Pharmaceutical Drug Delivery Market to hit USD 3.2 Trillion by 2032, says Global Market Insights Inc.
Pharmaceutical Drug Delivery industry is anticipated to register 7% CAGR between 2023 and 2032 due to growth in the biologics market.
Selbyville, Delaware, May 03, 2023 (GLOBE NEWSWIRE) —
The pharmaceutical drug delivery market value is predicted to reach over USD 3.2 trillion by 2032, according to a new research report by Global Market Insights Inc.
Technological developments are expected to support the production of a novel, user-friendly, accurate, and patient-friendly pharmaceutical delivery systems. Major pharmaceutical companies are pumping funds into R&D in order to produce cutting-edge and new drug delivery systems, like needle-free injectors, implants, nanotechnology, and peptide encapsulation.
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A surge in demand for effective eye treatments is projected to fuel market gains
Pharmaceutical drug delivery market from the ocular drug delivery segment to expand at 7% CAGR by 2032. Liquid formulations, semi-solid formulations, and ocular devices are the three categories of ocular drug delivery systems. Eye drops and liquid sprays are included in the liquid formulations. The eye ointments and gels make up the semi-solid formulations.
Ocular devices are used to treat eye conditions such as amblyopia, diabetic retinopathy, and cataracts. Fast absorption rates, homogeneous medication delivery, and simple administration are some of the benefits of ocular drug delivery. In 2023, ENTOD Pharmaceuticals launched a new ocular aesthetic range that helps improve eye comfort.
Browse key industry insights spread across 850 pages with 1650 market data tables & 17 figures & charts from the report, Pharmaceutical Drug Delivery Market – By Route Of Administration (Oral, Injectable, Self-Injectors, Topical, Pulmonary, Nasal, Transmucosal), By Application (Infectious Diseases, Cancer, Cardiovascular, Diabetes, Autoimmune Disease), Facility Of Use (Hospitals, Clinics, Home Care Settings, Diagnostic Centers) – Global Forecast to 2032 in detail along with the table of contents:
Increasing burden of cardiovascular disease on healthcare systems
Pharmaceutical drug delivery industry from the cardiovascular diseases segment is set to exhibit over 7.2% CAGR by 2032. Cardiovascular diseases have become more common and are estimated to be responsible for 17.9 million fatalities annually. Drug delivery plays a vital role in the overall treatment of cardiovascular diseases. Oral drug delivery, injectable drug delivery, and implanted drug delivery are some of the popular options that can be used for successful therapy.
A surge in patient footfall across diagnostic centers
Pharmaceutical drug delivery market from the diagnostic centers segment to cross over USD 194.5 billion by 2032. The market for diagnostic centers has grown due to the increasing frequency of infectious and chronic disorders. Infectious diseases like the COVID-19 virus, among others, are influencing the rate of disease spread. Diagnostic centers help patients suffering from such diseases recover with an appropriate treatment plan.
Development of new products in the Europe region
Europe pharmaceutical drug delivery industry to grow over USD 792.5 billion by 2032. The growing elderly population and rising healthcare spending will aid in market outlook. Additionally, the market will develop technologically advanced products for the healthcare sector. Large pharmaceutical manufacturers are also located across Europe, which will support the regional industry expansion.
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Competitive landscape of the global pharmaceutical drug delivery market
Pfizer Inc., GILEAD SCIENCES, INC., Johnson & Johnson, AbbVie Inc, Eli Lilly and Company, Merck & Co. Inc., Sanofi, Amgen, Inc., AstraZeneca plc, and Bayer AG, are some of the key players in the market.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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