The drug delivery system market was valued at US$ 1,243,111.7 million in 2018 and it is projected to reach US$ 2,302,227.2 million in 2027; it is expected to grow at a CAGR of 7.2% from 2019 to 2027.
Drug delivery systems are medical devices used to inject drugs or chemicals into the body. Some of the drug delivery systems available in the market include, transmucosal, oral, pulmonary, injectable, topical, nasal, implantable, and ocular among others. Drug delivery systems are the technologies primarily used for the controlled or targeted delivery of various therapeutic agents to treat various diseases or improve the health of the patients. The growth of the global drug delivery system market is attributed to the rising incidence of chronic diseases, growing demand for non-invasive drug delivery devices, and increasing R&D expenditure in pharmaceutical and medical devices. However, high cost involved in development of drug delivery systems and product recalls are the major factor hindering the market growth.
The global drug delivery system market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
Top Companies Analysis-
Novo Nordisk A/S
3M
Boston Scientific Corporation
Bausch Health Companies Inc.
Baxter International, Inc.,
Boehringer Ingelheim
Novartis AG
GlaxoSmithKline plc.
Johnson & Johnson Services, Inc.
Market Segments-
Distribution Channel -Based Insights
In terms of distribution channel, the global drug delivery system market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held the largest share of the market in 2018, and the same segment is estimated to grow at the fastest rate during the forecast period.
Application-Based Insights
In terms of application, the global drug delivery system market is segmented homecare settings, hospitals & clinics and others. In 2018, the hospitals and clinics segment held largest share of the market. However, the homecare settings segment is expected to register the highest CAGR during the forecast period.
Route of Administration -Based Insights
In terms of route of administration, the global drug delivery system market is segmented into oral, transmucosal, topical, injectable, implantable and ocular drug delivery. In 2018, the oral segment held largest share of the market. However, the transmucosal segment is estimated to register the highest CAGR during the forecast period.
TABLE OF CONTENTS
- Introduction
- Key Takeaways
- Research Methodology
- Drug Delivery Systems Market Landscape
- Drug Delivery Systems Market - Key Market Dynamics
- Drug Delivery Systems Market - Global Market Analysis
- Drug Delivery Systems Market - Revenue And Forecasts To 2028 - Type
- Drug Delivery Systems Market - Revenue And Forecasts To 2028 - Application
- Drug Delivery Systems Market Revenue And Forecasts To 2028 - Geographical Analysis
- Industry Landscape
- Drug Delivery Systems Market, Key Company Profiles
- Appendix
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