The global pharmaceutical drug delivery market was valued at USD 2.2 billion in 2021 and it is anticipated to grow up to USD 3.3 billion by 2031, at a CAGR of 4.2% during the forecast period.
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The pharmaceutical drug delivery systems consist of various forms, including controlled-release and oral delivery systems. They can help maximize therapeutic efficacy by controlling drug pharmacokinetics, reducing toxicity, increasing accumulation at the target site, as well as improving patient compliance and acceptance.
Market Trends and Drivers
Rising prevalence of chronic conditions including kidney disease will foster the pharmaceutical drug delivery market trends during the forecast timeframe. As per the CDC, nearly 15% of U.S. adults have chronic kidney disease, which could boost the pharmaceutical application of targeted drug delivery through the use of nanomaterials for effective chronic disease treatment. Such factors, along with an increase in healthcare spending across the developing economies, will further generate opportunities for industry growth during the forecast timeline.
Major Players in the Global Pharmaceutical Drug Delivery Market
The key players in the market are Johnson & Johnson (US), Novartis International AG (Switzerland), F. Hoffmann-La Roche AG (Switzerland), Pfizer Inc. (US), Bayer AG (Germany), Antares Pharma, Inc. (US), Becton, Dickinson and Company (US), GlaxoSmithKline plc (UK), 3M (US), and Merck & Co., Inc. (US) among others
COVID-19 Impact
The impact of COVID-19 on the pharmaceutical drug delivery industry is observed to be positive. Due to the rapid spread of COVID-19 and increasing fear, drugs are being stocked by various end users and patients. This is expected to boost the growth of the pharmaceutical drug delivery market during 2020-2021. Various companies have witnessed an increase in revenue in the first quarter of 2020 as compared to the first quarter of 2019. For example, AbbVie reported an increase of 16.8% in its revenue in the first quarter of 2020 as compared to the first quarter of 2019. Similarly, Amgen Inc. recorded a revenue of USD 6,161 million in the first quarter of 2020, an 11% increase as compared to the first quarter of 2019 (USD 5,286 million). Raw materials required for manufacturing drugs, such as drug components and equipment used in manufacturing, are at the risk of a supply shortage due to the temporary lockdown of manufacturing sites in areas affected by COVID-19 or travel restrictions impacting shipments.
However, currently, the trading and export of raw materials has resumed back owing to the uplifting of lockdowns and resumed manufacturing and production of pharmaceutical companies. Companies around the world are suffering from event cancellations preventing pharmaceutical companies from introducing new products and services. Digitalization in the pharmaceutical world incorporated learning into future crisis plans and processes.
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Global Pharmaceutical Drug Delivery Market Segmentation
By Types of Delivery System
- Intrauterine implants
- Product implants
- Polymeric drug delivery
- Targeted drug delivery
- Others
By Application
- Infectious diseases
- Oncology
- Ophthalmology
- Urology
- Diabetes
- Central nervous system diseases
- Cardiovascular diseases
- Respiratory diseases
- Others
By Route of Administration
- Oral
- Injectable
- Inhalation
- Ocular
- Nasal
- Topical
- Others
By End-use
- Hospitals
- Clinics
- Homecare settings
- Ambulatory surgical centers
- Diagnostic centers
- Others
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