Drug Delivery Technologies Market - Growth Analysis, and Forecast To 2022 – by Credence Research
As reported by Credence Research, Inc. through their
latest publication “Global Drug Delivery Technologies Market -
Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 -
2022,” the drug delivery technologies market was valued at USD 175.95
Bn in 2015, and is expected to reach USD 284.71 Bn by 2022, expanding at a CAGR
of 6.9% from 2016 to 2022.
Browse the full report Global
Drug Delivery Technologies Market - Growth, Share, Opportunities, Competitive
Analysis, and Forecast, 2016 – 2022 at http://www.credenceresearch.com/report/drug-delivery-technologies-market
Market Insights
Patent expiry of several major drugs,
coupled with the expensive business of development of new chemical entity has
posed as a prime concern for pharmaceutical manufacturers. Development of new
chemical entity is often observed to be a more expensive affair than
development of novel delivery technology. Hence, several pharmaceutical
manufacturers have adopted new drug delivery technologies for their portfolio
as an effective life cycle management strategy.
The global drug delivery devices
market is studied for mode of administration and geography segmentations. Oral,
pulmonary, transdermal, injectable, nasal, implantable, and ocular, buccal etc.
cumulatively make the drug delivery technologies market. Among these, oral drug
delivery is the largest segment, followed by pulmonary drug delivery in 2015 at
a combined market share of over 65%.
Newer technologies through products
such as orodispersible tablets, transdermal patches, pen injectors, powder
inhalers and buccal tablets are among the most widely adopted products.
Additionally, the demand for drug eluting implants is also on a continuous rise
in the developed markets. Implantable drug delivery devices find application in
diabetes management, contraception, cardiology, pain management, pain
management and others.
Geographically, North America is the
largest regional market for drug delivery technologies. Well structured
reimbursement policies, large scale adoption of latest technologies, high
prevalence of chronic diseases and high level of awareness among both care
givers and patients are the prime contributors to the growth of North America
drug delivery technologies market. In terms of growth rate, Asia-Pacific and
Latin America are the fastest developing markets for drug delivery
technologies. Fast developing healthcare infrastructure, gradually rising
awareness and improving healthcare expenditure supplement the growth of
emerging markets.
Intense competition among drug
manufacturers to manage product life cycles of blockbuster drugs, and rising
trend of manufacturing outsourcing have made the drug delivery technologies market
fragmented. Merck, 3M Company, Johnson and Johnson, Becton Diskinson and
Company and others are some of the major players in the global drug delivery
technologies market.
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