Pharmaceutical drug delivery is referred as transfer of drug into the patient’s body for the therapeutic effect (treatment). Drug delivery system is classified into two types such as conventional drug delivery system and novel drug delivery system. Conventional drug delivery system includes the most common methods of drug delivery through various routes such as oral (through mouth), topical (skin), and Transmucosal (nasal, buccal, sublingual, vaginal, rectal, and ocular). This system will help to modify absorption, distribution, metabolism, and elimination of drugs for the patient’s convenience.
Novel drug delivery system includes the sustained release (SR) drug and controlled release drug. Sustained release indicate slow release of drug and controlled release means where speed of drug release is controlled. These are helpful for maintaining drug level into the blood and improve targeted drug release.
Global Pharmaceutical drug Delivery Market Drivers
Increasing approval of new drugs from U.S. FDA is expected to drive growth of the global pharmaceutical drug delivery market. For instance, in April 2019, the U.S. Food and Drug Administration (FDA) announced the approval of Duobrii (contains-halobetasol propionate and tazarotene), which is used for the treatment of plaque psoriasis. It is manufactured by Ortho Dermatogics Company.
Furthermore, new product launches is expected to boost the global pharmaceutical drug delivery market. For instance, in August 2018, Sanofi Genzyme launched new drug (Aubagio) for the treatment of multiple sclerosis. Aubagio offers once-a-day treatment and ease of convenience for the patient.
Moreover, in April 2019, Pfizer launched trastuzumab (trazimera) for the treatment of metastatic HER2 (Human Epidermal Growth Factor2)-positive breast cancer and HER2-positive metastatic gastric cancer. Hence, these products are expected to boost the global pharmaceutical drug delivery market.
Global Pharmaceutical Drug Delivery Market Restraints
Drug shortage is projected to hamper growth of the global pharmaceutical drug delivery market. For instance, according New York Times report in February 2019, Buspirone HCL Tablets -7.5mg manufactured by Accord Healthcare Inc. was on shortage, due to high demand for the drug for the anxiety treatment.
Furthermore, in September 2018, Union Health Ministry of India banned 328 FDC (Fixed Dose Composition) drugs due to irrational use of FDC drugs. Some other examples of banned drugs-Aceclofenac (SR) + Paracetamol 750, Aceclofenac + Paracetamol + Famotidine, naproxen plus paracetamol. Such ban of drugs will affect growth of global pharmaceutical drug delivery market.
Global Pharmaceutical Drug Delivery Market- Regional Analysis
On the basis of region, global pharmaceutical drug delivery market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global pharmaceutical drug delivery market, owing to increasing research and development activities in the region. For instance, in April 2019, Abbvie Pharmaceutical received an approval from U.S. Food and Drug Administration (FDA) for a new drug known as SKYRIZI (risankizumab), which is used for the treatment of Plaque Psorisis.
Furthermore, Asia Pacific is also projected to witness significant growth in the global pharmaceutical drug delivery market during the forecast period, owing to increasing new launches of products. For instance, in April 2019, Glenmark launched its anti-diabetic medicine (SGLT2 inhibitor Remogliflozin) in India. This drug is used for the treatment of type-2 diabetes mellitus in adults. It is administered via oral route.
Key players operating in the global pharmaceutical drug delivery market include Johnson and Johnson, Merck & Co, Inc., Bayer AG, Pfizer, Inc., Novartis AG, Sanofi, Antares Pharma, Inc., Accord Healthcare, Inc., Abbott, and GSK.
Global Pharmaceutical drug Delivery Market-Taxonomy
By Route of Administration
By End User