PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269690
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269690
Global Pharmaceutical Drug Delivery Market is valued at approximately USD 1377.28 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.7% over the forecast period 2022-2029. Pharmaceutical drug delivery is a formulation or device used to administer a medicinal material into the body. This technique works by delivering pharmaceuticals to the body's targeted areas with the use of a medium that can control the administration of the therapy using either a chemical or a physiological trigger. The different routes by which pharmaceutical medications are administered are oral, intravenous injection, cutaneous absorption, and inhalation. The global market growth is being driven by the factors such as high incidences of chronic diseases among the population, surging demand for biosimilars and biologics, increasing government support for research in the field of drug delivery, and rising concerns & awareness about health care. The World Health Organization stated that cardiovascular diseases account for the leading cause of death with around 17.9 million cases worldwide. Similarly, according to the International Diabetes Federation, the diabetic population is likely to reach 783 million by the year 2045.
In addition, the growing investments in pharmaceutical R&D are acting as a catalyzing factor for the growth of the market across the globe. The globalization of healthcare has expanded the scope of pharmaceuticals, which represents significant growth opportunities. Pharmaceutical companies are investing in R&D to develop drugs that are tailored to the specific needs of the customers. As per Statista, in 2020, the total overall R&D spending in the pharmaceutical sector accounted for USD 207 billion and it is projected to reach around USD 265 billion by the year 2025. Thereby, the increasing investments in pharmaceutical R&D are attributed to market development. Moreover, the growing trend of self-administration and home care, as well as increasing technological advancements and new product launches are presenting various lucrative opportunities over the forecasting years. However, the increasing number of drug recalls and drug failures is challenging the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Pharmaceutical Drug Delivery Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the easy availability of pharmaceutical drug delivery systems, rising government support, rising government initiatives, along with modernize healthcare infrastructure. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the increasing incidences of chronic diseases including cancer, respiratory allergies, and diabetes, rising awareness regarding the use of pharmaceutical drug delivery products as well as the growth of the life science industry across the APAC region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable