Report : Pharmaceutical Drug Delivery Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Route of Administration (Oral Drug Delivery, Injectable Drug Delivery, Topical Drug Delivery, Ocular Drug Delivery, Pulmonary Drug Delivery, Nasal Drug Delivery, Transmucosal Drug Delivery, Implantable Drug Delivery); Application (Infectious Diseases, Cancer, Cardiovascular Diseases, Diabetes, Respiratory. Diseases, Central Nervous System Disorders, Autoimmune Diseases, and Other Diseases); End User (Hospitals, Home Care Settings, ASC/Clinics, Other End Users), and Geography
Injectable Drug Delivery to Dominate Pharmaceutical Drug Delivery Market during 2020–2027
According to the latest study on “Pharmaceutical Drug Delivery to 2027 – Global Analysis and Forecasts by Route of Administration, Application, and End User,” the global pharmaceutical drug delivery was valued at US$ 1,403,082.9 million in 2019 and is projected to reach US$ 2,296,170.9 million by 2027; it is expected to grow at a CAGR of 6.6% during 2020–2027.The report provides trends prevailing in the global pharmaceutical drug delivery market along with the growth drivers and restraints pertaining to the market. The growing prevalence of infectious and chronic diseases, and increasing R&D spending on the drug delivery devices are the major factor driving the growth of the market. However, the high cost of drug delivery device development is restrains the growth of the market.
Based on the route of administration, the pharmaceutical drug delivery market 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 of 7.5% in the market during the forecast period. The growth of the market for topical drug delivery attributed to the engagement of several industrial players in the expansion of their manufacturing capacities with an aim to cope up with the increasing demand for topical solutions. For instance, in 2017, ProSolus offered custom manufacturing of transdermal and trans-mucosal drug delivery products to treat a variety of health conditions.
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).
The report segments global pharmaceutical drug delivery as follows:
By Route of Administration
By End User