The Pharmaceutical Drug Delivery Market size was estimated to be US$ 1.74 billion in 2023 and is expected to reach US$ 3.15 billion by 2031; it is estimated to record a CAGR of 7.7% till 2031. Strategic developments and product launches are likely to remain key Pharmaceutical Drug Delivery Market trends.
Increasing geriatric population, increasing home healthcare, increasing prevalence of chronic diseases, increasing surgical procedures, and increasing prevalence of infectious diseases is driving the growth of the pharmaceutical drug delivery market. In addition, increase in FDA approval of various noninvasive drug delivery devices and increasing R&D expenditure by pharmaceutical companies for drug development has fueled the demand for pharmaceutical drug delivery.
Drug delivery systems are primarily used for the controlled or targeted delivery of various therapeutic agents to treat various diseases or improve the health of the patients. China is one of the major emerging markets in pharmaceutical drug delivery market. The China drug delivery devices market is driven by the technological advancements in the medical device industry and the rise in focus on diagnosis and treatment of chronic diseases among the adults and the elderly population. China is expected to provide lucrative opportunities to local and international players to manufacture and market drug delivery devices in the country during the forecast period.
Noninvasive drug delivery typically involves methods of painless drug delivery across the biological barriers of mucosal surfaces or skin. This drug delivery method could lead to enhanced access to medicines, improved drug safety profiles, and adherence to treatment regimes. Patients prefer noninvasive drug delivery routes due advantages over injection-based drug administration such as no injuries and infections due to needles, and cost effectiveness of noninvasive delivery routes. A few of the most popular noninvasive drug delivery methods are: Topical, transdermal-passive, transdermal-active (device-aided enhanced penetration), trans-mucosal membrane, trans-ocular membrane, and delivery via an alveolar membrane from inhaled medication. Drug delivery using noninvasive methods involves reduced dosing frequency and simplified dosing schedules. Moreover, these delivery systems can significantly reduce the cost of clinical use as patients can self-administer drugs via these methods. Thus, the growing demand for noninvasive drug delivery systems propels the growth of the drug delivery systems market.
Low patient compliance is a notable concern among physicians and medical device manufacturers. Hence, manufacturers are focusing on developing intuitive and user-friendly drug delivery systems that provide high patient comfort. Patients, caregivers, and physicians 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. 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. Patient compliance has been found to be much higher when drugs are administrated by noninvasive methods, as they experience decreased pain during the procedure.
Key segments that contributed to the derivation of the Pharmaceutical Drug Delivery Market analysis are route of administration, application, and end user.
The geographic scope of the Pharmaceutical Drug Delivery Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the Pharmaceutical Drug Delivery Market. The market growth in North America is characterized by increased demand for infectious disease medications from patient, the presence of key market players, an increase in product launches, increasing prevalence of chronic diseases, and extensive R&D conducted by academic and research institutes and pharmaceutical. Due to technological advancements, infusion therapies can be safely and effectively managed at home. Infusion therapy in homecare settings has evolved into a completely cost-effective therapy, and it has resulted in the creation of inpatient treatment in a hospital or skilled nursing facility, thereby driving the growth of drug delivery market in North America. Moreover, Asia Pacific is anticipated to record the highest CAGR in the coming years.
The regional trends and factors influencing the Pharmaceutical Drug Delivery Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Pharmaceutical Drug Delivery Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.74 billion |
| Market Size by 2031 | US$ 3.15 billion |
| Global CAGR (2023 - 2031) | 7.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Route of Administration
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Pharmaceutical Drug Delivery Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Pharmaceutical Drug Delivery Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Pharmaceutical Drug Delivery Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for pharmaceutical drug delivery and strategies:
The “Pharmaceutical Drug Delivery Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: