Drug delivery system is a method in which the therapeutic substances are delivered through general route of administration to obtain the therapeutic effect in humans or animals. The correct dose of drugs release their functional ingredients in the targeted area at the appropriate time. Drug delivery technologies helps to improve the absorption, distribution, elimination, and drug release profile for developing the product safety and efficiency. Drug delivery technologies are considered an important aspect of pharmaceutical products which are often used by pharmaceutical companies for extending the product’s lifecycle.
Drug Delivery Technologies Market Drivers
Increasing prevalence of chronic diseases, growing demand for biologics, technological advancements, and new product launches are some of the factors driving the growth of the market. According to the National Center of Biotechnology Information (NCBI), in 2018, around 45%, or 133 million, Americans were affected by one of the chronic diseases.
Moreover, the Capsugel, a global leader in delivering high quality, innovative dosage forms to the healthcare industry, launches the new drug delivery system as per the commitment to innovate for their costumer. For instance, in October 2015, Capsugel announced the global commercial launch of its enTRinsic drug delivery technology, providing full enteric protection and targeted release of gastric acid and heat sensitive active ingredients to the upper gastrointestinal tract.
Furthermore, in April 2019, Aquestive Therapeutics, Inc. announced that the U.S. Food and Drug Administration (FDA) accepted the company’s New Drug Application (NDA) for their investigational product, Riluzole oral film (ROF), which the company intends to market under the brand name, Exservan. ROF is used for treatment of amyotrophic lateral sclerosis (ALS). ROF is delivered through a postage stamp sized film which dissolves in the mouth. The FDA had designated orphan drug status to the drug in January 2018.
However, risk factors such as needle stick injuries and side effects of drugs are restricting the market growth to a certain level. According to a 2014 estimate by the Occupational Safety and Health Administration (OSHA), 5.6 million workers in the healthcare industry are at a risk of needle sticks and sharps related injuries which expose the workers to blood borne pathogens.
Drug Delivery Technologies Market - Regional Insights
On the basis of region, the global drug delivery technologies market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds dominant position in the global drug delivery technologies market, owing to the launch and adoption of novel technologies. For instance, in January 2019, Amneal Pharmaceuticals received the U.S. Food and Drug Administration (FDA) approval for its generic Exelon patch used for treatment of Alzheimer disease through the transdermal drug delivery.
Drug Delivery Technologies Market - Competitive Landscape
Key players operating in the global drug delivery technologies market are focused on innovations related to drug delivery technologies, in order to improve patient compliance. For instance, in July 2018, Merck Pharmaceuticals and InnoCore Pharmaceuticals entered into a global collaboration agreement for InnoCore’s proprietary SynBiosys biodegradable polymer platform. The drug delivery technologies are used to develop sustained release solutions for biologicals in injectable formulations. The sustained release solutions play important role in drug formulation because it improve the patient adherence.
Some of the key players operating in the global drug delivery technologies market includes 3M, Bayer AG, Becton, Dickinson & Company, Johnson & Johnson, Pfizer, Inc., Novartis AG, Glaxosmithkline PLC, Vectura Group Plc., Roche Holding AG, Generex Biotechnology, Antares Pharma, Inc., Alkermes, Merck & Co., Inc, and Sanofi, Aradigm Corp.
Drug Delivery Technologies Market - Market Taxonomy
On the basis of route of administration, the global drug delivery technologies market is segmented into:
On the basis of end user, the global drug delivery technologies market is segmented into:
On the basis of region, the global drug delivery technologies market is segmented into: