Northbrook, IL 60062 -- (SBWIRE) -- 12/16/2022 -- According to global research report "Pharmaceutical Drug Delivery Market by Route of Administration (Oral, Injectors, Implantable, Syrups, Gels, Pulmonary, Solutions, Tablets, Syringes), Application (Cancer, Diabetes), Facility of Use (Hospitals), COVID-19 Impact - Global Forecast to 2026", published by MarketsandMarkets™, The 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. The growth of the pharmaceutical drug delivery market can largely be attributed to factors such as the rising prevalence of chronic diseases, growing biologics market, increasing R&D investments, and technological advancements & new product launches.

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Key Market Players

The global pharmaceutical drug delivery market is highly competitive, with many leading market players based in developed countries. The prominent players in this market are 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).

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The leading position of Johnson & Johnson (J&J) (US) in this market is due to its strong brand recognition. The company focuses on adopting organic as well as inorganic growth strategies to expand its presence in the drug delivery technology market. For instance, in April 2020, Janssen Pharmaceutical Companies collaborated with Emergent BioSolutions to support the manufacturing and expansion of its investigational COVID-19 vaccine. Janssen aims to supply over a billion doses of their vaccine worldwide. In January 2019, Janssen (J&J) collaborated with MeiraGTx Holdings (US) to develop, manufacture, and commercialize its clinical-stage inherited retinal disease drug portfolio.

F. Hoffmann-La Roche Ltd. (Switzerland) was the third-largest player in the pharmaceutical drug delivery market. In order to strengthen its position in the pharmaceutical drug delivery market, the company focuses on receiving approvals for various therapeutic applications. Some of its recent product approvals include Tecentriq (atezolizumab) for the treatment of Liver Cancer, metastatic non-squamous non-small cell lung cancer (NSCLC); Venclexta (venetoclax) for the treatment of people with newly-diagnosed acute myeloid leukemia (AML), Chronic lymphocytic leukemia; Polivy for Lymphoma, and Xofluza (baloxavir marboxil) for the treatment of flu (influenza).

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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.