With an anticipated valuation of US$ 107.5 billion in 2023, the global drug delivery solutions market is poised for expansion, driven by the rising prevalence of infectious diseases. This trend strengthens the overall potential for the drug delivery solutions market, which is projected to experience significant growth at a Compound Annual Growth Rate (CAGR) of 6.8% from 2023 to 2033. The forecasted total valuation of approximately US$ 207.6 billion by 2033 underscores the vital role of drug delivery solutions in addressing healthcare challenges and advancing medical treatments amid the evolving landscape of infectious diseases worldwide.
India is poised to dominate the drug delivery solutions market in South Asia, with a commanding 41% share by 2033, fueled by the widespread adoption of advanced healthcare facilities and the cost-effective manufacturing environment.
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Key Takeaways from the Market Study
- Global drug delivery solutions market was valued at US$ 100.7 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.4%.
- India is expected to hold a dominant CAGR of 6.7% during the forecast period.
- By product type, the bottles segment is expected to constitute a CAGR of 6.7% in 2033.
- On the basis of application, the injectable segment is expected to dominate the market with a CAGR of 6.6% in 2033.
- From 2023 to 2033, drug delivery solutions market is expected to flourish at a CAGR of 6.8%.
- By 2033, the market value of drug delivery solutions is expected to reach US$ 207.6 billion.
Leading Key players in Drug Delivery Solutions Market:
The drug delivery solutions market is dominated by several key players known for their innovation and market presence. Amcor Plc, SCHOTT AG, Gerresheimer AG, and Berry Global Group Inc. are prominent leaders, leveraging advanced technology to enhance drug packaging and delivery. Mondi Plc and Sealed Air Corp. are recognized for their sustainable packaging solutions, while Wipak Group and Constantia Flexibles focus on high-barrier packaging. Ardagh Group SA, Sonoco Products Company, and West Pharmaceuticals Services Inc. are renowned for their specialized containers and delivery systems. WestRock Company and UFlex Ltd. contribute with their versatile packaging designs, and Parekhplast India Ltd. is a notable player in the Indian market, adding to the global diversity and innovation in the industry.
Recent Developments:
In April 2023, Bayer received approval from the FDA for a new extended-release tablet formulation of its oral contraceptive. The extended-release formulation allows for once-daily dosing, offering improved convenience and compliance for women.
In February 2023, Teva announced the launch of a new autoinjector device for the delivery of its biologic therapy for multiple sclerosis. The autoinjector provides a precise and controlled injection, improving patient convenience and adherence to treatment.
In October 2022, GlaxoSmithKline announced the FDA approval of a new intranasal formulation of its influenza vaccine, FluLaval. The intranasal formulation offers a needle-free alternative for flu vaccination, particularly for individuals who have a fear of needles.
In September 2022, AstraZeneca announced the launch of a new autoinjector device for the administration of its biologic therapy for severe asthma. The autoinjector provides a user-friendly and precise delivery system for patients.
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