May 08, 2020
As per the report titled ‘Global Top 10 Drug Delivery Technologies Market Size study, by Drug Delivery Technologies (Topical, Oral Time Release/Sustained Release, Targeted Delivery, Encapsulation, Aerosol/Inhalation, Transdermal, Implants, Injectable, Liposomal, Pegylation ) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global top 10 drug delivery technologies market was worth USD 111.5 billion in 2018 and is projected to expand with 11% CAGR during 2019-2026.
Drug delivery is a method of administering a pharmaceutical compound for a therapeutic impact in humans and animals. Drug delivery systems are built technologies for the targeted delivery and regulation of therapeutic agents. These technologies improve the drug life cycle by extending patent rights and boosts drug safety & effectiveness.
Rising need for efficient delivery of novel biopharmaceuticals and pharmaceuticals compounds in tandem with innovations in the field are primary growth drivers of global top 10 drug delivery technologies market. In addition, patent expiration of drugs is further enhancing the market growth.
As per the FDA product module in 2018, FDA approved drug delivery route for injections increased by 35% amounting to 40 approvals, while the oral drug delivery approvals accounted for 59, an increase of 52%. Increasing number of FDA approvals coupled with growing adoption of self-administration technologies and home-care drug delivery devices are expected to augment the industry growth. However, drug failures and technical challenges may hinder the market growth during the forecast period.
From a regional perspective, North America currently accounts for a significant market share and is poised to display strong growth trends over the forecast timeline owing to various technological innovations such as drug polymer conjugates.
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Drug delivery technology industry in Asia Pacific is slated to exhibit a robust growth in the forthcoming years on account of factors such as rising per capita income, growing patient awareness, and improving healthcare infrastructure.
Major players in global top 10 drug delivery technologies market are Elan Corporation, Altea Therapeutics Inc., Alkermes, Inc., A.P. Pharma, Inc., Antares Pharma Inc., Applied Pharma, Baxter Biopharma, Aradigm Corporation, Bioject Inc., and Becton, Dickinson & Company.