driving factors such as rising geriatric population and government initiatives, and increasing incidences of neurological disorders. However, the market growth is hindered owing to the concerns associated with nasal drug delivery devices.
Drug delivery systems are the technologies majorly 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, an optimal route for brain-targeted therapies, and a superior bioavailability. Nasal administration route 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.
Several studies have shown the effectiveness of nasal drug delivery for the treatment of neurological disorders. This therapeutic platform can provide an efficient way to treat neurological diseases such as Parkinson’s disease, epilepsy, Alzheimer’s disease, and glioblastoma. The increasing prevalence of neurological disorders in Spain is likely to offer an attractive opportunity for the market players by 2027. According to a study published by the Scientific World Journal in 2015, the prevalence of epilepsy in Spain was 14.87 cases per 1,000 people over 18 years. Such a considerable prevalence of epilepsy is anticipated to increase the demand for brain targeted therapies, which will eventually drive the growth of the nasal delivery devices market during the forecast period. Intranasal drug delivery is an optimum way of needle-free drug delivery, as it is straightforward and a convenient mode to deliver drugs without complications. Also, this route of administration serves as a better strategy for brain-targeted drug delivery. Such a wide range of benefits provided by intranasal drug delivery are anticipated to drive the market growth.
The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Intranasal drug delivery has potential relevance for future clinical trials in the settings of disease spread prevention and treatment of SARS-CoV-2 and other viral diseases. The nose-to-brain route has demonstrated several benefits, as it is one way to bypass the blood-brain barrier and thus treat brain disorders. Therefore, many private and government organizations in Europe are partnering to develop nasal spray for COVID-19. For instance, a unique concept for a nasal spray mRNA vaccine against COVID-19 is being investigated in a new pilot project combining several promising concepts developed at the Chalmers University of Technology, Sweden; the University of Gothenburg; and AstraZeneca, among others. The group is exploring the design principles for nasal immunization and developing a biomimetic nanoparticle provided with immune enhancers and a targeting protein. Thus, the demand for nasal delivery devices may increase shortly for COVID-19 treatment. 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.
Spanish Society of Pharmaceutics and Pharmaceutical Technology (SEFIG) and Scientific World Journal are among the major primary and secondary sources referred to while preparing the report on the Europe nasal delivery devices market.