IMARC Group, a leading market research company, has recently releases report titled “Pharmaceutical Drug Delivery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The global pharmaceutical drug delivery market size reached US$ 1,325 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,848 Billion by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.
Industry Overview of Pharmaceutical Drug Delivery
Pharmaceutical drug delivery is a process of administering medications to patients in a targeted and efficient manner. It comprises a wide range of technologies and approaches, such as oral tablets, injections, transdermal patches, and inhalation devices. It can control the release rate and distribution of medications within the body and ensures that therapeutic agents reach their intended target with precision. It can make medications more effective, convenient, and safe for patients. It ensures that drugs are delivered to the right location within the body at the right time. It allows for the customization of treatment plans based on individual patient characteristics. It optimizes the pharmacokinetics of drugs, improves patient compliance, and provides solutions for the challenges associated with traditional drug delivery methods. It provides cost-effective solutions while maintaining high-quality care for patients. It assists in offering solutions for delivering a wide range of therapeutic agents, including small molecules, biologics, and gene therapies. It aids in minimizing potential side effects and adverse reactions and improving the safety profile of drugs. Besides this, it is beneficial in minimizing the exposure of non-target tissues and organs to medications. As it encourages innovation in drug development by expanding the possibilities for formulating and delivering therapeutic agents, the demand for pharmaceutical drug delivery is increasing around the world.
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What are the growth prospects and trends in the pharmaceutical drug delivery industry?
The rising prevalence of chronic diseases like diabetes, cardiovascular conditions, and cancer among the masses currently represents one of the primary factors impelling the market growth. In line with this, the escalating demand for pharmaceutical drug delivery systems, as they can be tailored for long-term disease management and prevention, such as insulin pumps, for diabetes or sustained-release formulations for chronic conditions is positively influencing the market.
Additionally, increasing preferences for personalized, convenient, and non-invasive routes of administration of drugs among individuals is supporting the growth of the market. Apart from this, there is a rise in the need for advanced drug delivery methods that are capable of effectively delivering biologics and gene therapies to patients. This, coupled with increasing preferences for drug delivery systems that enhance patient convenience and reduce the need for frequent dosing, is strengthening the market growth.
Besides this, innovations in drug delivery technologies, such as nanotechnology and smart drug delivery devices, to provide enhanced experience to individuals are propelling the market growth. In addition, the rising focus on patient-centric approaches in healthcare facilities is bolstering the growth of the market. Furthermore, the growing demand for more effective drug delivery systems among the geriatric population, as they often face challenges with medication adherence, is offering a positive market outlook.
Moreover, the increasing development of new drug formulations, including liposomal and nanoparticle-based formulations, is offering lucrative growth opportunities to industry investors.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Route of Administration:
- Oral Drug Delivery
- Injectable Drug Delivery
- Topical Drug Delivery
- Ocular Drug Delivery
- Pulmonary Drug Delivery
- Implantable Drug Delivery
- Transmucosal Drug Delivery
- Nasal Drug Delivery
Breakup by Application:
- Infectious Diseases
- Cancer
- Cardiovascular Diseases
- Diabetes
- Respiratory Diseases
- Central Nervous System Disorders
- Autoimmune Diseases
- Others
Breakup by End User:
- Hospitals
- Ambulatory Surgery Centers
- Home Care Settings
- Diagnostic Centers
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- AbbVie Inc.
- Amgen Inc.
- AstraZeneca plc
- Becton Dickinson and Company
- Eli Lilly and Company
- GSK plc
- Johnson & Johnson
- Merck KGaA
- Novartis AG
- Pfizer Inc.
- Sanofi S.A.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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