by The pharmaceutical drug delivery market comprises products used for administering pharmaceutical compounds to achieve a therapeutic effect in humans. Drug delivery products help in protecting drugs from degradation, control release mechanisms for various routes of administration such as oral, topical, inhalation, transdermal, and injection, and enhance patient compliance. Advancements in novel drug delivery technologies allow for targeted drug delivery, controlled release of drugs, and delivery of drugs across biological barriers. The global pharmaceutical drug delivery market is estimated to be valued at US$ 2307.27 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Advancement in novel drug delivery technologies has propelled the growth of the pharmaceutical drug delivery market. Novel technologies have allowed development of targeted and controlled release drug delivery systems. For instance, nanotechnology has enabled development of nano-carriers for targeted delivery of drugs to tumor tissues, thus enhancing therapeutic outcomes while reducing systemic side effects. Microfabrication technologies have led to development of microchip-based drug delivery systems that can wirelessly control sequence, timing, and dosage of drug release. Novel polymer-based hydrogels are being researched for sustained and controlled delivery of drugs orally and via injection. Such advancements in drug delivery technologies have expanded therapeutic applications and driven the pharmaceutical drug delivery market growth.
SWOT Analysis
Strength: The pharmaceutical drug delivery market has high growth opportunities due to the rising investments in research and development of innovative drug delivery solutions.
Weakness: High capital requirements and stringent regulations for the drug delivery technologies pose challenges for market players.
Opportunity: Emerging economies offer lucrative opportunities for market expansion through their growing healthcare needs and increasing per capita healthcare spends.
Threats: Changing reimbursement policies and preference for generic drugs are key threats faced by innovator drugs and technologies in the market.
Key Takeaways
The Global Pharmaceutical Drug Delivery Market Size is expected to witness high growth.
Regional Analysis: North America currently dominates the market and is expected to continue its dominance over the forecast period owing to the presence of major players, high healthcare spending, and rapid adoption of innovative drug delivery technologies in the region.
Key players operating in the pharmaceutical drug delivery market are Thermo Fisher Scientific Inc., Corning Incorporated, Lonza Group Ltd., Avantor, Inc., Synthecon Incorporated, Bico Group, ReproCELL Incorporated, Becton, Dickinson, and Company, 3D Biotek, LLC, InSphero AG. Thermo Fisher Scientific leads the market and focuses on partnerships and acquisitions for strengthening its drug delivery product portfolio.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
