Market Trends of Nasal Drug Delivery Industry
This section covers the major market trends shaping the Nasal Drug Delivery Market according to our research experts:
Drops and Liquids is Expected to be the Fastest Growing Segment During the Forecast Period
Drops and liquids segment is estimated to be the fastest-growing dosage form segment with a high CAGR and its growth can be attributed to the affordability and treatment success rates of these liquid products. As there has also been a rising demand for self-administration and increasing patient compliance that is also likely to augment the market growth.
In addition, the availability of various nasal drops and liquids products in the market is expected to contribute to the segment growth over the coming years.
North America is Anticipated to Dominate the Nasal Drug Delivery Market
The North America region dominates the nasal drug delivery technology market due to the advanced technology, products launches and innovation, growing prevalence of asthma and chronic obstructive pulmonary disease and increasing adoption of early treatment procedures. As the chronic obstructive pulmonary disease is found to be the third leading cause of death in the United States, therefore the increasing prevalence of COPD may help in increasing the adoption of nasal drug delivery devices. There are also an the increasing number of individuals with asthma that helps to witness strong growth over the forecast period.
Asia Pacific is also expected to witness the fastest CAGR due to the availability of effective treatment methods, high unmet clinical needs, rising disposable income levels, and increasing awareness about these products.
