The global drug delivery market size is expected to reach USD 35.21 billion by 2030, according to a new study by Polaris Market Research. The report “Drug Delivery Market Share, Size, Trends, Industry Analysis Report, By Type; By Device Type (Conventional, Advanced); By Distribution Channel; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing elderly population worldwide is one of the primary factors driving the industry growth. The market is expanding due to consumers' growing demand for self-administration facilities and home care services. The expansion of the biologics industry and the rising consumer demand for these products also impact the industry. Chronic disease prevalence, population aging, advancements in the medical field, and rising awareness are all aspects that favorably impact the market for drug delivery.
Furthermore, the global market expansion is anticipated to be fueled by the increasing U.S. FDA's approval of new medications. For instance, the FDA approved the oral tablet form of LYTGOBI in 2022. LYTGOBI is a kinase inhibitor recommended for treating adult patients with intrahepatic cholangio-carcinomas that have undergone prior treatment, are unrespectable, have spread locally, or have metastasized and carry fusions of the fibroblast growth factor receptor 2 (FGFR2) gene or other genetic rearrangements.
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Technological developments in drug delivery systems are likely to drive the industry growth. For instance, Syed A.A. Rizvi et al., in their publication from 2022, state that the creation of medication formulations based on nanoparticles has opened up the possibility of addressing and treating complex disorders. Although nanoparticle size varies, it typically falls between 100 and 500 nm. The nanoparticles can be built into smart systems, encasing medicinal and imaging chemicals as well as bearing stealth properties by manipulating their size, surface properties, and material composition.
However, over the projection period, it is anticipated that strict regulatory rules, product recalls, and stability difficulties will limit the expansion of the studied market.
Drug Delivery Market Report Highlights
Polaris Market Research has segmented the drug delivery market report based on type, device type, distribution channel, and region:
Drug Delivery, Type Outlook (Revenue - USD Billion, 2018 - 2030)
Drug Delivery, Device Type Outlook (Revenue - USD Billion, 2018 - 2030)
Drug Delivery, Distribution Channel Outlook (Revenue - USD Billion, 2018 - 2030)
Drug Delivery, Regional Outlook (Revenue - USD Billion, 2018 - 2030)