Pharmaceutical Drug Delivery Market worth $2,206.5 billion by 2026
The report "Pharmaceutical Drug Delivery Market Size, Growth by Route of Administration (Oral, Injectors, Implantable, Syrups, Gels, Pulmonary, Solutions, Tablets, Syringes), Application (Cancer, Diabetes), Facility of Use (Hospitals) - Global Forecast to 2026", is projected to reach USD 2,206.5 billion by 2026, at a CAGR of 5.9%.
Browse 638 market data Tables and 52 Figures spread through 555 Pages and in-depth TOC on "Pharmaceutical Drug Delivery Market - Global Forecast to 2026"
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Drug delivery is the method or process of administration of a pharmaceutical drug to safely attain its desired therapeutic effect. Advancements in drug delivery technologies offer several benefits, such as ease of use, convenience, and patient compliance. Drug developers are focusing on suitable delivery and packaging options for increasing the efficiency of drugs and proposing improved patient compliance. Pharmaceutical and biopharmaceutical companies are focusing on R&D to develop new molecules for various therapeutic applications and drug delivery platforms. The companies invest majorly in R&Ds with an aim to deliver high-quality and innovative products to the market. R&D spending by biopharmaceutical companies has also increased over the years.
On the other hand, the risk of needlestick injuries and the increased pricing pressure is expected to limit the market growth to some extent in the coming years.
The oral drug delivery segment dominated the pharmaceutical drug delivery market.
The market is segmented based on route of administration, application, and facility of use. Based on the route of administration, the pharmaceutical drug delivery market is segmented into oral, pulmonary, injectable, ocular, nasal, topical, implantable, and transmucosal drug delivery. In 2020, the oral drug delivery segment accounted for the largest share of the pharmaceutical drug delivery market. The large share of this market segment can be attributed to the convenience of drug administration via the oral route, patient preference, cost-effectiveness, and ease of large-scale manufacturing of oral dosage forms.
The infectious diseases segment is expected to account for the largest share of the pharmaceutical drug delivery market
Based on application, the pharmaceutical drug delivery market is segmented into cancer, infectious diseases, cardiovascular diseases, diabetes, respiratory diseases, central nervous system disorders, autoimmune diseases, and other applications. The infectious diseases segment accounted for the largest share of the pharmaceutical drug delivery market. The large share of this market segment can be attributed to the increasing prevalence of infectious diseases across the globe, and the rising number of FDA approvals for such drugs.
The hospitals segment accounted for the largest share of the pharmaceutical drug delivery market
Based on facility of use, the pharmaceutical drug delivery market is segmented into hospitals, ambulatory surgery centers (ASCs)/clinics, home care settings, diagnostic centers, and other facilities of use. The hospital segment accounted for the largest share of the pharmaceutical drug delivery market in 2020. This can be attributed to the significant number of inpatient and outpatient visits and the growing requirement of large volumes of drugs and their respective delivery devices to cater to the demand from the large patient pool. The rising incidence of chronic diseases coupled with the rising number of an aging population and the increasing number of hospitalizations and surgical procedures being undertaken across the globe support the market growth of this segment.
Asia Pacific is expected to account for the highest CAGR for players operating in the pharmaceutical drug delivery market
During the forecast period, the Asia Pacific is expected to be the fastest-growing regional market for pharmaceutical drug delivery. The rapid rise in the geriatric population, increased prevalence of chronic diseases, increased healthcare expenditure, increased R&D activities conducted in this region, growth in technological collaborations for pharmaceutical drug delivery technologies, favorable reimbursement policies, and growth in disposable incomes in the emerging Asian economies, such as China and India, are factors that are expected to drive the growth of the APAC market during the forecast period.
Major players in this market include Johnson & Johnson (US), Novartis International AG (Switzerland), F. Hoffmann-La Roche AG (Switzerland), Pfizer Inc. (US), Bayer AG (Germany), Antares Pharma, Inc. (US), Becton, Dickinson and Company (US), GlaxoSmithKline plc (UK), 3M (US), Merck & Co., Inc. (US), Sanofi (France), Amgen, Inc. (US), AbbVie Inc. (US), Genmab A/S (Denmark), Gilead Sciences, Inc. (US), Boehringer Ingelheim (Germany), AstraZeneca plc. (UK), Eli Lilly and Company (US), Teva Pharmaceuticals Industries Ltd. (Israel), Bristol-Myers Squibb (US), Gerresheimer AG (Germany), Boston Scientific Corporation (US), Nimbus Therapeutics (US), Kite Pharma (US), and IDEAYA Biosciences, Inc. (US).
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