Drug Delivery Solutions Market is projected to reach US$ 181.9 Billion by the end of 2031 – Comprehensive Research Report by FMI
Drug Delivery Solutions Market – Analysis, Outlook, Growth, Trends, Forecasts
DUBAI, United Arab Emirates, Jan. 20, 2022 (GLOBE NEWSWIRE) — The global drug delivery solutions market size was valued at US$ 94.3 Bn in 2021 and is projected to reach US$ 181.9 Bn by the end of 2031, exhibiting growth at 6.8% CAGR between 2021 and 2031.
Expansion of healthcare industry and need for solutions to control the loss in financials caused due to counterfeiting practices is propelling the demand in the Drug Delivery Solutions Market, finds Future Market Insights.
As per the study, the healthcare industry witnessed a major decline over the past few years as pharmaceutical products are recalled for various quality errors arising out of complex supply chain issues.
| Drug Delivery Solutions Market Size 2021 | US$ 94.3 Bn | |
| Drug Delivery Solutions Market Size 2031 | US$ 181.9 Bn | |
| Value CAGR (2021-2031) | 6.8% | |
| Collective Value Share: Top 3 Countries (2021E) | 33% | |
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Hence, pharmaceutical product manufacturers are increasingly facing the challenge of maintaining cost levels while investing in advance solutions such as anti-counterfeit and track and trace technologies.
Subsequently, key players are continuously innovating their product development activities to come up with solutions that allow pharmaceutical manufacturers to save cost while also deliver value to consumers and end-users.
Solutions such as embedding repeated watermarks in flexible composite structures or multi-layer rigid packaging formats allow manufacturers to prevent anti-counterfeiting of pharmaceutical products.
Anti-counterfeit technology embedded in packaging maintains the integrity of packaging as well as pharmaceutical products throughout complex supply chains. Hence, manufacturers in pharmaceutical industry are increasingly demanding packaging solutions that have a cost-effective anti-counterfeit solutions.
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Scope of the Report
| Attribute | Details |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2015-2020 |
| Market Analysis | US$ Million for Value, Mn Units for Volume |
| Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia, MEA, Oceania |
| Key Countries Covered | US, Canada, Brazil, Germany U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia, GCC Countries, and South Africa |
| Key Segments Covered | Product type, Material, Application and Region |
| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Temperature and Moisture Control Pharmaceutical Packaging to Assert Dominance
Biopharmaceutical industry faced losses of approximately US$ 35 billion due to temperature abuse in 2019. To maintain the stability and extend shelf-life of pharmaceutical products, extremely protective and active packaging are introduced by manufacturers.
High-quality, temperature and odor controlled, stabilizers, and moisture scavenging packaging is gaining immense popularity among pharmaceutical and healthcare solution providers. Manufacturing of embedded pharmaceutical packaging formats such as vials and ampoules, prefilled syringe and cartridges among others are expected to increase the demand for drug delivery solutions.
Key Takeaways
- In terms of product, bottles segment is expected to hold over 2/5th of the global market share in 2021.
- Vials and ampoules are expected to exhibit growth at a CAGR of 9.3% during the forecast period.
- Based on material, metal drug delivery solutions are expected to increase by 2.1x during assessment period.
- Injectable application is expected to generate incremental opportunity of US$ 30.8 Bn during the projection period of 2021-2031.
- Regionally, Europe is expected to account for over 24% of the total market value in 2021.
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Plastic is a Blessing in Disguise for Drug Delivery Solutions Market
Glass has been traditionally used in the manufacture of pharmaceutical packaging solutions, including bottles, ampoules, and vials.
However, there has been a gradual adoption of plastic as an alternative material solution and introduction of blow fill seal (BFS) technology. In order to capitalize on this trend, major drug delivery solution producers are providing plastic packaging solutions.
The delicate and heavy weight characteristics of the glass makes a challenge in the transport and shipping of the products in a long and complex supply chain in the pharmaceutical industry. Therefore, glass pharmaceutical packaging products are mostly being fill-in by packaging products made of plastics, including PET, HDPE, LDPE, PVC, and PP.
Plastics are cost-effective and easy to procure, to apply across product ranges, and convenient to transport. Plastic pharmaceutical packaging offers cost savings to stakeholders across the value chain, including manufacturers, wholesalers, suppliers, and end-users.
Plastics have also allowed fast-paced advancement in technology, including injection blow-molding, extrusion blow-molding, and 3-D design software for design improvement. Hence, manufacturers are extensively using plastic for drug delivery solutions.
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Drug Delivery Solutions Market Landscape
Some of the players involved in the manufacturing of Amcor Plc, Schott AG, Gerresheimer AG, Berry Global, Inc., Klockner Pentaplast Group, Becton, Dickinson and Company, Ardagh Group S.A., West Pharmaceutical Service, Inc., Bilcare Limited, Wipak Group, Mondi Plc, Sealed Air Corporation, Constantia Flexibles, Clondalkin Group Holdings B.V., West Rock Company, UDG Healthcare plc, Catalent, Inc., Sonocco Products Company, Reike Corporation, Adelphi Healthcare Packaging, Nipro Corporation, Uflex Ltd., ACG Pharmapack Pvt. Ltd., Piramal Glass Limited, Parekhplast India Ltd., Shandong Pharmaceutical Glass Co., Ltd., Avesta Continental Pack, Shanghai Tongpeng Electric Material Co., Ltd., Khemka Glass, and TPAC Packaging India Private Limited (Sunpet).Tier one players are expected to hold 15% to 20% of the global drug delivery market.
Explore FMI’s Extensive ongoing Coverage on Packaging Domain
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