Driving factors for the Market
Drug delivery devices market includes medical devices that inject drugs and chemicals into the body. Some of the most common drug delivery devices are oral, pulmonary, transmucosal, injectable, topical, implantable, ocular and nasal among others. These devices are used for diagnosis, treating cures and preventing patient from disease like bacterial diseases, allergies, diabetes, etc.
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Advancements in drug delivery systems, increasing affordability and availability of these devices, and increasing number of chronic diseases globally, especially in geriatric population, are some prevalent factors to boost the demand of the drug delivery devices market share. Other than these, mounting development and commercialization of biologics for therapeutic indication is likely to add new opportunities for this market in the coming years. Growing demand for home health care devices and self-administration are likely to fuel expansion of the global drug delivery devices market.
To overcome the boundaries of needle-based injections, introduction of needle free technology was introduced. The global injectable drug delivery devices are categorized into devices, auto-injectors & pen injectors and needle free technology. On the basis of route of administration, the market is categorized into intravenous, intramuscular, sub cutaneous and intraperitoneal.
The global drug delivery devices market has advanced over the six decades; initially pills were emphasized on, but in the last twelve years, drugs delivery have made its way to nano-technology and self-regulated systems. With the advent of biologics surfacing ad biosimilars in the market, manufacturers have the scope to innovate with designing complex delivery methods. As both the industries pharmaceutical and medical devices compete with each other, companies have turned toward drug delivery devices industry as it’s an opportunity to differentiate their portfolio. This has helped the global drug delivery devices market to reach US xx $ Bn in 2016, and is anticipated to register a CAGR of xx% from 2018 to 2025.
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Benefits of Drug Delivery Market
One of the key advantages of drug delivery devices is that they allow the drug to aim at the specific site of action. These are facilitates with more localized drug effect. Drugs which are meant to be site-specific reduces undesired side effects. For instance UroGen Pharma has partnered with Allergan (manufacturer of Botox) to develop a drug delivery system that injects botulinum toxin to the bladder, through intravesical instillation to cure urinary incontinence. UroGen’s drug delivery system amalgamates Botox with RTGel, which possesses thermosensitive properties. The gel has mucoadhesive properties, when applied to the urinary bladder, adheres to the bladder wall and eventually dissolves due to the water solubility and biocompatibility, thus offers a sustained release of Botox. Delayed excretion of the drug will have longer-lasting effect. Hence, improving treatment efficacy.
Drug delivery devices market is beneficial to manufacturers as the development of drug delivery devices can extent the patent protection on a drug. For instance, GlaxoSmithKline’s patent on Advair— kind of drug used for the treatment of chronic obstructive pulmonary disease and asthma attacks —validity expired in 2010. However, the company was able to augment six years of protection with help of separate patent on its Diskus inhaler used for lungs.
Regional Overview of Market
Geographically, from the past few years, North America is leading in the drug delivery systems market share. However, the factor hampering the growth in the U.S is expenses of advanced drug delivery devices research and development. Initiatives taken by local governments for self-sufficiency in manufacturing and prevalence of diseases in countries like South Africa, Brazil, Saudi Arabia, etc. is expected to garner market in Middle East & Africa and Latin America.
The drug delivery device market size in APAC is expected to project upwards during the forecast period and possibly going to be key revenue generator. Japan’s growth graph have up scaled due to the increased understanding of drug metabolism, increasing prevalence of chronic diseases, growing geriatric population, availability of reimbursement for majority of the population and increased preference in therapy especially for cancer. Major companies having presence in the APAC drug delivery devices market include Terumo Corp, GlaxoSmithKline, Boehringer Ingelheim GmbH, AstraZeneca Plc, and Baxter International.
Key Players of Market
Globally, top-notch services come from the companies like AstraZeneca plc., Pfizer, Inc., Bayer AG, Johnson and Johnson Services, Novartis AG, Amgen Inc., Inc., Baxter International, Inc., etc. These players typically opt for organic and in-organic growth strategies to strengthen their geographical reach, expand product offerings, garner market share and increase customer base.
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This post was originally published on Info Street Wire