Global Drug Delivery Technology Market - Growth and Trend Industry Outlook
DecisionDatabases.com adds a new report "Global Drug Delivery Technology Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast" offering the complete market analysis and growth trends from 2015 to 2022. The report also discusses the major companies operating in the drug delivery technology industry and provides their detailed profile. The report offers details about the drivers, restraints and growing opportunities in the industry.
Drug delivery technology simplifies the dosage regimen of the drug by altering the release of medicine and facilitates optimum safety and efficacy. It also reduces the side-effects and helps in boosting patient compliance. This technology offers an attractive approach for drug delivery with varied molecular formulation. The drug delivery technology is expected to maximize the effect of drug delivery at the specific site so as to enhance the efficiency of the medicine. The major growth drivers of this market are increasing incidences of chronic illness such as diabetes, cardiovascular disease and cancer, technological advancements and innovation of faster drug delivery methods. The rising demand for home health care and self-administration devices coupled with expanding focus on geriatric and paediatric patients has also influenced the market demand and is expected to have a positive impact on the drug delivery technology market over the coming years. However, rising patient expiration of drugs and rising prevalence of side effects from modern drugs are key restraints, which may hinder market growth in the near future.
The growing biologics market and recent innovation to improving this technology has fuelled the market demand for the drug delivery technology. In February 2015, Mankind Corporation and Sanofi, an American company, collaborated to introduce Afrezza, an insulin inhalation powder for the human. This collaboration has enabled the organizations to reinforce their product portfolio in drug delivery and has boosted the market growth in the near future. Changing lifestyle preference due to rapid urbanization and rising demand for minimally invasive operations are anticipated to further aid the market growth over the forecast period.
The global drug delivery technology market has been segmented based on route of administration into oral drug delivery (solid, liquid and semi-solid), pulmonary drug delivery (metered dose inhaler, dry powder inhaler and nebulizers), injectable drug delivery (formulations and devices), ocular drug delivery (liquid, semi-solid and ocular devices), nasal drug delivery (nasal drops, nasal sprays, nasal powder and nasal gels), topical drug delivery (liquid, semi-solid, solid and transdermal), implantable drug delivery (active implantable drug delivery and passive implantable drug delivery) and trans mucosal drug delivery (oral trans mucosal and others). The topical drug delivery is a leading technology segment and is projected to grow at a significant rate over the forecast period on account of its beneficial properties such as convenience to use, right dosage delivery to the right place, non-invasive, painless, and superior spread ability. The global drug delivery technology market has been segmented further based on end user into hospitals, diagnostic centres, home care settings, ambulatory surgical centres/clinics, and other end users.
Asia Pacific is expected to be the fastest-growing market and is expected to witness a substantial growth in the near future owing to the burgeoning population, rising occurrence of chronic diseases and existence of unmet healthcare needs in the emerging economy. Rising disposable income, developing healthcare infrastructure, growing options of health insurance, and increasing prevalence of chronic disorders are some other factors which contribute to the market growth in the Asia-Pacific region. Europe and North America are anticipated to grow at a sluggish rate over the forecast period, primarily due to rising saturation in the market.
The key industry players include Bayer AG, Johnson & Johnson Services, Inc., Novartis AG Pfizer, Inc., F. Hoffmann-La Roche Ltd., 3M Company, Antares Pharma, Inc., GlaxoSmithKline PLC, Merck & Co., Inc., and Sanofi.
In October 2015, Capsugel, a leading healthcare solutions provider, had announced the global launch of its enTRinsic™ drug delivery technology to provide targeted release of gastric acid to the upper gastrointestinal tract, without the requirement for functional coatings.
In September 2015, Starpharma announced its collaboration with a global pharmaceutical company AstraZeneca for the commercialisation and development of AstraZeneca family of targets using Starpharma’s DEP® drug delivery technology.
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