The worldwide market for drug delivery systems is projected to grow from US$ 1,243.1 billion in 2018 to US$ 2,302.2 billion by 2027, reflecting a compound annual growth rate (CAGR) of 7.2% from 2019 to 2027.
Several factors are propelling this market forward, including the increasing prevalence of chronic illnesses, a rising demand for non-invasive drug delivery solutions, and heightened research and development investments from pharmaceutical and medical device firms. Conversely, challenges such as the high costs associated with the development of drug delivery systems and the occurrence of product recalls are hindering market expansion.
Advancements in medical technology and specific transdermal delivery methods have positioned non-invasive drug delivery systems to rival traditional oral and injectable delivery techniques. Non-Invasive Drug Delivery Systems cover a wide array of methods, including topical applications, device-assisted transdermal delivery, passive transdermal methods, trans-ocular delivery, trans-mucosal delivery, and inhalation methods that utilize the alveolar membrane. These non-invasive approaches have been shown to enhance patient compliance significantly, as they minimize pain during administration, making them a favored choice for drug delivery.
Conventional drug delivery methods, such as intramuscular, intravenous, oral, and rectal administration, may not be appropriate for all patient demographics. Non-invasive delivery techniques can decrease the frequency of doses and streamline dosing regimens. Additionally, these systems can lower clinical costs due to the potential for self-administration by patients. In many instances, the manufacturing expenses for non-invasive dosage forms can be lower than those for injectable forms. A notable example is inhaled insulin, which has emerged as a well-received and non-invasive treatment option for diabetes. In 2014, MannKind Corporation introduced Afrezza (insulin human) inhalation powder, which received FDA approval. Consequently, the advantages associated with non-invasive drug delivery systems are expected to drive growth in the drug delivery market throughout the forecast period.
The global drug delivery systems market is categorized by the route of administration into several segments: oral, transmucosal, injectable, topical, implantable, and ocular. In 2018, the oral drug delivery segment dominated the market due to its convenience and the increasing demand from patients across various therapeutic areas. The market is also segmented by distribution channels, which include hospital pharmacies, retail pharmacies, and online pharmacies. Hospital pharmacies accounted for the largest share, primarily due to their extensive range of medications available for treating diverse medical conditions. Furthermore, the market is divided based on application into hospital & clinics, home care settings, and others, with hospitals and clinics holding the largest share in 2018. This is largely due to the high volume of patient visits and the substantial demand for drugs and their delivery devices in these settings.
Key sources of information for the drug delivery systems market report include organizations such as the World Health Organization, the International Society for Aerosols in Medicine (ISAM), the National Institute of Diabetes and Digestive and Kidney Diseases, Diabetes UK, the Pharmaceutical Research and Manufacturers of America (PhRMA), the Inhalation Drug Delivery Association (IDDA), the American Lung Association, the Centers for Disease Control and Prevention, the Chinese Diabetes Society, the International Diabetes Federation, among others.