The pharmaceutical drug delivery market involves the development of various drug delivery or drug carrier systems to deliver pharmaceutical drugs or biological therapeutics into the body. The growing geriatric population and prevalence of chronic diseases like cancer, diabetes, and cardiovascular diseases has increased the demand for healthcare products and services worldwide. The pharmaceutical drug delivery systems help in effective administration of pharmaceutical drugs by protecting drugs from degradation, controlling drug release as per body requirement, and enhancing drug bioavailability.
Key Takeaways
Key players operating in the Pharmaceutical Drug Delivery market are Thermo Fisher Scientific Inc., Corning Incorporated, Lonza Group Ltd., Avantor, Inc., Synthecon Incorporated, Bico Group, ReproCELL Incorporated, Becton, Dickinson, and Company, 3D Biotek, LLC, InSphero AG. These players are involved in developing advanced drug delivery formulations and drug-device combination products to enhance the efficacy of pharmaceutical drugs.
The key opportunities in the pharmaceutical drug delivery market include the growing demand for personalized medicine, expanding biologics market, and 3D bioprinting technologies. Personalized medicine helps in tailored treatment as per the genetics, lifestyle, and environment of individuals. The biologics market growth is attributed to the increasing demand for monoclonal antibodies, vaccines, and recombinant proteins. 3D bioprinting aids in fabricating complex 3D tissue models for drug development and testing.
Globally, the pharmaceutical drug delivery market is expanding mainly due to the increasing healthcare expenditure, R&D investments, and advancements in drug design technologies. The market is witnessing high growth in emerging countries like India, China, Brazil owing to rising disposable income, growing patient awareness, and supportive government policies for healthcare sector development.
Market drivers: Increasing government investments in healthcare infrastructure development and initiatives like health insurance are boosting the pharmaceutical drug delivery market growth. The rising penetration of health insurance aids in affordable access to expensive healthcare services and products.
Market restrain: High costs associated with drug development and delivery technologies development may hamper the market growth. Developing novel drug delivery approaches involve significant capital investment and risks. The stringent regulatory approval process also acts as a challenge for market players.
Segment Analysis
Inhalables segment dominates the Pharmaceutical Drug Delivery Market Growth currently holding around 40% share globally. This is because drugs administered through the lungs offers non-invasive route of delivery and provides quick therapeutic action as lungs have huge surface area for drug absorption. Oral drug delivery is the second largest segment accounting for over 30% share. Tablets and capsules provide easy and cost-effective administration of drugs through oral route. However, oral products have limitations such as hepatic first pass metabolism and gastrointestinal degradation which reduces bioavailability.
Global Analysis
North America is the dominant as well as the fastest growing regional market for Pharmaceutical Drug Delivery industry. Higher healthcare spending and presence of prominent companies in the US and Canada drive the growth of the market in North America. Europe holds the second largest market share due to growing R&D investments and increasing demand for advanced drug delivery systems. Asia Pacific region is anticipated to witness highest CAGR over the forecast period. Rapid economic development, rising income levels, growing geriatric population and increasing prevalence of chronic diseases are propelling the growth of pharmaceutical drug delivery market in Asia Pacific.
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