Press release
Global Pharmaceutical Drug Delivery Market to Reach USD 3.3 Billion, with a 4.2% CAGR during the Forecast Period 2022-2031
Pharmaceutical Drug Delivery Market
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The pharmaceutical drug delivery systems consist of various forms, including controlled-release and oral delivery systems. They can help maximize therapeutic efficacy by controlling drug pharmacokinetics, reducing toxicity, increasing accumulation at the target site, as well as improving patient compliance and acceptance.
Market Trends and Drivers:
Rising prevalence of chronic conditions including kidney disease will foster the pharmaceutical drug delivery market trends during the forecast timeframe. As per the CDC, nearly 15% of U.S. adults have chronic kidney disease, which could boost the pharmaceutical application of targeted drug delivery through the use of nanomaterials for effective chronic disease treatment. Such factors, along with an increase in healthcare spending across the developing economies, will further generate opportunities for industry growth during the forecast timeline.
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COVID-19 Impact:
The impact of COVID-19 on the pharmaceutical drug delivery industry is observed to be positive. Due to the rapid spread of COVID-19 and increasing fear, drugs are being stocked by various end users and patients. This is expected to boost the growth of the pharmaceutical drug delivery market during 2020-2021. Various companies have witnessed an increase in revenue in the first quarter of 2020 as compared to the first quarter of 2019.
Global Pharmaceutical Drug Delivery Market Segmentation:
By Types of Delivery System:
• Intrauterine implants
• Product implants
• Polymeric drug delivery
• Targeted drug delivery
By Application:
• Infectious diseases
• Oncology
• Ophthalmology
• Urology
• Diabetes
• Central nervous system diseases
• Cardiovascular diseases
• Respiratory diseases
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By Route of Administration:
• Oral
• Injectable
• Inhalation
• Ocular
• Nasal
• Topical
By End-use:
• Hospitals
• Clinics
• Homecare settings
• Ambulatory surgical centers
• Diagnostic centers
Major Players in the Global Pharmaceutical Drug Delivery Market:
The key players in the market are 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), and Merck & Co., Inc. (US) among others
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