Global top 10 drug delivery technologies market has introduction of advanced technologies such as novel intelligent inhalers and micro-needle transdermal patches as one of the high impacts rendering driver. Some other drivers for this market are growing demand for effective drug delivery systems, increasing need for faster biopharmaceutical drugs developments, and patent expirations. For the pharmaceutical industries, drug delivery technologies are revenue boosters as these technologies improve drug life cycle by extending patent rights and improve a competitive edge to the drug by increasing drug efficacy and safety. Furthermore, increasing applications of non conventional drug delivery technologies such as nasal, transdermal, and pulmonary in chronic conditions such as CNS and diabetes is expected to boost the market during the forecast period.
Top 10 drug delivery technologies are topical, oral sustained release/ time release, injectable, inhalation/aerosol, targeted delivery, transdermal, implants, liposomal, encapsulation, and pegylation. Sustained release technologies market is one of the largest markets of the total top 10 drug delivery technologies market owing to the enormous popularity of once daily formulations for the diseases such as asthma. Sustained release technology provides increased drugs bioavailability, minimizes the fluctuation of peak trough concentration, reduces the frequency of administration to prolong duration of effective blood levels, and improves the specific distribution of the drug.
Regionally this market is segmented into North America, Europe, Asia-Pacific, and RoW. North America was having the highest share in 2013 due to various technological innovations such as drug-polymer conjugates. Asia-Pacific is expected to show the highest growth rate during the forecast period owing to the increasing disposable incomes and rising patient awareness levels
Major players in this market are Alkermes Inc., Applied Pharma Ltd., Altea Therapeutics Inc., Aradigm Inc., Biovail Inc., Ethypharm Ltd, Elan Corp., Eurand Pharmaceuticals Inc., Johnson & Johnson, Ltd, Nektar Therapeutics Ltd., Nanopass Technologies Ltd., Penwest Pharmaceuticals, Bioject Inc., Vectura Group Plc., Skye Pharma Plc., Labopharm Inc., Endo Pharmaceuticals Inc, Durect Corp. and Flamel Technologies Inc.
Key market players are focusing in the development and commercialization of novel drugs and technologies through various collaborations and agreements which therefore accounted for the highest share of the total competitive developments in the global top 10 drug delivery technologies market.
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Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for Covid19 as a key market contributor.