south and central america nasal delivery devices Market

The South and Central America nasal delivery devices market is expected to reach US$ 7,548.89 million by 2027 from US$ 4,916.69 million in 2019. The market is estimated to grow at a CAGR of 5.6% from 2020 to 2027.

The growth of the market is attributed to driving factors such as increasing geriatric population across South and Central America and growing burden of non-communicable diseases. However, the market growth is hindered owing to the concerns related to the administration of the nasal delivery medications.

Drug delivery systems are technologies primarily used for the 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 rising geriatric population across the region is enhancing the nasal delivery devices market growth. The growing geriatric population is leading to several chronic non-communicable respiratory diseases, heart diseases, COPD, and others. This has increased the  the demand for nasal route of administration for easy absorption. According a report by the Brazil Statistical Institute published in 2017, people aged 65 and above are expected to reach 36% by 2050 in Brazil. A significant percentage of asthma and COPD patients are a part of this geriatric population. According to the National Health Survey conducted in 2018, asthma affected more than 6 million adults in Brazil. Similarly, as per the World Health Organization and the Brazilian Institute of Geography and Statistics, the geriatric population in Brazil is expected to reach ~55 million, which will result in a high prevalence of chronic heart diseases in the coming years. Thus, the increasing geriatric population across South and Central America is expected to fuel the growth of the nasal delivery devices market.

The COVID-19 pandemic has become the most significant challenge in the region. This challenge will be especially frightening for the regions such as Brazil and Argentina—as it will lead to reducing imports due to the disruptions in global trade. This  further increases the shortages of medical supplies and other goods, resulting in a considerable price increase. However, the nasal delivery device market in this pandemic is on increase due to the reduced demand for respiratory treatments. The countries are focusing mainly on the treatment of COVID-19 patients are looking for a better drug delivery option in vaccine development. 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.

Brazil Statistical Institute and GLOBOCAN are among the major primary and secondary sources referred to while preparing the report on the South and Central America nasal delivery devices market.