The global pharmaceutical drug delivery market is expected to reach USD 2.21 Billion by 2027, according to a new report by Reports and Data.
The global pharmaceutical drug delivery market is expected to reach USD 2.21 Billion by 2027, according to a new report by Reports and Data. Pharmaceutical drug delivery is the introduction of drugs into the body through various administration routes with its own merits and demerits. The effectiveness of a drug may substantially be influenced by way of its delivery. The development of various kinds of drug delivery systems (DDSs) has enabled improved control of toxicity, immunogenicity, pharmacodynamics, pharmacokinetics, and drug effectiveness.
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Growing prevalence of target conditions such as cancer, diabetes, cardiovascular diseases, respiratory diseases, and infectious diseases, among others, is a significant factor driving market growth. Cancer has a significant impact on society in the US and across the globe. It has been estimated that 1,735,350 new cancer cases were diagnosed in the US, and 609,640 people suffered death from the disease. The number of further incidences of cancer is 439.2 per 100,000 men and women annually, and the number of cancer-related morbidities is 163.5 per 100,000 men and women annually. Moreover, it has been estimated that in 2017, 15,270 children and adolescents in the age range of 0-19 years were diagnosed with cancer, out of which 1,790 suffered death owing to the disease. In the year 2017, an estimated USD 147.30 billion was spent on cancer care in the US. The growing prevalence of cancer would lead to increasing demand for chemotherapy, thereby boosting the market demand.
Rise in the geriatric population is one of the significant factors influencing the market growth. Various kinds of health complications occur due to weaker immunity, reduced cellular regeneration, and a decrease in movement as compared to younger people. It has been projected that by the year 2050 approximately 16.0% of the global population will be aged more than 65 years, which expected to increase fivefold since 1950.
Further key findings from the report suggest
- By route of administration, oral pharmaceutical drug delivery held the largest market share in 2019 and is the most favored drug administration route attributed to its ease-of-use, cost-effectiveness, non-invasiveness, and its ability to be easily absorbed by the GI tract.
- By application, cardiovascular diseases held a significant market share in 2019. Cardiovascular diseases (CVDs) are the foremost reason of mortality across the globe, accounting for around 17.9 million deaths annually. This disease comprises cerebrovascular disease, coronary heart disease, and rheumatic heart disease, among others, and is more prevalent in the elderly population.
- The market in the Asia Pacific region is projected to witness the fastest CAGR of 8.3% in the forecast period, due to the improving healthcare infrastructure, rising investments in diagnostic imaging, and better reimbursement scenario.
- In February 2020, BD made an announcement about the accomplishment of its BD Libertas Wearable Injector (a drug delivery system employing subcutaneous route of administration) on a human clinical trial of 50-subject.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
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Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Hoffmann-La Roche Ltd., Bayer AG, GlaxoSmithKline, PLC, Becton, Dickinson and Company, Novartis AG, Antares Pharma Inc., Pfizers Inc., Johnson & Johnson Services Inc., Merck & Co. Inc., and Amgen, among others.
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Pharmaceutical Drug Delivery Market Segmentation:
Route of Administration Outlook (Revenue, USD Million; 2017-2027)
- Oral
- Injectable
- Pulmonary
- Topical
- Nasal
- Others
Application Outlook (Revenue, USD Million; 2017-2027)
- Cardiovascular Diseases
- Infectious Diseases
- Respiratory Diseases
- Cancer
- Diabetes
- Others
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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