Visiongain has published a new report entitled the Drug Delivery Technologies Market Report 2021-2031. It includes profiles of Drug Delivery Technologies and Forecasts By Technology (Oral, Injectable, Topical, Pulmonary, Implantable, Ocular, Others Drug Delivery Technologies) Market Segment by Indication (Infectious Diseases, Cancer, Cardiovascular Diseases, Diabetes, Respiratory Diseases, Central Nervous System Disorders, Other Diseases) Market Segment by End-User (Hospitals, Homecare Settings, Others). PLUS Regional Market Analysis And COVID-19 Recovery Scenarios.
Visiongain’s lead analyst says: ‘The global drug delivery technologies market accounted for US$1,451.50 billion in 2020 and is expected to grow at a CAGR of 8.25% during the forecast period2021-2031 to reach US$3,425.52 billion by 2031’.
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Rising geriatric population, increasing prevalence of chronic and infectious diseases, escalating investment in drug R&D by biopharmaceutical companies, rising demand for advanced drug delivery technologies for chronic treatment are some of the major factors that drive the growth of the global drug delivery technologies market.
How has COVID-19 had a significant negative impact on the Drug Delivery Technologies Market?
The COVID-19 pandemic has a significant negative impact on the Drug Delivery Technologies drug market globally. The COVID-19 outbreak in 2020 led to international border controls, country-wide lockdowns, pharmaceutical manufacturing restrictions & limitations. This pandemic has hampered the production and distribution of Drug Delivery Technologies.
COVID-19 would undoubtedly influence chronic and infectious diseases patients and their care for the near future. Creating support networks for physicians and patients will help to break down walls and provide patients with appropriate access to potentially life-saving services. Companies are concerned about the COVID-19 epidemic's impact on supply and demand. All these factors are having a negative impact on the drug delivery technologies sector, pushing the pharmaceutical industry and regulators to re-examine pharmaceutical supply chains.
How this Report Will Benefit you?
Visiongain’s 532+ page report provides 356 tables and 352 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global drug delivery technologies market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for drug delivery technologies. Get the financial analysis of the overall market and different segments including therapy type, product & services, indication, and testing assay type and capture higher market share. We believe that high opportunity remains in this fast-growing drug delivery technologies market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits soon. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
Rise in consumption of drugs is expected to propel the demand for advanced drug delivery technology. According to the WHO, the prevalence of chronic illness cases is expected to increase by 57%, with higher illness cases in low- & middle-income nations. Additionally, the outbreak of pandemics in the current & past such as COVID19, SARS, Ebola, MERS, and H1N1 have added to the upsurge in drug consumption and vaccination.
Usage convenience and cost-effectiveness of drug delivery technology further driver the market adoption. Pharmaceutical companies like Pfizer, Roche, Novartis, GSK, and BDC are constantly investing in development of drug delivery systems to enhance the oral bioavailability of novel medicines using varied excipients. Also, the rising number of patients with chronic diseases along with growing healthcare awareness is projected to boost the demand for Drug Delivery Technologies.
Where are the market opportunities?
Rising adoption of self-administrative drug delivery methods is gaining popularity. Technological advantages are supporting the development of drug delivery methods that are easily understood and conveniently used by patients without constant supervision of medical practitioner. So, drug makers are drifting from conventional drug delivery techniques to the innovative and enhanced delivery techniques, thereby improving the drug solubility, dispersion, and targeting within the patient.
Escalating investments in drug development are creating opportunities for biopharmaceutical companies to innovate novel drug delivery techniques that offer higher solubility of drugs with self-administration. For increasing the efficacy of novel drugs, the companies develop the transportation system as well, which encourages the private and the public funding agencies to invest in research of drug delivery system. In 2020, Novus Therapeutics, entered into a second phase for clinical trial for its OP0201 product. The drug is developed is combination of surfactant molecule and nasal aerosol technique device.
The major players operating in the drug delivery technologies market are Novartis AG, Gilead Sciences, Inc., GlaxoSmithKline, Pfizer Inc., F. Hoffmann-La Roche AG, Johnson &Johnson ,Kindeva Drug Delivery, Eli Lilly and Company, AstraZeneca, Boehringer Ingelheim, Amgen Inc., Bristol Myers Squibb, Sanofi , Becton, Dickinson and Company (BD), Bayer AG.
Strategic collaboration, R&D investment, and geographic development are some of the primary strategies used by the market's leading companies to gain the largest revenue share. For instance, In May 2021, BD invested $200 mn to set up a drug delivery device plant in Zaragoza, Spain.
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