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(Health-NewsWire.Net, October 27, 2020 ) Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of segments and sub segments.
The global Pharmaceutical Drug Delivery Process Market is projected to reach USD 2,015.3 billion by 2025 from USD 1,430.5 billion in 2020, at a CAGR of 7.1% during the forecast period. The factors supporting market growth include the rising prevalence of chronic diseases, growth in the biologics market, and technological advancements & new product launches.
Market Size Estimation:
The total market size for pharmaceutical drug delivery technology market was arrived at after data triangulation from two different approaches, as mentioned below:
# Approach to calculate the revenue of different players in the pharmaceutical drug delivery technology market.
# Approach to derive the market size and estimate market growth
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Data Triangulation:
After arriving at the overall market size from the market size estimation process, the total market was split into several segments and sub segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
In 2019, the infectious diseases segment accounted for the largest share
Based on application, the pharmaceutical drug delivery market is segmented into infectious diseases, cancer, cardiovascular diseases, diabetes, respiratory diseases, central nervous system disorders, autoimmune diseases, and other applications. In 2019, the infectious diseases segment accounted for the largest share of the pharmaceutical drug delivery market. The large share of this segment can be majorly attributed to the increasing prevalence of infectious diseases and increasing company initiatives to enhance R&D related to infectious diseases. Further, spread of COVID-19 has further propelled the market for this application.
Recent Developments:
# In 2020, Johnson & Johnson, Inc collaborated with Biomedical Advanced Research and Development Authority (BARDA), to expedite development and strengthen access through production of coronavirus vaccine.
# In 2020, Johnson & Johnson, Inc collaborated with MeiraGTx Holdings Plc (US) to develop, manufacture and commercialize its clinical stage inherited retinal disease drug portfolio.
# In 2019, Novartis signed an agreement with Shionogi (Japan) to commercialize new treatment, Rizmoic (Naldemedine) for Opiod-induced constipation in key European countries of Germany, UK and Netherlands, with rights of first refusal for some other European markets.
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Global Leaders:
The Pharmaceutical Drug Delivery Process Market is highly fragmented in nature with several big and emerging players. Johnson & Johnson, Inc. (US), Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd. (Switzerland), Bayer AG (Germany), Pfizer, Inc. (US), Sanofi (France), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), 3M (US), Antares Pharma, Inc. (US), and Becton, Dickinson and Company (BD) (US) are some of the leading players operating in the global pharmaceutical drug delivery.
Players in Pharmaceutical Drug Delivery Process Market pursue the strategies of product approvals, partnerships, agreements, collaborations, expansions, and acquisitions to develop and expand their market presence. Product approvals has been the key growth strategy adopted by players to expand their share in the market.
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