The nasal drug delivery market will show a rapid growth owing to the increasing patient preference for nasal drug delivery as a result of easy administration and better efficacy, growing adoption of self-administration practices and the rise in demand for home healthcare devices.
The nasal drug delivery is found to be one of the most preferred drug delivery routes among patients as well as healthcare providers and this can be majorly attributed to the non-invasive nature of the drug delivery and higher drug absorbability through the nasal route. In addition, the nasal route provides a less hostile environment as compared to the other routes and this allows better absorption of drugs.
Moreover, nasal drug delivery does not require any sterile method for administering drugs into the body. Therefore the easy administration of these drugs plays a crucial role in improving the compliance to drug therapies among patients, which in turn drives the patient outcomes. Moreover, the rising patient preference for nasal products owing to increased awareness along with their efficacy and easy administration properties is anticipated to fuel the market growth.
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Key Market Trends
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.
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