Pharmaceutical Drug Delivery Market - Technological Advancements & New Product Launches

This study involved four major activities to estimate the current size of the pharmaceutical drug delivery market.

(EMAILWIRE.COM, June 22, 2021 ) Overview of This Study:

This study involved four major activities to estimate the current size of the Pharmaceutical Drug Delivery Techniques Market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Expected Revenue Growth:

The pharmaceutical drug delivery market is projected to reach USD 2,015.3 billion by 2025 from USD 1,430.5 billion in 2020, at a CAGR of 7.1% during the forecast period.

Growth in this market is mainly driven by the rising prevalence of chronic diseases, growth in the biologics market, and technological advancements and new product launches. Due to the outbreak of corona virus globally, there is a sudden rise in the demand for pharmaceutical drugs largely in infectious application.

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The topical drug delivery market is expected to grow at the highest CAGR during the forecast period.

Based on 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 market is expected to grow at the highest CAGR during the forecast period. Growth in this segment can be attributed to the wide range of advantages associated with this route of administration, including convenience and ease of use, right dosage to the right place, painless and noninvasive delivery, superior spreadability, and enhanced patient compliance.

Growing demand for biosimilars to drive the market for conventional injection devices

Based on type, the Pharmaceutical Drug Delivery Techniques Market is segmented into conventional injection devices, self-injection devices, and other devices. The conventional injection devices segment accounted for the largest market share in 2019. The large share of this segment is due to the increasing prevalence of chronic diseases (particularly cancer and diabetes) and CVD, growing demand for biosimilar products, and low cost of devices and manufacturing.

Hospitals were estimated to be the largest facility of use of pharmaceutical drug delivery in 2019

On the basis of facility of use, the pharmaceutical drug delivery market is segmented into hospitals, ambulatory surgical centers (ASCs)/clinics, diagnostic centers, home care settings, and other facilities of use. In 2019, the hospitals segment accounted for the largest share of the pharmaceutical drug delivery market. This can be attributed to the significant number of inpatient and outpatient visits to hospitals and the requirement of large volumes of drugs and their respective delivery devices to cater to the demand of the large patient pool.

In 2019, North America accounted for the largest share of the market

Geographically, North America accounted for the largest share of 39.3% of the market in 2019, followed by Europe. The large share of the North American market is due to factors such as growth in biologics in the pharmaceuticals market; the rising prevalence of chronic diseases such as cancer, respiratory allergies, and diabetes; increasing patient compliance to innovative drug delivery technologies; and the presence of a large number of prominent players in this region.

Key Market Players:

The global Pharmaceutical Drug Delivery Techniques Market is highly fragmented owing to the presence of several large and small players. Johnson & Johnson, Inc. (US), F. Hoffman-La Roche (Switzerland), Merck & Co., Inc. (US), Bayer AG (Germany), Pfizer, Inc. (US), Novartis AG (Switzerland), 3M Company (US), Becton, Dickinson and Company (US), GlaxoSmithKline plc, (UK), Sanofi (France), and Antares Pharma, Inc. (US) are some of the leading players operating in the market.

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