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Pharmaceutical Drug Delivery Market Segments 2024-2033 | Size, Share And Insights
Pharmaceutical Drug Delivery Market Segments
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According to The Business Research Company's, The pharmaceutical drug delivery market size has grown strongly in recent years. It will grow from $1711.47 billion in 2023 to $1816.05 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increase in prevalence of chronic diseases, growing demand for biologics, increase in r&d investments by pharmaceutical companies, rising demand for personalized medicine, increased focus on patient compliance.
The pharmaceutical drug delivery market size is expected to see strong growth in the next few years. It will grow to $2337.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to growing demand for self-administration of drugs, increasing adoption of home healthcare, growing demand for targeted drug delivery, increase in the number of elderly people, regulatory support for drug delivery technologies. Major trends in the forecast period include advancements in drug delivery technologies, telemedicine integration, 3d printing in drug delivery, targeted drug delivery systems, continuous manufacturing processes.
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Market Drivers and Trends:
The growing prevalence of chronic diseases is expected to propel the growth of the pharmaceutical drug delivery market going forward. Prevalence of chronic diseases refers to the total number of existing cases of chronic diseases in a population at a specific time. Pharmaceutical drug delivery helps the patients suffering from chronic diseases by delivering a pharmaceutical drug to a specific part of the body to treat different diseases. For instance, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, noncommunicable diseases kill 41 million people each year, equivalent to 71% of all deaths globally and cardiovascular diseases account for most of the deaths. Therefore, the growing prevalence of chronic diseases is driving the pharmaceutical drug delivery market growth.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
3M Company., AbbVie Inc., Amgen Inc., AstraZeneca plc, Bayer AG, Becton Dickinson And Company, C. H. Boehringer Sohn AG & Co. KG, Boston Scientific Corporation, Bristol-Myers Squibb Company, Consort Medical plc, Eli Lilly and Company, Emergent Biosolutions Inc., F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Johnson & Johnson, Kite Pharma Inc., Merck & Co Inc., Nemera France SAS, Nimbus Therapeutics LLC, Novartis AG, Pfizer Inc, Sanofi S. A., SHL Medical AG, Teva Pharmaceuticals Industries Ltd., West Pharmaceutical Services Inc., Aerogen Pharma Limited, AptarGroup Inc., Aquitive Therapeutics Inc., Biocon Ltd., Catalent Inc., Evonik Industries AG, Inovio Pharmaceuticals Inc., Mylan NV, Sanofi SA, Sensile Medical Inc., Unilife Corporation, Ypsomed Holding AG, Zosano Pharma Corp.
Pharmaceutical Drug Delivery Market 2024 Key Insights:
• The pharmaceutical drug delivery market size is expected to see strong growth in the next few years. It will grow to $2337.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Rising Prevalence Of Chronic Diseases Fuels Pharmaceutical Drug Delivery Market Growth Addressing Treatment Challenges
• Strategic Partnerships For Enhanced Brain Drug Delivery Innovations In Overcoming The Blood-Brain Barrier
• North America was the largest region in the pharmaceutical drug delivery market in 2023
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