Pharmaceutical Drug Delivery Market worth $2,206.5 billion by 2026
2022-05-02 15:03:25 UTC | Healthcare & Pharmaceuticals
Major Growth Boosting Factors:
Growth in the pharmaceutical drug delivery market can largely be attributed to factors such as the rising prevalence of chronic diseases, growing biologics market, increasing R&D investments, and technological advancements & new product launches.
Projected Revenue Gains:
The global pharmaceutical drug delivery market is projected to reach USD 2,206.5 billion by 2026 from USD 1,656.9 billion in 2021, at a CAGR of 5.9% during the forecast period.
The topical drug delivery segment is expected to grow at the highest CAGR during the forecast period
Based on route of administration, the pharmaceutical drug delivery market is segmented into oral, pulmonary, injectable, ocular, nasal, topical, implantable, and transmucosal drug delivery. The topical drug delivery segment accounted for the highest CAGR of the pharmaceutical drug delivery market. This can be attributed to convenience and the ease of use, the ease of dosage, painless and non-invasive administration, and enhanced patient compliance.
The infectious diseases segment is expected to account for the largest share of the pharmaceutical drug delivery market
Based on application, the pharmaceutical drug delivery market is segmented into cancer, infectious diseases, cardiovascular diseases, diabetes, respiratory diseases, central nervous system disorders, autoimmune diseases, and other applications. In 2020, the infectious diseases segment accounted for the largest share of the pharmaceutical drug delivery market. The large share of this market segment can be attributed to the increasing prevalence of infectious diseases across the globe, increasing R&D expenditure for new drugs owing to the current COVID-19 pandemic scenario, and the rising number of FDA approvals for such drugs.
Asia Pacific is expected to account for the highest CAGR for players operating in the pharmaceutical drug delivery market
During the forecast period, the Asia Pacific is expected to be the fastest-growing regional market for pharmaceutical drug delivery. The rapid rise in the geriatric population, increased prevalence of chronic diseases, increased healthcare expenditure, increased R&D activities conducted in this region, growth in technological collaborations for pharmaceutical drug delivery technologies, favorable reimbursement policies, and growth in disposable incomes in the emerging Asian economies, such as China and India, are factors that are expected to drive the growth of the APAC market during the forecast period.
Global Leading Companies:
Major players in this market include Johnson & Johnson (US), Novartis International AG (Switzerland), F. Hoffmann-La Roche AG (Switzerland), Pfizer Inc. (US), Bayer AG (Germany), Antares Pharma, Inc. (US), Becton, Dickinson and Company (US), GlaxoSmithKline plc (UK), 3M (US), Merck & Co., Inc. (US), Sanofi (France), Amgen, Inc. (US), AbbVie Inc. (US), Genmab A/S (Denmark), Gilead Sciences, Inc. (US), Boehringer Ingelheim (Germany), AstraZeneca plc. (UK), Eli Lilly and Company (US), Teva Pharmaceuticals Industries Ltd. (Israel), Bristol-Myers Squibb (US), Gerresheimer AG (Germany), Boston Scientific Corporation (US), Nimbus Therapeutics (US), Kite Pharma (US), and IDEAYA Biosciences, Inc. (US).
