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Drug Delivery Technologies Market - Market Leader
Owing to the lack of innovation due to decreased R&D expenditures, the pharmaceutical industry is witnessing a slowdown in branded drug formulations and technologies. This has resulted in an increasing number of generics flooding the market and a loss in the annual sales of branded drugs. Thus, big pharmaceutical companies are increasingly being pressurized to provide differentiated products from those of their competitors. Also, in recent years, patents for blockbuster drugs of these companies are set to expire in the near future. Reformulation of drugs through drug delivery technologies help in product differentiation strategies and provide a lucrative and less expensive option to extend patent expirations. At the same time, the technologies help to retain market leadership, protect sales revenue, and bring competitive value to the pharmaceutical firms.
Collaborations followed by mergers and acquisitions are the most adopted strategies by drug delivery firms to ensure growth and to expand their presence. From January 2007 to mid-March 2013, there have been approximately 2,000 partnerships in drug delivery. Big pharma companies like GSK, Merck, Pfizer, Novartis, Roche, Sanofi, and AstraZeneca have been actively involved in strategic alliances and partnerships with drug delivery firms.
In general, the overall market is very fragmented, with numerous small and mid-sized emerging players and a few major players. The challenge faced by drug delivery firms lies in offering flexible and customized services that employ a combination of multiple technologies under a single contract. This intensifies the competition and the market evolves at an increasing speed. Effective marketing of technology to secure a partnership as well as striking the right partnership deal has become very crucial in the highly competitive drug delivery market.
The key playing areas where the companies are seen investing on a large scale include orally disintegrating tablets (ODT), dry powder inhalers (DPIs), pen injectors, auto injectors, buccal films, nasal sprays, intraocular implants, and infusion pumps.
The drug delivery technology market has no clear market leader as various segments have different leaders depending on their expertise and product offerings.
GSK is the market leader in the pulmonary drug delivery market, owing to the high sales of its blockbuster dry powder inhaler, Advair. The drug-eluting stents leader, Boston Scientific, had the largest share in the implantable drug delivery market. Strategic collaborations, product improvements, and geographical expansions helped Becton, Dickinson and Co. to lead the conventional injectable drug delivery market. In 2012, the global self-injection devices market was dominated by the SHL Group owing to its broad product portfolio of self-injection devices. The transdermal drug delivery market is fragmented with a large number of small players; however, Novartis dominated the space with the wide geographic reach of its transdermal patch, Exelon Patch, which is approved for the treatment of Alzheimers disease, dementia, and Parkinsons disease.
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Drug Delivery Technologies Market (Metered Dose Inhalers, Needle-Free Injectors, Auto-Injectors, Nasal Sprays, Transdermal Patches, Nebulizers, Infusion Pumps, Drug Eluting Stents, Sustained Release, Ocular Implants) - Global Forecasts To 2017
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