Published Date : 10 Feb 2023
The global pharmaceutical drug delivery market size was exhibited at USD 1.5 trillion in 2022 and is projected to hit around USD 2.04 trillion by 2030, registering a CAGR of 3.7% from 2023 to 2030. The Chinese pharmaceutical drug delivery market size was estimated at USD 254.5 billion in 2022.
Pharmaceutical drug delivery is administering a pharmaceutical compound to get a therapeutic effect. Nasal and pulmonary drug delivery are becoming very popular. These are used for the treatment of human diseases. These are gaining increasing importance. These are alternatives to parenteral drug delivery. Various pharmaceutical drug delivery systems have been formulated. These are being investigated for nasal and pulmonary delivery. The pharmaceutical compound is transported to its target site to get a wanted Therapeutic effect. It is formulated with distinct excipients, drug carriers, and medical devices. Various research has been conducted to enhance safety for the person administering the medication. It is incorporated with dosage form and route of administration. The term route of administration is used interchangeably with pharmaceutical drug delivery.
The two are separate concepts. It covers the engineering of delivery systems. It includes different dose forms and devices. It is used to deliver a drug through the same route. Drugs are used to treat ailments and improve health. The ways by which pharmaceutical drugs can be given to patients have changed. Advancements in pharmaceutical drug delivery have transformed the effectiveness of medications. It has become a vital topic in the pharmaceutical industry. A medicine's efficacy can be influenced by how it is delivered. Pharmaceutical drug delivery is used in medical and home care settings. Drug delivery devices are included in the drug delivery system. In pharmaceuticals, novel drug delivery devices are developed for various reasons. Various route of a pharmaceutical drug is available by which a drug can be given to the body. The oral route is the most commonly used one. Other pharmaceutical drug delivery routes include injection, inhalation, nasal, topical, transdermal, rectal, and sublingual.
The rising prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer majorly drives the global market. In line with this, technological advancements in the development of innovative devices significantly contribute to global market growth. Furthermore, diabetes can leads to kidney failure, heart attacks, blindness, and stroke. Apart from this, the increasing prevalence of various chronic diseases across the globe positively influences the market growth. Moreover, the development of innovative drugs for treatment boosts demand for pharmaceutical drug delivery solutions.
The significant growth in the pharmaceutical industry creates a positive outlook for the market. The development of various new and innovative drugs catalyzes market growth. The heavy investments by the market players in research and development activities of the new drugs accelerate the demand for pharmaceutical drug delivery solutions. The presence of various top market players propels market growth. The new product launches, mergers, acquisitions, and partnerships create a positive outlook for the market. The rising penetration of drug delivery devices catalyzes market growth.
Pharmaceutical Drug Delivery Market Report Scope
|Market Size in 2023||USD 1.57 Trillion|
|Market Size in 2030||USD 2.04 Trillion|
|Growth Rate||CAGR of 3.7%|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
|Forecast Period||2023 To 2030|
|Segments Covered||By Route of Administration, By Application, and By End User|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
Based on the route of administration, the oral dominated the market and accounted for the largest revenue share. Oral drug delivery is very common and the most convenient route of administration globally. It is self-administered, non-invasive, and cheap. The launch of different innovative drugs catalyzes market growth. The need for effective treatment of non-communicable diseases propels the market growth. The emergence of various new biopharmaceutical drugs has a positive impact on the growth of the segment. On the other hand, the topical is expected to witness a promising CAGR in the coming years. This route offers various benefits, such as ease of use, convenience, non-invasiveness, and painless delivery. The introduction of a time-controlled system drives the segment's growth.
Based on the application, cancer dominated the market and accounted for the largest revenue share. This is due to the increasing prevalence of cancer. Breast cancer, lung cancer, bowel cancer, and womb cancer are the most common cancer. On the other hand, cardiovascular is the fastest-growing segment during the forecast period. This is due to the increasing prevalence of cardiovascular diseases and the development of drugs to cure these diseases. These diseases are prevalent due to unhealthy food habits, obesity, consumption of alcohol, and physical inactivity.
Based on the end user, hospitals dominated the market and accounted for the largest revenue share. This is due to the increasing number of global private and public hospitals. The heavy investments by the government in the development of advanced hospitals catalyzes segment growth. The rising number of people admitted into hospitals propels the market growth. The increasing burden of diseases fuels the market growth. On the other hand, home healthcare is expected to witness a promising CAGR in the coming years. This is due to the increasing geriatric population. Factors such as inflating disposable incomes, rising awareness regarding hospital-acquired infections, and high healthcare expenditure significantly contribute to market growth. All these factors drive the home healthcare segment growth.
Based on the region, North America dominated the market and accounted for the largest revenue share. It is expected to maintain its dominance in the coming years. This is due to the increased prevalence of chronic diseases. Chronic diseases are very common in the USA. The development of various innovative drugs fuels market growth. The significant growth in the biopharmaceutical industry positively influences the market growth. The demand for pharmaceutical drug delivery solutions is very high across the region. The rising demand for personalized drugs favors market growth.
Asia Pacific is expected to witness a promising CAGR in the coming years. This is due to the increasing prevalence of various chronic diseases among the population. The rapidly growing biotechnology industry significantly contributes to market growth. The rising need for biotechnology drugs fuels market growth. The accessibility to healthcare facilities drives market growth.
Market Driver: Increasing Prevalence of chronic conditions
The increasing prevalence of Chronic conditions such as diabetes, cancer, osteoarthritis, and osteoporosis significantly contributes to the global pharmaceutical drug delivery market. In line with this, the advent of advanced technologies creates a positive outlook for the market. Furthermore, introducing new drugs in the market positively influences market growth. The rising mergers and acquisitions boost the growth of the global pharmaceutical drug delivery market.
The growing concerns & awareness about health care favors market growth. Factors such as an increase in the geriatric population and research and development activities in the field of drug delivery catalyze market growth. The rising number of hospitals and clinics propels the market growth. The global pharmaceutical drug delivery market is anticipated to witness significant growth in the next few years.
Market Opportunity: Investment in healthcare infrastructure
Heavy investments by governments across various countries in developing healthcare infrastructure offer numerous opportunities for market growth. Governments are investing in modernizing healthcare infrastructure. This is expected to boost market growth. All these factors drive the demand for pharmaceutical drug delivery.
The innovation in drug delivery and the presence of a large number of players catalyzes market growth. Additionally, significant growth of the pharmaceutical & biotechnology industries propels the market growth. The rising government initiatives for improving health care offer lucrative opportunities for market growth.
Market Restraint: Needlestick injuries
There are greater threats that needlestick injuries pose to an individual's health and safety. Many people are at risk of acquiring blood-borne diseases. All these factors restrict the pharmaceutical drug delivery market growth.
Market Challenge: Pricing pressure
The market players are facing pricing pressure which challenges the pharmaceutical drug delivery market growth. The governments are undertaking cost-cutting initiatives. The market players are under cost-cutting pressure. All these factors hamper the market growth.
Market Key Players:
By Route of Administration
By End User
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