Pharmaceutical Drug Delivery Market is expected to grow at a CAGR of 6.4% by 2033 | FMI Analyst
The global Pharmaceutical Drug Delivery Market is projected to have a high-paced CAGR of 6.4% during the forecast period. The current valuation of the pharmaceutical drug delivery market is US$ 1.9 trillion in 2023. The value of the pharmaceutical drug delivery market is anticipated to reach a high of US$ 3.5 trillion, by the year 2033.
A vast increase in the frequency of deaths among the elderly and cancer patients is fueling demand for pharmaceutical medication delivery systems. These systems improve the effectiveness and toxicity of anticancer drugs. The market expansion can be attributed to fast-increasing research and development investments by pharmaceutical development companies. This is primarily done to concentrate on the discovery of effective therapies for chronic and noncommunicable diseases such as cancer, diabetes, and hypertension. Taris, an research & development-based biomedical business, for example, has a controlled-release drug delivery system in its pipeline product TAR-200 (Gemcitabine), which is indicated for the treatment of bladder cancer.
In addition, Johnson & Johnson finalized the acquisition of Taris Biomedical in 2019. One of the primary motivations for the purchase is said to be its principal investigational medicine, TAR-200. The development of new goods with improved safety and usability is expected to attract the vast pharmaceutical industry. Furthermore, improved dosage characteristics complement pharmacological treatment outcomes and expand the possibility for illness management in home care settings.
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For instance, Ypsomed announced YpsoMate in November 2021, claiming it to be the world’s first auto-injector for prefilled syringes with an integrated connection. It is suitable for self-administration. Moreover, industry participants are increasingly collaborating with pharmaceutical firms to develop and commercialize goods. KINDEVA DRUG DELIVERY, for instance, joined with Cambridge Healthcare Innovations Limited (CHI) in April 2021 to develop and market CHI’s eolus dry-powder inhaler (DPI) platform technology. Topical pharmaceutical drug delivery entails drug transfer from a product on the skin to a local target location, followed by clearance to the rest of the body and deeper tissues via diffusion, metabolism, and dermal circulation.
According to statistics published in the World Health Organization’s Global Health Expenditure Database in 2016, the average per capita public spending on health in middle-income countries has more than doubled since 2000, as these nations progress in their transition to domestic funding. Global health spending in 2016 was US$ 7.50 trillion, which equates to 10.0% of the global GDP. The increased execution of strategic initiatives and the creation of unique goods are the primary drivers driving the segment’s growth. In March 2021, for example, scientists at Stanford University and the University of North Carolina at Chapel Hill (UNC) developed a 3D-printed vaccination patch that they claim gives better protection than a standard vaccine injection. The creation of such unique goods is fueling the use of medication delivery products, which is boosting the market growth.
However, various regulatory approval techniques are used for highly sophisticated items. The severe rules imposed by regulatory organizations to evaluate product performance and safety are projected to hinder the introduction of technologically sophisticated and novel items throughout the forecast period.
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- The United States is expected to dominate the global pharmaceutical medication delivery market during the forecast period. Obesity rates in the United States are rising owing to rapid changes in lifestyle, resulting in a slew of chronic ailments such as diabetes and heart disease. Nanotechnology advances have significantly improved drug design, enabling focused, safe, and effective medicinal formulations including nanoparticles (NP).
- Throughout the estimated period, China is expected to lead the Asia Pacific pharmaceutical drug delivery market. The growing prevalence of chronic diseases in China has increased the use of medication delivery systems, particularly disposable needles. The International Diabetes Federation’s Diabetes Atlas 2021 predicts that the age-adjusted comparative prevalence of diabetes in China in 2021 is expected to be 10.6%, 11.8% in 2030, and 12.5% in 2045.
- Owing to the simplicity of consumption, the ‘oral drug delivery’ route of administration type is expected to hold the greatest revenue, through the forecast period.
- As the majority of income earned by biotech and pharmaceutical businesses offers resources to the healthcare industry, the ‘infectious diseases application type is the most creative segment for key companies, accounting for a sizable portion.
Given the presence of both foreign and local rivals, the global pharmaceutical drug delivery market share is split. Several firms have a substantial market share in their respective sectors. Organic developments, such as product approvals and the global rise in chronic diseases, are typically valued by large corporations. As a consequence of these factors, the global pharmaceutical drug delivery market is expected to increase rapidly.
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- Novartis International AG
- Hoffmann-La Roche AG
- Pfizer Inc.
- Becton Dickinson & Company
- GlaxoSmithKline PLC
- Merck & Co Inc
- Sanofi S.A.
- Bayer Medicine Products AG
- In December 2020, Pfizer, Inc. received United States FDA clearance for BRAFTOVI (encorafenib) with cetuximab to treat patients with brafv600e-mutant metastatic colorectal cancer who have previously undergone therapy (CRC).
- In July 2021, Darzalex, a subcutaneous solution developed by Johnson & Johnson, was approved by the United States Food and Drug Administration.
Key Segments Profiled
By Route of Administration:
- Oral Drug Delivery
- Injectable Drug Delivery
- Topical Drug Delivery
- Ocular Drug Delivery
- Pulmonary Drug Delivery
- Nasal Drug Delivery
- Transmucosal Drug Delivery
- Implantable Drug Delivery
- Infectious Diseases
- Cardiovascular Diseases
- Respiratory Diseases
- Central Nervous System Disorders
- Autoimmune Diseases
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By Facility of Use:
- Ambulatory Surgery Centers/Clinics
- Home Care Settings
- Diagnostic Centers
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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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