The factors that are expected to fuel the growth of the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Various countries have been focusing on developing new ports owing to the increase in vessel count and trade volume. According to the International Chamber of Shipping, 90% of the world’s trade is carried out through seaways as they are ideal for heavy and bulk goods, have large carrying capabilities, and offer competitive freight costs. The global port equipment market size is expected to grow from USD 29.2 billion in 2018 to USD 36.6 million by 2023, at a CAGR of 3.30% during the forecast period. The major driving factors for the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Based on equipment type, the straddle carriers segment is estimated to lead the port equipm
The global nasal drug delivery technology market size is projected to reach USD 64.20 Billion by 2021 from USD 44.00 Billion in 2016, at a CAGR of 6.5% during the forecast period.
The nasal drug delivery technology market is segmented based on dosage form, therapeutic application, end user, system, container, and region. The dosage form segment is further divided into the sprays, drops & liquids, nasal powders, and nasal gels. In 2016, the nasal powders segment is expected to account for the largest share of the market, by dosage form. This growth can be attributed to the wide range of benefits associated with powders.
Browse 95 market data tables and 36 figures spread through 212 pages and in-depth TOC on “Nasal Drug Delivery Technology Market - Global Forecast to 2021”
On the basis of container, the market is segmented into pressurized and non-pressurized containers. In 2016, the non-pressurized containers segment is expected to account for the largest share of the market. This can be primarily attributed to advantages such as better versatility and reliability, instant availability, self-containment, better portability, and low-cost medical aerosol delivery. In addition, the increasing usage of these devices for the treatment of reversible airflow obstruction resulting from asthma and chronic obstructive pulmonary disease (COPD) is expected to further drive the growth of this market in the coming years.
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On the basis of system, the market is segmented into multi-dose systems, bi-dose systems, and unit-dose systems. In 2016, the multi-dose drug delivery systems segment is expected to account for the largest share of the market. This can primarily be attributed to the growing preference for multi-dose drug delivery as these systems provide quick and effective delivery of drugs into the bloodstream.
On the basis of therapeutic application, the market is segmented into allergic and non-allergic rhinitis, nasal congestion, vaccination, and other therapeutic applications (osteoporosis, pain management, and sexual dysfunction). The allergic and non-allergic rhinitis segment is expected to register the highest CAGR during the forecast period. The high growth in this segment can primarily be attributed to the increasing prevalence of allergic and non-allergic rhinitis and growing preference for nasal drugs for its treatment.
On the basis of end user, the market is segmented into hospitals and home care settings. In 2016, the home care settings segment is expected to be the fastest growing segment of the market, primarily due to the increasing preference for self-administration among patients.
Currently, North America dominates the nasal drug delivery market and Europe represents the second-largest regional segment. The nasal drug delivery market in the Asian region is the fastest growing due to presence of significant growth opportunities for the market as well as the players involved in nasal drug delivery.
The key growth strategies adopted by the top companies include product launches & approvals, collaborations, and expansions. Prominent players in the nasal drug delivery technology market include Merck & Co., Inc. (U.S.), Novartis AG (Switzerland), Johnson & Johnson Services, Inc. (U.S.), Pfizer, Inc. (U.S.), AstraZeneca plc. (U.S.), AptarGroup (U.S.), and GlaxoSmithKline plc (U.K.).
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sales@marketsandmarkets.com
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