Drug Delivery Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Route of Administration (Injectable Drug Delivery, Oral Drug Delivery, Transmucosal Drug Delivery, Topical Drug Delivery, Implantable Drug Delivery, and Ocular Drug Delivery),

Drug Delivery Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Route of Administration (Injectable Drug Delivery, Oral Drug Delivery, Transmucosal Drug Delivery, Topical Drug Delivery, Implantable Drug Delivery, and Ocular Drug Delivery), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and End User (Hospitals and Clinics, Home Care Settings, and Other End User)

The drug delivery market size is expected to grow from US$ 2,099.85 billion in 2022 to US$ 3,254.59 billion by 2028; it is estimated to record a CAGR of 7.7% from 2023 to 2028.

The drug delivery market growth is attributed to the rising incidence of chronic diseases, growing demand for noninvasive drug delivery systems, and increasing R&D expenditures in pharmaceutical companies. However, high costs associated with the development of drugs and delivery systems and product recalls in drug delivery systems are hampering the market's growth.

Low patient compliance is a notable concern among physicians and medical device manufacturers. Hence, manufacturers are focusing on developing user-friendly and intuitive drug delivery systems that provide high patient comfort. Physicians, caregivers, and patients seek more patient-centric solutions, evaluating delivery systems and packaging options to encourage patients to take their medications as directed. Accurately measured doses and easy-to-use packaging with clear labeling are essential to meet today's self-sufficiency needs. The packaging must also be childproof, and it should prohibit counterfeiting.

Unit-dose packaging in innovative forms is increasingly used to improve patient compliance with prescribed drug therapy. A unit dose pack or container is filled precisely to contain medicines in quantities intended for a single dose. These features reduce medication errors because a drug's identity is quickly confirmed, and packaging ensures patients take the correct dose of medicines. Drug manufacturers are now focusing on drug delivery systems that offer ease of use, portability, and convenience for patients taking drugs at locations other than home. Unither Pharmaceuticals— specializing in the development and contract manufacturing of sterile, single-dose pharmaceuticals—offers a range of convenient and easy-to-use dosage forms and delivery systems. Various forms include stick packs, single-dose vials with blow-fill-seal (BFS) technology, and effervescent tablets. Drug delivery systems that use BFS and stick-pack technologies help ensure accurate dosages and provide patients with a safer, portable, and more convenient way of adhering to their treatment regimen. These single-dose systems benefit manufacturers by aiding differentiation between different drug products and by extending product lifecycles.

Novo Nordisk has developed a FlexTouch insulin pen that requires less force to inject, an end-of-dose click to ensure accurate dose delivery, and a thin needle to reduce pain while injecting. Further, nasal sprays trickle down the throat, which is one of the main problems with nasal sprays; hence, OptiNose has developed an innovative inhaler that specifically delivers the medication in the nasal cavity. Companies also emphasize increasing convenience for patients by enabling them to use the same device they have become comfortable and familiar with to treat new indications. GlaxoSmithKline offers Breo Ellipta, an inhaler, for treating chronic obstructive pulmonary disease (COPD) and asthma patients, in addition to its initial indication as a once-a-day respiratory inhaler. Some companies are also developing devices that allow the transfer of more viscous drug products, larger molecules, and higher dose concentrations that are often difficult and painful to inject through manual delivery methods. Such innovative products help in improving patient compliance and reduce the chances of medication errors. Thus, the growing focus on patient compliance and satisfaction provides significant opportunities for the growth of the drug delivery market.

Distribution Channel -Based Insights

Based on distribution channel, the drug delivery market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. In 2022, the hospital pharmacies segment held the largest share of the market and is expected to register the highest CAGR during the forecast period. Hospital pharmacies are integrated into healthcare centers such as hospitals, clinics, poison control centers, residential care facilities’ drug information centers, and drug dependency facility centers. Capacities to support the storage of extensive stocks, availability of various medicines on the spot, and reimbursement on the drugs purchased under healthcare plans are the primary benefits conferred by these pharmacies. In addition, the stock of medicines in hospital pharmacies includes more specialized and investigational medications (which are being studied but have not yet been approved), which community settings do not have. Hospital pharmacies are not retail establishments; they typically provide medications for hospitalized patients. Thus, they don’t provide prescription services to the public. Thus, the ease of availability of specialized therapeutics contributes to the inclination of patients toward hospital pharmacies.

The World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and International Diabetes Federation (IDF) are among the primary and secondary sources referred to while preparing the drug delivery market report.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the drug delivery market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global drug delivery market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.