According to Fortune Business Insights, the Global Drug Delivery Market size is projected to reach USD 1,801.54 billion by 2026 by 2026, at CAGR of 7.4% during forecast period, Favorable Reimbursement Policies by Governments to Help North America Continue Dominance
The global drug delivery market size is forecasted to reach USD 1,801.54 billion by 2026, attributable to the rapid development of the pharmaceutical industry and the advent of drug delivery systems worldwide. The rising trend of digitalization in the pharmaceutical industry has propelled the demand for drug delivery systems for accurate, convenient, and systematic drug concentration for patients. As per a recently published report by Fortune Business insights™ titled, “Drug Delivery Market Size, Share and Industry Analysis, By Route of Administration (Injectable, Inhalation, Topical and Transdermal, Oral and Others), By Type (Conventional and Advanced), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others) and Regional Forecast, 2020-2026,” the size was USD 1,021.29 billion in 2018 and is likely to exhibit a CAGR of 7.4% between 2029 to 2026.
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Drug delivery refers to approaches, formulations, manufacturing techniques, storage systems, and technologies involved in transporting a pharmaceutical compound to its target site to achieve a desired therapeutic effect.
Key Industry Developments of Drug Delivery Market Include:
March 2019 The FDA approved Bidose Inhalation drug delivery device manufactured by Aptar Pharma. This device is meant for treating depression, as was approved as a breakthrough therapy by the US Food and Drug Administration.
August 2019 Insights Product Development and Nemera entered into a strategic collaboration for providing drug delivery services to patients in North America. This strategy will help strengthen the product portfolio of both the entry-level companies and collectively earn significant revenues from the market.
Which Factors Affect the Market Growth?
Rising Popularity of Smart Wearables will Aid in Expansion of Market
There has been a rise in demand for advanced drug delivery devices on account of increasing launch of innovative products, sufficing to consumer satisfaction and efficiency. This is a significant factor in boosting this Market growth. In addition, the advent of smart technology, user-friendly operations, and large volume doses are other factors aiding in the expansion of the market. Furthermore, the increasing popularity of wearables, insulin jets, ocular inserts, and others are likely to help the market gain impetus in the forecast period.
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Geographical Segmentation:
Favorable Reimbursement Policies by Governments to Help North America Continue Dominance
From a geographical viewpoint, the global Drug Delivery Market share is widespread into the regions of Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Among these, North America emerged dominant with a revenue generation of $428.0 billion in 2018. This is attributed to the favorable health reimbursement supported by the regional government, and increasing inclination towards elderly care.
On the other side, the growing population in nations such as India, and China, improving healthcare infrastructure, and the rising awareness about this market will help attract remarkable Market revenue in Asia Pacific during the forecast period.
List of MajorDrug Delivery MarketGrowth Manufacturers are as Follows:
- SHL Medical AG.
- Insulet Corporation
- Aptar Pharma
- Consort Medical plc
- BD
- Pfizer Inc.
- Nemera
- West Pharmaceutical Services Inc.
- Emergent Biosolutions Inc.
- Others
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- New Product Launch
- Pipeline Analysis
- Technological Advancements in the Drug Delivery Market
- Key Industry Developments – Mergers, Acquisitions, and Partnerships
- Global Drug Delivery Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast By Route of Administration
- Injectable
- Inhalation
- Topical and Transdermal
- Oral
- Others
- Market Analysis, Insights and Forecast By Type
- Conventional
- Advanced
- Market Analysis, Insights and Forecast By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Others
- Market Analysis, Insights and Forecast By Geography
- North America
- Europe
- Asia pacific
- Latin America
- Middle East and Africa
ToC Continue…!
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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Based on service, the global us home healthcare market is segmented into skilled nursing, rehabilitation therapy, hospice and palliative care, unskilled care, respiratory therapy, infusion therapy, and pregnancy care. The skilled nursing segment held the largest market share in 2020. However, the hospice and palliative care segment is expected to dominate the market by 2028. Hospice and palliative care segment are expected to grow during the forecast period owing to increasing jobs and services for nurses and caregivers. The growing advancements in medical devices are helping in offering training to the nurses to enhance their skills.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Worldwide Demand for Drug Delivery Market Is Growing Steadily and Is Expected to Ascend USD 1,801.54 billion by 2026 At Over 7.4% CAGR, says Fortune Business Insights
