Pharmaceutical Drug Delivery Market 2022 New Technological Development Projecting Massive Growth till 2032

The Pharmaceutical drug delivery market growth was worth US$1.6 trillion in 2021 and is expected to reach US$3.0 trillion by 2032, at a CAGR of 6% during the forecast period.

Growing incidence of infectious diseases across the world, rising R&D expenditure for innovative drugs, and rising FDA approvals are helping to drive the expansion of this market category..”

The increased prevalence of chronic diseases, the development of the biologics industry, large investments in R&D, technological innovations and new product launches are all contributing to the boom of the pharmaceutical drug delivery industry.

The pharmaceutical drug delivery device has certain advantages including ease of use, efficiency and patient compliance. As a result, drug developers are focusing on appropriate delivery and packaging alternatives to increase treatment efficacy and improve patient compliance.

Pharmaceutical drug delivery market trends and forecasts indicate that companies are investing heavily in research and development to create new compounds for various therapeutic applications and drug delivery platforms. Companies invest a lot of money in R&D to bring innovative, high-quality items to market. R&D spending by biopharmaceutical companies has also increased over time.

For pharmaceutical drug carriers, self-administration and home care are likely to offer considerable growth opportunities. This is primarily due to the growth of the geriatric population, as the elderly are a significant market for home care drug delivery devices. This aspect is also driving the demand for application-specific injectable, inhalation, topical and transdermal drug treatments tailored to the needs of caregivers and patients.

Governments in wealthy and developing countries are advocating for cost-reducing pharmaceutical drug delivery mechanisms, such as lowering prescription reimbursement prices and increasing the use of generics. Government agencies, insurers and patients are pressuring drugmakers around the world to cut costs. Global Pharmaceutical Drug Delivery Market Research indicates that due to downward price pressure, drug acceptance is increasing in emerging markets, where the need for low cost treatments is high.

Several pharmaceutical companies are suffering from it, however. Additionally, this trend is expected to continue over the next few years, driven by continued demand from insurers, pharmacy benefit managers (PBMs), and public and private payers to lower the price of pharmaceutical drug delivery devices for cover more innovative drugs for common conditions like high cholesterol. and diabetes.

The pharmaceutical drug delivery market share is expected to reach US$2.2 trillion by 2026.

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Key points to remember

  • The high share of the North American market can be attributed to the growing prevalence of chronic diseases such as cancer, respiratory allergies, and diabetes, as well as the growing patient adherence to innovative drug delivery technologies and the presence of a large number of major players in the field. Region.
  • Infectious disorders accounted for the largest portion of the pharmaceutical drug delivery industry in 2020.
  • Rising prevalence of infectious diseases around the world, increased R&D spending for new treatments due to the current COVID-19 pandemic scenario, and growing number of FDA approvals for these drugs are all contributing to the share substantial portion of the infectious disorders market segment.
  • Governments in developing countries are investing heavily in modernizing their healthcare infrastructure, which should improve access to healthcare services.

“The increased prevalence of chronic diseases, the development of the biologics industry, and the increase in technological breakthroughs and new product launches are all driving this market forward.— opines an IMF analyst.

Competitive landscape

The number of pharmaceutical drug carriers is growing owing to the increase in spending by major market players in research and development and clinical trials of pharmaceutical drug delivery methods.

Due to multiple major, medium and small players, the global pharmaceutical drug delivery market is highly competitive and fragmented. These companies hold a significant market share in their respective regions. The growth strategies of key players are expected to propel the global market according to the upcoming key trends and opportunities in the pharmaceutical drug delivery market.

  • DARZALEX (daratumumab), a subcutaneous formulation that reduces treatment time for multiple myeloma indications, was approved by the FDA in July 2021.
  • Pfizer, Inc. obtained FDA approval in December 2020 for BRAFTOVI (encorafenib) plus cetuximab for the management of patients with treatment-experienced brafv600e mutant metastatic colorectal cancer (CRC).

Key segments

By administration:

  • Administration of oral medications
  • Administration of injectable drugs
  • Administration of topical medications
  • Ocular administration of drugs
  • Pulmonary administration of drugs
  • Nasal administration of drugs
  • Transmucosal administration of drugs
  • Administration of implantable drugs

Per application:

  • Infectious diseases
  • Cancer
  • Cardiovascular illnesses
  • Diabetes
  • Respiratory diseases
  • Central nervous system disorders
  • Autoimmune diseases
  • Other Apps

For ease of use:

  • Hospitals
  • Ambulatory surgery centers/clinics
  • Home care settings
  • Diagnostic centers
  • Other use facilities

By region:

  • North America
  • Latin America
  • Europe
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)

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Contents

  1. Summary

1.1. Global Market Outlook

1.2. Summary of statistics

1.3. Key Market Features and Attributes

1.4. Fact.MR Analysis and Recommendations

  1. Market overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

  1. Assessment of risks and market trends

3.1. Risk assessment

3.1.1. COVID-19 crisis and impact on demand for pharmaceutical drug delivery

3.1.2. Comparative analysis of the impact of COVID-19 with the previous crisis

3.1.3. Impact on market value (US$ millions)

3.1.4. Assessment by key countries

3.1.5. Assessment by key market segments

3.1.6. Action points and recommendation for suppliers

3.2. Key trends impacting the market

3.3. Formulation and product development trends

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