Pharmaceutical Drug Delivery Market Size to Surpass USD 2,047.36 Bn by 2030

 According to the global Pharmaceutical Drug Delivery market size was estimated at USD 1,476.19 billion in 2021 and is expected to surpass around USD 2,047.36 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 3.7% during the forecast period 2022 to 2030.

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Growth in the market can largely be attributed to factors such as the rising prevalence of chronic diseases, the growing biologics market, increasing investments in pharmaceutical R&D, and increasing technological advancements. The rising demand for biosimilars & biologics and self-administration & home care provides a wide range of growth opportunities for key players in the market.

On the other hand, the risk of needlestick injuries and the increased pricing pressure is expected to limit the market growth to some extent in the coming years. Further, the COVID-19 pandemic affected world economics, including the pharmaceutical sector. While currently there is no definitive treatment for this novel infectious disease, the pharmaceutical industry is assisting government bodies to address the COVID-19 unmet needs, from R&D actions on potential treatment and prevention strategies to balancing the medicines supply chain in the time of crisis.

Report Scope of the Pharmaceutical Drug Delivery Market

Pharmaceutical Drug Delivery Market Dynamics

Driver: Growth in biologics market

Recognizing the potential for biologics manufacturing, companies, such as Evonik (Germany), have made several strategic developments. For instance, the company increased its production capacity by acquiring SurModics in 2021, which focuses on controlled-release parenteral applications. In addition, Evonik acquired complementary technologies, such as Boehringer Ingelheim’s RESOMER platform, to improve its capability in this market. Similarly, in 2019, WuXi Biologics announced the launch of WuXi Vaccines, a joint venture with Shanghai Hile Bio-Technology Co., Ltd. The companies entered into the strategic partnership under which WuXi Vaccines will build a dedicated facility and supply a commercial product for the global market. The biopharmaceutical industry has witnessed the emergence of a new class of therapeutics, showing significant potential in new treatments in oncology, diabetes, and other disease areas.

Restraint: Risk of needlestick injuries

Needlestick injuries are one of the most serious health and safety threats:

• According to PharmaJet, in the US, around 600,000 to 800,000 needlestick injuries are reported every year.
• The Occupational Safety and Health Administration (OSHA) estimates that around 5.6 million workers in the US are at the risk of exposure to blood-borne pathogens due to needlestick injuries.
• Furthermore, the CDC estimates that an average of 385,000 needlestick injuries occur annually in US hospital settings.
• Similarly, in Europe, more than 1 million needlestick injuries are reported each year (Source: Becton, Dickinson and Company).

Opportunity: Rising demand for biosimilars and biologics

Biosimilars are more acceptable for the treatment of chronic diseases that are of a non-life-threatening nature. Moreover, biosimilars can drive the overall therapeutics market by allowing patients to access drugs at cheaper rates. The lower cost of manufacturing due to the use of modern manufacturing technologies for the development of biosimilars is a major factor that is expected to drive the growth of this market in the coming years. Also, an increasing number of companies are conducting clinical trials on biosimilars. For instance, Biocon Limited is involved in the clinical trials of various drugs, such as Insulin Glargine, Trastuzumab, Bevacizumab, Pegfilgrastim, and Adalimumab. Also, Amgen Inc. is conducting clinical trials for various biosimilars, such as rituximab, infliximab, centuximab, eculizumab, and trastuzumab. Some FDA-approved biosimilars include Zarxio (Sandoz), AMJEVITA (Amgen Inc.), and Erelzi (Sandoz). As of March 2020, there were about 79 programs enrolled in the Biosimilar Program Development (BPD) program.

Challenge : Pricing pressure

Government bodies in both developed and developing countries are encouraging cost-saving measures, such as cutting drug reimbursement prices and promoting the greater use of generics. Drug manufacturers across the globe are facing significant cost reduction pressures from government bodies, insurers, and patients. This downward pricing pressure is resulting in the greater uptake of drugs in emerging markets where the demand for low-cost therapeutics is high. However, this is affecting the profitability of several pharmaceutical companies. This trend is expected to continue in the coming years owing to the continuous pressure for reducing pharmaceutical prices by insurers, pharmacy benefit managers (PBMs), and public and private payers due to concerns about covering more new medicines to treat prevalent conditions, such as high cholesterol and diabetes.

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Region Insights

Geographically, the global market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for the largest share of the pharmaceutical drug delivery market in 2020. The high share of the North American market is attributed to the rising prevalence of chronic diseases, such as cancer, respiratory allergies, and diabetes; increasing patient compliance to innovative drug delivery technologies; and the presence of a large number of prominent players in this region.

Asia Pacific is estimated to be the most opportunistic market during the forecast period. This is attributed to the rising prevalence of various chronic diseases among the population owing to various factors such as physical inactivity, sedentary lifestyle, and unhealthy food habits. The rapidly growing biotechnology and rising demand for the biotechnology drugs in the region is spurring the demand for the pharmaceutical drug delivery. According to the World Health Organization, maximum number of deaths due to the chronic diseases is recorded in the low and middle income countries. Therefore, the rising accessibility to the healthcare facilities is prominently driving the market growth in this region.

Some of the prominent players in the Pharmaceutical Drug Delivery Market include:

• Bayer AG
• Becton, Dickinson And Company
• F. Hoffmann-La Roche AG
• GlaxoSmithKline Plc
• Johnson & Johnson
• Merck & Co., Inc.
• Novartis AG
• 3M Company
• Pfizer Inc.
• Sanofi

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Pharmaceutical Drug Delivery market

By Route of Administration

• Oral
• Ocular
• Pulmonary
• Nasal
• Injectable
• Topical
• Others

By Application

• Cardiovascular
• Diabetes
• Cancer
• Infectious Diseases
• Others

By End User

• Hospitals
• Ambulatory Services
• Home Healthcare

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Pharmaceutical Drug Delivery industry analysis from 2022 to 2030 to identify the prevailing Pharmaceutical Drug Delivery industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Pharmaceutical Drug Delivery industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Pharmaceutical Drug Delivery industry trends, key players, market segments, application areas, and market growth strategies.

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