The medication delivery solutions market was estimated at US$ 94.3 billion in 2021 and is anticipated to increase at a 6.8% CAGR to reach US$ 181.9 billion by the end of 2031.
According to Future Market Insights, the growth of the healthcare sector and the necessity for solutions to reduce financial losses brought on by counterfeiting practises are driving demand for drug delivery solutions.
According to the study, the healthcare sector has suffered significantly in recent years as a result of the recalls of pharmaceutical items due to numerous quality problems brought on by complicated supply chain problems.
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Hence, pharmaceutical product manufacturers are increasingly facing the challenge of maintaining cost levels while investing in advance solutions such as anti-counterfeit and track and trace technologies.
Subsequently, key players are continuously innovating their product development activities to come up with solutions that allow pharmaceutical manufacturers to save cost while also deliver value to consumers and end-users.
Solutions such as embedding repeated watermarks in flexible composite structures or multi-layer rigid packaging formats allow manufacturers to prevent anti-counterfeiting of pharmaceutical products.
Anti-counterfeit technology embedded in packaging maintains the integrity of packaging as well as pharmaceutical products throughout complex supply chains. Hence, manufacturers in pharmaceutical industry are increasingly demanding packaging solutions that have a cost-effective anti-counterfeit solutions.
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Temperature and Moisture Control Pharmaceutical Packaging to Assert Dominance
Biopharmaceutical industry faced losses of approximately US$ 35 billion due to temperature abuse in 2019. To maintain the stability and extend shelf-life of pharmaceutical products, extremely protective and active packaging are introduced by manufacturers.
High-quality, temperature and odor controlled, stabilizers, and moisture scavenging packaging is gaining immense popularity among pharmaceutical and healthcare solution providers. Manufacturing of embedded pharmaceutical packaging formats such as vials and ampoules, prefilled syringe and cartridges among others are expected to increase the demand for drug delivery solutions.
Key Takeaways
- In terms of product, bottles segment is expected to hold over 2/5th of the global market share in 2021.
- Vials and ampoules are expected to exhibit growth at a CAGR of 9.3% during the forecast period.
- Based on material, metal drug delivery solutions are expected to increase by 2.1x during assessment period.
- Injectable application is expected to generate incremental opportunity of US$ 30.8 Bn during the projection period of 2021-2031.
- Regionally, Europe is expected to account for over 24% of the total market value in 2021.
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Drug Delivery Solutions Market By Category
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
- Glass
- Metal
- Paper
By Applications:
- Nasal
- Pulmonary
- Injectable
- Eye Care
- Dermal/ Transdermal
- Other Applications
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