Drug and Gene Delivery Systems Market will exhibit a CAGR of 6% between 2017 and 2025

The global drug and gene delivery systems market was valued over US$ 510 Bn in 2016 and is projected to register a compounded annual growth rate (CAGR) of over 6% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled “Drug and Gene Delivery Systems Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. The report suggests that the rising demand for advanced drugs led by increased prevalence of chronic and acute diseases worldwide is enhancing drug discovery operations and the research in the fields of pharmaceuticals and biotechnology. This is likely to drive the of drug and gene delivery systems market in the next few years (from 2017 to 2025).

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The global drug and gene delivery systems market is expanding due to emerging, new and advanced technologies and increasing demand for targeted drug delivery at a low dosing frequency. Rise in R&D investments and increase in the demand for self-administration and home health care devices are some other factors driving the global market. However, high cost of the treatment and increase in drug recalls are some of the major restraints for the global drug and gene delivery systems market. North America and Europe are projected to dominate the global drug and gene delivery systems market in the next few years, owing to increase in manufacturers’ focus on business expansion in these regions. Players are continuously developing advanced drugs as well as delivery systems for drugs and genes and entering into distribution agreements to strengthen their foothold in the market in North America and Europe. Growing adoption of technologically advanced products manufactured by local manufacturers such as Intas Pharmaceuticals Ltd. is likely to drive the drug and gene delivery systems market in Asia Pacific during the forecast period. The market in the region is expected to register a CAGR of over 7% from 2017 to 2025.Targeted Drug Delivery Segment dominates Market, followed by Polymeric Drug Delivery Segment

The report offers detailed segmentation of the global drug and gene delivery systems market, which is based on delivery system, route of administration, and application. Based on delivery system, the market has been segmented into drug delivery systems and gene delivery systems. Among drug delivery systems, the targeted drug delivery sub-segment is poised to account for a leading market share from 2017 to 2025. Factors responsible for the major share held by the sub-segment include increased demand for a rapid and accurate therapeutic action with less side-effects. The targeted drug delivery sub-segment is likely to register a higher growth rate in terms of value during the forecast period, owing to continuous innovations in product technologies by major market players. Among gene delivery systems, the viral gene delivery sub-segment is projected to account for a major market share from 2017 to 2025, due to factors such as increased incidence of genetic disorders with a different pattern of inheritance. The sub-segment is likely to register a higher growth rate in terms of value during the forecast period.

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Oncology and CNS: Top Two Application Areas of Drug and Gene Delivery Systems

Among applications, the oncology segment is projected to hold a dominant share of the global drug and gene delivery systems market during the forecast period. It is likely to expand at a high CAGR from 2017 to 2025. Major factors responsible for the dominance of this segment are continuous innovations in drug and gene delivery systems and wide product portfolio of major as well as local manufacturers. For instance, in February 2018, Becton, Dickinson and Company launched PAXgene, a circulating cell-free DNA blood collection tube for pre-natal cancer testing application. Such continuous launches of new products and significantly expanding base of cancer patients in developed as well as developing countries are likely to drive the oncology segment between 2017 and 2025. According to JAMA oncology, in the year 2015, around 17.5 million new cancer cases were detected globally and around 8.8 million deaths were caused by cancer, which means nearly one in every six deaths was caused by cancer. The urology segment of the drug delivery systems market is projected to expand at a CAGR of above 6%, while the urology segment of the gene delivery systems market is estimated to expand at a CAGR of above 7% during the forecast period. CNS and diabetes segments collectively accounted for more than 31.0% share of the global drug and gene delivery systems market in 2016, in terms of value.

Injectable and Oral: Top Two Routes of Administration of Drug and Gene Delivery Systems

Among routes of administration, the injectable segment is projected to hold a dominant share of the global drug and gene delivery systems market by the end of the forecast period and is likely to expand at a high CAGR from 2017 to 2025. Technological advancements and advantages offered by the injectable route in terms of drug delivery are a few major factors driving the segment. For instance, in 2017, Somatuline Depot (lanreotide) injectable formulation was approved by the U.S. FDA for the treatment of acromegaly. Some other drivers include continuous innovations in drug and gene delivery systems and wide product portfolio of major as well as local manufacturers. For instance, in September 2017, Baxter International Inc. launched DeviceVue, an advanced asset-tracking system for Sigma Spectrum Infusion System. The inhalation segment of the drug delivery systems market is projected to expand at a CAGR of above 6%, while the inhalation segment of the gene delivery systems market is likely to expand at a CAGR of above 7% during the forecast period.

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Growth of Asia Pacific Drug and Gene Delivery Systems Market likely to be hinged at China, Japan

In terms of value, North America led the global drug and gene delivery systems market in 2016. Increased demand for drug and gene products and risen prevalence of chronic and acute diseases such as cancer and diabetes among people in the U.S. are factors responsible for the major share held by North America in the global market. However, high cost of treatment and increase in drug recalls are likely to hamper the market in the region between 2017 and 2025. Healthcare spending in emerging markets such as China and India is rising, which is fuelling the Asia Pacific drug and gene delivery systems market. Economic growth of countries in Latin America such as Brazil is augmenting the health care expenditure in the region, through rise in private health insurance and entry of international drug manufacturers and health care providers in the region. This factor is likely to propel the Latin America drug and gene delivery systems market from 2017 to 2025.

Highly Consolidated Market with Top Players accounting for a Major Share

The report also provides profiles of leading players operating in the global drug and gene delivery systems market including Novartis AG, Amgen Inc., Becton, Dickinson and Company (BD), Oxford BioMedica plc, and SIBIONO. These players offer a wide range of products. For instance, Novartis AG offers both drug delivery systems and gene delivery systems. Becton, Dickinson and Company (BD) provides drug delivery systems for a wide range of diseases. Amgen Inc. offers advanced drug delivery products as well as gene delivery products. Expansion of the portfolio of drug and gene delivery products through partnerships to improve efficacy and quality of products is a growing trend currently observed in the global drug and gene delivery systems market. For instance, in January 2017, 3M Drug Delivery System collaborated with Panacea Pharmaceuticals, a therapeutic drug development company, for the delivery of an investigational therapeutic cancer vaccine. Other prominent players operating in the global drug and gene delivery systems market include Epeius Biotechnologies Corporation, Boston Scientific Corporation, Human Stem Cells Institute, Baxter International, Inc., and AstraZeneca plc

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This release was published on openPR.