Pharmaceutical Drug Delivery Market
Global Pharmaceutical Drug Delivery Market to Cross USD 2,433 Billion by 2028
Published | 05 August 2022
The growth of the pharmaceutical drug delivery market can be ascribed to surge in the prevalence of chronic diseases throughout the world resulting in development of new and advanced technologies of medications and also pharmaceutical drug delivery systems. Moreover, the rising demand for pharmaceuticals coupled with emergence and adoption of new technologies in pharmaceutical manufacturing is driving the growth of the global pharmaceutical drug delivery market during the forecast period 2022-2028.
A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the Global Pharmaceutical Drug Delivery Market was worth USD 1,650.4 billion in 2021 and is projected to reach USD 2,433.7 billion by the year 2028, growing at a CAGR of 5.8% during the period of 2022-2028. This can be ascribed to the surge in the prevalence of chronic diseases throughout the world, resulting in the development of new and advanced technologies of medications and pharmaceutical drug delivery systems. Moreover, the rising demand for pharmaceuticals coupled with the emergence and adoption of new technologies in pharmaceutical manufacturing is driving the growth of the global pharmaceutical drug delivery market during the forecast period 2022-2028.
Growing Instances of Chronic Diseases Throughout the World Driving the Pharmaceutical Drug Delivery Market
The growth of the pharmaceutical drug delivery market is due to a surge in instances of chronic diseases, including asthma, Chronic Obstructive Pulmonary Disease (COPD), cancer, and several other diseases resulting in a high rate of morbidity globally. According to the Center for Disease Control and Prevention (CDC), six out of ten Americans have at least one chronic disease, such as heart disease, stroke, diabetes, or cancer. The World Health Organization stated that the prevalence of chronic disease would surge by 57% by 2020. The increment in the cases of chronic diseases may further lead to the development of new and advanced technologies of medications and also pharmaceutical drug delivery systems, thus propelling the growth of the pharmaceutical drug delivery market globally. Moreover, the rising demand for pharmaceuticals coupled with the emergence and adoption of new technologies in pharmaceutical manufacturing is expected to bolster the global pharmaceutical drug delivery market growth over the forecast period.
Request for Sample Report @ https://www.blueweaveconsulting.com/report/pharmaceutical-drug-delivery-market/report-sample
Infectious Disease Segment Account for The Largest Market Share In 2021
The pharmaceutical drug delivery market is segmented into infectious diseases, cancer, cardiovascular diseases, diabetes, respiratory diseases, central nervous system diseases, autoimmune diseases, and others. Amidst the segmentation, the infectious disease segment accounted for the largest market share in 2021. Numerous chemical medications are used to treat common infectious diseases all over the world; thus, this category accounts for the majority of the revenue made by biotech and pharmaceutical businesses that supply resources to the healthcare industry. However, there has also been an increase in the incidence of respiratory diseases, autoimmune diseases, and central nervous system disorders in recent years.
The Asia-Pacific Region Expected to Grow with The Highest CAGR in the Global Pharmaceutical Drug Delivery Market.
In terms of regional analysis, the global pharmaceutical drug delivery market has been classified into North America, Europe, the Asia-Pacific, Latin America and the Middle East, and Africa. Amidst the segmentation, the Asia-Pacific region is expected to be the fastest growing market in the region during the forecast period 2022-2028. This can be attributed to the rising demand for pharmaceutical drug delivery owing to raised awareness about the use of pharmaceutical drug delivery products in the region. The growth of the markets in developing economies such as India, China, and Malaysia is fueled by the life science industry's ongoing evolution, which has resulted in a spike in awareness about the usage of pharmaceutical drug delivery systems.
Impact Of COVID-19 on the Global Pharmaceutical Drug Delivery Market
During the initial stages of the pandemic, with the rampant spread of COVID-19 and intensifying fear, drugs were stocked by various end users and patients. This boosted the growth of the pharmaceutical drug delivery market as several companies witnessed an increase in revenue in the first quarter of 2020 as compared to the first quarter of 2019. However, the stringent lockdown measures implemented throughout the world restricted patient movement and probable identification substantially. The healthcare institutions were overburdened with the influx of a large number of COVID-19 cases, thus impacting the availability of treatment for other health situations. Patients undergoing certain treatments experienced a remarkably long turnaround time due to the COVID 19 outbreak. After a few months, when it became clear that some other disorders could amplify the effects of the Covid-19 outcome, pharmaceutical items in all categories were resurrected to some extent.
The global pharmaceutical drug delivery market is characterized by many local, regional, and global vendors. The key players operating in the global pharmaceutical drug delivery market are Novartis International AG, Pfizer INC, Johnson & Johnson, Hoffmann-LA Roche AG, Becton, Dickinson and Company, GlaxoSmithKline PLC, Merck & Co., INC, Sanofi, Bayer AG, 3M, Antares Pharma, INC, Amgen, INC, Abbvie INC, Genmab A/S, Gilead Sciences, INC, Boehringer Ingelheim, AstraZeneca PLC, Eli Lilly and Company, Teva Pharmaceutical Industries LTD and other prominent players. The players maintain their dominance in the market by investing in research and development activities, integrating the latest and advanced technologies into their products, and launching improved outcomes for the customers.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the global pharmaceutical drug delivery market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global pharmaceutical drug delivery market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the market's growth drivers, challenges, and competitive dynamics.
BlueWeave Consulting provides all-inclusive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. We offer comprehensive market research reports by analyzing qualitative and quantitative data to boost your business solution's performance. BWC has built its reputation from the scratches by delivering quality inputs and nourishing long-lasting relationships with its clients. We are a promising digital MI solutions company providing agile assistance to make your business endeavors successful.
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
Recent Press Releases
- France Hearing Aids Market to Grow at a CAGR of 7.2% until 2028
- United States Healthcare Asset Management Market to Grow at a CAGR of 36.2% until 2028
- Global E.coli Water Testing Kit Market Reflecting Healthy Growth: Projected to Grow at a CAGR of 6.4% by 2027
- India Nephrologist Market Poised for Continued Growth—Projected to Reach worth USD 102.7 Million in 2027
- Global market of Catheter witness market is projected to reach market size of USD 74.3 billion at a CAGR of 9.32% by 2026
- Disposable Face Mask Market on an Upward Growth Trajectory — Projected to Grow at a CAGR of 20% During 2022-2028