Drug Delivery Systems Market Size, Share & Industry Analysis, By Type (Inhalation, Transdermal, Injectables and Others), By Device Type (Conventional and Advanced), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others) and Regional Forecast, 2020-2027

The global drug delivery systems market size was USD 26.08 billion in 2019 and is projected to reach USD 45.20 billion by 2027, exhibiting a CAGR of 6.8% during the forecast period.

Controlled administration of medication is aided by advancements in drug delivery systems. These systems control the rate at which a drug is released. In the past few decades, the practice of drug delivery has changed tremendously, and even greater changes are expected in the near future. Recent scientific advances by biomedical engineers have focused to understand the functional barriers to effective drug delivery, which includes delivery in the circulatory system and drug movement through cells and tissues. The rising global adoption of these devices is attributable to factors such as introduction of advanced technologies  for effectively delivering the drug on the target site, reduction of side effects, and surging demand for new, innovative products. For instance, in January 2019, AstraZeneca collaborated with Aptamer Group to advance  a next-generation drug delivery device for the kidneys.

LATEST TRENDS

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Increased Focus Towards Drug Delivery Systems with Better Safety and Dosing Outcomes to Fuel the Market

One of the recent market trends is the development and launch of products with features such as increased safety and user friendliness.  The shifting  focus towards the adoption of advanced technologies has significantly improved operational performances of these devices. Better dosing features also complement drug treatment outcomes and to increase the potential of disease management in home settings.

For Instance, in November 2019, Lupin Limited announced the release of a new connected smart device for metered-dose inhalers called ADHERO. This novel device is specially designed for patients suffering from chronic respiratory diseases to track their Metered Dose Inhaler (MDI) usage and facilitate an improved compliance to therapy.

In addition, the digital aspect of  drug delivery is helping patient population by ensuring that the patients get the appropriate therapeutic dose for their diagnosed condition. This, in turn, is fostering the need for novel and smart devices in the market such as wearables.

DRIVING FACTORS

Higher Focus on Novel Technologies is  Paving Way for the Growth of the Market

Rapidly modernizing technologies that involve digitalization have enabled the development of novel discoveries and innovations in the field of these systems. The onset of technologies that facilitate proper dose monitoring and treatment of patients is estimated to further boost the drug delivery systems market growth.

For instance, in January 2020, AptarGroup, Inc. received U.S FDA approval for its innovative Unidose Liquid System, a nasal spray device indicated for the treatment of epilepsy and seizures.

One of the major components estimated to propel  medical devices technologies is the recent innovative minimally invasive techniques developed by some of the major players indicated to treat diseases that require longer prognosis. In addition, these technological advancements provide dual benefits of giving patient less pain with better efficacy of treatment. Moreover, the rise in  mergers and collaborations among  major companies focused to develop integrated medical solutions is projected to boost the market, cumulatively providing a larger array of preferences to the consumers.

Increasing Prevalence of Chronic Diseases  to Augment Market  Growth

The increasing prevalence of diseases such as diabetes, COPD, and asthma combined with rising ageing population is anticipated to drive the market growth. With  increasing life expectancy in the developed and developing countries, the demand for at-home convenient drug delivery products has  sharply risen. For instance, according to the International Diabetes Federation (IDF), in 2019, approximately 463 million individuals suffered from diabetes. Additionally, around 1.1 million children suffered from type 1 diabetes. The report also states that 1 out of 5 adults that have diabetes are 65 years and older. According to the Global Burden of Disease Study, the prevalence of COPD globally was estimated to be 251 million in 2016.

Digitalization in the healthcare sector has lead to innovations in drug delivery systems. Manufacturers are now focused towards innovating devices that provide facilities such as digital monitoring of doses and compatibility with digital applications, among others. Such developments could positively augment the growth of this market.

RESTRAINING FACTORS

Frequent Changes In Regulatory Approval Process Of Combination Products Coul  Harm The Growth Of The Market

The technologically advanced drug delivery systems  are suspected to various regulatory approval process. Since these technologies are upcoming with various innovations, regulatory bodies have enforced active efforts to evaluate the performance and safety of the products. The constant advancement in smart drug delivery systems  have also substantially increased the burden on regulatory bodies for the product’s classification and evaluation. For instance, in November 2019, the U.S FDA issued a draft guidance of product development and regulatory approval process of topical and transdermal delivery systems. This could pose a challenge for companies that have significantly advanced in the development process of the product.

The recent product recalls attributed to software malfunctioning of the device have also compelled the regulatory authorities like European Agency and the Food and Drug Administration to impose stringent guideline for the approval of the systems for drug delivery. These predominant factors could limit the growth of market during the forecast years.

SEGMENTATION

By Type Outlook

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Injectable Segment to Register Remarkable Growth

The report focuses on drug delivery systems market trends covering different product types that include injectable, inhalation devices, transdermal devices, and others. The injectable segment is expected to dominate the market share owing to the system’s capability to deliver drugs to the target site, allowing it to be more localized. Likewise, shifting  patient preference  from syringe to readymade devices is also expected to boost  the segment growth.

The transdermal segment is anticipated to hold the second position in the market owing to technological advancements and advantages provided by transdermal drug delivery systems.

On the other hand, the inhalation and others segment are  anticipated to mark significant growth in the forecast period owing to th advancements such as agglomerated vesicle technology, MDI electronic dose counter, particle engineering, and supercritical fluid technology

By Device Type Outlook

Conventional Drug Delivery Segment to Dominate Market Share

Based on type, the market has been segmented into conventional and advanced. The conventional segment  accounts for the leading share in the market. The large share of this segment is due to the rising incidence of chronic diseases (mainly cancer and diabetes) and cardiovascular diseases (CVD), growing demand for biosimilar products, and low cost of devices and manufacturing. According to the World Health Organization (WHO), around 300 million people worldwide have been diagnosed with asthma. Although advanced devices have been introduced in the market, injectable, pen-injectors, and inhalers are still usually adopted  globally.

On the other hand, rising geriatric population, technological advancements, and increasing demand for improved systems are the key factors driving the growth of the advanced segment.

By Distribution Channels Outlook

Hospital Pharmacies Segment Held the Highest Market Share

On the basis of distribution channels, the market is divided  into hospital pharmacies, retail pharmacies, and others. The hospital pharmacies segment is predicted to account for a dominant share in the market during the forecast period. This is attributed to the growing number of hospitalizations. Furthermore, hospitals provide extensive treatments, quick reimbursements, and insurance policies due to which patients prefer hospital pharmacies .

The retail pharmacies segment is estimated to emerge as the fastest-growing segment during the forecast period. Due to an increasing patient demand, retail pharmacies are likely to invest in products such as, injectables, infusion pumps, inhalers, etc. thus increasing the market values. Moreover, associated benefits such as convenience, discounts, and flexibility is driving the growth of the online channels segment during the forecast period.

REGIONAL INSIGHTS

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With a market value of USD 10.65 billion in 2019, North America emerged as the leading region and is also anticipated to dominate the market share in the coming years. The rapid growth of the chronic diseases such as diabetes in the U.S., is driven by the increasing awareness and the ongoing R&D in advanced devices, coupled with new product launches are the major factors responsible for North America’s dominance.

Europe accounted for the second-largest market share. Growing incidence of chronic diseases and presence of a large target population base are the factors boosting product demand in the region. This, coupled with the presence of big pharma companies in countries such as Ireland, Italy, Switzerland, and others, is anticipated to fuel the market growth. For Instance, in July 2018, Companion Medical, a leader in the development of advanced device type to improve diabetes care, received FDA approval for the  android version of its InPen app, clearing the way for the release of smart pen system for android users. The InPen automatically calculates the insulin doses, and gives out  dose reminders.

On the other hand, Asia-Pacific is projected to register a higher CAGR during the forecast period due to the factors such as constant increase in number of asthmatic and allergic rhinitis patients is anticipated to propel the market demand for these systems in Asia Pacific region.  Latin America and the Middle East & Africa are anticipated to witness a moderate CAGR during the forecast period owing to the rising lifestyle illness and growing initiatives by the government to enhance the accessibility of drugs are likely to accelerate the usage of conventional products in the region during the forecast period.

KEY INDUSTRY PLAYERS

BD, Baxter International,  Gerresheimer AG, and West Pharmaceutical Services Account for a Dominant Share

The market is dominated by companies such as BD, Baxter International, Inc., Gerresheimer AG, and West Pharmaceutical Services, Inc. Driven by a diversified product portfolio and a wide distribution network, these companies will continue to dominate the market in the coming years. In October 2019, Becton, Dickinson and Company launched the BD Intevia 1mL two-step disposable autoinjector, a robust platform device combining autoinjector and pre-fillable syringe in one integrated system. In addition to establishing a strong distribution network, companies are also emphasizing on acquisitions to possess a diverse range of these systems. For instance, in May 2020, 3M’s Drug Delivery Systems (DDS) business was acquired by Altaris Capital Partners and renamed Kindeva Drug Delivery. The business includes  more than 50 years of pharmaceutical development, commercialization, and contract manufacturing services experience across the inhalation, nasal, transdermal, and microneedles domains.Other market players engaged in this market are 3M, Ypsomed, Pfizer, Inc., and Nemera, among others.

LIST OF KEY COMPANIES COVERED:

• BD (Becton, Dickinson and Company)(U.S)


• 3M (U.S)


• Baxter International Inc. (U.S)


• Gerresheimer AG (Germany)


• Medtronic (Ireland)


• Nemera (France)


• West Pharmaceutical Services, Inc.(U.S)


• Ypsomed (Switzerland)


• Pfizer Inc.(U.S)


• Other Players

KEY INDUSTRY DEVELOPMENT:

• December 2019: Insulet Corporation announced the launch of Omnipod DASH Insulin Management System. This system contains Bluetooth wireless connectivity with a touchscreen-enabled Personal Diabetes Manager that can hold around 200 units of insulin.


• February 2019: Propeller Health and Orion Corporation announced a partnership to integrate the former’s Easyhaler line of inhalers to digital medicine platform.


• July 2018: Companion Medical received U.S Food and Drug Administration (FDA) clearance for the company’s InPen that consists of a smart insulin pen integrated with a diabetes management mobile application.


• June 2017: Medtronic launched the Minimed 670G insulin monitoring and drug delivery device in the U.S market.  Medtronic Minimed 670G is the world’s first close-looped insulin delivery system.

REPORT COVERAGE

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The drug delivery systems market research report includes detailed information on various aspects of the market. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further offers an analytical depiction of the neurovascular devices market trends and estimations to illustrate the forthcoming investment pockets. The market is quantitatively analyzed from 2019 to 2026 to provide the financial competency of the market. The information gathered in the report has been taken from several primary and secondary sources.

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