Pharmaceutical Drug Delivery Market Analysis And Forecast To 2031: By Type Of Delivery System, Intrauterine Implants, Product Implants, Polymeric Drug Delivery, Targeted Drug Delivery), By Application (Infectious Diseases, Oncology, Ophthalmology, Urology, Diabetes, Central Nervous System Diseases, Cardiovascular Diseases, Respiratory Diseases), By Route Of Administration (Oral, Injectable, Inhalation, Ocular, Nasal, Topical), By End-Use (Hospitals, Clinics, Homecare Settings, Ambulatory Surgical Centers, Diagnostic Centers), And Region
The global pharmaceutical drug delivery market was valued at USD 2.2 billion in 2021 and it is anticipated to grow up to USD 3.3 billion by 2031, at a CAGR of 4.2% during the forecast period.
The pharmaceutical drug delivery systems consist of various forms, including controlled-release and oral delivery systems. They can help maximize therapeutic efficacy by controlling drug pharmacokinetics, reducing toxicity, increasing accumulation at the target site, as well as improving patient compliance and acceptance.
Market Trends and Drivers
Rising prevalence of chronic conditions including kidney disease will foster the pharmaceutical drug delivery market trends during the forecast timeframe. As per the CDC, nearly 15% of U.S. adults have chronic kidney disease, which could boost the pharmaceutical application of targeted drug delivery through the use of nanomaterials for effective chronic disease treatment. Such factors, along with an increase in healthcare spending across the developing economies, will further generate opportunities for industry growth during the forecast timeline.
Market Restraints and Challenges
Risk of needlestick injuries may restraint the market growth. Needlestick injuries are one of the most serious health and safety threats. For instance, according to the PharmaJet, in the U.S., around 600,000 to 800,000 needlestick injuries are reported every year. The Occupational Safety and Health Administration (OSHA) estimates that around 5.6 million workers in the US are at the risk of exposure to blood-borne pathogens due to needlestick injuries. Furthermore, the CDC estimates that an average of 385,000 needlestick injuries occur annually in US hospital settings. Similarly, in Europe, more than 1 million needlestick injuries are reported each year as per Becton, Dickinson and Company. Hence aforementioned statistics may hamper the market growth during the forecast period.
Global Pharmaceutical Drug Delivery Market Segmental Overview
The report analyses the global pharmaceutical drug delivery market based on types of delivery system, application, route of administration, end use, and region.
Global Pharmaceutical Drug Delivery Market by Types of Delivery System
Based on types of delivery system, it is segmented into intrauterine implants, product implants, polymeric drug delivery, targeted drug delivery and others. Among these, the polymeric drug delivery segment accounted for significant market share in 2021. The polymeric drug delivery segment is set to account for a major share in the pharmaceutical drug delivery market by 2031. This can be attributed to the myriad benefits of polymeric nanoparticles in drug delivery, including increased drug penetration and retention, controlled release, and the transport of insoluble drugs. The escalating development of novel polymeric drug delivery platforms, including TREKKA Therapeutics CAPRO, for pharma and biopharma companies to improve dosing, efficacy, accuracy, and reproducibility in drug discovery and delivery research will also foster the segment expansion in the coming years.
Global Pharmaceutical Drug Delivery Market by Application
Based on application, it is segmented into infectious diseases, oncology, ophthalmology, urology, diabetes, central nervous system diseases, cardiovascular diseases, respiratory diseases and others. Among them, the Central Nervous System (CNS) disorders segment is expected to experience the fastest growth rate during the forecast period. Growing incidence of neurological disorders such as Parkinson’s disorder, Alzheimer’s disease, Hunter’s syndrome, and brain tumor is expected to boost the segment growth over the forecast period. Therefore, to enhance the treatment of these neurological disorders, new drug delivery devices are being developed for CNS based on rational drug design and using receptor-ligand interaction for understanding the appropriateness of drug delivery on the site.
Global Pharmaceutical Drug Delivery Market by Route of Administration
Based on route of administration, it is segmented into oral, injectable, inhalation, ocular, nasal, topical and others. Among them, topical segment is expected to experience the fastest growth rate during the forecast period. This can be attributed to convenience and the ease of use, the ease of dosage, painless and non-invasive administration, and enhanced patient compliance. The increasing prevalence of infectious diseases across the globe is the major factor driving the market growth. Also, the current COVID-19 pandemic scenario has increased the R&D expenditure for new drugs in the market along with the increase in FDA approvals for such drugs, thus propelling the segmental growth.
Global Pharmaceutical Drug Delivery Market by End-use
Based on end-use, it is segmented into hospitals, clinics, homecare settings, ambulatory surgical centers, diagnostic centers, and others. The hospitals segment accounted for significant revenue share in 2021 owing to the increasing healthcare expenditure to provide a proper diagnosis, treatment, and improved patient care in hospitals. Furthermore, hospitals have trained professionals along with strong financials to purchase expensive medical devices. COVID-19 has also positively impacted the hospital segment. Also, according to data published by Public Health England in 2019, lung disease accounts for 700,000 hospital admissions every year. This rise in the number of diagnoses and treatments in hospitals will flourish the market growth. Such factors increase the demand for therapeutic respiratory devices in hospitals. Moreover, patients admitted in the hospital with various disorders require different drugs for treatment for which various drug delivery devices are used. However, hospital-acquired infection is expected to impact the adoption of drug delivery devices in hospitals, which in turn may decline the segment growth during the forecast period.
Geographical Analysis of Global Pharmaceutical Drug Delivery Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America held the largest share in the market largely due to the presence of major players in the region and growing adoption of drug delivery devices. Moreover, increasing awareness in the region regarding the advantages of drug delivery devices is also expected to boost market growth in the region. In addition, growing product approval in countries such as the U.S. is also expected to contribute toward market growth. In March 2019, Aptar Pharma received the U.S. FDA approval for nasal drug delivery device.
Major Players in the Global Pharmaceutical Drug Delivery Market COVID-19 Impact
The impact of COVID-19 on the pharmaceutical drug delivery industry is observed to be positive. Due to the rapid spread of COVID-19 and increasing fear, drugs are being stocked by various end users and patients. This is expected to boost the growth of the pharmaceutical drug delivery market during 2020-2021. Various companies have witnessed an increase in revenue in the first quarter of 2020 as compared to the first quarter of 2019. For example, AbbVie reported an increase of 16.8% in its revenue in the first quarter of 2020 as compared to the first quarter of 2019. Similarly, Amgen Inc. recorded a revenue of USD 6,161 million in the first quarter of 2020, an 11% increase as compared to the first quarter of 2019 (USD 5,286 million). Raw materials required for manufacturing drugs, such as drug components and equipment used in manufacturing, are at the risk of a supply shortage due to the temporary lockdown of manufacturing sites in areas affected by COVID-19 or travel restrictions impacting shipments. However, currently, the trading and export of raw materials has resumed back owing to the uplifting of lockdowns and resumed manufacturing and production of pharmaceutical companies. Companies around the world are suffering from event cancellations preventing pharmaceutical companies from introducing new products and services. Digitalization in the pharmaceutical world incorporated learning into future crisis plans and processes.
Recent Developments
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