According to a recently published study by Fact.MR, the global drug delivery systems market is poised to flourish at a CAGR of 7.8% from 2022 to 2032, concluding at US$ 80 Billion. Rising popularity of precision medicine to improve patient outcomes have contributed majorly to market growth. As of 2022, the market is slated to reach US$ 40 Billion.
From 2015 to 2021, drug delivery systems demand accelerated at a value CAGR of 6%, concluding at US$ 38 Billion. Prospects further heightened during the COVID-19 pandemic, as important stakeholders increased output in order to meet shortages. As the world reverts to normal, the said prospects are only serving to broaden, as advancements in drug delivery systems acquire centerstage.
Several advancements have been made in the field of drug delivery systems. The most significant of them is the incorporation of three-dimensional printing (3D-printing). 3D-printing is a unique prototyping drug delivery technology. It can easily overcome problems associated with the delivery of less water soluble potent drugs, peptides and multi-drugs. Such prolific developments are likely to impel drug delivery systems growth prospects.
Key Takeaways from the Market Study
- Targeted drug delivery will account for over half of the worldwide drug delivery systems market, growing at a CAGR of 6.8%.
- Polymeric drug delivery is predicted to increase the quickest over the projection period, at a pace of 7.3%.
- By application, the oncology segment will grow the quickest, with a CAGR of 7.5%
- The CNS segment, which will increase at a CAGR of 6.9%.
- The Injectables sector will account for a sizable portion of the worldwide drug delivery systems market, accounting for 44.6 % of the total.
- North America will lead the worldwide drug delivery systems market, accounting for about 40% of the market.
“The introduction of nanotechnology, together with three-dimensional printing and the strengthening of current and new medications are positioned to function as significant growth stimulators in the worldwide drug delivery systems market.” “Key manufacturers are seizing potential possibilities to strengthen their market position,” says a Fact.MR Analyst.
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The presence of a large number of global and local producers distinguishes the global drug delivery systems market. Novartis AG, Pfizer, Inc., Baxter International, Inc., and Bayer AG are some of the prominent participants. Boston Scientific Corporation, Johnson & Johnson Services, Inc., Amgen, Inc., and F. Hoffmann La-Roche Ltd. are among the companies involved. The development of novel drug delivery systems, as well as the correction of flaws in current ones, is an essential expansion strategy used by the major market participants.
- In February 2020, Novartis AG, for example, secured a patent to develop thermogelling peptide delivery methods. Furthermore, the business now sells the medications Binocrit and ZYKADIA for the treatment of symptomatic anaemia associated with renal failure and non-small lung cancer. Another major market competitor, Pfizer, Inc., offers the iSecure, ABBOJECT, and CARPUJECT syringe systems. It also provides IV medication delivery devices, such as the ADD-Vantage ADDaptor delivery system.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global drug delivery systems market, presenting historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of delivery system (intra uterine implants, pro-drug implants, polymeric drug delivery and targeted drug delivery), route of administration (oral, injectable, inhalation, transdermal, ocular, nasal and topical), and application (infectious disease, oncology, ophthalmology, urology, diabetes, CNS and others) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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