The global drug delivery market has witnessed significant growth over the last few years, driven by technological advancements, changing healthcare demands, and an increasing emphasis on patient-centered treatments. This market, which involves the methods and technologies used to administer therapeutic substances to the body, plays a crucial role in improving the efficacy, safety, and convenience of medications.
In this blog, we’ll explore the key trends driving the drug delivery market, the innovations shaping the future, and the potential challenges the industry faces.
The drug delivery market encompasses a broad range of products and technologies designed to enhance the bioavailability, precision, and compliance of therapies. This includes traditional methods such as oral delivery and injections, as well as more advanced systems like transdermal patches, inhalation, and implantable devices.
According to recent market report by BCC Research, the global market for drug discovery technologies is expected to grow from $111.9 billion in 2024 and is projected to reach $197.0 billion by the end of 2029, at a compound annual growth rate (CAGR) of 12.0% during the forecast period of 2024 to 2029. The increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular conditions is one of the primary drivers of this expansion. Moreover, the aging population, growing interest in personalized medicine, and the surge in biologics and biosimilars have further fueled the demand for innovative drug delivery systems.