Drug Delivery Systems Market: Snapshot
Drug delivery includes formulations,
technologies, methods, and systems for transferring an active
pharmaceutical ingredients into the body to safely provide therapeutic
effect. The global drug delivery systems market was valued approximately
US$ 510 Bn in 2016 and is anticipated to expand at a CAGR of over 6.9%
from 2017 to 2025 to reach approximately US$ 900 Bn by 2025. Increase in
demand for self-administration and home health care devices are likely
to fuel expansion of the global drug delivery systems market from 2017
to 2025.
Continuous innovations in the global drug delivery systems market is
creating opportunities for major and local manufacturers to develop wide
product portfolio. Additionally, collaborations among major market
players for superior technological advancements in drug delivery
offerings is likely to drive the global drug delivery systems market
during the forecast period. Using nanotechnology, the drug can be
targeted to a precise location, which makes drugs more effective and
reduce the chances of possible side effects. Major manufacturers
operating in the market are involved in continuous research &
development activities to expand their already wide product portfolio.
For instance, on September 2017, Baxter International Inc. announced the
launch of DeviceVue, an asset tracking system for sigma spectrum
infusion system whereas, emerging players operating in the market are
also focusing on introducing new versions of their existing drug
delivery devices. Continuous expansion of drug delivery systems offering
in high throughput along with reduced waiting time and improved result
specificity are likely to drive the global drug delivery systems during
the forecast period. However, high cost associated with treatment and
increase in drug recalls are likely to restrain the global drug delivery
systems market during the forecast period.
The global drug delivery systems market has been segmented based on
delivery system, application, route of administration, and geography. In
terms of delivery system, the targeted drug delivery segment is
projected to continue its dominance during the forecast period followed
by the polymeric drug delivery segment. Introduction of new drug
delivery devices such as SmartDose wearable injector and increase in
demand for targeted and low dose frequency drug delivery is likely to
propel the segment. Based on application, oncology was the leading
revenue generating segment in 2016 and it is likely to continue its
dominance during the forecast period due to the increase in prevalence
of various types of cancer. According to WHO report, in the year 2015,
around 70% of cancer-related deaths occurred in low- and middle- income
countries. The infectious diseases segment is likely to lose market
share during the forecast period owing rise in preference to develop
oncology and diabetes drug delivery system by manufactures. In terms of
route of administration, injectable dominated the market in 2016 and is
likely to account for a leading share during the forecast period.
Geographically, North America accounted
for a leading share of the global drug delivery system market in 2016.
However, rise in research & development expenses for advanced drug
delivery devices in the U.S. is key concern area among key players. The
market in Asia Pacific is projected to gain share during the forecast
period and is likely to be key revenue generator in the next few years.
Initiatives by local governments for self-sufficiency in manufacturing
pharmaceuticals and prevalence of various diseases in countries such as
Brazil, South Africa, Saudi Arabia, etc. are anticipated to boost market
in Latin America and Middle East & Africa.
Key companies operating in the global drug delivery systems market
and profiled in the report include AstraZeneca plc., Bayer AG, Pfizer,
Inc., Novartis AG, Amgen Inc., Johnson and Johnson Services, Inc.,
Baxter International, Inc., Boston Scientific Corporation, and Becton,
Dickinson & Company. These players adopt organic and in-organic
growth strategies to expand their product offerings, strengthen their
geographical reach, increase customer base, and garner market share. For
instance, in June 30, 2017, the F. Hoffmann-La Roche Ltd. acquired
mySugr, a company that is dedicated to developing applications and
software for diabetes care.
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