by The global Pharmaceutical Drug Delivery Market is estimated to be valued at US$ 2,307.27 Bn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The pharmaceutical drug delivery market comprises products that help in administering pharmaceutical drugs to patients requiring medical treatment. Drug delivery systems aid in introducing drugs or therapeutics into the host system in a controlled and targeted manner. Common drug delivery technologies include oral, pulmonary, transdermal, injectable, and others. Drug delivery technologies provide various advantages such as controlled release of drugs, targeted drug delivery, improved patient compliance and safety. They help improve the efficacy of pharmaceutical drugs and reduce the frequency of drug administration.
Market key trends:
The pharmaceutical drug delivery market is witnessing rising preference for advanced drug delivery technologies owing to their targeted drug delivery approach and controlled release properties. Technologies such as transdermal drug delivery systems, oral thin films, and pulmonary drug delivery are gaining traction. Transdermal drug delivery provides non-invasive administration of drugs through skin for localized or systemic effects. Oral thin films are convenient strip-like formulations that dissolve quickly in mouth without water. Pulmonary drug delivery enables delivery of drugs directly to lungs for treating respiratory diseases. Nanotechnology-based drug delivery and 3D printing for pharmaceuticals also offer promising opportunities in the market.
Porter’s Analysis
Threat of new entrants: The pharmaceutical drug delivery market requires high R&D investments and regulatory approvals which make entry barriers high for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate as the products are differentiated and switching costs are high.
Bargaining power of suppliers: Suppliers have less bargaining power due to fragmented nature of suppliers and availability of substitutes.
Threat of new substitutes: Threat of new substitutes is moderate as new drug delivery technologies can disrupt existing technologies.
Competitive rivalry: The market is dominated by few major players resulting in high competitive rivalry.
Key Takeaways
The global Pharmaceutical Drug Delivery Market is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing prevalence of chronic diseases.
Regional analysis
North America dominates the pharmaceutical drug delivery market due to growing geriatric population and increasing prevalence of chronic diseases in the region. Asia Pacific exhibits the fastest growth over the forecast period attributed to rising healthcare spending and increasing demand for advanced technologies in the region.
Key players analysis
Key players operating in the pharmaceutical drug delivery market include Bayer AG, Cipla Ltd., F. Hoffman-La Roche Ltd., GlaxoSmithKline Plc, Johnson & Johnson, Merck & Co., Inc., Novartis AG, Amgen Inc., Pfizer Inc., and Sanofi. Bayer AG provides solutions for chronic disease management including diabetes care and cardiology. Pfizer Inc offers drug delivery technologies such as transdermal patches and liposomes.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
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