Monday, May 29, 2023
  • About Us
  • Contact Us
KsaWeekly.com
  • News
  • Business
  • Finance
  • Technology
  • Lifestyle
  • Middle East
  • Press Release
Submit a News Release
No Result
View All Result
KsaWeekly.com
Submit PR
Home Press Release

Pharmaceutical Drug Delivery Market worth $2,206.5 billion by 2026

Press Room by Press Room
September 14, 2022
in Press Release
Share on FacebookShare on Twitter


(EMAILWIRE.COM, September 14, 2022 ) About Drug Delivery:

Drug delivery is the method or process of administration of a pharmaceutical drug to safely attain its desired therapeutic effect. Advancements in drug delivery technologies offer several benefits, such as ease of use, convenience, and patient compliance. Drug developers are focusing on suitable delivery and packaging options for increasing the efficiency of drugs and proposing improved patient compliance.

Pharmaceutical and biopharmaceutical companies are focusing on R&D to develop new molecules for various therapeutic applications and drug delivery platforms. The companies invest majorly in R&Ds with an aim to deliver high-quality and innovative products to the market. R&D spending by biopharmaceutical companies has also increased over the years.

Expected Revenue Surge:

The global pharmaceutical drug delivery market is projected to reach USD 2,206.5 billion by 2026 from USD 1,656.9 billion in 2021, at a CAGR of 5.9% during the forecast period.

Download PDF Brochure@

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1085

Driver: Growth in biologics market

Recognizing the potential for biologics manufacturing, companies, such as Evonik (Germany), have made several strategic developments. For instance, the company increased its production capacity by acquiring SurModics in 2021, which focuses on controlled-release parenteral applications. In addition, Evonik acquired complementary technologies, such as Boehringer Ingelheim’s RESOMER platform, to improve its capability in this market.

Similarly, in 2019, WuXi Biologics announced the launch of WuXi Vaccines, a joint venture with Shanghai Hile Bio-Technology Co., Ltd. The companies entered into the strategic partnership under which WuXi Vaccines will build a dedicated facility and supply a commercial product for the global market. The biopharmaceutical industry has witnessed the emergence of a new class of therapeutics, showing significant potential in new treatments in oncology, diabetes, and other disease areas.

Opportunity: Self-administration and home care

Self-administration and home care are expected to provide significant growth opportunities for players operating in the pharmaceutical drug delivery market. This is mainly due to the rising geriatric population, as elderly individuals form a large consumer base for drug delivery devices for home care. This factor is also increasing the need for application-specific injection, inhalation, topical, and transdermal drug products that are designed to cater to the needs of caregivers and patients.

Challenge : Pricing pressure

Government bodies in both developed and developing countries are encouraging cost-saving measures, such as cutting drug reimbursement prices and promoting the greater use of generics. Drug manufacturers across the globe are facing significant cost reduction pressures from government bodies, insurers, and patients. This downward pricing pressure is resulting in the greater uptake of drugs in emerging markets where the demand for low-cost therapeutics is high.

However, this is affecting the profitability of several pharmaceutical companies. This trend is expected to continue in the coming years owing to the continuous pressure for reducing pharmaceutical prices by insurers, pharmacy benefit managers (PBMs), and public and private payers due to concerns about covering more new medicines to treat prevalent conditions, such as high cholesterol and diabetes.

Asia Pacific is expected to account for the highest CAGR for players operating in the pharmaceutical drug delivery market

During the forecast period, the Asia Pacific is expected to be the fastest-growing regional market for pharmaceutical drug delivery. The rapid rise in the geriatric population, increased prevalence of chronic diseases, increased healthcare expenditure, increased R&D activities conducted in this region, growth in technological collaborations for pharmaceutical drug delivery technologies, favorable reimbursement policies, and growth in disposable incomes in the emerging Asian economies, such as China and India, are factors that are expected to drive the growth of the APAC market during the forecast period.

Request Sample Pages@

https://www.marketsandmarkets.com/requestsampleNew.asp?id=1085

Global Leading Players:

Major players in this market include Johnson & Johnson (US), Novartis International AG (Switzerland), F. Hoffmann-La Roche AG (Switzerland), Pfizer Inc. (US), Bayer AG (Germany), Antares Pharma, Inc. (US), Becton, Dickinson and Company (US), GlaxoSmithKline plc (UK), 3M (US), Merck & Co., Inc. (US), Sanofi (France), Amgen, Inc. (US), AbbVie Inc. (US), Genmab A/S (Denmark), Gilead Sciences, Inc. (US), Boehringer Ingelheim (Germany), AstraZeneca plc. (UK), Eli Lilly and Company (US), Teva Pharmaceuticals Industries Ltd. (Israel), Bristol-Myers Squibb (US), Gerresheimer AG (Germany), Boston Scientific Corporation (US), Nimbus Therapeutics (US), Kite Pharma (US), and IDEAYA Biosciences, Inc. (US).



Source link

Previous Post

Saudi influencer Model Roz stuns at New York Fashion Week – Arab News

Next Post

Adhesives & Sealants Market worth $85.8 billion by 2026

RECOMMENDED NEWS

Mobile Mapping Market is Projected to grow USD 66.7 billion in 2026, at a CAGR 19.5%

3 months ago
The Rising Demand for Plastic Coatings: Market Trends and Forecast

The Rising Demand for Plastic Coatings: Market Trends and Forecast

1 week ago

USD 15.7 billion by 2025

9 months ago

Saudi Fitness Time gym operator seeks to set up investment unit in Riyadh

11 months ago

BROWSE BY CATEGORIES

  • Business
  • Finance
  • Lifestyle
  • Middle East
  • News
  • Press Release
  • Technology

POPULAR NEWS

  • ZainTech partners with LigaData to deliver data-driven digital services in MENA

    ZainTech partners with LigaData to deliver data-driven digital services in MENA

    0 shares
    Share 0 Tweet 0
  • IoT in Manufacturing Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2026

    0 shares
    Share 0 Tweet 0
  • تم إطلاق VOYAH FREE في أوروبا وتم افتتاح معرض VOYAH.

    0 shares
    Share 0 Tweet 0
  • Vidliz Expands Its Data-Driven Online Marketing Services in the Middle East

    0 shares
    Share 0 Tweet 0
  • Saudi Arabia’s NuqtahNFT and ConsenSys partner to empower Web 3 startups

    0 shares
    Share 0 Tweet 0

KSA Weekly™ publishes and aggregates business, socio-economic, Tech and industrial news on Saudi Arabia, Middle East and North Africa (MENA).

We provide press release distribution to media in the Kingdom of Saudi Arabia, the Arab world and the GCC/MENA regions. To send your press release, contact us today.

Recent News

Recent Posts
  • Saudi Arabia executes 2 Bahraini men over militant activities; Amnesty called trial 'grossly unfair' – ABC News
  • Saudi Arabia, UAE poised to lead region's $6bn gaming sector: report – Arab News
  • Paragon Developments and Adeer Holding join forces to establish new venture paragon Saudi Arabia for strategic real estate investments – ZAWYA
  • Saudi Arabia executes 2 Bahraini men over militant activities; Amnesty called trial 'grossly unfair' – Devdiscourse
  • 23 Things To Do In 2023 In Saudi Arabia | About Her – About Her

Category

News

Business

Finance

Technology

Lifestyle

Middle East

Press Releases

Subscribe to Our Newsletter

    KSA Weekly ™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC

    • About Us
    • Contact Us
    • Submit a Press Release
    No Result
    View All Result
    • News
    • Business
    • Finance
    • Technology
    • Lifestyle
    • Middle East
    • Press Release

    © 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.