New York, July 26, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Pharmaceutical Drug Delivery Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Route of Administration, Application, End User and Geography,” the report provides trends prevailing in the global pharmaceutical drug delivery market along with the growth drivers and restraints pertaining to the market. The growing prevalence of infectious and chronic diseases, and increasing R&D spending on the drug delivery devices are the major factor driving the growth of the market. However, the high cost of drug delivery device development is restrains the growth of the market.
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Pharmaceutical Drug Delivery Market Report Scope & Strategic Insights:
| Report Coverage | Details |
| Market Size Value in | US$ 1403.0829 billion in 2019 |
| Market Size Value by | US$ 2296.1709 billion by 2027 |
| Growth rate | CAGR of 6.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
| No. of Pages | 197 |
| No. Tables | 72 |
| No. of Charts & Figures | 78 |
| Historical data available | Yes |
| Segments covered | Route of Administration ; Application ; End User , and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Pharmaceutical Drug Delivery Market: Competitive Landscape and Key Developments
Pfizer Inc., Bayer AG, Johnson & Johnson Services, Inc., Novartis AG, 3M, Becton, Dickinson and Company, Sanofi S.A., Merck Group, GlaxoSmithKline plc., and Antares Pharma are among the key players operating in the pharmaceutical drug delivery market. The companies are focused on following organic strategies such as product launches and business expansions to sustain their position in the dynamic market.
In May 2020, the Janssen Pharmaceutical Companies of Johnson & Johnson received the US Food and Drug Administration (FDA) approval for IMBRUVICA (ibrutinib) in combination with rituximab for the treatment of patients with chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL).
In Nov- 2019, Antares Pharma, Inc. has signed an agreement with Idorsia Pharmaceuticals Ltd. to develop a novel, drug-device product combining selatogrel, developed for the treatment of a suspected acute myocardial infarction (AMI) in adult patients with a history of AMI.
In March-2017, Merck has received FDA approval for its BAVENCIO (avelumab) Injection for intravenous use, for the treatment of adults and pediatric patients 12 years and older with metastatic Merkel cell carcinoma (mMCC).
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The prevalence of infectious diseases, especially caused by bacteria, is increasing worldwide. For instance, according to a study published by American Society for Microbiology in 2019, ~1.5–4.5 million infections are caused by the Carbapenem-resistant Enterobacteriaceae bacteria every year in the world. This leads to the hospitalization of ~49,000 individuals in the US each year. Moreover, according to a study published by UNICEF, in 2018, pneumonia caused the death of ~1,755,000 children of <5 years of age; also, ~1,200,000 children lost their lives by diarrhea in the world. Such exponentially growing prevalence of infectious diseases results in the use of more drugs, which eventually drives the growth of the pharmaceutical drug delivery market.
In terms of chronic conditions, cancer and diabetes are the leading cause of mortalities worldwide. For instance, according to a study conducted by the American Cancer Society (ACS), in 2018, ~1,735,350 new cancer cases were diagnosed in the US. Further, according to the International Diabetes Federation (IDF), in 2017, ~46 million Americans were suffering from diabetes; moreover, this number is expected to reach 62 million by 2045. The data also mentioned that ~425 million people were living with diabetes in 2017 in the world, and the number is likely to reach 629 million by 2045.
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Pharmaceutical and biopharmaceutical companies are focusing on R&D to develop new molecules for various therapeutic applications and drug delivery platforms. The companies invest majorly on R&Ds with an aim to deliver high-quality and innovative products to the market. R&D spending by the biopharmaceutical companies has also increased over the years. According to a report of Pharmaceutical Research and Manufacturers of America (PhRMA), the R&D expenditure of the biopharmaceutical companies increased from US$ 49.6 billion in 2012 to US$ 58.8 billion in 2015. Also, Evonik Corporation has invested more than US$ 50 million over the last 4 years in the production of RESOMER polymers for drug delivery and bioreabsorbable medical devices.
The companies in the pharmaceutical drug delivery market players are engaged in establishing new collaborations and partnerships for the development of new drug delivery systems. For instance, in December 2018, IntelGenx Corp., a leading provider of oral drug delivery solutions, entered into a strategic collaboration with Gensco Pharma for the commercialization of RIZAPORT in the US.
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Pharmaceutical Drug Delivery Market: Segmental Overview
The global pharmaceutical drug delivery market is segmented on the basis of the route of administration, application, and end user. The market, by route of administration, 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 share of the market in 2019.
Moreover, the topical drug delivery segment is anticipated to register the highest CAGR in the market during the forecast period. Based on application, the pharmaceutical drug delivery market is segmented into infectious diseases, cancer, cardiovascular diseases, diabetes, respiratory diseases, central nervous system disorders, autoimmune diseases, and other diseases. The cancer segment held the largest share of the market in 2019; the infectious diseases segment is further expected to register fastest CAGR during 2020–2027. On the basis of end user, market is segmented into hospitals, home care settings, ASC/clinics, and other end users. The Hospitals segment is expected dominate the market during the forecasted period.
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Browse Adjoining Reports:
Oral Drug Delivery Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Type (Controlled Release, Orodispersible Tablets and Taste Making.)
Oral Controlled Release Drug Delivery Technology Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Drug Release (Diffusion Controlled Release System, Dissolution Controlled Release System, Osmotically Controlled Release System, Dissolution And Diffusion Controlled Release System, Ion Exchange Resins Controlled Release, Hydro-Dynamically Balanced Drug Delivery System, Others); Dosage Forms (Solid Dosage Forms, Semisolid, Liquid)
Drug Delivery Systems Market to 2027- Global Analysis and Forecasts by Route of Administration (Oral, Transmucosal, Injectable, Topical, Implantable, and Ocular); Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies); Application (Hospitals & Clinics, Home Care Settings, and Others) and Geography
Advanced Drug Delivery Systems Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Delivery Type (Oral Drug Delivery, Pulmonary Drug Delivery, Transdermal Drug Delivery, and Parental Drug Delivery), Carrier Type (Liposomes, Nanoparticles, Microspheres, Monoclonal Antibodies, and Others); End User (Hospitals, Specialized Clinics, and Others)
Subcutaneous Drug Delivery Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Product Type (Fillable Injectable, Prefilled Injectable) ; Type (Disposable subcutaneous drug delivery injectable, Reusable subcutaneous drug delivery injectable) ; Technology type (Jet, Spring, Gas) ; Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Drug store, Online Pharmacies)
Injectable Drug Delivery Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Product Type (Formulation and Devices); Application (Autoimmune Diseases, Oncology Disorders, Hormonal Disorders, Orphan Diseases, and Others); End User (Homecare, Ambulatory Care, Physician Offices and Others)
Topical Drug Delivery Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product (Liquid Formulations, Semi-Solid Formulations, Solid Formulations and Transdermal Products); Route of Administration (Nasal Drug Delivery, Ophthalmic Drug Delivery, Dermal Drug Delivery, Rectal Drug Delivery, ans Vaginal Drug Delivery); End User (Burn Centers, Hospitals and Clinics, Home Care Settings, and Other End Users), and Geography
Transdermal Drug Delivery System Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Transdermal Patches and Transdermal Semisolids); Application (Cardiovascular Diseases, Central Nervous System Disorders, Pain Management, Hormonal Applications and Others); End User (Hospitals & Clinics, Home Care Settings and Others); and Geography
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