The North America nasal delivery devices market is expected to reach US$ 36,940.74 million by 2027 from US$ 21,932.47 million in 2019. The market is estimated to grow at a CAGR of 6.8% from 2020 to 2027.
The growth of the market is attributed to driving factors such as rising prevalence of respiratory diseases and superior outcomes of intranasal drug delivery among patients. However, the market growth is hindered owing to the limitations regarding drug delivery medications.
Drug delivery systems are technologies primarily used for controlled or targeted delivery of therapeutic agents to treat diseases or improve the health of the 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, nasal route is suitable for sedation and for treating drug addiction.
Respiratory diseases such as acute lower respiratory tract infections, tuberculosis, chronic obstructive pulmonary disease (COPD), asthma, and lung cancer are among the most common causes of severe illnesses and deaths globally. These diseases can cause acute respiratory failure and its treatment requires nasal drug delivery. As per the Global Asthma Report 2018, published by Global Asthma Network, ~330 million people worldwide are asthmatic. Growing urbanization and pollution, unhealthy lifestyle and habits, and high tobacco smoking are among the factors leading to the surge in respiratory and cardiovascular diseases. As per the estimates of the Global Burden of Disease, a unique research project by the Institute for Health Metrics and Evaluation, ~420,000 people died due to asthma in 2016. The study by the US National Library of Medicine National Institutes of Health in 2018 states that the prevalence of asthma is consistently high in South Korea, especially among female and elderly population. Thus, the rising prevalence of respiratory diseases boosts the demand for nasal delivery devices for effective drug delivery.
North America has been witnessing a growing number of COVID-19 cases since its outbreak. To deal with the situation, the market players focus on their business operations of increasing the production capacities of nasal delivery devices. Moreover, various other technology giants are collaborating with the government agencies and ramping up the production of nasal delivery devices. For instance, AstraZeneca has announced the production volume of Flumist—a nasal-spray vaccine—to fight influenza. AstraZeneca claimed more than 25% doses than earlier planned of the nasal spray vaccine would be available to the commercial market in the US until September 2020. The increased production of nasal spray is a part of the pharma industry’s efforts to lower the burden on the healthcare system and ensure resources are available, if there is a resurgence or continuation at present levels of COVID-19. The impact of the COVID-19 pandemic on the regional nasal delivery devices market is high.
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.
Global Asthma Network and US National Library of Medicine National Institutes of Health are among the major primary and secondary sources referred to while preparing the report on the North America nasal delivery devices market.