Pharmaceutical Drug Delivery Market Size & CAGR by 2031
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.
Pharmaceutical Drug Delivery Market Analysis
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.
Pharmaceutical Drug Delivery Market Overview
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.
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Pharmaceutical Drug Delivery Market: Strategic Insights
Market Size Value in US$ 1,403,082.9 Million in 2019 Market Size Value by US$ 2,296,170.9 Million by 2027 Growth rate CAGR of 6.6% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Pharmaceutical Drug Delivery Market: Strategic Insights
| Market Size Value in | US$ 1,403,082.9 Million in 2019 |
| Market Size Value by | US$ 2,296,170.9 Million by 2027 |
| Growth rate | CAGR of 6.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Pharmaceutical Drug Delivery Market Drivers and Opportunities
Increasing Demand for Non-Invasive Drug Delivery
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.
Focus on Improving Patient Compliance – An Opportunity of Pharmaceutical Drug Delivery 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.
Pharmaceutical Drug Delivery Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Pharmaceutical Drug Delivery Market analysis are route of administration, application, and end user.
- Based on route of administration, the Pharmaceutical Drug Delivery Market is segmented into oral drug delivery, injectable drug delivery, topical drug delivery, ocular drug delivery, pulmonary drug delivery, nasal drug delivery, transmucosal drug delivery, and implantable drug delivery. The injectable drug delivery segment held the largest market share in 2023.
- By application, the Pharmaceutical Drug Delivery Market is segmented into infectious diseases, cancer, cardiovascular diseases, diabetes, respiratory diseases, central nervous system disorders, autoimmune diseases, and others. The cancer segment held the largest market share in 2023.
- Based on end user, the Pharmaceutical Drug Delivery Market is segmented into hospitals, home care settings, ASCs and clinics, and others. The hospitals segment held the largest market share in 2023.
Pharmaceutical Drug Delivery Market Share Analysis by Geography
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.
Pharmaceutical Drug Delivery Market Report Scope
Pharmaceutical Drug Delivery Market News and Recent Developments
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:
- Stevanato Group collaborated with Recipharm to develop and manufacture pre-fillable syringes that would be integrated into a new soft mist inhaler for inhaling sensitive biological products. The new strategic collaboration aims to provide innovative primary packaging to pharmaceutical and biopharmaceutical companies using Recipharm’s proprietary soft mist inhalers. (Source: Stevanato Group, Company Website, 2023)
- Coherus BioSciences, Inc has launched its UDENYCA on-body injector (OBI) utilizing the LTS Sorrel wearable drug delivery platform. UDENYCA (pegfilgrastim-cbqv) is a biosimilar pegfilgrastim administered the day after chemotherapy to decrease the incidence of infection as manifested by febrile neutropenia. (Source: Cision US Ltd, Press Release, 2024)
Pharmaceutical Drug Delivery Market Report Coverage and Deliverables
The “Pharmaceutical Drug Delivery Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Route of Administration ; Application ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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