2014-02-25 10:23:03 - Drug Delivery Technologies Market: Global Forecasts to 2017 - a new market research report on companiesandmarkets.com
The global drug delivery market was estimated to have grown to $142.5 billion in 2012, and is forecast to hit $224.2 billion by 2017. The drug delivery technology market is segmented on the basis of route of administration into nine categories - oral, pulmonary, transdermal, injectable, ocular, nasal, topical, implantable, and transmucosal drug delivery; the market is forecast till 2017. Over the years, drug delivery technologies have grown phenomenally from plain drug reformulation and release technologies to innovative platforms that hold a huge potential for the effective delivery of biologicals and novel drugs.Patent expiries of certain blockbuster drugs, growing demand for self administration and home healthcare devices, rising incidence of chronic diseases such as cardiovascular diseases, diabetes and cancer, growing
focus on pediatric and geriatric patients, and advancing technology are accelerating the growth of this market. However, drug failures and recalls, and technical barriers will hamper the growth of this market, to a certain extent.Strategic collaborations, self administration and home care drug delivery devices, and expanding applications of drug delivery into niche therapeutic areas represent vast opportunities for key players in this market. The growing number of elderly persons is a large consumer of home care drug delivery devices. The global ageing population (above 60 years) is set to increase from 784 million in 2011 to 2 billion by 2050 and 2.8 billion by 2100. (Source: UN Population Division). An increase in the number of geriatric patients and rise in demand for convenient drug delivery options pose major opportunities for the development of innovative and easy-to-use drug delivery systems.Striking right partnership deal and enhancing the bioavailability of drugs are some of the burning issues in this market. In spite of a large number of strategic collaborations taking place every year, pharmaceutical and biotechnology companies are facing problems in finding a right drug delivery partner. Considering this need, a number of national and international conferences are organized by various associations and organizations to facilitate drug delivery partnerships.North America is the largest market for drug delivery, followed by Europe and Asia. North America and Europe are expected to grow at a slower pace, primarily due to a certain amount of saturation in the market. The Asian market is poised to register maximum growth over the next five years, owing to the expansion of Asian economy, increase in disposable income, development of healthcare infrastructure, increasing penetration of health insurance, and rising prevalence of chronic diseases.
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