Global Drug Delivery Market:
Dublin, April 29, 2022 (GLOBE NEWSWIRE) — Added “Drug Delivery Market – Forecasts from 2022 to 2027” report to ResearchAndMarkets.com’s offer.
The drug delivery market was valued at US$691.645 billion in 2020 and is expected to grow at a CAGR of 8.24% over the forecast period to reach a total market size of US$1,203,946 billion by 2027.
A drug delivery device is a specialized device for the controlled and targeted delivery of drugs. The health benefits and longevity have been extended by drugs for centuries, and the way drugs are delivered have changed in recent decades.
Molecular biology strategies can be used to discover a drug that has acceptable side effects as a result of interacting with parts of the body not attacked by the drug. Drug delivery systems determine how much of the drug is delivered and how far it reaches the target. Increasing cases of chronic diseases, growth in the medical diagnostics and technological advancements market and the launch of new companies are driving the market growth.
According to the World Health Organization, the prevalence of chronic diseases is expected to increase by 57% by 2020. In addition, several pharmaceutical companies are suddenly experiencing a surge in demand for drugs designed to treat infectious diseases due to the global outbreak of the Coronavirus, which has been a major factor in the surge in drug demand.
The growing awareness around pharmaceutical drug delivery systems is also contributing to the market growth. In addition, the growth of the pharmaceutical drug delivery market is being influenced by additional factors such as an increase in healthcare and government funding.
In addition, the emergence of various chronic diseases necessitating the use of pharmaceutical delivery systems is a major driver of the pharmaceutical delivery system market. However, the drug delivery market is hampered by the increasing number of drug recalls and failures. In addition, the forecast period should present lucrative opportunities in emerging economies due to their high growth potential.
Growth in the organic market
Biologics are the most advanced treatments available for a variety of diseases and conditions. According to World Health Organization statistics, about 41 million people die every year from chronic diseases, and about 17.9 million people die from cardiovascular disease, followed by cancer (9 million), respiratory diseases – 3.9 million and diabetes – 1.6 million. In addition, about 80% of deaths from chronic diseases result from these four groups.
Also, the increasing number of geriatrics means that chronic diseases will affect more people, increasing the demand for biologics. The number of over-65s will rise from one in 11 in 2019 to one in six in 2050 (16%), compared to one in 11 at the beginning of this year (9%) (Source: WHO). Investors have also boosted overall market growth.
In Singapore, Novartis AG invested a total of $700 million in establishing a biological center, while Bristol-Myers Squibb spent more than $900 million on a major organic plant in Ireland, which opened in 2019. Due to the significant growth in the biologics market and the fact that generic injectables are primarily administered by injection, the injectables supply market should continue to grow.
Injuries caused by needles
One of the main risks associated with administering injectable drugs is needlestick injuries. According to PharmaJet, 600,000 to 800,000 needlestick injuries are reported in the United States each year. According to the Occupational Safety and Health Administration (OSHA), 5.6 million workers in the US are at risk of exposure to blood-borne pathogens due to needlestick injuries. In addition, the CDC estimates that U.S. hospitals experience 385,000 needlestick injuries each year.
In addition, the WHO found that 34.7% of hepatitis B cases, 56.9% of hepatitis C cases and 46.7% of HIV/AIDS cases among health professionals worldwide were associated with needlestick injuries. . A large number of drugs and vaccines are undergoing various clinical trials and are expected to be made available to patients in the coming months and years under guidelines for emergency authorizations for the treatment of COVID-19.
COVID-19 Impact on the Drug Delivery Market:
The number of cases of COVID-19 is increasing rapidly in many countries. Patients affected by this virus required a higher level of care, as well as nutritional and immunological support (including vitamins and other curative medications). An increase in drug use has fueled market growth, including vitamins such as vitamin C, multivitamins, and antivirals.
There are a large number of drugs and vaccines in various clinical trial phases that are expected to be launched in the coming months/years under the Emergency Authorization Guidelines for the treatment of COVID-19. Vaccines are being developed, produced and administered on a mass level, resulting in a high demand for various drug delivery systems over the forecast period.
Main topics covered:
1.1. Market definition
1.2. Market share
2. RESEARCH METHODOLOGY
2.1. Research data
3.1. research highlights
4. MARKET DYNAMICS
4.1. Market factors
4.2. Market Restrictions
4.3. Porter’s Five Forces Analysis
4.4. Industry Value Chain Analysis
5. DRUG SUPPLY MARKET, BY TYPE OF DELIVERY
5.2. Inhalation Drug Delivery
5.3. Injectable Drug Delivery
5.4. Administration of Nasal Drugs
5.5. Oral drug administration
5.6. Transdermal drug delivery
6. MARKET FOR THE SUPPLY OF DRUGS, BY TECHNIQUE
6.2. Needle-Free Injectors
6.3. Drug Delivery Patches
6.4. Automatic injectors
7. DRUG SUPPLY MARKET, BY APPLICATION
7.2. cancer treatment
7.3. Treatment of infectious diseases
8. DRUG DELIVERY MARKET, BY GEOGRAPHY
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Key players and strategy analysis
9.2. Emerging players and market lucrative
9.3. Mergers, acquisitions, agreements and collaborations
9.4. Supplier Competitiveness Matrix
10. COMPANY PROFILES
West Pharmaceutical Services, Inc.
Becton, Dickinson and Company
Boston Scientific Corporation
For more information on this report, please visit https://www.researchandmarkets.com/r/amxmah
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