Nasal Drug Delivery Devices Market Share, Size, Gross Margin, Trend, Future
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The global nasal drug delivery devices market size is prognosticated to reach USD 81.85 billion by 2026 attributable to the increasing number of the patient population and the rising prevalence of pulmonary disorders worldwide. This information is provided in a recently published report by Fortune Business Insights™ titled, “Nasal Drug Delivery Devices Market Size, Share and Global Trend By Type (Dry Powder Inhalers (DPIs), Metered Dose Inhalers (MDIs), and Nebulizers), By Application (Asthma, Chronic Obstructive Pulmonary Disease (COPD), and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) and Geography Forecast till 2026.” As per the report’s description, the market size was USD 46.34 billion in 2018 and is likely to exhibit a CAGR of 7.5% between 2019 to 2026.
What are the Key Objectives of this Report?
The report provides a comprehensive overview of the market for nasal drug delivery systems and its various growth parameters. These include factors driving, challenging, and providing opportunities to the market. Besides this, the report discusses the competitive landscape and lists the names of players operating in the market and the major strategies adopted by them. Adoption of different strategies will help key players to strive for the leading position in the market. It also discusses the key segments in the market based on factors such as type, application, end user, distribution channel, and others. Additionally, the report provides insights into the market, major industry developments, and current nasal drug delivery devices market trends. It is available for sale on the company website.
Rising Awareness About Nasal Spray and its Benefits will Help Market Gain Impetus
The increasing prevalence of respiratory disorders among people is a major factor boosting the nasal drug delivery devices market growth. Additionally, the increasing prevalence of asthma and chronic obstructive pulmonary disease (COPD) cases is also aiding to the expansion of the market for pulmonary drug delivery devices. Besides this, analyst at Fortune Business Insights™ says, “The increasing patient population and the rising demand for inhalers are encouraging companies to set up new manufacturing units. This is further expected to drive the overall market in the forecast period.”
On the flipside, lack of awareness about inhalers along with their usage, especially amongst the older population may cause hindrance to the overall market. Nevertheless, the rising awareness about the benefits of DPIs and MDIs is expected to help increase their popularity in the market. This, as a result, will give significant impetus to the market in the long run.