Drug Delivery Systems Market to Expand at a CAGR of 6.9% from 2017 to 2025
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Key players introduce new drugs delivery systems and devices in developed markets such a North America and Western Europe. Hence, these regions are likely to account for dominant share of the global drug delivery system market. Rise in R&D investment and launch of new and advanced technologies in emerging markets such as Japan and India are expected to boost the drug delivery system market in Asia Pacific. The market in the region is expected to expand at a CAGR of around 7.6% from 2017 to 2025.
The report offers detailed segmentation of the global drug delivery system market based on delivery system, application, route of administration, and geography. In terms of delivery system, the targeted drug delivery segment is expected to account for a dominant share of the global market during the forecast period. Simplified drug administration protocols, avoidance of first pass metabolism, lower dose required as compared to the conventional drug delivery, and higher therapeutic effect in small doses are some factors propelling the segment. The polymeric drug delivery segment is likely to expand at a considerable growth rate during the forecast period. Polymeric drug delivery systems allow localized drug delivery in large quantity for the treatment of chronic diseases such as cancer (more specifically, solid tumors) with lower toxicity. This is a major factor driving the segment.
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Based on application, the oncology segment is projected to hold a dominant share of the global drug delivery system market during the forecast period. It is likely to expand at CAGR of more than 7.4% from 2017 to 2025. Dominance of this segment is attributed to continuous innovations in drug offerings and wide product portfolio of major and local manufacturers. For instance, in September, 2017, Amgen Inc. and ALLERGAN collectively obtained FDA approval for the use of MVASI to treat five types of cancer, which includes metastatic carcinoma of the cervix, metastatic renal cell carcinoma, glioblastoma, metastatic colorectal cancer (mCRC), and non-squamous non-small cell lung cancer (NSCLC).
Continuous launch of new products and increase in the number of patients in developed and developing countries are likely to drive the segment between 2017 and 2025. According to WHO report, in 2015, around 8.8 million people died of cancer, of which, around 1.69 million died of lung cancer and 788,000 succumbed to liver cancer. This highlights the significant need for advanced drug delivery system to treat cancer. CAN and diabetes segment, accounted for more than 36.0% share of global drug delivery system market in 2016, in terms of value. It is anticipated to have substantial growth and account for approximately 36% of market share by 2025.
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In terms of value, North America was leading contributor to the global drug delivery system market in 2016. North America accounted for a key share of the market due to rise in prevalence of acute and chronic diseases in the U.S. According to WHO report 2016, non-communicable diseases accounted for 23% of total deaths in the U.S. Moreover, availability of advanced technology and facilities in the health care system also drive the drug delivery system market in the U.S. Moreover, rise in research & development spending in emerging markets such as Singapore and Japan is fueling the market in Asia Pacific.
Economic growth in countries such as Brazil is increasing health care expenditure through the rise in private health insurance and entry of international drug manufacturers and health care providers in Latin America. Hence, the market in the region is likely to expand at a CAGR of 5.5% from 2017 to 2025.
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