Pharmaceutical Drug Delivery Industry – Reasons Behind Current Boom & Expected Revenue Surge

PUNE, India, 2020-Dec-10 — /EPR Network/ —

COVID-19 Impact on the Pharmaceutical Drug Delivery Technology Market

Coronavirus has spread across 215 countries and territories and affected more than 4.4 million people, with close to 300 thousand deaths. Due to the COVID-19 outbreak, we are estimating that the share of infectious diseases segment has increased and is anticipated that this segment will grow significantly during the forecast period. COVID-19 has given momentum to drug delivery market and it will show significant growth rate during 2020-2021

The outbreak of COVID-19 has been increasing at an exponential level in many countries. This has led to the need to improve patient care and provide added nutritional/immunity support (including vitamins and other curing drugs) to patients affected by the virus. This has led to an increased adoption of drugs, such as vit C, multivitamin, antiviral and so on, which in turn is expected to support market growth to a certain extent.

Expected Revenue Surge:

The global market is projected to reach USD 2,015.3 billion by 2025 from USD 1,430.5 billion in 2020, at a CAGR of 7.1% during the forecast period.

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Drivers:  Growth in biologics market

According to the American Journal of Managed Health Care, biologics form the fastest-growing segment of the pharmaceutical market. An article published by Congressional Research Service 2017, stated that in the US, in 2016, spending on biologics increased by 13% (as compared to 2015) to reach USD 105.5 billion. According to an article published by The Economist, in the US, more than 900 biologics are under development for the treatment of more than 100 diseases.

It is estimated that biologics contributed approximately 22% of the sales of large pharmaceuticals companies in 2013, which is expected to reach 32% by 2023. As biologics are mainly administered by the injectable route, the significant growth in the biologics market is expected to drive the injectable drug delivery market in the coming years. According to Pharmaceutical Research and Manufacturers of America (formerly known as the Pharmaceutical Manufacturers Association), as of June 2020, there are 17 biosimilars in the US market against 7 reference biologics.

Opportunities: Rising demand for biosimilars

Biosimilars are more acceptable for the treatment of chronic diseases that are of a non-life-threatening nature. Moreover, biosimilars can drive the overall therapeutics market by allowing patients to access drugs at cheaper rates. The lower cost of manufacturing due to the use of modern manufacturing technologies for the development of biosimilars is a major factor that is expected to drive the growth of this market in the coming years.

Also, an increasing number of companies are conducting clinical trials on biosimilars. For instance, Biocon is involved in the clinical trials of various drugs such as Insulin Glargine, Trastuzumab, Bevacizumab, Pegfilgrastim, and Adalimumab. Also, Amgen is conducting clinical trials for various biosimilars, such as rituximab, infliximab, centuximab, eculizumab, and trastuzumab. Some FDA-approved biosimilars include Zarxio (Sandoz), AMJEVITA (Amgen), and Erelzi (Sandoz).

North America was the largest regional market for pharmaceutical drug delivery in 2019

The global pharmaceutical drug delivery market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2019, North America accounted for the largest share of the market. The large share of the North American market can be attributed to factors such as growth in biologics in the pharmaceuticals market; the rising prevalence of chronic diseases increasing patient compliance to innovative drug delivery technologies; and the presence of a large number of prominent players in this region.

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Global Leaders:

The pharmaceutical drug delivery market is highly fragmented in nature with several big and emerging players. Johnson & Johnson, Inc. (US), Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd. (Switzerland), Bayer AG (Germany), Pfizer, Inc. (US), Sanofi (France), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), 3M (US), Antares Pharma, Inc. (US), and Becton, Dickinson and Company (BD) (US) are some of the leading players operating in the global pharmaceutical drug delivery.

Different Growth Strategies Adopted by Them:

Players in this market pursue the strategies of product approvals, partnerships, agreements, collaborations, expansions, and acquisitions to develop and expand their market presence. Product approvals has been the key growth strategy adopted by players to expand their share in the market.

Johnson & Johnson Services, Inc. is one of the leading players in the pharmaceutical drug delivery market. The leading position of Johnson & Johnson (J&J) (US) is due to its strong brand recognition. The company focuses on adopting organic as well as inorganic growth strategies to expand its presence in the drug delivery technology market. For instance, in April 2020, Janssen Pharmaceutical Companies collaborated with Emergent BioSolutions to support the manufacturing and expansion of its investigational COVID-19 vaccine.

Novartis AG holds dominant position in the pharmaceutical drug delivery market. The company’s leading position can be attributed to its strong geographical presence and robust product portfolio. In order to maintain its leading position, the company significantly invests in R&D activities. In 2019, the company invested USD 9.4 billion in research and development as compared to USD 9.0 billion in 2017. This investment helped the company develop and launch new and advanced products in the drug delivery technology market.

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