Global Pharmaceutical Drug Delivery Industry 2021-2027 Analysis By Whipsmartmi

Pharmaceutical Drug Delivery Market is projected to grow up to USD 2,213.4 billion by 2027 growing at a CAGR of 4.8% during the forecasting period 2021-2027.

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Drug delivery systems are devices that are mainly used to deliver therapeutic agents in a managed or tailored manner to treat or enhance the health of patients. Drug delivery systems are medical devices that allow drugs or chemicals to be injected directly into the body. Trans mucosal, gastrointestinal, respiratory, injectable, topical, nasal, implantable, and ocular are some of the drug delivery systems on the market.

The way drugs are delivered has changed drastically in recent years, and it is expected to change even further in the coming years. The manner in which prescription drugs are administered has a significant impact on their efficacy. As a result, various types of delivery systems for a variety of drugs must be created, depending on their components. It has become possible to better monitor the pharmacokinetics, pharmacodynamics, toxicity, immunogenicity, and effectiveness of drugs by incorporating a broad variety of DDSs, or drug delivery systems.

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Key Driving Factors: Development in the biologics industry is one of the key factors.

Biologics are the fastest-growing segment of the pharmaceutical industry, according to the American Journal of Controlled Health Care. According to a study released by the Congressional Research Service, spending on biologics in the United States rose by 13% to hit USD 105.5 billion. According to an article in The Economist, more than 900 biologics are being developed in the United States for the treatment of more than 100 diseases. Biologics is projected to account for approximately 22% of major pharmaceutical companies' revenues, and this figure is expected to rise to 32% by 2023. Since biologics are primarily delivered by injection, the biologics industry is expected to drive the injectable drug delivery market in the coming years. According to the Pharmaceutical Research and Manufacturers of America (formerly the Pharmaceutical Manufacturers Association), there are 17 biosimilars on the market in the United States as of June 2020, compared to seven reference biologics.

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This report offers the major market player’s profiles, such as Hoffman-La Roche, Bayer AG, Pfizer, GlaxoSmithKline plc, Inc., Novartis AG, 3M Company, Becton, Dickinson and Company, Sanofi, Merck & Co., Inc., Antares Pharma, Inc., AbbVie, Amgen, Johnson & Johnson, Inc, AstraZeneca, Eli Lilly and Company, Gilead Sciences, Inc., Teva Pharmaceuticals, Boehringer Ingelheim, Bristol-Myers Squibb, and Genmab A/S.

Opportunities: Growing demand for biosimilars poses an opportunity.

Biosimilars are more widely accepted for the treatment of non-life-threatening chronic diseases. Furthermore, biosimilars have the ability to drive the overall therapeutics market by encouraging patients to receive medicines at a lower cost. The use of new manufacturing technology for the production of biosimilars has resulted in lower manufacturing costs, which is expected to fuel the market's growth in the coming years. In addition, a growing number of companies are performing biosimilar clinical trials. Biocon, for example, is working on clinical trials for drugs like Insulin Glargine, Trastuzumab, Bevacizumab, Pegfilgrastim, and Adalimumab.

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By Route of Administration:

Intestinal, pulmonary, injectable, ocular, nasal, topical, implantable, and transmucosal drug delivery are the different routes of administration in the prescription drug delivery industry. During the forecast era, the topical drug delivery market is projected to expand at the fastest rate. The wide range of benefits associated with this route of administration, including convenience and ease of use, right dose to the right spot, painless and noninvasive delivery, superior spreadability, and improved patient compliance, are driving growth in this segment.

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