Drug Delivery Technologies Market- Regional Insights
On the basis of region, theglobal DrugDelivery Technologies Market is segmented into North America, LatinAmerica, Europe, Asia Pacific, Middle East, and Africa. North America holdsdominant position in the global drug delivery technologies market, owing to thelaunch and adoption of novel technologies. For instance, in January 2019,Amneal Pharmaceuticals received the U.S. Food and Drug Administration (FDA)approval for its generic Exelon patch used for treatment of Alzheimer diseasethrough the transdermal drug delivery.
Drug delivery system is a methodin which the therapeutic substances are delivered through general route ofadministration to obtain the therapeutic effect in humans or animals. Thecorrect dose of drugs release their functional ingredients in the targeted areaat the appropriate time. Drug delivery technologies helps to improve the absorption,distribution, elimination, and drug release profile for developing the productsafety and efficiency. Drug delivery technologies are considered an importantaspect of pharmaceutical products which are often used by pharmaceuticalcompanies for extending the product’s lifecycle.
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Drug Delivery Technologies MarketDrivers
Increasing prevalence of chronicdiseases, growing demand for biologics, technological advancements, and newproduct launches are some of the factors driving the growth of the market.According to the National Center of Biotechnology Information (NCBI), in 2018,around 45%, or 133 million, Americans were affected by one of the chronicdiseases.
Moreover, the Capsugel, a globalleader in delivering high quality, innovative dosage forms to the healthcareindustry, launches the new drug delivery system as per the commitment toinnovate for their costumer. For instance, in October 2015, Capsugel announcedthe global commercial launch of its enTRinsic drug delivery technology, providingfull enteric protection and targeted release of gastric acid and heat sensitiveactive ingredients to the upper gastrointestinal tract.
Furthermore, in April 2019,Aquestive Therapeutics, Inc. announced that the U.S. Food and DrugAdministration (FDA) accepted the company’s New Drug Application (NDA) fortheir investigational product, Riluzole oral film (ROF), which the companyintends to market under the brand name, Exservan. ROF is used for treatment ofamyotrophic lateral sclerosis (ALS). ROF is delivered through a postage stampsized film which dissolves in the mouth. The FDA had designated orphan drugstatus to the drug in January 2018.
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However, risk factors such asneedle stick injuries and side effects of drugs are restricting the marketgrowth to a certain level. According to a 2014 estimate by the OccupationalSafety and Health Administration (OSHA), 5.6 million workers in the healthcareindustry are at a risk of needle sticks and sharps related injuries whichexpose the workers to blood borne pathogens.
Drug Delivery Technologies Market- Competitive Landscape
Key players operating in theglobal drug delivery technologies market are focused on innovations related todrug delivery technologies, in order to improve patient compliance. Forinstance, in July 2018, Merck Pharmaceuticals and InnoCore Pharmaceuticalsentered into a global collaboration agreement for InnoCore’s proprietarySynBiosys biodegradable polymer platform. The drug delivery technologies areused to develop sustained release solutions for biologicals in injectableformulations. The sustained release solutions play important role in drugformulation because it improve the patient adherence.
Some of the key players operatingin the global drug delivery technologies market includes 3M, Bayer AG, Becton,Dickinson & Company, Johnson & Johnson, Pfizer, Inc., Novartis AG,Glaxosmithkline PLC, Vectura Group Plc., Roche Holding AG, GenerexBiotechnology, Antares Pharma, Inc., Alkermes, Merck & Co., Inc, andSanofi, Aradigm Corp.
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