Europe Drug Delivery Market - Forecast from 2021 To 2026

The European drug delivery market is expected to grow at a compound annual growth rate of 6.89% over the forecast period to reach a market size of US$267.916 billion in 2026, from US$168.050 billion in 2019. Drug delivery refers to a process of transferring drugs or therapeutic chemicals into the human body either manually or through the drug delivery systems via nasal, oral, or skin contact. Increasing public spending on healthcare, developing Research and Development, advancement of technology, growing age-related diseases, and rising prevalence of chronic diseases are some of the drivers for the European drug delivery market.

Besides that, increasing biologics markets are also the key contributor to the growing European drug delivery market. Biologics is a special and powerful drug that is used to slow down or stop damaging inflammation. The growth in the Biologics market can be witnessed through the example of Evonik recently acquiring the RESOMER platform to increase its market share in the segment. The major challenge for the growth of this industry is the increasing pricing pressure mainly due to high research costs attributed to drug development.

Increase in Chronic and Infectious Diseases:

The increase in chronic and infectious diseases is one of the primary drivers of the European drug delivery market. In addition to Europe's Cancer Beating Plan, the European Commission is also working on the key areas of cardiovascular diseases, diabetes, mental health, neurological disorders, and chronic respiratory diseases that are the major causes of death in Europe. The increasing chronic diseases have given rise to a new delivery system, CRDDS (Controlled Release Drug Delivery System) which is a very reliable method that uses an appropriate amount of drug dosage and releases it in a predetermined area.

Infectious diseases have witnessed a sudden outbreak and are emerging at a rate never seen before. In the last 5-6 decades, World has witnessed contagious diseases like SARS, Ebola, Swine Flu, MERS, Zika, chikungunya, and recently COVID-19 which has brought in the need to introduce more disease-specific drugs to the market. With the history kept in mind, the outbreak of diseases in the future needs to be overpowered by a strong drug-delivering market in the coming years.

Increasing Research and Development to play a key role in European Drug Delivery Market:

Research and development, although is a time-consuming and costly process is expected to play a key role in the development of the European drug market. Companies like Pfizer, Bayer AG, etc. are known to have been engaged in severe research projects and as a result, have added substantially to the scientific knowledge and medical technology advancements in the drug market. For instance, Pfizer's development on Molecular glues that can hijack the body's garbage disposable system is expected to become a different drug paradigm as it can open several possibilities especially when it shows a great promise for transcription factors that are very difficult to target.

Impact of COVID-19 Pandemic on the Europe Drug Delivery Market:

With the outbreak of the COVID pandemic, the European drug-delivering market witnessed loss stages initially. As per European Pharmaceutical Review, an outbreak of COVID 19 was followed by fewer walk-ins in drug retail shops which brought about a loss in profit. Later, when the market witnessed a surge in the demand or panic buying for chronic disorder pharmaceuticals which increased the demand by 9%, the supply shortage made it difficult to fulfill the demand chain that became a serious concern and burden for the healthcare sector. In the first wave, along with the decline of non-essential surgeries, the demand for treatments also dropped which negatively impacted the market.

But this initial hit was almost fully compensated till the second wave in Europe when the production of the pharmaceutical sector increased significantly. As per the Policy Department for Economic, Scientific, and Quality of Life Policies, the retail in pharmaceutical increased by 12% as compared to April which implies that until September the drug and pharmaceutical sector recovered by 98%.

With the increasing AI, huge investments in Research and Development, and technological advancement especially in the COVID vaccines, the European drug, and pharmaceutical sector is experiencing to witness significant growth in the coming years. For instance, Pfizer and MPP are ready to enable the access of oral antiviral treatment in 95 countries.

Segmentation:

By Type

• Inhalation Drug Delivery
• Injectable Drug Delivery
• Nasal Drug Delivery
• Oral Drug Delivery
• Transdermal Drug Delivery

By Application

• Treatment of diseases
• Research/Academic purposes

By Geography

• U.K.
• Germany
• Switzerland
• France
• Spain
• Italy
• Other