The global drug delivery solutions market size was valued at US$ 94.3 Bn in 2021 and is projected to reach US$ 181.9 Bn by the end of 2031, exhibiting growth at 6.8% CAGR between 2021 and 2031.
Expansion of healthcare industry and need for solutions to control the loss in financials caused due to counterfeiting practices is propelling the demand in the Drug Delivery Solutions Market, finds Future Market Insights.
As per the study, the healthcare industry witnessed a major decline over the past few years as pharmaceutical products are recalled for various quality errors arising out of complex supply chain issues.
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Hence, pharmaceutical product manufacturers are increasingly facing the challenge of maintaining cost levels while investing in advance solutions such as anti-counterfeit and track and trace technologies.
Subsequently, key players are continuously innovating their product development activities to come up with solutions that allow pharmaceutical manufacturers to save cost while also deliver value to consumers and end-users.
Solutions such as embedding repeated watermarks in flexible composite structures or multi-layer rigid packaging formats allow manufacturers to prevent anti-counterfeiting of pharmaceutical products.
Anti-counterfeit technology embedded in packaging maintains the integrity of packaging as well as pharmaceutical products throughout complex supply chains. Hence, manufacturers in pharmaceutical industry are increasingly demanding packaging solutions that have a cost-effective anti-counterfeit solutions.
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Temperature and Moisture Control Pharmaceutical Packaging to Assert Dominance
Biopharmaceutical industry faced losses of approximately US$ 35 billion due to temperature abuse in 2019. To maintain the stability and extend shelf-life of pharmaceutical products, extremely protective and active packaging are introduced by manufacturers.
High-quality, temperature and odor controlled, stabilizers, and moisture scavenging packaging is gaining immense popularity among pharmaceutical and healthcare solution providers. Manufacturing of embedded pharmaceutical packaging formats such as vials and ampoules, prefilled syringe and cartridges among others are expected to increase the demand for drug delivery solutions.
Key Takeaways
- In terms of product, bottles segment is expected to hold over 2/5th of the global market share in 2021.
- Vials and ampoules are expected to exhibit growth at a CAGR of 9.3% during the forecast period.
- Based on material, metal drug delivery solutions are expected to increase by 2.1x during assessment period.
- Injectable application is expected to generate incremental opportunity of US$ 30.8 Bn during the projection period of 2021-2031.
- Regionally, Europe is expected to account for over 24% of the total market value in 2021.
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Drug Delivery Solutions Market By Category
By Product Type:
- Bottles
- Packer Bottles
- Liquid Bottles
- Vials & Ampoules
- Blisters
- Bags & Pouches
- Prefilled Syringes & Cartridges
- Sachets
- Trays
- Tubes
- Caps & Closures
- Container, Jars & Others
By Material:
- Plastics
- PE
- LDPE
- HDPE
- PVC
- PP
- PS
- PET
- Others
- Glass
- Metal
- Paper
By Applications:
- Nasal
- Pulmonary
- Injectable
- Eye Care
- Dermal/ Transdermal
- Other Applications
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