According to Fortune Business Insights, the global nasal drug delivery market size stood at USD 42.39 billion in 2018 and is projected to reach USD 120.83 billion by 2032, exhibiting a CAGR of 7.9% during the forecast period. Europe dominated the global market with a share of 49.82% in 2018. Nasal drug delivery has become a widely researched area as companies continue developing small, portable, and user-friendly devices using advanced technologies. The nasal route is considered appropriate for drug delivery because it can provide a faster onset of action for the treatment of related diseases.
The market is witnessing technological developments focused on improving drug administration, patient convenience, and treatment adherence. Companies are exploring new biotherapeutics, including polypeptides, peptides, and antisense DNA, which are otherwise administered through injections. The development of innovative delivery systems and increasing interest in advanced inhalation technologies are expected to support market growth over the forecast period.
The nasal drug delivery market includes dry powder inhalers (DPIs), metered dose inhalers (MDIs), and nebulizers. These technologies are used across applications such as asthma and chronic obstructive pulmonary disease (COPD), while distribution takes place through hospital pharmacies, retail pharmacies, and online pharmacies. The market report provides qualitative and quantitative insights into market size, growth rates, market dynamics, emerging trends, technological advancements, product launches, and competitive developments.
Based on type, dry powder inhalers hold a leading position. Their advantages include product stability, the ability to deliver low or high doses according to requirements, and lower susceptibility to microorganisms. Metered dose inhalers hold the second position, although their use can be challenging because correct administration requires multiple steps. Nebulizers represent a comparatively smaller share because of their major use among hospitalized patients rather than home healthcare settings.
The increasing prevalence of asthma and COPD is a major factor supporting market growth. Fortune Business Insights notes that around 300 million people globally suffer from asthma, increasing the patient population requiring effective medication delivery. The rising number of hospital admissions associated with COPD is also contributing to demand for inhalers, particularly DPIs and MDIs.
Another growth factor is the introduction of off-patent drugs for respiratory care. Patent expirations of branded inhaled medications and pressure on healthcare budgets are encouraging the development of generic inhaled medicines. Lower treatment costs can increase awareness and adoption of DPIs and MDIs. Patient awareness regarding the benefits of inhalation devices is also expected to support demand.
However, limited patient awareness regarding correct dose administration remains a restraint. Improper use of drug delivery equipment, insufficient training, and difficulties experienced by older adults can result in incorrect usage and under-dosing. These challenges may reduce the adoption of drug delivery devices and negatively affect market growth.