Pharmaceutical Drug Delivery Market - Emerging Tech Innovations | Global Revenue Growth Expectations

Growth in this market is mainly driven by the rising prevalence of chronic diseases, growth in the biologics market, and technological advancements and new product launches. Due to the outbreak of corona virus globally, there is a sudden rise in the demand for pharmaceutical drugs largely in infectious application.

The pharmaceutical drug delivery technology market is projected to reach USD 2,015.3 billion by 2025 from USD 1,430.5 billion in 2020, at a CAGR of 7.1% during the forecast period.

Recent Developments in the Industry:

# In 2020, Johnson & Johnson, Inc collaborated with Biomedical Advanced Research and Development Authority (BARDA), to expedite development and strengthen access through production of coronavirus vaccine.

# In 2020, Johnson & Johnson, Inc collaborated with MeiraGTx Holdings Plc (US) to develop, manufacture and commercialize its clinical stage inherited retinal disease drug portfolio.

# In 2019, Novartis signed an agreement with Shionogi (Japan) to commercialize new treatment, Rizmoic (Naldemedine) for Opiod-induced constipation in key European countries of Germany, UK and Netherlands, with rights of first refusal for some other European markets.

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In 2019, the infectious diseases segment accounted for the largest share

Based on application, the Pharmaceutical Drug Delivery Techniques Market is segmented into infectious diseases, cancer, cardiovascular diseases, diabetes, respiratory diseases, central nervous system disorders, autoimmune diseases, and other applications.

In 2019, the infectious diseases segment accounted for the largest share of the pharmaceutical drug delivery market. The large share of this segment can be majorly attributed to the increasing prevalence of infectious diseases and increasing company initiatives to enhance R&D related to infectious diseases. Further, spread of COVID-19 has further propelled the market for this application.

Market Size Estimation:

The total market size for pharmaceutical drug delivery technology market was arrived at after data triangulation from two different approaches, as mentioned below:

Approach to calculate the revenue of different players in the pharmaceutical drug delivery technology market

# Revenues for individual companies operating in the Pharmaceutical Drug Delivery Techniques Market were gathered from public sources and databases.

# Share of each product type of leading players was gathered from secondary sources to the extent available. In certain cases, the share of pharmaceutical drug delivery technology business has been ascertained after a detailed analysis of various parameters, including the product portfolio, market positioning, and geographic reach & strength, among others.

# Individual shares or revenue estimates were validated through expert interviews.

# The impact of COVID-19 was assessed using the quarterly reports of the companies and applied to the global market for impact assessment.

Approach to derive the market size and estimate market growth

# As a part of the primary research process, an individual respondent’s insights on the market size and market growth were taken during the interview (regional and global, as applicable).

# All the responses were collated, and a weighted average was taken to derive a probabilistic estimate of the market size and growth rate.

In 2019, North America accounted for the largest share of the Pharmaceutical Drug Delivery Techniques Market

Geographically, North America accounted for the largest share of 39.3% of the market in 2019, followed by Europe. The large share of the North American market is due to factors such as growth in biologics in the pharmaceuticals market; the rising prevalence of chronic diseases such as cancer, respiratory allergies, and diabetes; increasing patient compliance to innovative drug delivery technologies; and the presence of a large number of prominent players in this region.

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Major Leaders:

The pharmaceutical drug delivery market is highly fragmented in nature with several big and emerging players. Johnson & Johnson, Inc. (US), Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd. (Switzerland), Bayer AG (Germany), Pfizer, Inc. (US), Sanofi (France), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), 3M (US), Antares Pharma, Inc. (US), and Becton, Dickinson and Company (BD) (US) are some of the leading players operating in the global pharmaceutical drug delivery.

Players in this market pursue the strategies of product approvals, partnerships, agreements, collaborations, expansions, and acquisitions to develop and expand their market presence. Product approvals has been the key growth strategy adopted by players to expand their share in the market.