Advances in Pharmaceutical Drug Delivery Market Driving Market towards Growth says Maximize Market Research
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Rising healthcare expenditure to drive the pharmaceutical drug delivery market during the forecast period
PUNE, MAHARASTRA, INDIA, November 3, 2022 /EINPresswire.com/ — According to the “Pharmaceutical Drug Delivery Market” report by Maximize Market Research, the market was valued at USD 1.9 billion in 2021. For the forecast period from 2021 to 2029, the market is expected to reach USD 3.3 billion by 2029, growing at a CAGR of 7 percent.
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Pharmaceutical Drug Delivery Market Report Scope and Research Methodology:
The research includes complete market insights for industry stakeholders, including an explanation of complex market statistics in clear terms, the history and current state of the industry, as well as estimated market size and trends. The study looks at all industry segments (Route of administration, Application, Facility of use and Region), with a focus on major firms such as market leaders, followers, and new entrants. The report is an investor & guide since it provides a comprehensive picture of the competitive landscape of leading players in the Pharmaceutical Drug Delivery Market by goods and services, revenue, financial status, portfolio, growth strategies, and geographical presence.
Secondary research is used to identify key companies in the Pharmaceutical Drug Delivery Market, while primary and secondary research is used to determine their market revenues. Interviews with key opinion leaders and industry specialists such as competent front-line staff, entrepreneurs, and marketing professionals were conducted as part of primary research, while a review of annual and financial reports of prominent manufacturers was conducted as part of secondary research. Johnson & Johnson, Novartis International AG, Pfizer Inc. and F. Hoffmann-La Roche AG are some of the major players in the global Pharmaceutical Drug Delivery Market, and the report not only represents global companies but also includes the market holdings of local players in each country. The market structure illustrated in each country, with market holdings by market leaders, followers, and local companies, provides a full insight into the research. The report covers the market & mergers and acquisitions, strategic alliances, joint ventures, and partnerships by region, investment, and strategic intent.
Pharmaceutical Drug Delivery Market Overview
Processes through which drugs are carried into the body are called pharmaceutical drug delivery systems. The methods of delivery include pills that are swallowed or vaccines that are injected into the body. These are known as mediums as they deliver the drug into the body. They are divided into oral drug delivery, pulmonary drug delivery, injectable drug delivery, nasal drug delivery and more.
The field of pharmaceutical drug delivery market is witnessing rapid advancements in the field. A lot of work is going into understanding the physiological barriers, thereby developing more effective and efficient modes of drug delivery.
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Pharmaceutical Drug Delivery Market Dynamics
One of the major drivers of the Pharmaceutical Drug Delivery Market is the shift in demand of patients for more advanced systems of delivery for better efficiency of the medication. There has also been an increase in self-administered devices that are increasing the demand for Pharmaceutical Drug Delivery Market. Advancements in the field are offering benefits such as needle-free injections, regulated doses and flexibility. These innovations also helped doctors to focus on drug administration with greater accuracy, especially in people ridden with chronic pain. These factors have shifted the preference of patients as well as doctors towards more sophisticated and novel drug administrating methods, increasing growth in the Pharmaceutical Drug Delivery Market.
The increased incidence of chronic diseases such as asthma, cancer, and diabetes has resulted in demand for Pharmaceutical Drug Delivery Market. The geriatric population has been increasing globally. They are also the ones that are most vulnerable to such chronic illnesses. These two factors coupled together are likely to boost demand for the Pharmaceutical Drug Delivery Market.
A major restraint of the Pharmaceutical Drug Delivery Market is the possibility of NSIs (Needlestick Injuries). These are injuries caused in intravenous systems by needles such as hypodermic needs and blood collection needles. Studies suggest that almost 75 percent of NSIs are not even recorded in developing countries. The daunting prevalence of such NSIs poses a risk of transmission of blood-borne pathogens.
There also exists pricing pressure from the public and private players coupled with initiatives by the government that is placing excessive pressure on the producers for a price reduction. This trend is witnessed in developing and developed countries and is expected to be a barrier to the growth in the Pharmaceutical Drug Delivery Market.
Pharmaceutical Drug Delivery Market Regional Insights
North America held the highest market share in 2021 at 45.8 percent. The growth in the market is attributed to several factors such as government initiatives and support in the form of schemes and policies for the growth of the market. Research and development in the region is also boosting growth in the market. The existence of major players is also one of the factors driving the market. Awareness about mental health has brought to light the number of cases related to mental disorders mainly hypertension. This is one of the reasons for the growth of the regional Pharmaceutical Drug Delivery Market.
The second major share in the Pharmaceutical Drug Delivery Market was dominated by Europe in 2021. Factors for growth in the area include the advancements happening in the field and the presence of major pharmaceutical companies in the region. The European region has been suffering from chronic illnesses such as cancer and diabetes which increases the demand for Pharmaceutical Drug Delivery Market. The European market is expected to witness steady growth for the forecast period. Asia-Pacific region is expected to observe rapid growth on the account of several countries in the region developing as pharmaceutical sectors. Such countries include India which was known as the pharmacy in the world for the period 2020 and 2021. China and Japan are also developing their Pharmaceutical Drug Delivery Market.
Pharmaceutical Drug Delivery Market Segmentation
By route of administration:
Oral Drug Delivery
Injectable Drug Delivery
Topical Drug Delivery
Ocular Drug Delivery
Pulmonary Drug Delivery
Implantable Drug Delivery
Transmucosal Drug Delivery
Nasal Drug Delivery
Central Nervous System Disorders
By facility of use:
Hospitals, Ambulatory Surgery Centers
Home Care Settings
Pharmaceutical Drug Delivery Market Key Competitors:
Johnson & Johnson
Novartis International AG
F. Hoffmann-La Roche AG
Antares Pharma, Inc.
Dickinson and Company
Merck & Co., Inc.
Gilead Sciences, Inc.
Eli Lilly and Company
Teva Pharmaceuticals Industries Ltd.
Boston Scientific Corporation
Key questions answered in the Pharmaceutical Drug Delivery Market are:
What is the market segmentation of Pharmaceutical Drug Delivery Market?
What is the CAGR for the forecast period of Pharmaceutical Drug Delivery Market?
Who are the key players in the Pharmaceutical Drug Delivery Market?
What are the factors leading to growth in the Pharmaceutical Drug Delivery Market?
Who held the largest market share in Pharmaceutical Drug Delivery Market in 2021?
What are the factors for the growth of North America in Pharmaceutical Drug Delivery Market?
Which countries are expected to drive the Pharmaceutical Drug Delivery Market in the Asia-Pacific region?
Which product segment held the largest share of the Pharmaceutical Drug Delivery Market in 2021?
Market Share, Size & Forecast by Revenue | 2022−2029
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Directly Purchase a copy of the Pharmaceutical Drug Delivery Market report:
Maximize Market Research is leading healthcare research firm, has also published the following reports:
Drug Delivery Devices Market-The Drug Delivery Devices Market size is expected to reach USD 400 billion by 2029 at a CAGR of 7.4 percent during the forecast period. The Drug Delivery Devices Market is expected to be driven by advancement in drug delivery devices, increased prevalence of chronic illnesses such as diabetes and cancer and investment in healthcare infrastructure by the government.
Connected Drug Delivery Devices Market-The Connected Drug Delivery Devices Market size is expected to reach USD 10552.30 billion by 2029 at a CAGR of 36.10 percent during the forecast period. The Drug Delivery Devices Market is expected to be driven by the increasing cost of medical management, rising incidence of chronic disease and improvement in patient treatment.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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Fitness - Beauty News originally published at Fitness - Beauty News