Pharmaceutical Drug Delivery Market: Growing Prevalence of Infectious and Chronic Diseases
The pharmaceutical drug delivery market is expected to reach US$ 2,296,170.9 Mn in 2027 from US$ 1,403,082.9 Mn in 2019. The market is estimated to grow at a CAGR of 6.6% during 2020–2027.
Drug delivery systems are the technologies primarily used for the controlled or targeted delivery of various therapeutic agents to treat various diseases or improve the health of the patients. Drug delivery systems are medical devices used to inject drugs or chemicals into the body. Some of the drug delivery systems available in the market include transmucosal, oral, pulmonary, injectable, topical, nasal, implantable, and ocular.
The players operating in the pharmaceutical drug delivery market adopt the strategy of expansion to enlarge customer base across the world; they also implement the strategies of collaborations and product launches. These strategies permit them to maintain their brand name globally. For instance, in May 2018, GlaxoSmithKline plc received an FDA approval for the use of Arnuity Ellipta (fluticasone furoate) for the maintenance treatment of asthma in children below 5 years. It is a once-daily inhaled corticosteroid (ICS) medicine.
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Key Findings from The pharmaceutical drug delivery Market
The pharmaceutical drug delivery market, by route of administration, is segmented into oral drug delivery, injectable drug delivery, topical drug delivery, ocular drug delivery, pulmonary drug delivery, nasal drug delivery, transmucosal drug delivery, and implantable drug delivery.
The injectable drug delivery segment held the largest share of the market in 2019. However, the topical drug delivery segment is anticipated to register the highest CAGR in the market during the forecast period.
On the basis of applications, the pharmaceutical drug delivery market has been segmented into infectious diseases, cancer, cardiovascular diseases, diabetes, respiratory diseases, central nervous system disorders, autoimmune diseases, and other diseases. The cancer segment held the largest share of the market in 2019; however, the infectious diseases segment is estimated to register the highest CAGR during the forecast period.
On the basis of end user, the pharmaceutical drug delivery market has been segmented into hospitals, home care settings, ASC/clinics, and other end users. The hospitals segment held the largest share of the market in 2019, whereas the home care settings segment is estimated to register the highest CAGR during 2020–2027.
Pfizer Inc., Bayer AG, Johnson & Johnson Services, Inc., Novartis AG, 3M, Becton, Dickinson and Company, Sanofi S.A., Merck Group, GlaxoSmithKline plc., and Antares Pharma are among the key players operating in the pharmaceutical drug delivery market. The companies are focused on following organic strategies such as product launches and business expansions to sustain their position in the dynamic market. In May 2020, the Janssen Pharmaceutical Companies of Johnson & Johnson received the US Food and Drug Administration (FDA) approval for IMBRUVICA (ibrutinib) in combination with rituximab for the treatment of patients with chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL).
Growing Prevalence of Infectious and Chronic Diseases
The prevalence of infectious disease, especially bacterial diseases, is increasing continuously around the globe. According to a study published by American Society for Microbiology in 2019, the world reports ~1.5–4.5 million infections are caused by Carbapenem-resistant Enterobacteriaceae every year. Additionally, this group of bacteria also leads to the hospitalization of ~49,000 people in the US each year. Moreover, according to a study published by UNICEF, in 2018, pneumonia caused ~1,755,000 deaths of children with age <5; also, ~1,200,000 children in the word lost their lives by diarrhea. Such exponentially growing prevalence of infectious diseases drives the consumption of drugs, which eventually drives the pharmaceutical drug delivery market growth.
Among chronic conditions, cancer and diabetes are the leading cause of mortality worldwide. For instance, according to a study conducted by the American Cancer Society (ACS), the US reported ~1,735,350 new cancer cases in 2018. Further, according to the International Diabetes Federation (IDF), ~46 million Americans were suffering from diabetes in 2017, and this number is expected to reach 62 million by 2045. It has also mentioned that ~425 million people worldwide were living with diabetes in 2017, and the number is expected to reach 629 million by 2045.
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