Number of pages: 100 | Report Format: PDF | Published date: February 14, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Intranasal Drug Delivery Devices Market Overview
According to the deep-dive market assessment study by Growth Plus Reports, the global intranasal drug delivery devices market was valued at US$ 45.75 billion in 2021 and is expected to register a revenue CAGR of 8.5% to reach US$ 95.34 billion by 2030.
Intranasal Drug Delivery Devices Market Fundamentals
Intranasal drug delivery devices are used to administer drugs through the nasal cavity. This method of drug delivery has several advantages over other routes of administration, such as oral or intravenous injection. The nasal cavity is lined with a large surface area of blood vessels, which allows for the rapid absorption of drugs into the bloodstream. Additionally, the nasal cavity is directly connected to the central nervous system, making it a useful route of administration for intranasal drugs that need to act quickly. The intranasal drug delivery system also bypasses first-pass metabolism in the liver, which can increase the bioavailability of certain drugs. Some examples of drugs that have been used successfully in intranasal delivery include insulin for people with diabetes, pain relief with fentanyl and sufentanil, anxiety and seizure disorders with midazolam, and opioid overdose with naloxone. Some of the benefits of intranasal drug delivery devices include the non-invasive nature of the administration, convenience, increased patient compliance, targeted delivery to specific regions of the nasal cavity, and reduced side effects.
However, it is important to note that not all drugs can be administered intranasally, and formulations suitable for intranasal delivery may be different from the standard formulation.
Intranasal Drug Delivery Devices Market Dynamics
The intranasal drug delivery devices market revenue growth is driven by several factors, such as an increasingly aging population, a rising prevalence of chronic diseases, and a growing demand for non-invasive treatments. The use of intranasal drug delivery can help to improve patient compliance and satisfaction, which is also expected to drive market revenue growth. Additionally, advances in technology are projected to lead to the development of new intranasal drug delivery products and systems, which will also contribute to market revenue growth. One of the key drivers for the intranasal drug delivery devices market is the growing usage of intranasal products for pain management and also for the treatment of neurological and psychiatric disorders. This is due to the rapid onset of action provided by intranasal drugs, their ability to target the brain directly and avoid first-pass metabolism, leading to increased bioavailability and reduced side effects. This makes the intranasal route an attractive option for such type of therapies.
Another important driver for the market is the growing usage of intranasal drug delivery devices in the treatment of allergies and respiratory conditions. The non-invasive nature of these devices, combined with their ability to deliver drugs directly to the site of action, makes them an attractive option for the treatment of these types of conditions.
The market is expected to face certain challenges, such as the need for specialized equipment and proper training to administer intranasal drugs, and the cost of such equipment and training can be a barrier to the wider adoption of intranasal drug delivery. Additionally, the development and commercialization of intranasal products can be a challenge due to the regulatory requirements and the need for specific formulations.
Intranasal Drug Delivery Devices Market Ecosystem
The global intranasal drug delivery devices market has been analyzed from four perspectives: system, application, end user, and region.
Intranasal Drug Delivery Devices Market by System
Based on the system, the intranasal drug delivery devices market is segmented into metered-dose, multi-dose, and unit-dose systems.
Metered-dose inhalers, also known as MDIs, are devices that deliver a specific amount of medication in the form of a spray or mist. They are commonly used to deliver medications for the treatment of asthma and chronic obstructive pulmonary disease (COPD). Multi-dose systems are drug delivery devices that allow for multiple doses of medication to be delivered from a single device without the need for re-priming or re-filling the device. In 2021, the market for multi-dose systems accounted for a large revenue share of the market. These systems often use pressurized canisters or cartridges to deliver the medication and are commonly used for nasal sprays, metered-dose inhalers (MDIs), and dry powder inhalers (DPIs).
Unit-dose systems are drug delivery devices that are intended for single use and are discarded after the medication has been used. These systems are often pre-filled with a fixed amount of medication and are commonly used for nasal sprays, inhalers, and other types of intranasal drug delivery devices. Unit-dose systems are cost-effective and convenient. However, they generate waste as they are single use only, while multi-dose systems are reusable, which makes them more economical.
Intranasal Drug Delivery Devices Market by Application
Based on the application, the intranasal drug delivery devices market is segmented into chronic obstructive pulmonary disease (COPD), rhinitis, cystic fibrosis, nasal congestion, asthma, and others.
Allergic rhinitis is the most common condition that causes inflammation of the nasal passages and leads to various symptoms, such as sneezing, runny nose, and nasal congestion. Intranasal drug delivery devices are commonly used for the treatment of allergic rhinitis, as these devices allow for the medication to be delivered directly to the affected area. Migraine is a type of headache characterized by severe pain, often accompanied by nausea, vomiting, and sensitivity to light and sound. Intranasal drug delivery is an attractive option for the treatment of migraine as it allows for rapid pain relief and reduces the likelihood of side effects associated with oral medication.
Devices for intranasal medication administration are being used more frequently to treat asthma as well. Asthma affects 1 in 13 people, according to the Centers for Disease Control and Prevention (CDC). High incidence of asthma and ongoing research and development in intranasal drug delivery systems for better absorption are propelling revenue growth in the segment. Moreover, the rhinitis segment is projected to grow at a significant revenue CAGR during the forecast period. CNS disorders, such as depression and schizophrenia, are conditions that affect the central nervous system and can cause a wide range of symptoms.
Intranasal Drug Delivery Devices Market by End User
By end user, the intranasal drug delivery devices market is segmented into hospitals, clinics, homecare, and others.
Hospitals are one of the major end users of intranasal drug delivery systems, as these devices are commonly used in the treatment of various conditions, such as asthma, COPD, and nasal congestion. They are also used in the treatment of chronic pain and migraines.
Clinics are another major end user of intranasal drug delivery systems, as they provide diagnostic and therapeutic services for various conditions, and intranasal drug delivery systems are used in the treatment of various conditions, such as allergies and migraines. Homecare is becoming increasingly popular to treat various conditions, as intranasal drug delivery systems allow patients to self-administer medication in the comfort of their own homes, which is convenient and can help improve adherence to treatment regimens. Other end users may include ambulatory surgical centers, long-term care facilities, nursing homes, and retail pharmacies.
Intranasal Drug Delivery Devices Market by Region
Based on the region, the global intranasal drug delivery devices market is segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America accounted for the largest market revenue share in 2021. The prevalence of asthma and chronic obstructive lung disease is rising, and early intervention strategies are frequently employed to treat these conditions. COPD is the third most common cause of death in the U.S. Thus, the prevalence of COPD is driving the demand for nasal medication delivery systems.
The Asia Pacific market is anticipated to grow at the fastest revenue CAGR during the forecast period due to increase in R&D spending, a rise in the cases of chronic diseases, and growth in public awareness. Growth potential is created by the expanding patient population and the existence of significant healthcare providers in developing nations, such as China and India. Government spending is also driving up healthcare revenue in the Asia Pacific region.
Intranasal Drug Delivery Devices Market Competitive Landscape
The leading companies operating in the global intranasal drug delivery devices market are:
Intranasal Drug Delivery Devices Market Strategic Developments
Intranasal drug delivery is a method of administering medication through the nose into the nasal passages that offers advantages, such as the rapid onset of action, high bioavailability, and the ability to bypass the gastrointestinal tract and liver.
Key trends in the global intranasal drug delivery devices market include increasing usage for the treatment of neurological disorders, the growing geriatric population, rising demand for non-invasive drug delivery methods, and advances in technology.
OptiNose, Inc., Becton, Dickinson, and Company, LLC, B.F. Ascher & Company, Inc., PendoPharm, Inc., and Douglas Pharmaceuticals Ltd. are among the top market players.
Revenue growth restraints for the intranasal drug delivery devices market include a lack of awareness, high costs associated with the development of intranasal products, and regulatory challenges.
The global intranasal drug delivery devices market is expected to register a revenue CAGR of 8.5% during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain