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Pharmaceutical Drug Delivery Market: By Route of Administration (Oral, Injectable, Topical, Ocular, Pulmonary, Nasal, Transmucosal, Implantable), By Application (Infectious Diseases, Cancer, Cardiovascular Diseases, Diabetes, Respiratory Diseases, Central Nervous System Disorders, Autoimmune Diseases), By Facility of Use (Hospitals, Ambulatory Surgery Centers/Clinics, Home Care Settings, Diagnostic Centers), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
Pharmaceutical Drug Delivery System can be defined as a device or a formulation that allows any therapeutic element to carefully reach its area of action without disturbing or affecting the other organs, cells, or tissues. Drug delivery systems are used to provide a therapeutic dose of medication while enhancing effectiveness and safety. They do this by managing the rate, location, and timing of a specific drug's release in the patient’s body. Drug delivery and route of administration are two different concepts. It also includes the engineering of delivery systems and can involve various dose forms and devices to deliver a drug through the same administration route.
Pharmaceutical Drug Delivery Market to surpass USD 2,512.4 billion by 2032 from USD 1,503.83 billion in 2021 at a CAGR of 4.8% in the coming years, i.e., 2022-32. The rising prevalence of chronic diseases and the growing biologics industry are two variables that are primarily responsible for the growth of the Pharmaceutical Drug Delivery Market. Moreover, pharmaceutical and biopharmaceutical firms are concentrating on R&D to create novel compounds for a range of therapeutic uses and drug delivery systems. These factors are projected to drive the market over the forecast period.
Pharmaceutical Drug Delivery Market is categorized on the basis of Route of Administration into Oral, Injectable, Topical, Ocular, Pulmonary, Nasal, Transmucosal, and Implantable. The Topical medication delivery segment is anticipated to increase at the higher CAGR during the projected period. The growth can be attributed to the convenience and ease of use, painless and non-invasive administration, ease of dose, and improved patient compliance.
Pharmaceutical Drug Delivery Market is categorized on the basis of Application into Infectious Diseases, Cancer, Cardiovascular Diseases, Diabetes, Respiratory Diseases, Central Nervous System Disorders, Autoimmune Diseases, and Others. The Infectious Diseases segment held the maximum share in 2020 and is anticipated to maintain its dominance in future as well. The major market share of the said market can be linked to the rising incidence of infectious diseases worldwide, the rising R&D costs for new medications as a result of the COVID-19 pandemic situation, and the increasing number of FDA approvals for these medications.
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The increasing cases of several chronic diseases, including cardiovascular disease, diabetes, and cancer, as well as technological developments in the production and development of novel pharmaceutical drug delivery devices, are major factors driving the global Pharmaceutical Drug Delivery Market. Diabetes is a major contributor to renal failure, strokes, heart attacks, and blindness. As a result, the need for various novel pharmaceuticals for treatment is dramatically increasing due to the fast-rising cases of multiple chronic diseases worldwide, which also increases the demand for pharmaceutical drug delivery systems.
The Pharmaceutical Drug Delivery Market is expanding at a faster rate due to the rapidly expanding biopharmaceutical industry and the development of numerous new and novel treatments in the market. The need for many pharmaceutical drug delivery options is increasing due to the leading pharmaceutical manufacturers' increasing investments in the research and development of novel medications for the treatment of chronic diseases.
The risk of needlestick injuries and frequent guideline and regulation modifications for combination goods are the limitations of the market growth. Government agencies in both developing and developed nations support cost-cutting initiatives like lowering drug reimbursement rates and pushing a greater use of generic medications. Government entities, consumers, and insurers all over the world are putting tremendous pressure on drug makers to cut costs. Drugs are being taken up more frequently due to the downward pricing pressure in emerging markets where there is a considerable need for affordable treatments. However, this is having an impact on the profitability of numerous pharmaceutical businesses.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Pharmaceutical Drug Delivery Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. In 2020, North America held a major share of the global market. This is attributed to the rise in chronic disease prevalence in the US population. Moreover, the market is benefiting from the increased demand for tailored medicines in North America.
Asia Pacific is projected to be the most lucrative market over the forecasted period. This is due to physical inactivity, unhealthy eating habits, and a sedentary lifestyle which are contributing to the increased prevalence of numerous chronic diseases in the population. The demand for pharmaceutical drug delivery is being fueled by the region's growing biotechnology industry and rising biotechnology medicine demand.
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The COVID-19 pandemic had an impact on the global economy, which comprised the pharmaceutical industry. Severe & acute respiratory conditions, pneumonia, multiple organ failure, and, in extreme cases, death were caused by COVID-19. The elderly were more vulnerable to COVID-19. During the epidemic, the worldwide pharmaceutical drug delivery market progressed at a steady pace.
REPORT ATTRIBUTE |
DETAILS |
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Market Size Value in 2021 |
USD 1,503.83 billion |
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Revenue Forecast in 2032 |
USD 2,512.4 billion |
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Growth Rate |
CAGR of 4.8% from 2022 to 2032 |
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Base Year for Estimation |
2021 |
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Quantitative Units |
Revenue in USD billion and CAGR from 2022 to 2032 |
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Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments Covered |
Route of Administration, Application, Facility of Use, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key Companies Profiled |
Johnson & Johnson, Novartis AG, Roche Holding AG, Bayer AG, 3M Company, GlaxoSmithKline Plc, Sanofi, Pfizer Inc., Becton, Dickinson And Company, Merck & Co. Inc., Boehringer Ingelheim, AbbVie Inc., Boston Scientific Corporation, Amgen Inc., IDEAYA Biosciences, and Other Prominent Players. |
The Pharmaceutical Drug Delivery Market size was estimated at USD 1503.83 billion in 2021 and is expected to reach USD 2512.4 billion in 2032.
Pharmaceutical Drug Delivery System can be defined as a device or a formulation that allows any therapeutic element to carefully reach its area of action without disturbing or affecting the other organs, cells, or tissues.
The Topical and Infectious Diseases segments accounted for the larger share of the Pharmaceutical Drug Delivery Market.
Key players in the Pharmaceutical Drug Delivery Market are Johnson & Johnson, Novartis AG, Roche Holding AG, Bayer AG, 3M Company, GlaxoSmithKline Plc, Sanofi, Pfizer Inc., Becton, Dickinson And Company, Merck & Co. Inc., Boehringer Ingelheim, AbbVie Inc., Boston Scientific Corporation, Amgen Inc., IDEAYA Biosciences, and Other Prominent Players.
The Pharmaceutical Drug Delivery Market is majorly driven by factors like the rising prevalence of chronic diseases and the growing biologics industry.
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