Ottawa, Jan. 11, 2022 (GLOBE NEWSWIRE) -- The global pharmaceutical drug delivery market size was reached at US$ 1,476.19 billion in 2021. The global pharmaceutical drug delivery market is primarily driven by the growing burden of various chronic diseases such as diabetes, cancer, and cardiovascular diseases among the population. The rapidly growing biopharmaceuticals industry encouraged the development of several innovative pharmaceutical drugs that can effectively treat various non-communicable diseases. The rapidly growing diabetic population is augmenting the demand for the pharmaceutical drug delivery solutions as the diabetic patients need regular administration of insulin to manage their blood glucose levels.
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The growing popularity and adoption of the needle-free injectors, self-injectors, auto-injectors, and pen-injectors has enabled the patients to conveniently administer drugs from the convenience of their home, eliminating the medical assistance. Moreover, the rising investments by the top market players in the research and development and clinical trials of the pharmaceutical drug delivery solutions are spurring the market growth. Furthermore, the proliferation of technologies has offered easy to use and convenient administration of drugs through various roots, which is significantly driving the pharmaceutical drug delivery market, globally.
Report Scope of the Pharmaceutical Drug Delivery Market
| Report Highlights | Details | |
| Market Size in 2021 | US$ 1,476.19 billion | |
| CAGR From 2021 to 2030 | 3.7 | % |
| Regional Largest Share Holder | North America | |
| Base Year | 2021 | |
| Forecast Period | 2021 to 2030 | |
| Companies Covered | Bayer AG, Becton, Dickinson And Company, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, Johnson & Johnson, Merck & Co., Inc., Novartis AG, 3M Company, Pfizer Inc., Sanofi | |
Regional Snapshot
North America dominated the global pharmaceutical drug delivery market in 2020. The increased prevalence of various chronic diseases among the US population coupled with increased healthcare expenditure has fostered the market growth in the region. It is estimated that around 60% of the US population is suffering from one or more chronic diseases. The increased government investments and the favorable regulatory framework are fueling the growth of the biopharmaceutical industry in the region, which is a major reason behind the growth of the pharmaceutical drug delivery market in North America.
Asia Pacific is estimated to be the most opportunistic market during the forecast period. The presence of few top biotechnology companies in the nations like South Korea, India, and China is augmenting the market growth. The presence of huge population and growing burden of chronic diseases like CVDs, cancer, respiratory disorders, and diabetes among the population is a major factor that propels the market growth in Asia Pacific. The rising adoption of the personalized medicines in the region is expected to have a positive impact on the market growth.
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Market Dynamics
Driver
Growing burden of chronic diseases
According to the International Agency for Research on Cancer, in 2020, around 19.3 million new cancer cases and 10 million cancer deaths were reported across the globe. The global cancer cases are estimated to grow by 47% from 2020 to 2040. It is expected that 28.4 million cases will be recorded in 2040, globally. According to the World Health Organization, the cardiovascular diseases results in around 17.9 million or 32% of the global deaths and it is a leading cause of death across the globe. As per the International Diabetes Federation, the global diabetic population is estimated to reach at 783 million by 2045. Therefore, the rapidly rising burden of various non-communicable diseases is expected to drive the demand for the pharmaceutical drug delivery solutions in the forthcoming years.
Restraints
Risks of needle stick injuries may hamper the market growth
With the growing demand for the pharmaceutical drug delivery solution, the risks of getting needle stick injuries are also growing. According to the US CDC, around 385,000 needle stick injuries occur annually in US. Therefore, the rising number of such injuries may hinder the market growth during the forecast period.
Opportunities
Growing adoption of homecare and self-administration of drugs
The proliferation of the advanced technologies has enabled the patients to self-administer the drugs by eliminating the assistance of healthcare professionals. This saves time and cost of the patients. The diabetic population has higher demand as they regularly needs insulin injections and the pen injectors, needle free injectors, and auto-injectors are trending in the market.
Challenges
Government regulations on pricing
The government authorities across the developing and developed nations are promoting cost-cutting measures and encouraging the use of generics. The manufacturers of the pharmaceutical drug delivery solutions are facing pressure to reduce the cost of the solutions.
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Report Highlights
- Based on the route of administration, the topical segment is estimated to be the most opportunistic market during the forecast period. This is attributed to the several benefits associated with the topical route of administration such as non-invasiveness, ease of use, convenience, and painless drug delivery.
- Based on the application, the cancer segment dominated the global pharmaceutical drug delivery market, due to the rising prevalence of cancer among the global population. According to the International Agency for Research on Cancer, in 2020, around 19.3 million new cancer cases and 10 million cancer deaths were reported across the globe. The global cancer cases are estimated to grow by 47% from 2020 to 2040. It is expected that 28.4 million cases will be recorded in 2040, globally.
- Based on the end user, the home healthcare segment is expected to be the most opportunistic segment owing to the growing geriatric population, rising disposable income, and rising awareness regarding the hospital acquired infections.
Segments Covered in the Report
By Route of Administration
- Oral
- Ocular
- Pulmonary
- Nasal
- Injectable
- Topical
- Others
By Application
- Cardiovascular
- Diabetes
- Cancer
- Infectious Diseases
- Others
By End User
- Hospitals
- Ambulatory Services
- Home Healthcare
By Geography
- North America
- Europe
- Asia Pacific
- MEA
- Rest of the World
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