Pharmaceutical Drug Delivery Market By Route of Administration (Oral drug delivery, Nasal drug delivery, Ocular drug delivery, Topical drug delivery, Other drug delivery), By Application (Cancer, Diabetes, Cardiovascular Diseases, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The pharmaceutical drug delivery market was valued for $1,498.72 billion in 2022 and is estimated to reach $2,307.27 billion by 2032, exhibiting a CAGR of 4.4% from 2023 to 2032. Pharmaceutical drug delivery is defined as a process of administering medications or therapeutic substances to patients to achieve the desired therapeutic effect. It involves designing and development of various methods, systems, and technologies that enable safe and effective delivery of drugs to specific target sites within the body. Drug delivery systems are developed to maximize the effectiveness of medications, reduce the potential adverse effects, enhance bioavailability, and improve patient compliance. The common drug delivery methods are oral delivery, injectable delivery, transdermal delivery, topical delivery, targeted delivery, and others. The pharmaceutical drug delivery market growth is driven by an increase in the number of people suffering from chronic diseases, rise in prevalence of geriatric population, and advancement in R&D activities in pharmaceutical industry.
Chronic diseases, such as cardiovascular disorders, diabetes, cancer, and respiratory diseases, are characterized by long-term medication treatment. These conditions require regular administration of drugs to control symptoms, slow disease progression, or maintain quality of life. This has increased the demand for effective drug delivery systems, thereby driving the market growth. According to International Diabetes Federation (IDF), in 2021, it was estimated that about 3 in 4 adults with diabetes live in low and middle-income countries and approximately 206 million people were diagnosed with diabetes in western pacific.
For instance, in May 2022, U.S. Food and Drug Administration (FDA), approved new injectable delivery product, Mounjaro to treat type 2 diabetes. Thus, the rise in prevalence of diabetes has led to the development of advanced insulin delivery systems, which are highly effective to treat diabetes. In addition, growth in prevalence of age-related diseases such as cardiovascular disorders, arthritis, neurodegenerative diseases, and osteoporosis have created a significant demand for effective drug delivery.
For instance, in January 2023, Biogen Inc., one of the global leader in pharmaceutical industry, received U.S. Food and Drug Administration (FDA) approval for LEQEMBI to treat Alzheimer’s disease. LEQEMBI is a monoclonal antibody directed intravenous drug delivery medication that effectively treats Alzheimer’s disease. Thus, development of new targeted drug delivery and controlled release formulation further contribute toward the market growth. However, stringent regulatory requirements can increase the time, cost, and complexity of new drug delivery technologies and restrain market growth. Furthermore, high costs associated with research and development of new drug delivery negatively impact market growth.
On the other hand, an increase in demand for advanced drug delivery systems is expected to create lucrative opportunities for market growth during the forecast period. This is attributed to the increase in prevalence of chronic diseases, enhanced treatment outcomes, and availability of favorable reimbursement policies for the development of advanced drug delivery systems.
The pharmaceutical drug delivery market is segmented on the basis of route of administration, application, and region. On the basis of route of administration, the market is classified into oral drug delivery, nasal drug delivery, ocular drug delivery, topical drug delivery, and other drug delivery. As per application, the market is categorized into cancer, diabetes, cardiovascular diseases, and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global pharmaceutical drug delivery market are Bayer AG, Cipla Ltd, F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Johnson & Johnson, Merck & Co., Inc., Novartis AG, Amgen Inc., Pfizer Inc., Sanofi. Key players operating in the market have adopted product launch and product approval as their key strategies to expand their market share and product portfolio.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pharmaceutical drug delivery market analysis from 2022 to 2032 to identify the prevailing pharmaceutical drug delivery market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the pharmaceutical drug delivery market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global pharmaceutical drug delivery market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Route of AdministrationTopical drug delivery
Other drug delivery
Oral drug delivery
Nasal drug delivery
Ocular drug delivery
By ApplicationCancer
Diabetes
Cardiovascular Diseases
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Amgen Inc.
Bayer AG
Cipla Ltd
F. Hoffmann-La Roche Ltd.
GlaxoSmithKline plc
Johnson & Johnson
Merck & Co., Inc.
Novartis AG
Pfizer Inc.
Sanofi S.A.
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