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Pharmaceutical Drug Delivery Market Expected to Reach $2307.3 Billion by 2032—Allied Market Research

 
2022
Pharmaceutical Drug Delivery Market

Report Code : A06102

quote Rise in prevalence of various chronic diseases such as cancer, diabetes, and respiratory diseases, increase in adoption of advanced drug delivery, and surge in need for personalized medicine drive the growth of pharmaceutical drug delivery market. quote

Onkar Sumant - Manager
Life Sciences at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Pharmaceutical Drug Delivery Market," The pharmaceutical drug delivery market size valued at $1,498.72 billion in 2022, and is estimated to reach $2307.27 billion by 2032, growing at a CAGR of 4.4% from 2023 to 2032. Various drug delivery approaches include oral formulation, injectable formulation, transdermal patches, inhalation products, and targeted delivery products. Drug delivery improve patient compliance by offering convenient administration methods, simplified dosing regimens, and user-friendly devices.

The major pharmaceutical drug delivery market trends include increase in demand for drug delivery products, rise in prevalence of various chronic diseases, such as diabetes and respiratory diseases, and technological advancement in pharmaceutical drug delivery. Chronic diseases are long-term conditions that progress slowly and require ongoing medical management. The surge in prevalence of chronic diseases creates a higher demand for effective treatment options. For instance, in July 2022, Diabetes research and Clinical Practice Journal, reported that transdermal drug delivery (TDDS) is widely used in type 2 diabetes management.

Furthermore, chronic disease treatments involve complex dosing regimens and the need for sustained therapeutic drug levels. Therefore, drug delivery systems can be designed to provide controlled or sustained release of medications, ensuring optimal drug concentrations in the body over an extended period. Furthermore, the pharmaceutical drug delivery market size has experienced significant growth due to an increase in demand for biologics and targeted therapies.

In addition, rise in prevalence of ageing population also contribute towards the growth of pharmaceutical drug delivery market. Aging population requires specialized drug delivery due to various factors such as difficulties in swallowing tablets or capsules. This has led to the development of alternative delivery methods such as transdermal patches and injectable formulations. The rapid advancements in biotechnology have enabled the discovery and development of a wide range of biologic drugs. These drugs offer novel treatment options for various diseases, including cancer, autoimmune disorders, and rare genetic conditions. Biologics often require specialized drug delivery systems to ensure optimal efficacy, stability, and targeted delivery to the intended site of action.

In addition, patient-centric care has fueled the development of patient-friendly drug delivery technologies such as transdermal patches, inhalers, and injectable devices that are convenient and easy to use. These systems, such as nanoparticles or liposomes, enable precise drug delivery to specific cells or tissues. Thus, the surge in focus on patient-centric care has generated demand for innovative drug delivery that enhance patient experience and act as a catalyst for the growth of pharmaceutical drug delivery market Forecast.  

However, the high cost of development and manufacturing of innovative drug delivery systems restrains the pharmaceutical drug delivery market growth. Extensive R&D efforts and specialized manufacturing facilities and expertise contribute to high costs. These high costs can limit the entry of smaller players into the market and hinder the development and commercialization of novel drug delivery technologies. Furthermore, complex regulatory processes and stringent requirements for product approval can delay the launch of new drug delivery technologies, negatively impacting market growth.  

The market is segmented on the basis of route of administration, application, and region. On the basis of route of administration, the pharmaceutical drug delivery market analysis is classified into oral drug delivery, nasal drug delivery, ocular drug delivery, topical drug delivery, and other drug delivery. As per application, the market is segmented into cancer, diabetes, cardiovascular diseases, and others.  

Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

On the basis of route of administration, the others segment accounted for largest pharmaceutical drug delivery market share in 2022. This is attributed to the increase in use of injectable drug delivery system. However, oral drug delivery is expected to register a fastest CAGR during the forecast period, owing to increase in demand for oral medications.  

Depending on application, the others segment accounted for the largest pharmaceutical drug delivery market share in 2022 and is expected to be the fastest growing segment during the forecast period. This is attributed to a rise in prevalence of respiratory diseases. 

Region wise, North America had the highest pharmaceutical drug delivery market share in 2022, and is expected to maintain its lead during the forecast period owing to increase in prevalence of chronic diseases, rise in adoption of drug delivery systems, easy accessibility of medications, and strong presence of market key players. However, Asia-Pacific is expected to exhibit the fastest growth during the forecast period, owing to rise in demand for advanced drug delivery systems, increase in prevalence of age-related disorders, and development in pharmaceutical industry. 

Key Findings of The Study  

  • By route of administration, other drug delivery segment dominated the pharmaceutical drug delivery industry in 2022.  
  • On the basis of application, others segment dominated the pharmaceutical drug delivery industry in 2022.  
  • By region, the North America segment dominated the market in 2022. However, Asia-Pacific is the fastest growing segment during the forecast period with CAGR of 5.1% 
 

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quote Pharmaceutical Drug Delivery Market by Route of Administration (Oral drug delivery, Nasal drug delivery, Ocular drug delivery, Topical drug delivery, Other drug delivery), by Application (Cancer, Diabetes, Cardiovascular Diseases, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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