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Buccal Drug Delivery System Market 2024: Size, Growth, Key Trends, and Industry Analysis

Buccal Drug Delivery System Global Market Report 2024

Buccal Drug Delivery System Global Market Report 2024

The Business Research Company recently released a comprehensive report on the Global Buccal Drug Delivery System Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The buccal drug delivery system market size has grown rapidly in recent years. It will grow from $3.28 billion in 2023 to $3.64 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to early drug delivery innovations, pharmaceutical industry adoption, clinical studies and efficacy, market penetration strategies, disease-specific applications.

The buccal drug delivery system market size is expected to see rapid growth in the next few years. It will grow to $5.43 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to patient-centric drug delivery, rising geriatric population, demand for targeted therapies, biologics and peptides delivery, regulatory support and approvals, investments in r&d. Major trends in the forecast period include patient convenience and compliance, advancements in drug formulations, rise in chronic diseases, pediatric and geriatric care, enhanced bioavailability.

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Market Drivers and Trends:

The Increasing demand in hospitals is expected to propel the growth of the buccal drug delivery systems market going forward. A hospital is a specialized facility designed to provide medical treatment, care, and services to individuals who are sick or injured. Buccal drug delivery systems in hospital settings offer rapid drug absorption, improved patient compliance, reduce GI side effects, and provide a controlled release of drugs. For instance, in May 2023, according to a report published by the American Hospital Association (AHA), a US-based healthcare trade organization representing hospitals and health care networks, the total number of hospitals increased to 6,129, compared to 6,093 in 2022. Moreover, total admissions in all U.S. hospitals reached 34,011,386 compared to 33,356,853 in 2022. Therefore, the increasing demand in hospitals is driving the growth of the buccal drug delivery systems market.

Investments in injectable drug delivery systems are a key trend gaining popularity in the buccal drug delivery systems market. Major pharmaceutical companies are investing in drug delivery systems to sustain their position in the market. For instance, in September 2021, Novartis, a Switzerland-based pharmaceutical company, invested approximately $40 million in Credence MedSystems, a US-based company that develops innovative drug delivery systems. The aim of the investment is to boost the production of injectable drug delivery systems.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

Teva Pharmaceuticals Industries Ltd., Pfizer Incorporated, GlaxoSmithKline Public Limited Company, Indivior plc, Catalent Inc., Arx Limited Liability Company, BioDelivery Science International Incorporated, Cynapsus Therapeutics Incorporated, Endo Pharmaceuticals Public Limited Company, Medlab Clinical Ltd., AstraZeneca plc, F Hoffmann-La Roche Limited, Dr. Reddy's Laboratories Ltd., Takeda Pharmaceutical Company Limited, Novartis AG, Novo Nordisk A/S, Ethypharm SAS, Applied Pharma Research SA, Sunovion Pharmaceuticals Inc., Sanofi SA, Bayer AG, Adare Pharmaceuticals Inc., NAPP Pharmaceutical Ltd., Perrigo Company plc, Reckitt Benckiser Group plc, Teligent Pharma Inc., Par Pharmaceutical Companies Inc., Acorda Therapeutics Inc., Opiant Pharmaceuticals Inc.

Buccal Drug Delivery System Market 2024 Key Insights:

• The buccal drug delivery system market size is expected to see rapid growth in the next few years. It will grow to $5.43 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%.
• Rising Chronic Diseases Drives The Buccal Drug Delivery Systems Market
• Major Investments In Injectable Drug Delivery Systems Transforming The Buccal Drug Delivery Systems Market
• North America was the largest region in the buccal drug delivery systems market share in 2023

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Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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