Drug Delivery Systems market is growing at a high cagr by 2027 according to a new research report by BD, Novo Nordisk A/S, 3M, Boston Scientific Corporation, Bausch Health Companies
The global drug delivery systems market accounted to US$ 1,243.1 Bn in 2018 and is expected to grow at a CAGR of 7.2% during the forecast period 2019 – 2027, to account to US$ 2,302.2 Bn by 2027.
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Asia Pacific is the fastest growing geographic market and it is expected to be the second largest revenue contributor throughout the forecast period. The growth is contributed majorly by driving factors such as significant rise in the prevalence of chronic diseases across the countries, rise in the government support for the patient population. In addition, the market players are also developing novel products in the countries through robust R&D activities and partnerships and acquisitions.
The List of Companies
BD (Becton Dickinson & Company)
Boston Scientific Corporation
Novo Nordisk A/S
Bausch Health Companies Inc.
Baxter International, Inc.
Johnson & Johnson Services, Inc.
Rising Incidence of Chronic Diseases
Over the past few decades, Research and development (R&D) in drug delivery devices is increasing across the globe due to increasing prevalence of chronic disease. Drug delivery is the method or process of administering a pharmaceutical compound to achieve a therapeutic effect in humans. Various routes of administration are being studied in order to treat these chronic diseases. According to the Centers for Disease Control and Prevention (CDC) in the 2019, almost 6 in 10 people in the US suffer from at least one chronic disease and 4 in 10 people have two or more chronic diseases.
Some important technological advantages of nanotherapeutic drug delivery systems (NDDS) include prolonged half-life, improved bio-distribution, increased circulation time of the drug, controlled and sustained release of the drug, versatility of route of administration, increased intercellular concentration of drug and many more.
Growing Demand for Non Invasive Drug Delivery Devices
With the improvements in medical devices and certain transdermal delivery technologies, the non-invasive mode of drug delivery is now ready to compete with traditional methods of oral and injectible routes of drug delivery. The Non-Invasive Drug Delivery Systems encompasses the broad field of non-invasive drug delivery systems which includes drug delivery via topical, transdermal-active (device- aided enhanced penetration), transdermal-passive, trans-ocular membrane, trans-mucosal membrane, as well as delivery via alveolar membrane from inhaled medication. Patient compliance has been found to be much higher when administrated by non-invasive routes due to decreased pain involved in drug delivery and therefore these techniques are considered to be a preferred mode of drug delivery.
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The global drug delivery systems market by product segments was led by oral drug delivery segment. In 2018, the oral drug delivery segment held a largest market share of 50.2% of the drug delivery systems market, by route of administration. The transmucosal segment is expected to be the fastest growing segments the market in 2027 owing to rapidly rising incidence of chronic disorders, including gastrointestinal, respiratory, and autoimmune disorders.
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