The Global Pharmaceutical Drug Delivery Industry is on an impressive trajectory, with a remarkable compound annual growth rate (CAGR) of 6.4% during the forecast period. As of 2023, the market is valued at an astounding US$1.9 trillion, and experts predict it will surge to an estimated US$3.5 trillion by 2033.
This meteoric rise can be attributed to a critical surge in the demand for advanced pharmaceutical medication delivery systems, especially among the elderly and cancer patients. These systems have proven instrumental in enhancing the effectiveness of treatments while mitigating toxicity associated with anticancer drugs. Leading pharmaceutical development companies have contributed significantly to this market expansion, driven by escalating investments in research and development.
The focus of this research and development endeavor centers on discovering effective therapies for chronic and noncommunicable diseases like cancer, diabetes, and hypertension. Take, for instance, the notable case of Taris, a research & development-based biomedical company. Taris is advancing groundbreaking solutions, including their controlled-release drug delivery system, TAR-200 (Gemcitabine), specifically tailored for the treatment of bladder cancer.
The soaring growth of the pharmaceutical drug delivery market underscores the industry’s commitment to innovating and revolutionizing healthcare solutions, ultimately improving the quality of life for countless patients worldwide.
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In addition, Johnson & Johnson finalized the acquisition of Taris Biomedical in 2019. One of the primary motivations for the purchase is said to be its principal investigational medicine, TAR-200. The development of new goods with improved safety and usability is expected to attract the vast pharmaceutical industry. Furthermore, improved dosage characteristics complement pharmacological treatment outcomes and expand the possibility for illness management in home care settings.
For instance, Ypsomed announced YpsoMate in November 2021, claiming it to be the world’s first auto-injector for prefilled syringes with an integrated connection. It is suitable for self-administration. Moreover, industry participants are increasingly collaborating with pharmaceutical firms to develop and commercialize goods. KINDEVA DRUG DELIVERY, for instance, joined with Cambridge Healthcare Innovations Limited (CHI) in April 2021 to develop and market CHI’s eolus dry-powder inhaler (DPI) platform technology. Topical pharmaceutical drug delivery entails drug transfer from a product on the skin to a local target location, followed by clearance to the rest of the body and deeper tissues via diffusion, metabolism, and dermal circulation.
According to statistics published in the World Health Organization’s Global Health Expenditure Database in 2016, the average per capita public spending on health in middle-income countries has more than doubled since 2000, as these nations progress in their transition to domestic funding. Global health spending in 2016 was US$ 7.50 trillion, which equates to 10.0% of the global GDP. The increased execution of strategic initiatives and the creation of unique goods are the primary drivers driving the segment’s growth. In March 2021, for example, scientists at Stanford University and the University of North Carolina at Chapel Hill (UNC) developed a 3D-printed vaccination patch that they claim gives better protection than a standard vaccine injection. The creation of such unique goods is fueling the use of medication delivery products, which is boosting the market growth.
However, various regulatory approval techniques are used for highly sophisticated items. The severe rules imposed by regulatory organizations to evaluate product performance and safety are projected to hinder the introduction of technologically sophisticated and novel items throughout the forecast period.
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Key Takeaways:
- The United States is expected to dominate the global pharmaceutical medication delivery market during the forecast period. Obesity rates in the United States are rising owing to rapid changes in lifestyle, resulting in a slew of chronic ailments such as diabetes and heart disease. Nanotechnology advances have significantly improved drug design, enabling focused, safe, and effective medicinal formulations including nanoparticles (NP).
- Throughout the estimated period, China is expected to lead the Asia Pacific pharmaceutical drug delivery market. The growing prevalence of chronic diseases in China has increased the use of medication delivery systems, particularly disposable needles. The International Diabetes Federation’s Diabetes Atlas 2021 predicts that the age-adjusted comparative prevalence of diabetes in China in 2021 is expected to be 10.6%, 11.8% in 2030, and 12.5% in 2045.
- Owing to the simplicity of consumption, the ‘oral drug delivery’ route of administration type is expected to hold the greatest revenue, through the forecast period.
- As the majority of income earned by biotech and pharmaceutical businesses offers resources to the healthcare industry, the ‘infectious diseases application type is the most creative segment for key companies, accounting for a sizable portion.
Key Players:
- Novartis International AG
- Hoffmann-La Roche AG
- Pfizer Inc.
- Becton Dickinson & Company
- GlaxoSmithKline PLC
- Merck & Co Inc
- Sanofi S.A.
- Bayer Medicine Products AG
- 3M
Recent Developments:
- In December 2020, Pfizer, Inc. received United States FDA clearance for BRAFTOVI (encorafenib) with cetuximab to treat patients with brafv600e-mutant metastatic colorectal cancer who have previously undergone therapy (CRC).
- In July 2021, the United States Food and Drug Administration approved Darzalex, a subcutaneous solution developed by Johnson & Johnson.
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Key Segments Profiled
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
By Application:
- Infectious Diseases
- Cancer
- Cardiovascular Diseases
- Diabetes
- Respiratory Diseases
- Central Nervous System Disorders
- Autoimmune Diseases
- Others
By Facility of Use:
- Hospitals
- Ambulatory Surgery Centers/Clinics
- Home Care Settings
- Diagnostic Centers
- Others
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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