Pharmaceutical Drug Delivery Market – Impact of COVID19 on the Global Industry Revenue

PUNE, India, 2021-Jan-28 — /EPR Network/ —

Coronavirus has spread across 215 countries and territories and affected more than 4.4 million people, with close to 300 thousand deaths. Due to the COVID-19 outbreak, we are estimating that the share of infectious diseases segment has increased and is anticipated that this segment will grow significantly during the forecast period. COVID-19 has given momentum to drug delivery market and it will show significant growth rate during 2020-2021

The outbreak of COVID-19 has been increasing at an exponential level in many countries. This has led to the need to improve patient care and provide added nutritional/immunity support (including vitamins and other curing drugs) to patients affected by the virus. This has led to an increased adoption of drugs, such as vit C, multivitamin, antiviral and so on, which in turn is expected to support market growth to a certain extent

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Coronavirus has spread across 215 countries and territories and affected more than 4.4 million people, with close to 300 thousand deaths. Due to the outbreak of COVID-19 globally, medical practices of all sizes are under immense pressure, and healthcare providers need to rely on teleradiology solutions to read diagnostic reports and treat patients. Teleradiology solutions also help to improve the efficiency of diagnostic imaging by optimizing and simplifying radiology with correct reads and reduced manual errors. As the battle against COVID-19 continues, there is a growing need to make teleradiology solutions more common.

There are large number of drugs and vaccines in various clinical trial phases which are expected to be launched in coming months/years under emergency usage authorization guidelines for treating COVID-19. As of May 2020, two vaccines are in Phase I clinical evaluation and 11 in pre-clinical stage. About 95 clinical studies are on-going for COVID-19 as potential drug therapies. Such strong pipeline is anticipated to drive the growth of this market.

Expected Revenue Growth:

The Pharmaceutical Drug Delivery Solutions 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.

Major Revenue Growth Boosters:

Growth in Pharmaceutical Drug Delivery Market is mainly driven by the rising prevalence of chronic diseases, growth in the biologics market, and technological advancements and new product launches. Due to the outbreak of corona virus globally, there is a sudden rise in the demand for pharmaceutical drugs largely in infectious application.

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Market Size Estimation:

The total market size for pharmaceutical drug delivery 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 Solutions Market

• Revenues for individual companies operating in the pharmaceutical drug delivery technology market were gathered from public sources and databases
• Share of each product type of leading players was gathered from secondary sources to the extent available. In certain cases, the share of pharmaceutical drug delivery technology business has been ascertained after a detailed analysis of various parameters, including the product portfolio, market positioning, and geographic reach & strength, among others
• Individual shares or revenue estimates were validated through expert interviews
• The impact of COVID-19 was assessed using the quarterly reports of the companies and applied to the global market for impact assessment

Approach to derive the market size and estimate market growth

• As a part of the primary research process, an individual respondent’s insights on the market size and market growth were taken during the interview (regional and global, as applicable)
• All the responses were collated, and a weighted average was taken to derive a probabilistic estimate of the market size and growth rate

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