Europe Pharmaceutical Drug Delivery Market to Witness Rapid Growth in Coming Years
Growing prevalence of
infectious diseases including COVID-19 to drive the growth of Europe
pharmaceutical drug delivery market
According to
TechSci Research report, “Europe Pharmaceutical Drug
Delivery Market By Formulation (Conventional Drug Delivery, Novel
Drug Delivery), By Route of Administration (Oral, Injectable, Topical, Ocular,
Pulmonary, Nasal, Transmucosal, Implantable), By Application (Infectious
Diseases, Cancer, Cardiovascular Diseases, Diabetes, Respiratory Diseases,
Central Nervous System Disorders, Autoimmune Diseases, Others), By End User (Hospitals,
Home Care Settings, ASC/Clinics, Others), By Country, Forecast &
Opportunities, 2025”, the market is anticipated to
grow at a healthy CAGR during the forecast period on account of increasing
prevalence of infectious and contagious diseases including Ebola, chikungunya,
SARS, MERS, avian flu, swine flu, and the most recent outbreak, COVID-19. As
the cases of coronavirus are still on rise, there is a high demand for essential
life-saving devices and other essential medical supplies in order to prevent
the spread of this pandemic. This is also serving as a major growth factor for
pharmaceutical drug delivery market in Europe. Moreover, increasing healthcare
expenditure and improving patient compliance is acting as key growth driver for
Europe pharmaceutical drug delivery market. In addition to this, favorable reimbursement
policies, coupled with surging research & development activities in
healthcare sector are expected to propel the market growth in coming years.
Furthermore, technological advancements in drug
delivery systems are fueling the growth of Europe pharmaceutical drug delivery
market. Also, entry of new market players and increasing export of healthcare
products and services are augmenting the growth of this market. However, the
risk of needlestick injuries might hamper the growth of Europe pharmaceutical
drug delivery market. Moreover, manufacturers across the region are facing
significant cost reduction pressures from governments, which is anticipated to impede
the market growth.
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Europe pharmaceutical
drug delivery market is segmented based on formulation, route of
administration, application, end user and country. Based on route of
administration, the market can be segmented into oral, injectable, topical,
ocular, pulmonary, nasal, transmucosal and implantable. Among these, the
injectable segment accounted for largest market share in 2019. However, the
topical segment is expected to register fastest CAGR during the forecast period
on account of gradual shift of patient preference towards new transdermal
delivery systems. Also, rising number of patients suffering from various skin
diseases are creating high demand for topical route of administration in
Europe.
Based on
application, Europe pharmaceutical drug delivery market can be categorized into
infectious diseases, cancer, cardiovascular diseases, diabetes, respiratory.
diseases, central nervous system disorders, autoimmune diseases and others.
Among these, cancer held largest share in 2019. However, the infectious
diseases segment is anticipated to dominate the Europe pharmaceutical drug
delivery market through 2025 owing extensive vaccine development activities
being carried out in the region.
Major players operating in the Europe
pharmaceutical drug delivery market include Novartis AG, F. Hoffman-La Roche
AG, GlaxoSmithKline plc, Bayer AG, Sanofi S.A. , MERCK KGaA, Pfizer Inc.,
Johnson & Johnson, 3M United Kingdom PLC and Becton, Dickinson and Company.
The market players are adopting growth strategies such as product innovation, acquisitions
and expansions to create their stronghold in the market.
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“As the battle
against coronavirus continues, pharmaceutical drug delivery market is facing
spike in demand and is under extreme pressure. Additionally, there are large
number of vaccines as well as drugs in various clinical trial phases. With such
a strong pipeline, the market is expected to reflect huge growth potential in
coming years. Also, governments across various European nations have increased
investment in R&D activities, which is anticipated to foster the growth of
pharmaceutical drug delivery market through 2025,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Europe Pharmaceutical Drug Delivery Market By
Formulation (Conventional Drug Delivery, Novel Drug Delivery), By Route of
Administration (Oral, Injectable, Topical, Ocular, Pulmonary, Nasal,
Transmucosal, Implantable), By Application (Infectious Diseases, Cancer,
Cardiovascular Diseases, Diabetes, Respiratory Diseases, Central Nervous System
Disorders, Autoimmune Diseases, Others), By End User (Hospitals, Home Care
Settings, ASC/Clinics, Others), By Country, Forecast & Opportunities, 2025” has evaluated the future growth potential of Europe pharmaceutical
drug delivery market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in Europe pharmaceutical drug
delivery market.
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