Albany, NY -- (SBWire) -- 01/26/2019 --Drug delivery includes formulations, technologies, methods, and systems for transferring an active pharmaceutical ingredients into the body to safely provide therapeutic effect. The global drug delivery systems market was valued approximately US$ 510 Bn in 2016 and is anticipated to expand at a CAGR of over 6.9% from 2017 to 2025 to reach approximately US$ 900 Bn by 2025. Increase in demand for self-administration and home health care devices are likely to fuel expansion of the global drug delivery systems market from 2017 to 2025.
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Continuous innovations in the global drug delivery systems market is creating opportunities for major and local manufacturers to develop wide product portfolio. Additionally, collaborations among major market players for superior technological advancements in drug delivery offerings is likely to drive the global drug delivery systems market during the forecast period. Using nanotechnology, the drug can be targeted to a precise location, which makes drugs more effective and reduce the chances of possible side effects. Major manufacturers operating in the market are involved in continuous research & development activities to expand their already wide product portfolio. For instance, on September 2017, Baxter International Inc. announced the launch of DeviceVue, an asset tracking system for sigma spectrum infusion system whereas, emerging players operating in the market are also focusing on introducing new versions of their existing drug delivery devices. Continuous expansion of drug delivery systems offering in high throughput along with reduced waiting time and improved result specificity are likely to drive the global drug delivery systems during the forecast period. However, high cost associated with treatment and increase in drug recalls are likely to restrain the global drug delivery systems market during the forecast period.
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Transparency Market Research (TMR) has published a new report titled "Drug Delivery System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025". According to the, the global drug delivery system market was valued at approximately US$ 510.0 Bn in 2016 is projected to expand at CAGR of over 6.9% from 2017 to 2025. The report suggests that rise in prevalence of diseases and increases in demand for self-administration devices are likely to spur demand for drug delivery system in the during the forecast period (2017 to 2025). Key players introduce new drugs delivery systems and devices in developed markets such a North America and Western Europe. Hence, these regions are likely to account for dominant share of the global drug delivery system market. Rise in R&D investment and launch of new and advanced technologies in emerging markets such as Japan and India are expected to boost the drug delivery system market in Asia Pacific. The market in the region is expected to expand at a CAGR of around 7.6% from 2017 to 2025.
Targeted Drug Delivery System Dominates the Market Followed by Polymeric Drug Delivery
The report offers detailed segmentation of the global drug delivery system market based on delivery system, application, route of administration, and geography. In terms of delivery system, the targeted drug delivery segment is expected to account for a dominant share of the global market during the forecast period. Simplified drug administration protocols, avoidance of first pass metabolism, lower dose required as compared to the conventional drug delivery, and higher therapeutic effect in small doses are some factors propelling the segment. The polymeric drug delivery segment is likely to expand at a considerable growth rate during the forecast period. Polymeric drug delivery systems allow localized drug delivery in large quantity for the treatment of chronic diseases such as cancer (more specifically, solid tumors) with lower toxicity. This is a major factor driving the segment.
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Drug Delivery Systems Market Analysis Report by TechnologyBy,Release Mechanism, by Application, and Segment Forecasts, 2017-2025