Drug Delivery Technologies Market - New Revenue Pockets
Pharmaceutical companies prefer to develop new drug delivery technologies for existing drugs as developing a new chemical entity (NCE) can be a more expensive and time-consuming process. Developing a new technology helps companies extend the patent life of their blockbuster drugs, which proves to be less time consuming and requires less monetary investments. In addition, drug delivery technologies improve the safety and efficacy of a drug as well as enhance the bioavailability and drug distribution throughout the body. These technologies reduce the dosing frequency, thereby increasing convenience and patient compliance. Such advantages make drug delivery technologies extremely significant in the pharmaceutical industry.
A number of specialty companies engaged in the development of novel drug delivery technologies form an important part of the market as many small pharmaceutical companies rely on such technology providers. The Global Drug Delivery Technologies report highlights the technologies that are being adopted increasingly by pharmaceutical players. Technologies such as Orodispersible tablets (ODTs), transdermal patches, microneedles-based transdermal delivery, self-injection devices, and nasal sprays provide distinguished growth opportunities.
Orodispersible tablets (ODT), one of the fastest-growing technologies, are utilized across a wide range of therapeutic areas, such as motion sickness, allergy, pain management, schizophrenia, anxiety disorder, diarrhoea, depression, insomnia, and migraine. The adoption of transdermal patches is increasing owing to their advantages, such as reduced dosing frequency, improved bioavailability, reduced adverse events, and increased patient compliance due to non-invasive and painless applications.
Although Micro-Trans (BioValve Technology), MicroPyramid (NanoPass), Microstructured Transdermal Systems (MTS) (3M), and Macroflux (ALZA Corporation) are the only commercially available microneedles-based delivery systems, the advancements in material science and microfabrication technologies are expected to propel the growth of this segment further. Self-injection devices include needle-free injectors, auto injectors, and pen injectors, and are used for reliable and accurate self-administration of medicationssuch as insulin, interferon, and growth hormones. Nasal sprays are being increasingly used for the delivery of vaccines.
The report also highlights the attractive geographical markets. Though North America and Europe occupy large shares of the market, the Asian region represents a lucrative market for the growth of many drug delivery companies. The expansion of economies in India, China, and South-East Asia has compelled key industry players to invest in these regions. The growth of the drug delivery technologies market in Asia will be fuelled by its booming pharmaceutical industry. The increase in disposable income, development of healthcare infrastructure, increasing penetration of health insurance, and rising prevalence of chronic diseases will be the key drivers for the growth.
Many pharmaceutical and biotechnology companies in the market are investing in these high-growth markets to extend their revenue channels and strengthen their market position.
Related Reports @
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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