Drug Delivery Systems Market is Expected to Grow at a CAGR of 7.2% with Prominent Players and Forecast to 2027
"The Insight Partners’ report on the Drug Delivery Systems Market aims at developing a better understanding of the Drug Delivery Systems industry through qualitative and quantitative analysis of the key market parameters."
The Global Drug Delivery Systems Market accounted to US$ 1,243.1 Bn in 2018 and is expected to grow at a CAGR of 7.2% during the forecast period 2019 – 2027, to account to US$ 2,302.2 Bn by 2027.
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The drug delivery systems market by product is segmented into oral, transmucosal, injectable, topical, implantable, and ocular. In 2018, oral drug delivery system segment led held a largest market share of 50.2% of the drug delivery systems market, by route of administration. Whereas, the transmucosal segment is expected to grow at a CAGR of 8.8% during the forecast period from 2019 to 2027. This is primarily attributed to rapidly rising incidence of chronic disorders, including gastrointestinal, respiratory, and autoimmune disorders.
Top Players:
- BD (Becton Dickinson & Company)
- Boston Scientific Corporation
- Novo Nordisk A/S
- Bausch Health Companies Inc.
- Baxter International, Inc.
- Boehringer Ingelheim
- Novartis AG
- GlaxoSmithKline plc.
- Johnson & Johnson Services, Inc.
- Terumo Corporation
Key factors driving the market are 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 restraining factors for the market are high cost involved in development of drug delivery devices and product recalls.
The global drug delivery systems market by product segments was led by oral drug delivery segment. In 2018, the oral drug delivery segment held a largest market share of 50.2% of the drug delivery systems market, by route of administration. The transmucosal segment is expected to be the fastest growing segments the market in 2027 owing to rapidly rising incidence of chronic disorders, including gastrointestinal, respiratory, and autoimmune disorders.
Product launches and up gradation were observed as the most adopted strategy in global drug delivery systems industry. For instance, in January 2019, BD launched BD Nano 2nd gen pen needles reinforces BD’s commitment to providing the most advanced solutions possible for people with diabetes to help achieve better clinical management of insulin use. The developments performed by the companies are helping the market to grow in the coming years.
The Target Audience for the Report on the Drug Delivery Systems Market:
- Manufactures
- Market analysts
- Senior executives
- Business development managers
- Technologists
- R&D staff
- Distributors
- Investors
- Governments
- Equity research firms
- Consultants
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Posted by
Rajat Sahni
on Tuesday June 16 2020, 9:59 AM EST.
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