The global drug delivery market size was valued at around USD 258 billion in 2020 and is anticipated to reach around USD 394 billion by 2028, expanding at a CAGR of about 7.40% during the forecast period, 2021 – 2028. The growth of the market is attributed to the rising prevalence of chronic diseases and increasing technological advancements.
Drug delivery refers to methods, approaches, or processes of administrating pharmaceutical drugs safely into body to attain its desired therapeutic effects. The practice of drug delivery changes continuously, as biomedical engineers research about new modes of drug delivery to pass through any physiological barriers. For example, research regarding nanocrystals and their use as a novel drug delivery method contribute to technological advancements in the drug delivery market. Pharmaceutical companies, biomedical engineers, and Contract Development and Manufacturing Organizations (CDMOs) develop drug delivery techniques to improve patient compliance. Technological advancements and rising chronic diseases are driving the global drug delivery market.
The COVID-19 pandemic outbreak led to the need to improve care for patients, adopt new drugs to improve immunity, and stock drugs for future use. Rising vaccination during the pandemic spurred the growth of the market.
Market Trends, Drivers, Restraints, and Opportunities
- Growth in the biologics market boosts the global drug delivery market.
- Rising prevalence of chronic diseases and growing geriatric population are expected to drive the market during the forecast period.
- Growing awareness of self-administered drug delivery devices among consumers spur the growth of the market.
- Rising research & development expenditure and increasing technological advancements are projected to expand the market during the forecast period.
- Growing preference of patients regarding advanced drug delivery devices such as auto-injectors, insulin jets, dry powder inhalers, wearables, and others boost the market.
- Strict regulations and guidelines regarding the approval of new drug delivery devices and product recalls are anticipated to hinder the growth of the market.
- Risk of needlestick injuries hamper the growth of the market.
- Self-administration and home care for growing geriatric population offer lucrative opportunities for key players to develop and launch products, which is expected to boost the market.
Scope of the Report
The report on the global drug delivery market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Drug Delivery Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Administration (Nasal, Oral, Injectable, Pulmonary, Topical, Ocular, Implantable, and Others), Types (Conventional and Advanced), Applications (Cancer, Respiratory Diseases, Diabetes, Infectious Diseases, Cardiovascular Diseases, and Others), Distribution Channels (Retail Pharmacies, Hospital Pharmacies, and Others), End-users (Hospitals, Home Healthcare, Ambulatory Surgical Centers, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Johnson & Johnson; Pfizer, Inc.; Antares Pharma, Inc.; Biocorp Production; Novartis International AG; Elcam Medical; Becton, Dickinson, and Company; West Pharmaceutical Services, Inc.; Ypsomed Holding; Medtronic, Plc.; Gilead Sciences, Inc.; The 3M Company; Teva Pharmaceutical Industries, Ltd.; Sanofi S.A.; and Others
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Market Segment Insights
Injectable drug administration registers a significant growth
Based on administration, the market is segmented into nasal, oral, injectable, topical, ocular, pulmonary, implantable, and others. The injectable segment is expected to dominate the market during the forecast period, owing to its ability to deliver drugs to the target site. Increasing vaccination drives globally is expected to spur the market in the coming years. The oral segment registers high growth, due to its cost-effectiveness, convenience of administration, and ease in manufacturing drugs in oral dosage form.
Advanced segment emerges as a fast-growing segment
On the basis of types, the market is bifurcated into conventional and advanced. The conventional segment accounts for a key share of the market; however, the advanced segment is anticipated to expand at a rapid pace during the forecast period. Rising demand for user-friendly, target-specific, user-compatible, less-invasive, and drug delivery devices with less side-effects is anticipated to boost the market.
Infectious diseases segment accounted for a large share of the market
Based on applications, the market is divided into cancer, respiratory diseases, diabetes, infectious diseases, cardiovascular diseases, and others. The infectious diseases segment is estimated to dominate the market during the forecast period, due to increasing prevalence of infectious diseases globally. Increasing research & develop expenditure for new drugs, due to COVID-19 pandemic situation, and rising Food and Drug Administration (FDA) approvals for such drugs propel the market.
Hospital pharmacies drive the market
Based on distribution channels, the market is segregated into retail pharmacies, hospital pharmacies, and others. The hospital pharmacies market is expected to dominate the market during the forecast period, due to rising drug delivery from hospital pharmacies. With prevailing diseases, increasing hospital admissions, and advancements in hospital facilities, the hospital pharmacies segment boosts the market. The retail pharmacies segment is expanding at a significant rate, due to easy availability of drug delivery devices in retail pharmacies, and growing preferences of consumers of self-injectable and self-monitoring devices.
Home healthcare is expected to expand at a significant rate
On the basis of end-users, the market is divided into hospitals, home healthcare, ambulatory surgical centers, and others. The home healthcare segment is anticipated to drive the market during the forecast period, owing to growing awareness of hospital-acquired diseases, increasing geriatric population, and rising disposable income.
North America is expected to dominate the market
Based on regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market is North America is projected to expand at a significant CAGR, due to rising number of chronic diseases such as diabetes, cancer, respiratory allergies, and others, growing geriatric population, and presence of large number of key players in the region who focus on developing and launching products. Large number of pharmaceutical companies, growing research & development expenditure, and technological advancements are expected to drive the market in the region.
Segments
The global drug delivery market has been segmented on the basis of
Administration
- Nasal
- Oral
- Injectable
- Pulmonary
- Topical
- Ocular
- Implantable
- Others
Types
Applications
- Cancer
- Respiratory Diseases
- Diabetes
- Infectious Diseases
- Cardiovascular Diseases
- Others
Distribution Channels
- Retail Pharmacies
- Hospital Pharmacies
- Others
End-users
- Hospitals
- Home Healthcare
- Ambulatory Surgical Centers
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Johnson & Johnson
- Pfizer, Inc.
- Antares Pharma, Inc.
- Biocorp Production
- Novartis International AG
- Elcam Medical
- Becton, Dickinson, and Company
- West Pharmaceutical Services, Inc.
- Ypsomed Holding
- Medtronic, Plc.
- Gilead Sciences, Inc.
- The 3M Company
- Teva Pharmaceutical Industries, Ltd.
- Sanofi S.A.
- Others
Competitive Landscape
Key players such as Johnson & Johnson; Pfizer, Inc.; Antares Pharma, Inc.; Biocorp Production; Novartis International AG; Elcam Medical; Becton, Dickinson, and Company; West Pharmaceutical Services, Inc.; Ypsomed Holding; Medtronic, Plc.; Gilead Sciences, Inc.; The 3M Company; Teva Pharmaceutical Industries, Ltd.; Sanofi S.A.; and others use strategies such as mergers, acquisitions, collaborations, partnerships, and product launches to dominate the global drug delivery market. In November 2020, Medtronic launched InPen, which provides real-time glucose readings and insulin dosage information. In May 2021, Becton, Dickinson, and Company announced an investment of USD 200 millions in a new facility in Spain to support the growth of its pre-filled drug delivery business.