Drugs are the first line therapy for almost every small or major illness. We have succeeded in developing different routes of administration in order to get the optimized desired response.
The current market for these drug delivery systems has achieved a level of competition where every market player is investing significantly in developing novel drug delivery systems in order to remain competent in the market. Development in drug delivery systems is aimed at factors such as increasing patient convenience and reducing the amount of active pharmaceutical ingredient (API) per dose.
Additionally, the availability of the same drug in different dosage forms provides an opportunity for the pharmaceutical companies for price differentiation to maximize the profit. The dynamic nature of the market can be explained by the example of insulin drug delivery systems. While the traditional and popular way of insulin delivery is by subcutaneous injection, many companies have attempted different dosage forms such as-
• Jet injectors
• Insulin micro pump
• Transdermal Patch
• Insulin port
The recent addition to these includes artificial pancreas which is a medical device that includes automated subcutaneous administration of insulin.
Technical advancement is playing an important role in driving the demand for drug delivery systems since most of these techniques are aid in patient convenience. A few of the recent notable technological advancements include auto-injectors, nanotechnology in tablets and injections, and self-powered wearable devices. These technologies are expected to fuel the market growth of the advanced drug delivery systems in the near future.
On the other hand, gene delivery systems market is currently in the nascent phase with only 7 drugs approved in the market. These approvals are limited in their respective regions. Despite the fact that these drugs are not available in the most potential U.S. market. As a result, many of the patients who are willing to try these therapies are traveling to the countries where these drugs are approved which is resulting in spurring of medical tourism industry in these countries.
A large number of ongoing clinical trials indicates the magnitude of turning focus of the pharmaceutical companies towards gene therapy. High potential of the gene therapy along with the development of effective vectors are expected to drive the market for the gene delivery systems.
In-depth report on global drug and gene delivery devices market by Grand View Research:
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