Pharmaceutical Drug Delivery Market - Future Revenue Growth Prospects in Near Future

Posted February 8, 2024 by mmvaidya01

The global pharmaceutical drug delivery market in terms of revenue was estimated to be worth $1,656.9 billion in 2021 and is poised to reach $2,206.5 billion by 2026.

Report Objectives:

# To define, describe, and forecast the pharmaceutical drug delivery market by route of administration, facility of use, application, and region.

# To provide detailed information regarding factors influencing the market growth, such as drivers, restraints, opportunities, and challenges.

# To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall pharmaceutical drug delivery market.

# To analyze the market opportunities for stakeholders and provide details of the competitive landscape for key players.

# To forecast the size of the pharmaceutical drug delivery market in five main regions (along with their respective key countries), namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.

# To profile the key players in the pharmaceutical drug delivery market and comprehensively analyze their core competencies and market shares.

# To track and analyze competitive developments, such as acquisitions, product launches, expansions, collaborations, agreements, partnerships, and product approvals of the leading players in the pharmaceutical drug delivery market.

# To benchmark players within the pharmaceutical drug delivery market using the competitive leadership mapping framework, which analyzes market players on various parameters within the broad categories of business strategy, market share, and product offering

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Industry Revenue Forecast:

The global pharmaceutical drug delivery market in terms of revenue was estimated to be worth $1,656.9 billion in 2021 and is poised to reach $2,206.5 billion by 2026, growing at a CAGR of 5.9% from 2021 to 2026.

Major Growth Influencing Factors:

Drug delivery is the method or process of administration of a pharmaceutical drug to safely attain its desired therapeutic effect. Advancements in drug delivery technologies offer several benefits, such as ease of use, convenience, and patient compliance. Drug developers are focusing on suitable delivery and packaging options for increasing the efficiency of drugs and proposing improved patient compliance.

Pharmaceutical and biopharmaceutical companies are focusing on R&D to develop new molecules for various therapeutic applications and drug delivery platforms. The companies invest majorly in R&Ds with an aim to deliver high-quality and innovative products to the market. R&D spending by biopharmaceutical companies has also increased over the years.

On the other hand, the risk of needlestick injuries and the increased pricing pressure is expected to limit the market growth to some extent in the coming years.

Data Triangulation:

Following data triangulation from various methods, the pharmaceutical drug delivery market's overall size was determined, as will be discussed below. Based on the degree of assumptions made in each approach, a weighted average of the approaches was determined after each one.

Geographical Growth Dynamics:

From 2021 to 2026, North America will lead the pharmaceutical drug delivery sector.

The pharmaceutical drug delivery market is divided geographically into the following regions: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. In 2020, North America held the biggest market share in this industry. The rising incidence of chronic illnesses like diabetes, cancer, and respiratory allergies as well as patient compliance with novel drug delivery technologies and the concentration of major players in this region are all considered to be contributing factors to the market's high share in North America.

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Key Players:

Major players in this market include Johnson & Johnson (US), Novartis International AG (Switzerland), F. Hoffmann-La Roche AG (Switzerland), Pfizer Inc. (US), Bayer AG (Germany), Antares Pharma, Inc. (US), Becton, Dickinson and Company (US), GlaxoSmithKline plc (UK), 3M (US), Merck & Co., Inc. (US), Sanofi (France), Amgen, Inc. (US), AbbVie Inc. (US), Genmab A/S (Denmark), Gilead Sciences, Inc. (US), Boehringer Ingelheim (Germany), AstraZeneca plc. (UK), Eli Lilly and Company (US), Teva Pharmaceuticals Industries Ltd. (Israel), Bristol-Myers Squibb (US), Gerresheimer AG (Germany), Boston Scientific Corporation (US), Nimbus Therapeutics (US), Kite Pharma (US), and IDEAYA Biosciences, Inc. (US).

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags pharmaceutical drug delivery market , pharmaceutical drug delivery
Last Updated February 8, 2024