Nasal Drug Delivery Technology Market Trends, Opportunities, and Growth Insights
The global nasal drug delivery technology market was valued at USD 127.12 billion in 2022, expanding at a CAGR of 7.45% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing awareness regarding nasal products is one of the major factors driving the market. The growing geriatric population is expected to positively drive the overall market. In 2020, there were 727 million people worldwide who are 65 years of age or older, according to a report by the United Nations Department of Economic and Social Affairs. The number of elderly people worldwide is expected to depict more than double growth during the next three decades, reaching over 1.5 billion in 2050. Between 2020 and 2050, the geriatric population is expected to grow in size across the nation. Globally, it is anticipated that the percentage of people 65 and older will rise from 9.3% in 2020 to almost 16.0% in 2050. Moreover, increasing patient preference ...