Pharmaceutical Drug Delivery Market – Emerging Trends to Boost the Global Industry Revenue

PUNE, India, 2021-May-27 — /EPR Network/ —

Pharmaceutical Drug Delivery Technology Market Dynamics

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.

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Restrains: Risk of needlestick injuries

Needlestick injuries are one of the major risks in injectable drug delivery. According to PharmaJet, in the US, around 600,000 to 800,000 needlestick injuries are reported every year. The Occupational Safety and Health Administration (OSHA) estimates that around 5.6 million workers in the US are at the risk of exposure to blood-borne pathogens due to needlestick injuries. Furthermore, the CDC estimates that an average of 385,000 needlestick injuries occur annually in US hospital settings.

Similarly, in Europe, more than 1 million needlestick injuries are reported each year (Source: Becton, Dickinson and Company). In Sweden, one needlestick injury is reported per 200 employees each year, while in Germany, the estimated number of needlestick injuries in hospitals is around 500,000 per year. Further, according to the WHO, it was found that 37.6% of Hepatitis B, 39% of Hepatitis C, and 4.4% of HIV/AIDS cases in healthcare workers around the world are caused due to needlestick injuries

Expected Revenue Growth:

The pharmaceutical drug delivery technology 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. Growth in this market is mainly driven by the rising prevalence of chronic diseases, growth in the biologics market, and technological advancements and new product launches. Due to the outbreak of corona virus globally, there is a sudden rise in the demand for pharmaceutical drugs largely in infectious application.

The home care settings segment is expected to grow at the highest CAGR during the forecast period

Based on facility of use, the pharmaceutical drug delivery market is segmented into hospitals, ambulatory surgical centers (ASCs)/clinics, diagnostic centers, home care settings, and other facilities of use. The home care settings segment is expected to grow at the highest CAGR during the forecast period. Growth in this segment can be attributed to the increasing use of various drug delivery devices such as injectables, nebulizers, and inhalers in home care settings.

Recent Developments:

• In 2020, Johnson & Johnson, Inc collaborated with Biomedical Advanced Research and Development Authority (BARDA), to expedite development and strengthen access through production of coronavirus vaccine.
• In 2020, Johnson & Johnson, Inc collaborated with MeiraGTx Holdings Plc (US) to develop, manufacture and commercialize its clinical stage inherited retinal disease drug portfolio
• In 2019, Novartis signed an agreement with Shionogi (Japan) to commercialize new treatment, Rizmoic (Naldemedine) for Opiod-induced constipation in key European countries of Germany, UK and Netherlands, with rights of first refusal for some other European markets.

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