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LONDON, Jan. 03, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s pharmaceutical drug delivery global market report 2024, the global pharmaceutical drug delivery market has exhibited robust growth, expanding from $1711.47 billion in 2023 to an estimated $1816.05 billion in 2024, reflecting a commendable Compound Annual Growth Rate (CAGR) of 6.1%. Looking ahead, the pharmaceutical drug delivery market is poised for strong growth, with projections indicating an increase to $2337.46 billion by 2028 at a CAGR of 6.5%. The pharmaceutical drug delivery market growth in the forecast period can be attributed to several factors, including the increasing demand for self-administration of drugs, the rising adoption of home healthcare, the growing demand for targeted drug delivery, the increase in the number of elderly people, and regulatory support for drug delivery technologies.

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Key Drivers and Trends:

One of the significant drivers behind the anticipated growth is the surge in demand for self-administration of drugs, driven by a preference for home healthcare. The adoption of targeted drug delivery, catering to specific patient needs, is contributing to the market’s expansion. Additionally, the growing number of elderly individuals and regulatory support for advanced drug delivery technologies further propel pharmaceutical drug delivery market growth.

The rising prevalence of chronic diseases is expected to play a pivotal role in the pharmaceutical drug delivery market’s trajectory. Chronic disease management relies heavily on patient adherence to medication regimens, and drug delivery technologies that simplify dosing or enhance convenience can significantly improve patient compliance.

A noteworthy trend in the pharmaceutical drug delivery market is the development of the iCinac Wireless Acidification Analyzer, a unique solution designed to monitor and analyze the acidification activity of Lactic Acid Bacteria (L.A.B.) in various cultures and fermented foods. This technological innovation enhances the understanding of the fermentation process, critical in the development and assessment of starter cultures.

Market Concentration and Key Players:

The global pharmaceutical drug delivery market is fairly concentrated, with the top ten competitors accounting for 27.01% of the total market in 2022. Prominent players, such as Pfizer Inc., AbbVie Inc., Johnson & Johnson, Merck & Co., Inc., and others, are strategically acquiring products and entering partnerships to consolidate their market positions globally. The market concentration is attributed to the presence of numerous players across different geographies.

Segments and Regions:

The pharmaceutical drug delivery market, covered comprehensively in this report, is segmented based on Route of Administration (Oral, Ocular, Pulmonary, Nasal, Injectable, Topical, and Other Routes), Application (Infectious Diseases, Cancer, Cardiovascular Diseases, Diabetes, Respiratory Diseases, Central Nervous System Disorders, Autoimmune Diseases, and Other Applications), and End-User (Hospitals, Home Care Settings, ASC/Clinics, and Other End Users). The oral segment dominated the market in 2023, accounting for 36.8% or $603.5 billion.

North America emerged as the largest region in 2023, capturing 47.4% or $777.2 billion of the total pharmaceutical drug delivery market, followed by Asia Pacific, Western Europe, and other regions. Moving forward, the fastest-growing regions are anticipated to be South America and Africa.

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In conclusion, the pharmaceutical drug delivery market presents lucrative growth opportunities, driven by evolving patient preferences, technological innovations, and the rising prevalence of chronic diseases. For businesses seeking to thrive in this dynamic pharmaceutical drug delivery market, the insights provided in this report are invaluable. Understanding market dynamics, regional trends, and segments will empower industry players to make informed decisions, strategically positioning themselves for success in this evolving market.

Pharmaceutical Drug Delivery Global Market Report 2024 by The Business Research Company provides insights on the pharmaceutical drug delivery market size, pharmaceutical drug delivery market segments, pharmaceutical drug delivery market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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