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Pharmaceutical Drug Delivery Market Size

Report ID: GMI5565
Published Date: Apr 2023
Report Format: PDF

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Pharmaceutical Drug Delivery Market Size

Pharmaceutical Drug Delivery Market size was more than USD 1.6 trillion in 2022 and is forecast to observe more than 7% CAGR from 2023 to 2032. The rising adoption of self-administration and home care will influence the market development.

Pharmaceutical Drug Delivery Market

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Emerging preferences for self-administration and at-home care will influence the market trends. A large portion of the elderly population is preferring home care over hospital care as it is a more affordable and practical option. The high prevalence of many diseases and an increase in the number of diabetic patients worldwide has resulted in the widespread usage of self-injector devices for the administration of insulin. As patients are choosing self-administration devices to eliminate the high costs of hospitalization and caregivers, many companies are launching new drug delivery products to meet the impending demand. For instance, in May 2022, Jabil Healthcare launched the Qfinity Autoinjector Platform which is a reusable drug delivery device.

Pharmaceutical Drug Delivery Market Report Attributes
Report Attribute	Details
Base Year:	2022
Pharmaceutical Drug Delivery Market Size in 2022:	USD 1.64 Trillion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	7.1%
2032 Value Projection:	USD 3.2 Trillion
Historical Data for:	2018 to 2022
No. of Pages:	850
Tables, Charts & Figures:	1,673
Segments covered:	Route of administration, Application, Facility of use, and Region
Growth Drivers:	Rising prevalence of chronic diseases Growth in the biologics market Technological advancement and new product launches Increasing investment in pharmaceutical R&D Self-administration and home care
Pitfalls & Challenges:	Risk of needlestick injuries Cost intensive drug development process

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Concerns over needlestick injuries could hamper the growth of the pharmaceutical drug delivery market. Injuries from needlesticks happen when a needle inadvertently pierces the skin. Such wounds are dangerous because they can spread bacteria that can result in deadly bloodborne diseases. As per estimates, around 600,000 to 800,000 needlestick injuries are recorded in the US each year. Healthcare workers are at high risk of needlestick injuries which can lead to serious or fatal infections.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for pharmaceutical drug delivery was more than USD 1.6 trillion in 2022 and is forecasted to observe more than 7% CAGR from 2023 to 2032.

Infectious diseases segment is predicted to reach more than USD 555 billion by 2032 due to high prevalence of infectious diseases including SARS, swine flu, TB, and others.

North America pharmaceutical drug delivery market share was nearly 49% in 2022 fueled by rising disease prevalence due to factors like high alcohol consumption, smoking, and sedentary lifestyle.

Johnson & Johnson, AstraZeneca plc, AbbVie Inc, Bayer AG, Amgen, Inc., Eli Lilly and Company, Sanofi, Merck & Co. Inc., GILEAD SCIENCES, INC., and Pfizer Inc. are some of the key players in market.