The global Pharmaceutical Drug Delivery Market is valued at USD 1,764.1 Billion in 2022 and is projected to reach a value of USD 2687.7 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 6.20% between 2023 and 2030.
The method or process of administering a pharmaceutical compound to humans or animals to accomplish a therapeutic effect is known as a drug delivery system. The nasal and pulmonary routes of drug delivery are important in treating human diseases. Especially for peptide and protein therapeutics, these routes offer promising alternatives to parenteral drug delivery. Numerous opportunities for market expansion are presented by the substantial investments made by governments in various nations to develop healthcare infrastructure. Governments are investing in modernizing the infrastructure of healthcare delivery. This is anticipated to stimulate market expansion. All of these factors drive the demand for Pharmaceutical Drug Delivery. Innovations in drug delivery and the presence of numerous market participants stimulate market expansion. In addition, the substantial growth of the pharmaceutical and biotechnology industries drives market expansion. Government initiatives aimed at enhancing health care present lucrative opportunities for market expansion.
The global Pharmaceutical Drug Delivery market is primarily driven by the increasing prevalence of chronic diseases such as diabetes, cardiovascular disease, and cancer, as well as technological advances in the manufacturing and development of innovative Pharmaceutical Drug Delivery devices. According to the International Agency for Research on Cancer, there will be approximately 19.3 million new cancer cases and 10 million cancer-related fatalities worldwide in 2020. It is estimated that approximately 28.4 million new cases of cancer will be diagnosed worldwide in 2040. According to the World Health Organization, cardiovascular disease is the primary cause of death worldwide, accounting for approximately 17.9 million or 32 percent of all deaths. The International Diabetes Federation estimates that the global diabetic population will reach 783 million by 2045. Diabetes is a leading cause of renal failure, heart disease, blindness, and stroke. Consequently, the rapidly increasing prevalence of various chronic diseases worldwide significantly impacts the demand for various innovative pharmaceuticals for treatment, increasing the demand for Pharmaceutical Drug Delivery solutions.
Pharmaceutical Drug Delivery Market Size, 2022 To 2030 (USD Billion)
The rapidly expanding biopharmaceutical industry and the development of numerous new and innovative drugs are significantly fueling the expansion of the Pharmaceutical Drug Delivery market. The increasing investments of the world's leading pharmaceutical companies in researching and developing new drugs for treating incurable diseases are increasing the global demand for diverse Pharmaceutical Drug Delivery solutions. In addition, several leading market participants in the Pharmaceutical Drug Delivery market and their adoption of key growth strategies, such as new product launches, mergers, acquisitions, and partnerships, drive the market expansion significantly. Therefore, the increasing global penetration of drug and gene-delivery device manufacturers is driving market expansion.
The current conflict between Russia and Ukraine is projected to worsen over the analysis horizon, which will harm economic growth and development. Russia's invasion of Ukraine has created large and monumental shocks, which are expected to slow the growth rate of the global economy. The United Kingdom-based firm World Economic League Table predicts that by 2022, the world economy will be worth $100 trillion. Despite officials' best efforts to resolve their differences over rising prices, this economic trend is expected to stall by 2023.
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Top Market Trends
- Rising Concerns Regarding Global Health: A rise in healthcare concerns and awareness, an increase in the geriatric population, and government support for research in Pharmaceutical Drug Delivery are likely to increase demand. Consequently, the global Pharmaceutical Drug Delivery market is anticipated to expand rapidly in the coming years. Increased prevalence of chronic diseases such as diabetes, cancer, osteoarthritis, and osteoporosis will boost the global Pharmaceutical Drug Delivery market over the forecast period. In addition, the global market is anticipated to be driven by increased demand from hospitals and clinics serving patients of all ages. In addition, user-friendliness and enhanced assimilation will likely increase the demand for drug-delivery devices. Consequently, the global Pharmaceutical Drug Delivery market is anticipated to experience substantial development in the coming years.
- Rising Collaboration Between Prominent Players: Significant market participants are investing more in the research and development of Pharmaceutical Drug Delivery systems, propelling market expansion. In addition, Evonik expanded its expertise in this industry by acquiring complementary technologies, such as the RESOMER platform from Boehringer Ingelheim. Likewise, WuXi Biologics and Shanghai Hile Bio-Technology Co., Ltd. established WuXi Vaccines in 2019 as a joint venture. Under the terms of the strategic alliance, WuXi Vaccines would establish a specialized facility and introduce a commercial product to the global marketplace. A novel class of cancer, diabetes, and other disease treatments has been introduced to the Pharmaceutical Drug Delivery system. In addition, Evonik expanded its expertise in this industry by acquiring complementary technologies, such as the RESOMER platform from Boehringer Ingelheim. Likewise, WuXi Biologics and Shanghai Hile Bio-Technology Co., Ltd. established WuXi Vaccines in 2019 as a joint venture. Under the terms of the strategic alliance, WuXi Vaccines would establish a specialized facility and introduce a commercial product to the global marketplace. A novel class of cancer, diabetes, and other disease treatments has been introduced to the Pharmaceutical Drug Delivery system.
- Expanding Biologics Market: Several companies, such as Evonik (Germany), have made strategic developments in response to the manufacturing potential of biologics. For example, the company expanded its production capacity in 2022 by acquiring SurModics, which specializes in controlled-release parenteral applications. In addition, Evonik acquired complementary technologies, such as the RESOMER platform from Boehringer Ingelheim, to strengthen its position in this market. WuXi Biologics also announced 2019 the launch of WuXi Vaccines, a joint venture with Shanghai Hile Bio-Technology Co., Ltd. Under the terms of the strategic partnership, WuXi Vaccines will construct a dedicated facility and provide a commercial product for the global market. The biopharmaceutical industry has witnessed the emergence of a new class of therapeutics with substantial potential for novel cancer, diabetes, and other disease treatments.
The global Pharmaceutical Drug Delivery market can be categorized on the following: Route of Administration, Application, Facility of Usage, and Regions. Based on the Route of Administration, the market can be categorized into Oral Drug Delivery, Injectable Drug Delivery, Topical Drug Delivery, Ocular Drug Delivery, Pulmonary Drug Delivery, Implantable Drug Delivery, Transmucosal Drug Delivery, and Nasal Drug Delivery. Additionally, by Application, the market can be segmented across Infectious Diseases, Cancer, Cardiovascular Diseases, Diabetes, Respiratory Diseases, Central Nervous System Disorders, Autoimmune Diseases, and Other Applications. Furthermore, by Facility of Usage, the market can be split between Hospitals, Ambulatory Surgery Centers, Home care Settings, Diagnostic Centers, and Other Facilities of Use. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Based on the Route of Administration
Oral Administration is Considered the Dominant Share owing to the Inexpensive & Efficient Method
Oral administration is considered the most practical and prevalent method of drug administration worldwide. It is inexpensive, painless, non-invasive, self-administered, and requires no sterile precautions. In addition, introducing various innovative medicines that can effectively treat non-communicable diseases with minimal or no side effects is a major driver of the growth of this segment. In addition, the growing popularity of various biopharmaceutical medications in tablet and capsule form is anticipated to positively affect the expansion of the oral route of administration segment. On the other hand, topical is anticipated to be the segment with the quickest growth during the forecast period. Advantages associated with this topical route of administration include non-invasiveness, simplicity of use, convenience, and painless delivery, which may increase its adoption in the coming years and drive market expansion. Incorporating a time-controlled system into the topical route of administration is yet another factor that has the potential to attract consumers' attention.
Based on Application
Cancer Applications to Widen their Push for Maximum Revenue due to Rising Prevalence of Cancer-Related Disorders
In 2022, the cancer application segment dominated the global market for Pharmaceutical Drug Delivery devices. This is due to the increasing incidence of cancer in the population. According to the International Agency for Research on Cancer, there will be approximately 19.3 million new cancer cases and 10 million cancer-related fatalities worldwide in 2020. From 2020 to 2040, cancer cases are projected to increase by 47% worldwide. It is anticipated that 28.4 million cases will be reported worldwide in 2040. Breast, lung, colon, and uterine cancer are the most prevalent forms of cancer affecting the human population. On the other hand, cardiovascular is anticipated to be the segment with the quickest growth during the forecast period. This results from the pharmaceutical industry's increasing concentration on developing drugs to treat cardiovascular diseases. In addition, the growing incidence of cardiovascular diseases due to unhealthy food practices, rising obesity, and rising alcohol consumption and physical inactivity fuel the rise of deaths attributed to cardiovascular diseases. According to the World Health Organization, 32% of global fatalities in 2019 were caused by CVDs.
Based on Facility of Usage
Hospitals to Account for Largest Market Share owing to Larger Flow of Patients
In 2022, the hospitals' segment accounted for the largest revenue share. This is due to the increased prevalence of private and public hospitals worldwide. Increasing government and corporate investments in developing advanced hospitals have propelled the growth of this market segment. In addition, the increasing number of hospital admissions due to the rising prevalence of diseases is driving the global expansion of this market segment. During the forecast period, the home care setting segment is anticipated to be the most lucrative market segment. The growing geriatric population, rising disposable income, increasing awareness of hospital-acquired infections, and rising healthcare expenditures are expected to be the primary factors driving the growth of the home healthcare segment.
Based on Region
North America to Dominate Global Sales owing to a Strong Target Population Pool
North America dominated the global market by region in 2022. This is due to the increased prevalence of chronic diseases in the United States. According to a study, approximately sixty percent of the U.S. population is afflicted by at least one chronic disease, with the majority suffering from multiple conditions. In addition, developing numerous innovative medications in the biopharmaceutical industry that can treat various noncommunicable diseases exponentially increases the demand for Pharmaceutical Drug Delivery solutions in North America. In addition, the increasing demand for personalized pharmaceuticals in North America positively affects the market.
Asia-Pacific is anticipated to be the most lucrative market over the forecast period. Due to factors such as physical inactivity, a sedentary lifestyle, and unhealthy dietary practices, the prevalence of chronic diseases among the population is increasing. Biotechnology's rapid expansion and the region's increasing demand for biotechnology medicines drive the demand for Pharmaceutical Drug Delivery. According to the World Health Organization, most chronic disease-related fatalities occur in low- and middle-income countries. Consequently, the increasing accessibility to healthcare facilities is a major factor propelling market expansion in this region.
Multiple companies employ a vast array of technologies to ensure controlled release. Major drug manufacturers are instituting controlled release to increase consumer population and product penetration. Thus, the market comprises numerous competitors who face intense competition from existing competitors and new entrants. In addition, major players are engaging in mergers and acquisitions to expand their existing product lines. The market is highly fragmented because numerous manufacturers are engaged in creating pharmaceuticals that suit specific patient needs. Additionally, major firms are developing novel controlled-release drug transport technologies.
The key players in the global Pharmaceutical Drug Delivery market include - Bayer AG, Becton, Dickinson And Company, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, Johnson & Johnson, Merck & Co., Inc., Novartis AG, 3M Company, Pfizer Inc., Sanofi among others.
Recent Market Developments:
- June 2022: Dual Chamber Bags, a revolutionary medication delivery technology, was introduced for the first time in India by Gufic Biosciences Ltd.
- February 2022: The Food and Drug Administration (FDA) of the United States approved TAKHZYRO (lanadelumab-flyo) injection as a single-dose prefilled syringe (PFS) for the prevention of hereditary angioedema (HAE) attacks in patients 12 years of age or older.
- June 2021: Johnson & Johnson was granted FDA approval for DARZALEX (daratumumab), a subcutaneous formulation that shortens the duration of multiple myeloma treatment.
Segmentation of the Global Pharmaceutical Drug Delivery Market
- Route of Administration (Oral Drug Delivery, Injectable Drug Delivery, Topical Drug Delivery, Ocular Drug Delivery, Pulmonary Drug Delivery, Implantable Drug Delivery, Transmucosal Drug Delivery, Nasal Drug Delivery)
- Application (Infectious Diseases, Cancer, Cardiovascular Diseases, Diabetes, Respiratory Diseases, Central Nervous System Disorders, Autoimmune Diseases, Other Application)
- Facility of Use (Hospitals, Ambulatory Surgery Centers, Home care Settings, Diagnostic Centers, Other Facilities of Use)
- Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- Bayer AG
- Dickinson And Company
- F. Hoffmann-La Roche AG
- GlaxoSmithKline Plc
- Johnson & Johnson
- Merck & Co. Inc.
- Novartis AG
- 3M Company
- Pfizer Inc.
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analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
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