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GBI: Oral Drug Delivery Market - Controlled and Sustained Release to be Major Revenue Generators
GBI Research’s report Oral Drug Delivery Market - Controlled and Sustained Release to be Major Revenue Generators provides in-depth analysis of the unmet needs, drivers and barriers that impact the global oral drug delivery market.
Pharmaceutical Companies Looking at Innovative Drug Delivery Systems to Enhance Their Products - CNS, Gastrointestinal and Hormone and Related Agents are the Focused Therapeutic Areas Using Drug Delivery Systems
Over the last few years, the pharmaceutical industry has seen patent expiries for major blockbuster drugs which have resulted in losses worth billions. More blockbuster drugs are about to lose patent in the coming years. In such a situation, pharmaceutical companies are increasingly adopting various drug delivery systems to enhance their product efficacy, patient compliance and extend patent lives through innovative repositioning and reformulations of existing drugs. This has resulted in significant growth in the drug delivery market over the last few years. According to GBI Research, the overall drug delivery market is forecasted to grow to to $199 billion in 2016 from $101 billion in 2009, at a CAGR of 10.3%.
Central Nervous System (CNS) agents, hormone-related agents and gastrointestinal agents are among the key therapeutic areas witnessing the use of innovative drug delivery methods, and this trend is expected to grow in the coming years.
Oral Drug Delivery System is the Largest Segment of the Drug Delivery Market and is Expected to See Considerable Growth Especially for Controlled Release Drug Forms and Oral Forms of Injectible Only Drugs
The oral drug delivery market remains the largest segment of the overall drug delivery market, with more than 52% of the market share. It is presently valued at $49 billion and is expected to reach $92 billion by 2016, at a CAGR of 11.3%. The growth in the oral drug delivery market shall be driven primarily by newer technologies enabling controlled release formulations of oral drugs and oral formulations of injectible only drugs.
Other innovative technologies like nanotechnology-
Innovative oral formulations like orally disintegrating tablets, fast dissolving tablets and mini-tablets have been introduced into the market, which ensure better patient compliance, reduce dosage frequencies and enable customizable drug loading.
The Oral Drug Delivery Market has Witnessed a Significant Rise in the Number of Licensing and Partnership Deals Over the Last Few Years
According to GBI Research, the oral drug delivery market has seen a significant increase in the number of licensing and partnership deals over the last few years. The rise can be associated with the growing interest of pharmaceutical companies towards drug delivery systems as a key product lifecycle management tool and a strategy to increase patient acceptance and compliance. An increasing number of licensing and partnership deals have been for the development of controlled release drug forms, and have been directed towards key therapeutic areas like C NS, Oncology and Oral Vaccines.
GBI: Oral Drug Delivery Market - Controlled and Sustained Release to be Major Revenue Generators:
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