The global pharmaceutical drug market accounted for USD 1,403.1 billion in 2019. It is projected to register growth at CAGR of 2.9% during the forecast period.
COVID-19 has impacted all the businesses across the globe. Corona virus has captured 215 countries and territories till now. Due to corona virus the market share of infectious disease segment has been increased. COVID-19 has given a boost to pharmaceutical drug delivery market during the forecast period. Corona virus has been increasing exponentially, all the hospitals giving extra care to COVID-19 patience and added immunity support. Due to this the adoption of drugs such as multivitamin, vitamin C, antiviral and many others has been increased. Thus the pharmaceutical market is expected to witness growth during forecast period.
For more details, visit: Global Pharmaceutical Drugs Market By Type(Oral Drug Delivery, Ocular Drug Delivery, others), By Application (Cancer, Diabetics, Others), By End User (Hospitals, Home Care, Others), By Region–Forecast & Opportunities to 2026
The rise in expenditure in healthcare by government and private agencies are driving the pharmaceutical drug delivery market. Government is also investing in research in drug delivery market. Some of the private agencies are also investing for research in pharmaceutical drug delivery market. This factor is likely to drive growth in this sector during forecast period.
Based on the route of administration the pharmaceutical drug delivery market is segmented into oral drug delivery, injectable oral drug delivery systems, topical drug delivery system, ocular drug delivery, pulmonary drug delivery, nasal drug delivery, transmucosal drug delivery and implantable drug delivery. The injectable drug delivery system accounted for maximum market share in 2019.
Based on application the pharmaceutical drug delivery market is segmented into cancer, infectious disease, diabetics, respiratory disease, central nervous system disorders, cardiovascular disease, autoimmune diseases and others. The cancer segment has accounted for maximum market share in 2019. The large number cancer cases worldwide had driven this segment towards growth.
Based on facility of use the pharmaceutical drug delivery market segmented into hospitals, ambulatory surgery clinics, home care settings, diagnostic centers and others. The hospital segment has accounted for maximum market share in 2019. The large number of inpatient and outpatient visits and availability of all the facility had driven this market towards growth. The home care setting segments is estimated to register growth at highest CAGR during the forecast period.
North America accounted for XX% market share which is highest in 2019. The technological advancement in pharmaceuticals industry drives the market growth in North America region. The rising number of chronic disease cases and growth in biologics are other driving factors for Pharmaceutical drugs delivery market growth.
The Key market players in Pharmaceutical drug delivery are Merck & Co., Johnson & Johnson, F. Hoffman-la Roche, Bayer AG, Novartis AG, Pfizer Inc., 3M Company, Becton, GlaxoSmithkline Plc, Dickinson & Company, Sanofi and Antares Pharma.
- What are the expected industry trends over the next three to five years?
- Which of the pharmaceutical drug type is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?