The global drug delivery systems market is expected to reach US$ 2,302.2 Bn in 2027 from US$ 1,243.1 Bn in 2018
NEW YORK, June 12, 2019 /PRNewswire/ -- The global drug delivery systems market is expected to reach US$ 2,302.2 Bn in 2027 from US$ 1,243.1 Bn in 2018. The market is estimated to grow with a CAGR of 7.2% from 2019-2027.
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The market is driven by the factors such as, rising incidence of chronic diseases, growing demand for non-invasive drug delivery devices, increasing R&D expenditures in and pharmaceutical and medical device companies. However, the factors restraining the market growth are high cost involved in development of drug delivery devices and product recalls.
With the improvements in medical devices and certain transdermal delivery technologies, the non-invasive mode of drug delivery is now ready to compete with traditional methods of oral and injectable routes of drug delivery.The Non-Invasive Drug Delivery Systems encompasses the broad field of non-invasive drug delivery systems which includes drug delivery via topical, transdermal-active (device- aided enhanced penetration), transdermal-passive, trans-ocular membrane, trans-mucosal membrane, as well as delivery via alveolar membrane from inhaled medication.
Patient compliance has been found to be much higher when administrated by non-invasive routes due to decreased pain involved in drug delivery and therefore these techniques are considered to be a preferred mode of drug delivery.
The traditional drug delivery techniques, like intramuscular, intravenous, oral and rectal drug administration are not suitable to certain patient populations.The non-invasive methods of drug delivery reduces dosing frequency and simplifies dosing schedules.
Moreover, non-invasive drug delivery system can significantly reduce the cost of clinical use because of self-administration of the drugs by the patients.The manufacturing cost may also be less for non-invasive dosage forms as compared to injections in many cases.
For instance, inhaled insulin appears to be a non-invasive, well-tolerated and liked modality of treatment of diabetes.In 2014, MannKind Corporation developed Afrezza (insulin human) inhalation powder which was approved by FDA.
Pharmaceutical Research and Manufacturers of America (PhRMA), Inhalation Drug Delivery Association (IDDA), American Lung Association, Centers for Disease Control and Prevention, Chinese Diabetes Society, International Diabetes Federation and others.
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