Pharmaceutical drug delivery market was valued at $1,200 billion in 2018, and is expected to reach $1,733 billion by 2026, registering a CAGR of 4.7% from 2019 to 2026.
Pharmaceutical drug delivery (DDS) systems are defined as drug formulations, which are responsible for controlling the administration of medications with the aid of a chemical or a physiological trigger, thereby delivering medications to specially targeted parts of a patient’s body. Moreover, these systems are used to enhance drug absorption, efficacy, and patient experience. In addition, DDSs provide protection against the biochemical degradation of pharmaceutical agents.
List of Key Players
The global pharmaceutical drug delivery market is highly competitive, owing to presence of prominent players in the market. These players have adopted various strategies to garner maximum market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market are Bayer AG, Becton, Dickinson And Company, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, Johnson & Johnson, Merck & Co., Inc., Novartis AG, 3M Company, Pfizer Inc., and Sanofi.
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The global pharmaceutical drug delivery market size is studied on the basis of route of administration, application, and region to provide a detailed assessment of the market. Depending on route of administration, the market is segmented into oral drug delivery system, pulmonary drug delivery, ocular drug delivery systems, nasal drug delivery system, ocular drug delivery, topical drug delivery, and others. The applications covered in the study include cancer, diabetes, respiratory diseases, cardiovascular diseases, and others. Region wise, the pharmaceutical drug delivery market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and rest of LAMEA).
According to route of administration, the others segment occupied the largest share of pharmaceutical drug delivery market in 2018, and is expected to grow at the fastest pace during the forecast period, owing to rise in awareness related to the use of drug delivery systems and increase in healthcare expenditure.
By application, the cancer segment occupied the largest share of the pharmaceutical drug delivery market, in 2018. This growth is attributable to surge in prevalence of cancer. Moreover, rise in need for novel and advanced therapeutics required for cancer treatment is acts as a key factor that boosts the growth of the global market. However, the others segment is expected to grow at the fastest pace during the forecast period, owing to alarming increase in prevalence of various disorders such as respiratory disorders such as asthma and bronchitis.
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