Pharmaceutical Drug Delivery Market - Emerging Advancements in Technologies
Posted by MV Mukund on May 12th, 2022
Drug delivery technologies improve the efficacy and safety of a drug by controlling the rate, time, and place of drug release in the body. This market is highly competitive and is witnessing rapid growth due to the development of numerous new routes of drug delivery.
The global pharmaceutical industry is research-intensive, with innovative firms spending on average about 15% of their sales on R&D. Also, the increasing R&D expenditure on early-stage development, as well as an increase in the number of potential drugs in the preclinical phase, is driving the demand for preclinical services among life science companies.
Major Growth Driving Factors:
Growth in the pharmaceutical drug delivery market can largely be attributed to factors such as the rising prevalence of chronic diseases, growing biologics market, increasing R&D investments, and technological advancements & new product launches.
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.
Global Industry Segmentation:
Based on route of administration, the pharmaceutical drug delivery market is segmented into oral, pulmonary, injectable, ocular, nasal, topical, implantable, and transmucosal drug delivery. In 2020, the oral drug delivery segment accounted for the largest share of the pharmaceutical drug delivery market. The large share of this market segment can be attributed to the convenience of drug administration via the oral route, patient preference, cost-effectiveness, and ease of large-scale manufacturing of oral dosage forms. Also, advancements in the oral drug delivery segment, such as more targeted drug delivery, extended-release, and reduced tablet sizes for ease of swallowing, are expected to boost the market growth further.
Based on application, the pharmaceutical drug delivery market is segmented into cancer, infectious diseases, cardiovascular diseases, diabetes, respiratory diseases, central nervous system disorders, autoimmune diseases, and other applications. In 2020, the infectious diseases segment accounted for the largest share of the pharmaceutical drug delivery market. The large share of this market segment can be attributed to the increasing prevalence of infectious diseases across the globe, increasing R&D expenditure for new drugs owing to the current COVID-19 pandemic scenario, and the rising number of FDA approvals for such drugs.
Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1085
On the basis of facility of use, the pharmaceutical drug delivery market is segmented into hospitals, ambulatory surgery centers (ASCs)/clinics, home care settings, diagnostic centers, and other facilities of use. In 2020, the hospital segment accounted for the largest share of the pharmaceutical drug delivery market. The large share of this market segment can be attributed to the rising number of inpatient and outpatient visits, growing requirement of large volumes of drugs and their respective delivery devices, increasing need for drug administration due to the rising prevalence of chronic diseases, and the increasing R&D being undertaken in the industry.
Geographical Growth Dynamics:
North America will dominate the pharmaceutical drug delivery market from 2021–2026
Geographically, the global pharmaceutical drug delivery 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.
Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=1085
