Pharmaceutical Drug Delivery Market

Pharmaceutical Drug Delivery Market Size, Share & Trends by Route of Administration (Oral, Injectors, Implantable, Syrups, Gels, Pulmonary, Solutions, Tablets, Syringes), Application (Cancer, Diabetes), Facility of Use (Hospitals) & Region - Global Forecast to 2026

Report Code: MD 3871 Nov, 2021, by marketsandmarkets.com

Pharmaceutical Drug Delivery Market Size, Share & Trends

The size of global pharmaceutical drug delivery market in terms of revenue was estimated to be worth $1,656.9 billion in 2021 and is poised to reach $2,206.5 billion by 2026, growing at a CAGR of 5.9% from 2021 to 2026. The comprehensive research encompasses an exhaustive examination of industry trends, meticulous pricing analysis, patent scrutiny, insights derived from conferences and webinars, identification of key stakeholders, and a nuanced understanding of market purchasing dynamics.

Growth in the pharmaceutical drug delivery industry can largely be attributed to factors such as the rising prevalence of chronic diseases, the growing biologics market, increasing R&D investments, technological advancements, and new product launches. Moreover, pharmaceutical and biopharmaceutical companies are focusing on R&D to develop new molecules for various therapeutic applications and drug delivery platforms. The companies invest heavily in R&D with the aim of delivering 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 are expected to limit the market's growth to some extent in the coming years.

Pharmaceutical Drug Delivery Market Trends

Pharmaceutical Drug Delivery Market

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Pharmaceutical Drug Delivery Market Dynamics

Driver: Growth in biologics market

Recognizing the potential for biologics manufacturing, companies, such as Evonik (Germany), have made several strategic developments. For instance, the company increased its production capacity by acquiring SurModics in 2021, which focuses on controlled-release parenteral applications. In addition, Evonik acquired complementary technologies, such as Boehringer Ingelheim’s RESOMER platform, to improve its capability in this market. Similarly, in 2019, WuXi Biologics announced the launch of WuXi Vaccines, a joint venture with Shanghai Hile Bio-Technology Co., Ltd. The companies entered into a strategic partnership under which WuXi Vaccines will build a dedicated facility and supply a commercial product for the global market. The biopharmaceutical industry has witnessed the emergence of a new class of therapeutics, showing significant potential for new treatments in oncology, diabetes, and other disease areas.

Restraint: Risk of needlestick injuries

Needlestick injuries are one of the most serious health and safety threats:

Opportunity: Self-administration and home care

Self-administration and home care are expected to provide significant growth opportunities for players operating in the pharmaceutical drug delivery industry. This is mainly due to the rising geriatric population, as elderly individuals form a large consumer base for drug delivery devices for home care. This factor is also increasing the need for application-specific injection, inhalation, topical, and transdermal drug products that are designed to cater to the needs of caregivers and patients.

Challenge: Pricing pressure

Government bodies in both developed and developing countries are encouraging cost-saving measures, such as cutting drug reimbursement prices and promoting the greater use of generics. Drug manufacturers across the globe are facing significant cost reduction pressures from government bodies, insurers, and patients. This downward pricing pressure is resulting in a greater uptake of drugs in emerging markets, where the demand for low-cost therapeutics is high. However, this is affecting the profitability of several pharmaceutical companies. This trend is expected to continue in the coming years due to ongoing pressure from insurers, pharmacy benefit managers (PBMs), and public and private payers to reduce pharmaceutical prices due to concerns about covering more new medicines to treat common conditions such as high cholesterol and diabetes.

The topical drug delivery segment of pharmaceutical drug delivery industry is expected to grow at the highest CAGR during the forecast period

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. The topical drug delivery segment is expected to grow at the highest CAGR during the forecast period from 2021 to 2026. This can be attributed to convenience and ease of use, the ease of dosage, painless and non-invasive administration, and enhanced patient compliance.

The infectious disease segment accounted for the largest share of the pharmaceutical drug delivery industry

On the basis of 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. In 2020, the infectious diseases segment accounted for the largest share of the global market. The large share of this market segment can be attributed to the increasing prevalence of infectious diseases across the globe, increasing R&D expenditure for new drugs owing to the current COVID-19 pandemic scenario, and the rising number of FDA approvals for such drugs.

The home care settings segment of pharmaceutical drug delivery industry is expected to grow at the highest CAGR during the forecast period

Based on the facility of use, the pharmaceutical drug delivery market is segmented into hospitals, ambulatory surgery centers (ASCs) or clinics, home care settings, diagnostic centers, and other facilities of use. The home care settings segment is projected to grow at the highest CAGR during the forecast period. Growth in this segment can be attributed to the increasing use of drug delivery devices, such as injectables, nebulizers, and inhalers, in home care settings. Topical drug delivery systems are also increasingly gaining prominence, not just as an alternative route of drug delivery but also as point-of-care devices in in-home care settings.

North America will dominate the pharmaceutical drug delivery industry from 2021–2026

Geographically, the global pharmaceutical drug delivery market is segmented into North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa. North America accounted for the largest share of this market in 2020. The high share of the North American market is attributed to the rising prevalence of chronic diseases, such as cancer, respiratory allergies, and diabetes; increasing patient compliance with innovative drug delivery technologies; and the presence of a large number of prominent players in this region.

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The prominent players in Pharmaceutical Drug Delivery Market are 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).

Scope of the Pharmaceutical Drug Delivery Industry

Report Metric

Details

Market Revenue Size in 2021

Projected Revenue Size by 2026

Industry Growth Rate

Poised to grow at a CAGR of 5.9%

Growth in the biologics market

Self-administration and home care

The study categorizes the pharmaceutical drug delivery market to forecast revenue and analyze trends in each of the following submarkets:

By Route of Administration
By Application
By Facility of Use
By Region