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The nasal drug delivery technology industry is competitive in nature, with a mix of major global and smaller to medium-sized companies competing for market share. A key aspect of market strategy involves the continual introduction of innovative products leveraging diverse technologies. Notably, prominent industry players command considerable influence in this dynamic landscape, often driving forward advancements through substantial investments in research and development. Additionally, strategic alliances, acquisitions, and mergers are instrumental in fortifying market positions and expanding global footprint amidst evolving regulatory landscapes.
Some of the eminent market participants operating in the nasal drug delivery technology industry include:
Key players in the industry include Aegis Therapeutics, AptarGroup, Boehringer Ingelheim, Eli Lilly and Company, F. Hoffmann-La Roche AG, GlaxoSmithKline, Horizon Therapeutics, Johnson & Johnson, Merck, Nasal Technologies.
The U.S. market was valued at USD 30 billion in 2023 and is expected to expand at a CAGR of 6.9% over the forecast period, propelled by the high prevalence of allergic conditions and asthma.
The non-pressurized containers segment held an 82.2% market share in 2023, as they offer improved ease of use for patients, particularly in self-administration scenarios.
The market size of nasal drug delivery technology reached USD 71.9 billion in 2023 and is set to grow at a 6.8% CAGR from 2024 to 2032, driven by increased demand for non-invasive drug delivery systems.