The global drug delivery solutions market is anticipated to reach a valuation of US$ 107.5 billion in 2023, driven by increasing investments in research and development. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.8% between 2023 and 2033, and reaching a total valuation of approximately US$ 207.6 billion by 2033.
The expansion of India’s healthcare industry is poised to significantly impact the demand for drug delivery solutions, with the nation projected to contribute over 41% to the South Asia drug delivery solutions market by 2033. The implementation of advanced healthcare facilities and cost-effective manufacturing practices in India is creating a favorable environment for the drug delivery solutions market.
Core Concepts in the Drug Delivery Solutions Industry
- Material Type with High Potential: Plastics segment holds significant revenue potential.
- Dominant Countries: India and Japan are leading the global market.
- Growth Forecast (2033): The market is expected to grow at a CAGR of 6.8%.
- Historical Performance (2018-2022): The market recorded a CAGR of 3.4%.
- Top Trend: Expansion in home healthcare services is a key trend shaping the market.
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Another factor driving the growth of the drug delivery solutions market is the favorable government regulations and investments. Governments across the globe are recognizing the importance of innovative drug delivery solutions in improving healthcare outcomes and reducing healthcare costs. They are implementing favorable regulations and policies to encourage the development and adoption of advanced drug delivery technologies. Increased investments in research and development by pharmaceutical companies and venture capitalists are escalating the market growth.
Key Takeaways from the Market Study
- Global drug delivery solutions market was valued at US$ 100.7 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.4%.
- India is expected to hold a dominant CAGR of 6.7% during the forecast period.
- By product type, the bottles segment is expected to constitute a CAGR of 6.7% in 2033.
- On the basis of application, the injectable segment is expected to dominate the market with a CAGR of 6.6% in 2033.
- From 2023 to 2033, drug delivery solutions market is expected to flourish at a CAGR of 6.8%.
- By 2033, the market value of drug delivery solutions is expected to reach US$ 207.6 billion.
Rising demand for biologics & gene therapies, across the globe is a major factor that is expected to propel the growth of the drug delivery solutions market in the near future, remarks an FMI analyst.
Competitive Landscape
Prominent players in the drug delivery solutions market are
- Amcor Plc,
- SCHOTT AG,
- Gerresheimer AG,
- Berry Global Group Inc.,
- Mondi Plc,
- Sealed Air Corp.,
- Wipak Group,
- Constantia Flexibles,
- Ardagh Group SA,
- Sonoco Products Company,
- West Pharmaceuticals Services Inc.,
- WestRock Company,
- UFlex Ltd., and
- Parekhplast India Ltd.,
- among others.
Recent Developments:
- In April 2023, Bayer received approval from the FDA for a new extended-release tablet formulation of its oral contraceptive. The extended-release formulation allows for once-daily dosing, offering improved convenience and compliance for women.
- In February 2023, Teva announced the launch of a new autoinjector device for the delivery of its biologic therapy for multiple sclerosis. The autoinjector provides a precise and controlled injection, improving patient convenience and adherence to treatment.
- In October 2022, GlaxoSmithKline announced the FDA approval of a new intranasal formulation of its influenza vaccine, FluLaval. The intranasal formulation offers a needle-free alternative for flu vaccination, particularly for individuals who have a fear of needles.
- In September 2022, AstraZeneca announced the launch of a new autoinjector device for the administration of its biologic therapy for severe asthma. The autoinjector provides a user-friendly and precise delivery system for patients.
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Key Segments:
By Product Type:
- Bottles
- Packer Bottles
- Liquid Bottles
- Vials & Ampoules
- Blisters
- Bags & Pouches
- Prefilled Syringes & Cartridges
- Sachets
- Trays
- Tubes
- Caps & Closures
- Container, Jars & Others
By Material:
- Plastics
- PE
- LDPE
- HDPE
- PVC
- PP
- PS
- PET
- Others
- PE
- Glass
- Metal
- Paper
By Applications:
- Nasal
- Pulmonary
- Injectable
- Eye Care
- Dermal/ Transdermal
- Other Applications
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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