Major Growth Driving Factors:

Growth in the Pharmaceutical Drug Delivery Market can largely be attributed to factors such as the rising prevalence of chronic diseases, the growing biologics market, increasing investments in pharmaceutical RD, and increasing technological advancements. The rising demand for biosimilars biologics and self-administration home care provides a wide range of growth opportunities for key players in the market.

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. Further, the COVID-19 pandemic affected world economics, including the pharmaceutical sector. While currently there is no definitive treatment for this novel infectious disease, the pharmaceutical industry is assisting government bodies to address the COVID-19 unmet needs, from RD actions on potential treatment and prevention strategies to balancing the medicines supply chain in the time of crisis.

Projected Revenue Surge:

The global pharmaceutical drug delivery market is projected to reach USD 2,206.5 billion by 2026 from USD 1,656.9 billion in 2021, at a CAGR of 5.9% during the forecast period.

Challenge: Pricing pressure

Government bodies in both developed and developing countries are encouraging cost-saving measures, such as cutting drug reimbursement prices and promoting the greater use of generics. Drug manufacturers across the globe are facing significant cost reduction pressures from government bodies, insurers, and patients. This downward pricing pressure is resulting in the greater uptake of drugs in emerging markets where the demand for low-cost therapeutics is high.

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The infectious diseases segment is expected to account for the largest share of the pharmaceutical drug delivery market

Based on application, the pharmaceutical drug delivery market is segmented into cancer, infectious diseases, cardiovascular diseases, diabetes, respiratory diseases, central nervous system disorders, autoimmune diseases, and other applications. In 2020, the infectious diseases segment accounted for the largest share of the pharmaceutical drug delivery market. The large share of this market segment can be attributed to the increasing prevalence of infectious diseases across the globe, increasing RD expenditure for new drugs owing to the current COVID-19 pandemic scenario, and the rising number of FDA approvals for such drugs.

The topical drug delivery segment is expected to grow at the highest CAGR during the forecast period

Based on route of administration, the pharmaceutical drug delivery market is segmented into oral, pulmonary, injectable, ocular, nasal, topical, implantable, and transmucosal drug delivery. The topical drug delivery segment accounted for the highest CAGR of the pharmaceutical drug delivery market. This can be attributed to convenience and the ease of use, the ease of dosage, painless and non-invasive administration, and enhanced patient compliance.

Recent Developments:

# In July 2021, Johnson Johnson received FDA approval for DARZALEX (daratumumab), a subcutaneous formulation that reduces the treatment time for multiple myeloma indications.

# In December 2020, Pfizer, Inc. received FDA approval for BRAFTOVI (encorafenib) plus combination with cetuximab for the treatment of patients with brafv600e-mutant metastatic colorectal cancer (CRC) who have undergone prior therapy.

# In November 2020, GlaxoSmithKline plc partnered with IDEAYA to enter the field of Synthetic Lethality, an emerging field in oncology; programs MAT2A, Pol Theta, and Werner Helicase programs, which are part of it, are projected to reach clinical trials in the next three years.

Asia Pacific is expected to account for the highest CAGR for players operating in the pharmaceutical drug delivery market

During the forecast period, the Asia Pacific is expected to be the fastest-growing regional market for pharmaceutical drug delivery. The rapid rise in the geriatric population, increased prevalence of chronic diseases, increased healthcare expenditure, increased RD activities conducted in this region, growth in technological collaborations for pharmaceutical drug delivery technologies, favorable reimbursement policies, and growth in disposable incomes in the emerging Asian economies, such as China and India, are factors that are expected to drive the growth of the APAC market during the forecast period.

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Key Market 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).