Dublin, Aug. 02, 2024 (GLOBE NEWSWIRE) -- The "Drug Delivery Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global drug delivery market demonstrates significant growth potential, with a recent valuation at US$835.217 billion in 2022. Marked by an upward trend, the market is expected to burgeon at a compounded annual growth rate (CAGR) of 8.90% during the forecast period, culminating in a projected market size of US$1,516.944 billion by 2029.
An upsurge in the prevalence of chronic diseases worldwide and technological advancements stand as prime contributors to the accelerated growth of the drug delivery market. The demand for efficient and targeted therapeutics has been bolstered by the current abrupt upswing in treatments for infectious diseases, most notably in light of the global Coronavirus pandemic.
In conjunction with heightened awareness and growing investment in healthcare infrastructure, there is an emerging cohort of niche devices and sophisticated systems designed to elevate the precision and control of drug administration.
Technological Advancements and Biologics
The rapidly evolving landscape of biologic drugs responds to an urgent need to address the rising tide of chronic illness, which affects millions and dominates mortality statistics. Investments in technological advancements and infrastructure, such as those seen in Singapore with substantial expenditures by prominent pharmaceutical players, are set to further invigorate the sector.
Challenges to Market Growth
Despite the optimistic outlook, certain challenges stand to curb the momentum. Prominent among these is the risk of needlestick injuries associated with injectable drug delivery—posing a significant health and safety concern and potentially impeding the market's expansion.
Strategic Developments
The market has witnessed key developments that signal robust activity and innovation. Recent regulatory clearances and product introductions across varied geographies denote a responsive and adaptive industry focused on comprehensive solutions ranging from diabetes management to Alzheimer's treatment.
Continual investment and research efforts into novel delivery technologies suggest a pattern of sustained market enhancement catered to meet the specialized needs of diverse medical applications.
Market Outlook
As the industry forges ahead, the global drug delivery market is characterized by a plethora of opportunities, particularly within developing economies poised for high growth trajectories. With myriad treatments and vaccines in the pipeline, the demand for drug delivery systems is projected to escalate in the ensuing years.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 132 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $835.22 Billion |
| Forecasted Market Value (USD) by 2029 | $1516.94 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
Companies Featured
- Pfizer
- Insulet Corporation
- West Pharmaceutical Services, Inc.
- Enable Injections
- Mersana Therapeutics
- Becton, Dickinson and Company
- Recipharm AB
- Medtronic
- Boston Scientific Corporation
For more information about this report visit https://www.researchandmarkets.com/r/fmfq5f
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