Pharmaceutical Drug Delivery Market - Emerging Trends to Feed the Global Revenue Growth

Posted June 30, 2022 by vmack2187

Drug delivery technologies improve the efficacy and safety of a drug by controlling the rate, time, and place of drug release in the body.
Growth Driving Factors:

Growth in the Pharmaceutical Drug Delivery 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.

Research Methodologies Follows for This Study:

Secondary Research:

This research study involved the use of widespread secondary sources; directories; databases, such as D&B, Bloomberg Business, and Factiva; white papers; annual reports; and companies’ house documents. Secondary research was used to identify and collect information for this extensive, technical, market-oriented, and commercial study of the pharmaceutical drug delivery market. It was also used to obtain important information about the top players, market classification, and segmentation according to industry trends to the bottom-most level, geographic markets, technology perspectives, and key developments related to the market. A database of the key industry leaders was also prepared using secondary research.

Primary Research:

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the pharmaceutical drug delivery market. Primary participants mainly include CEOs, consultants, subject-matter experts, SIU directors, claims processing personnel, general managers, and sales executives.

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Projected Revenue Surge:

The global pharmaceutical drug delivery market is projected to reach USD 2,206.5 billion by 2026 from USD 1,656.9 billion in 2021, at a CAGR of 5.9% during the forecast period.

Market Size Estimation:

The total size of the pharmaceutical drug delivery market was arrived at after data triangulation from different approaches, as mentioned below. After each approach, the weighted average of the approaches was taken based on the level of assumptions used in each approach.

Data Triangulation:

After arriving at the market size, the total market was divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable.

Recent Developments:

# In July 2021, Johnson & Johnson received FDA approval for DARZALEX (daratumumab), a subcutaneous formulation that reduces the treatment time for multiple myeloma indications.

# In December 2020, Pfizer, Inc. received FDA approval for BRAFTOVI (encorafenib) plus combination with cetuximab for the treatment of patients with brafv600e-mutant metastatic colorectal cancer (CRC) who have undergone prior therapy.

# In November 2020, GlaxoSmithKline plc partnered with IDEAYA to enter the field of Synthetic Lethality, an emerging field in oncology; programs MAT2A, Pol Theta, and Werner Helicase programs, which are part of it, are projected to reach clinical trials in the next three years.

Geographical Growth Dynamics:

North America will dominate the pharmaceutical drug delivery market from 2021–2026

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.

Key Market Players

The prominent players in this 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), Merck & Co., Inc. (US), Sanofi (France), Amgen, Inc. (US), AbbVie Inc. (US), Genmab A/S (Denmark), Gilead Sciences, Inc. (US), Boehringer Ingelheim (Germany), AstraZeneca plc. (UK), Eli Lilly and Company (US), Teva Pharmaceuticals Industries Ltd. (Israel), Bristol-Myers Squibb (US), Gerresheimer AG (Germany), Boston Scientific Corporation (US), Nimbus Therapeutics (US), Kite Pharma (US), and IDEAYA Biosciences, Inc. (US).

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags pharmaceutical drug delivery , pharmaceutical drug delivery market
Last Updated June 30, 2022