Global Inhaled and Intranasal Products Contract Service Providers Market 2023: Sector to Reach $4.5 Billion by 2030 at a 8.5% CAGR - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Inhaled And Intranasal Products Contract Service Providers Market Size, Share & Trends Analysis Report By Drug Delivery Product (Metered-dose inhalers, Dry powder inhalers, Nebulizers), By Services, By Region And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global inhaled and intranasal products contract service providers market size is estimated to reach USD 4.5 billion by 2030., expanding at a CAGR of 8.5% from 2023 to 2030.
- Kindeva Drug Delivery (Formerly 3M Drug Delivery Systems)
- Quotient Services
- Beximo Pharmaceuticals
- Dpt Laboratories
There is an increased awareness of the effective and advanced respiratory devices compared to the traditional treatments fueling the growth of the market.
Inhaler design has seen little change in the past ten years, but some features have led to advancements that open new possibilities for disease treatment according to an article published by the National Library of Medicine (NIH) in 2021. The development of vibrating mesh systems for nebulizers was the most significant advancement, whereas the formulation, metering system, and aerosol dispersion properties are the three main components of dry powder inhaler technology.
Furthermore, one of the most important breakthroughs at the start of the new millennium was the regulatory approval and commercialization of Advair/Seretide (GlaxoSmithKline). These developments and advancements in the design of the product improve the drug delivery system. Hence, contributing to the growth of the inhaled & intranasal products contract service providers market.
COVID-19 has resulted in a positive impact on the market. For instance, according to a July 2020 article titled "Inhalers Safe During COVID-19 Pandemic," asthma and chronic obstructive pulmonary disease patients are usually prescribed inhaled and oral corticosteroids along with inhalers to avoid attacks. Inhaler shortages occurred in the U.K. as a result of a 400% increase in demand during the pandemic.
The U.K.'s population was attempting to stock up in anticipation of the COVID-19 pandemic, according to the Department of Health and Social Care, which resulted in distressing shortages. As a result, during the pandemic phase, such incidences increased the demand for the market.
Inhaled And Intranasal Products Contract Service Providers Market Report Highlights
- Metered- dose inhalers (MDIs) segment dominated the market with a revenue share of 50.6% in 2022. This is due to the rise in their ease of use, which is often self-administered by the patient through inhalation in short bursts of a predetermined dose
- Based on services, contract manufacturing dominated the segment with a revenue share of 54.8% in 2022. The increasing focus of manufacturers on reducing the cost of medical devices drives the growth of the market
- Quality assurance services is anticipated to register the fastest CAGR growth of 10.8% during the forecast period
- Asia Pacific dominated the market in 2022 with a 41.7% market share. The presence of a large number of contract manufacturers, and increasing respiratory diseases such as COPD are the key factors driving the growth of the market
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Inhaled and Intranasal Products Contract Service Providers Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
126.96.36.199. Rising prevalence of chronic diseases such as COPD, increasing prevalence of diabetes
188.8.131.52. Rise in geriatric population
184.108.40.206. Increase in technological advancement w.r.t to product offerings
3.2.2. Market restraint analysis
220.127.116.11. Stringent Government Regulations for the Product Approval
3.2.3. Covid-19 Impact & Recovery Analysis
3.2.4. Heat Map Analysis
3.2.5. Major Deals and Strategic Alliances Analysis
3.2.6. Industry Analysis - Porter's
3.2.7. PESTLE Analysis
Chapter 4. Inhaled and Intranasal Products Contract Service Providers Market: Drug Delivery Product Segment Analysis
Chapter 5. Inhaled and Intranasal Products Contract Service Providers Market: Services Segment Analysis
Chapter 6. Inhaled and Intranasal Products Contract Service Providers Market: Regional Analysis
Chapter 7. Competitive Landscape
7.1. Inhaled and Intranasal Products Contract Service Providers: Company market share analysis, 2022 & 2030
7.2. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/p00w6b
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