Pharmaceutical Drug Delivery Market Size & Share to Surpass $2687.7 Billion by 2030 | Vantage Market Research
WASHINGTON, May 29, 2023 (GLOBE NEWSWIRE) -- The Global Pharmaceutical Drug Delivery Market is valued at USD 1764.1 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% over the forecast period 2023-2030.*Market Overview *
The increased incidence of long-term conditions like diabetes, cardiovascular problems, and cancer, together with technological improvements in the manufacturing and development of novel pharmaceutical drug delivery devices, is driving the global pharmaceutical drug delivery market. The constant frequency of numerous degenerative illnesses worldwide is dramatically increasing the demand for various novel pharmaceuticals for treatment, increasing the need for pharmaceutical drug delivery technologies.
We forecast that sales of oral drug delivery in the pharmaceutical drug delivery market will account for 47% of total sales by 2030. Oral drug administration is often regarded as the most accessible and prevalent mode of administration worldwide. It is a non-invasive, inexpensive, painless, and self-administered method of administration that does not require any sterile precautions. Furthermore, the launch of breakthrough pharmaceuticals that can give efficient therapy for various non - communicable diseases with little or no adverse effects is boosting the growth of this market tremendously.
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*Market Dynamics*
*Increasing Burden of Chronic Diseases Support Market Expansion*
Asthma, cancer, diabetes, and other diseases have been the leading causes of death worldwide. Elements such as the rising incidences of chronic diseases such as diabetes, COPD, and asthma and innovative chronic disease treatments are expected to drive the market throughout the forecast period. Because such a large part of the senior population is susceptible to chronic ailments, such systems are expected to gain popularity. Furthermore, the increased launch of new goods and digitization in the healthcare industry have allowed the firms to flourish.
*Increased Patient Shift Towards Advanced Drug Delivery Systems drives market growth.*
Pharmaceutical Drug Delivery, or vitamin C, is widely consumed by the food and beverage sector. Various food and beverage products use Pharmaceutical Drug Delivery as a preservative, antioxidant, and flavour enhancer. The pharmaceutical drug delivery industry in the food and beverage sector is developing because of increasing customer interest in packaged and convenience foods and increased consumer awareness of vitamin C's health benefits. The increased demand for food products, such as enhanced and protein products, is expected to drive market growth.
*Top Players in the Global Pharmaceutical Drug Delivery Market *
· Bayer AG (Germany)
· Becton (Franklin Lakes)
· F. Hoffmann-La Roche AG (Basel)
· GlaxoSmithKline Plc (U.K)
· Johnson & Johnson (America)
· Merck & Co., Inc. (U.S)
· Novartis AG (Switzerland)
· 3M Company (Minnesota)
· Pfizer Inc. (New York)
· Sanofi (Paris)
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*Top Trends in the Global Pharmaceutical Drug Delivery Market *
· One trend that Vantage Market Research (VMR) expects to see in the pharmaceutical drug delivery industry is the growing demand for Biosimilars and biologics. Biosimilars are more appropriate for non-life-risking chronic illnesses. Additionally, biosimilars can propel the therapeutics business by enabling patients to acquire drugs at cheaper costs. The lower production cost due to the use of current production methods for the generation of biosimilars is a crucial factor that is expected to drive the expansion of this market in the coming years. Also, an increasing number of companies are conducting biosimilar clinical trials.· Another trend that VMR predicts will continue in the pharmaceutical drug delivery industry is its increasing strategic partnerships and new product launches. Businesses in the industry always concentrate on methods like collaboration and developing and releasing new products. These strategies help enterprises increase their income, driving the overall market growth. Developing new goods with improved safety and usability will attract the vast pharmaceutical industry. Additionally, enhanced dose features supplement pharmacological therapy outcomes and broaden the scope of sickness management in home care settings.*Top Report Findings *
· Based on the route of administration, most of the pharmaceutical drug delivery market's revenue is controlled by the oral drug delivery category. Oral medicine is the most often used method of drug administration due to benefits such as patient comfort, patient choice, cost-effectiveness, and convenience of large-scale manufacturing of oral dose forms. Patients are more likely to comply with oral formulations than with alternative parenteral approaches for medical therapy, such as intravenously, subcutaneously, intramuscular injections, and inhalation (Ingersoll and Cohen). Furthermore, oral drugs can be directed to specific regions of the GI tract to improve pathological disorders such as stomach and colorectal cancers, infections, skin infections, intestine diseases, acid reflux ulcers, and gastroesophageal reflux difficulties.· Based on application, most of the pharmaceutical drug delivery market's revenue is controlled by the infectious diseases category. The widespread availability of infectious diseases worldwide is a crucial factor driving market expansion. Furthermore, the COVID-19 crisis has increased market R&D expenditure for therapeutic strategies, as has the increase in FDA approvals for such pharmaceuticals, boosting the market growth in this area. Also, the cancer section is predicted to grow significantly over the projection period. This is a result of a rise in the prevalence of cancer in society.· Based on the facility of use, the hospital's category controls most of the pharmaceutical drug delivery market's revenue. This is due to the increased presence of private and public hospitals worldwide. Increasing private and public spending on modern hospital construction has supported the category's rise. The rising number of hospital admissions due to illness burden fuels global expansion in this area.*Buy this Premium Research Report with Discount | Immediate Delivery @ *https://www.vantagemarketresearch.com/buy-now/pharmaceutical-drug-delivery-market-2150/0
*Recent Developments in the Global Pharmaceutical Drug Delivery Market *
· *In July 2021-*Darzalex, a subcutaneous formula that helped decrease treatment duration for multiple myeloma, was approved by the US FDA.
· *In December 2020-*Pfizer, Inc. gained FDA approval for BRAFTOVI (encaenia) plus cetuximab to treat patients with brafv600e-mutant metastatic colorectal cancer who have previously undergone therapy (CRC).
*Infectious Diseases Category in Pharmaceutical Drug Delivery Market to Generate Over 35% Revenue *
For better understanding, based on the application, the pharmaceutical drug delivery market is divided into Infectious Diseases, Cancer, Cardiovascular Diseases, Diabetes, Respiratory Diseases, Central Nervous System Disorders, Autoimmune Diseases and Other Applications.
The infectious diseases market was the largest market by the application during the projected period. Infectious diseases are illnesses caused by microbes like bacteria, viruses, fungi, or protozoa. They are usually favourable or even safe. The increased healthcare spending, which helps strengthen the market's architecture, is a crucial factor influencing its growth rate. Furthermore, numerous government agencies intend to improve the care system by boosting financing, which would affect marketplace dynamics.
On the other hand, the cardiovascular diseases category is anticipated to grow significantly. The convenience of drug administration via the oral route, patient characteristics, cost-effectiveness, and accessibility of large-scale manufacture of oral dosage forms contribute to this market segment's size. Additionally, advances in the oral mucoadhesive drug delivery segment, such as more focused drug delivery and prolonged and smaller tablet sizes for easier chewing, will likely fuel market expansion even further.
*North America Region in Pharmaceutical Drug Delivery Market to Generate More 41.90% Revenue *
The North America region is projected anticipated to do so in the coming years. The accessibility of favourable regulatory insurance rules has played a key effect in need for pharmaceutical drug delivery devices. The increased health awareness and improved access to modern medical facilities have fuelled market growth in the North American area. Furthermore, the creation of numerous novel pharmaceuticals in the pharma sector that can cure a variety of noncommunicable diseases is boosting the demand for pharmaceutical drug delivery solutions in North America at an exponential rate.
The Asia Pacific regional market is projected to grow the fastest in the pharmaceutical drug delivery market. This is due to the increasing incidences of chronic diseases among the population due to physical inactivity, sedentary lifestyles, and bad eating habits. The region's rapidly increasing biotechnology and rising demand for scientific drugs drive the desire for pharmaceutical drug delivery. According to the World Health Organization, low and middle-income countries have the highest number of chronic disease mortality.
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Pharmaceutical Drug Delivery Market Forecast Report (2023-2030).
*Global Pharmaceutical Drug Delivery Market Segmentation *
*By 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
*By Application*
· Infectious Diseases
· Cancer
· Cardiovascular Diseases
· Diabetes
· Respiratory Diseases
· Central Nervous System Disorders
· Autoimmune Diseases
· Other Application
*By Facility of Use*
· Hospitals
· Ambulatory Surgery Centres
· Home care Settings
· Diagnostic Centres
· Other Facilities of Use*By Region*
· North America
· United States
· Canada
· Mexico
· Europe
· Germany
· UK
· France
· 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 MEA
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*Scope of the Report: *
*Report Attributes* *Details*
Market Size in 2022 USD 1764.1 Billion
Revenue Forecast by 2030 USD 2687.7 Billion
CAGR 6.20% from 2023 to 2030
Base Year 2022
Forecast Year 2023 to 2030
Key Players 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
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