Pharmaceutical Drug Delivery Global Market Opportunities and Strategies to 2033

This report describes and explains the pharmaceutical drug delivery market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global pharmaceutical drug delivery market reached a value of nearly $1.63 trillion in 2023, having grown at a compound annual growth rate (CAGR) of 6.9% since 2018. The market is expected to grow from $1.63 trillion in 2023 to $2.26 trillion in 2028 at a rate of 6.7%. The market is then expected to grow at a CAGR of 6.4% from 2028 and reach $3.09 trillion in 2033.

Growth in the historic period resulted from increase in biologics, rise in healthcare awareness, increased prevalence of chronic diseases, growing use of telemedicine services, rising healthcare expenditure and increased pharmaceutical research and development (R&D) spending. Factors that negatively affected growth in the historic period was product recalls.

Going forward, rise in targeted cancer therapies, rising prevalence of chronic diseases, growing growth in elderly population, increasing government support, increase in healthcare access will drive the growth. Factor that could hinder the growth of the pharmaceutical drug delivery market in the future include reductions in free trade.

The pharmaceutical drug delivery market is segmented by route of administration into oral, ocular, pulmonary, nasal, injectable, topical and other routes. The oral market was the largest segment of the pharmaceutical drug delivery. market segmented by route of administration, accounting for 36.8% or $603.5 billion of the total in 2023. Going forward, the topical segment is expected to be the fastest growing segment in the pharmaceutical drug delivery market segmented by route of administration, at a CAGR of 7.7% during 2023-2028.

The pharmaceutical drug delivery market is segmented by application into application into cancer, infectious diseases, central nervous system disorders, respiratory diseases, cardiovascular diseases, musculoskeletal disorders, metabolic disorders and other applications. The other applications market was the largest segment of the pharmaceutical drug delivery market segmented by application, accounting for 27.9% or $457.2 million of the total in 2023. Going forward, the metabolic disorders segment is expected to be the fastest growing segment in the pharmaceutical drug delivery market segmented by application, at a CAGR of 8.8% during 2023-2028.

The pharmaceutical drug delivery market is segmented by end-user into hospitals, home care settings, ambulatory surgery centers/clinics and other end users. The hospitals market was the largest segment of the pharmaceutical drug delivery market segmented by end-user, accounting for 44.4% or $727.6 billion of the total in 2023. Going forward, the home care settings segment is expected to be the fastest growing segment in the pharmaceutical drug delivery market segmented by end-user, at a CAGR of 7.1% during 2023-2028.

North America was the largest region in the pharmaceutical drug delivery market, accounting for 47.4% or $777.2 billion of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the pharmaceutical drug delivery market will be South America and Africa where growth will be at CAGRs of 11.9% and 10.8% respectively. These will be followed by Middle East and Asia Pacific where the markets are expected to grow at CAGRs of 10.5% and 8.2% respectively.

The global pharmaceutical drug delivery market is fairly concentrated, with a large number of players operating in the market. The top ten competitors in the market made up to 27.01% of the total market in 2022. The market concentration can be attributed to the presence of large number of players in different geographies. Prominent players are acquiring the products and entering into partnerships with the other companies to consolidate their market positions across the globe, while others are distributing products. Pfizer Inc. was the largest competitor with a 5.21% share of the market, followed by AbbVie Inc with 3.06%, Johnson & Johnson with 2.77%, Merck & Co., Inc. with 2.74%, Sanofi with 2.67%, Novartis AG with 2.50%, F.Hoffmann-La Roche AG with 2.45%, AstraZeneca Plc with 2.34%, GlaxoSmithKline Plc with 1.93% and Eli Lilly and Company with 1.34%.

The top opportunities in the pharmaceutical drug delivery market segmented by route of administration will arise in the oral segment, which will gain $231.2 billion of global annual sales by 2028. The top opportunities in the pharmaceutical drug delivery market segmented by application will arise in the other applications segment, which will gain $210.4 billion of global annual sales by 2028. The top opportunities in the pharmaceutical drug delivery market segmented by end-user will arise in the hospitals segment, which will gain $275.5 billion of global annual sales by 2028. The pharmaceutical drug delivery market size will gain the most in the USA at $205.6 billion.

Market-trend-based strategies for the pharmaceutical drug delivery market include focus on advancements in acne treatment formulations to expand their product portfolio and drive revenues, focus on advancements in enteric drug delivery technology to help their industries and strengthen their product portfolio, focus on investing in technologies to develop next-generation biologics such as ADCs, bispecifics, fusion proteins, and cell and gene therapy that will be more effective, focus on next-generation API solubilization solutions to expand their product portfolio and drive revenues and focus on strategic collaborations and acquisitions.

Player-adopted strategies in the pharmaceutical drug delivery market include focus on expanding operations by new drug developments and focus on enhancing its operational capabilities through new drug approvals.

To take advantage of the opportunities, the analyst recommends the pharmaceutical drug delivery companies to focus on enteric drug delivery innovation, focus on advancing next-generation biologics, focus on next-generation API solubilization solutions, focus on expanding in topical and pulmonary segments, expand in emerging markets, continue to focus on developed markets, focus on diversifying distribution channels, provide competitively priced offerings, focus on strategic pricing strategies for market competitiveness, participate in trade shows and events, continue to use B2B promotions, focus on targeted promotional strategies for market penetration, focus on oncology and respiratory segments for market expansion and focus on home care settings and hospitals.