Drug Delivery Technologies Market Size, Share & Trends Analysis Report By Technology (Targeted Drug Delivery, Controlled Release Drug Delivery, Polymeric Drug Delivery, Sustained Release Technology (SRT), Drug Delivery Vehicles, Others), By Route of Administration (Oral Drug Delivery, Pulmonary Drug Delivery, Injectable Drug Delivery, Ocular Drug Delivery, Nasal Drug Delivery, Topical Drug Delivery, Implantable Drug Delivery, Transmucosal Drug Delivery, Others), By Application (Cardiovascular Diseases, Oncology, Urology, Diabetes, CNS, Ophthalmology, Infections, Other Applications) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global drug delivery technologies market size is growing at a higher CAGR 7.2% during the forecast period. The Rise in the Burden of Chronic Diseases drives the drug delivery technologies market demand by 2029.

The popularity of biologic drugs in the treatment of major chronic diseases, especially cancer and autoimmune disorders, has enabled large pharmaceutical firms, such as Eli Lilly and Company, Bristol-Myers Squibb, Novartis, AstraZeneca, and GlaxoSmithKline (GSK), to invest in such medicines. In 2019 the United States Food and Drug Administration (FDA) approved 3 biological drugs, one of which is an anticoagulant solution by Grifols. Market players in the biotechnology industry are investing in innovations to produce next-generation biologics such as ADCs, bispecific, fusion proteins, cell, and gene therapy. Such next-generation biologic is predicted to have greater efficacy against the target disease as well as being able to handle more than one component of the disease. They are being developed along with drug delivery devices with the aid of technology. Some of the biologics products of the next generation are Kadcyla, Tresiba, Alprolix, Adcetris, Eloctate, Plegridy, Afrezza.

Growing Capital Investment for the Development of Biologics Coupled with Innovative Strategies Implemented by Market Players

During the forecast era, the existence of a robust pipeline and the acceptance of new medicines are projected to fuel development in the global biologics market. For instance, Novartis AG has invested around USD 700 million in its Singapore biologics plant, and Bristol-Myers Squibb has invested approximately USD 900 million in an Irish large-scale biologics plant in 2019. The Shire acquired Baxalta to manufacture a drug focused on biologics for treating genetic diseases and other specialized illnesses. Pfizer purchased Medivation specifically because of Xtandi, a prostate cancer drug. Pfizer has also acquired Ancor pharmaceuticals to strengthen the portfolio in inflammation and immunology. In November 2018, Roche and Abbvie received FDA approval for Venclexta, a BCL-2 inhibitor effective in the treatment of leukemia. Venclexta is jointly commercialized by Abbvie and Genetech, a part of Roche.

Table 1: Pfizer has the Following Biologics Pipeline to Treat Cancer:

Table 2: Phase 3 Biologics Pipeline

Source – Psoriasis Organization

Market Dynamics

The Rise in the Burden of Chronic Diseases

The drug delivery technologies market is primarily driven by the increasing prevalence of chronic diseases such as arthritis, cancer, depression, cardiovascular (heart) disease, asthma, and diabetes. According to the World Health Organization (WHO), 17.9 million people die each year due to cholesterol-related cardiac disorders which accounts for 31% of all deaths across the globe. Also, as reported by WHO, chronic disease prevalence is expected to surge by 57%, by 2020. The studies also estimated that 71% of the deaths may be caused due to ischemic heart disease (IHD), 75% due to stroke, and 70% due to diabetes, in the developing economies. An increase in the global prevalence of chronic diseases that necessitate innovative drug delivery technologies for treatment is likely to boost the market.

Moreover, the increasing geriatric population would fuel the growth of the cancer biological therapy industry during the projected years. According to the data provided by the WHO, it is predicted that the global population aging 60 years and above will reach 2 billion by 2050. Also, according to the American Cancer Society, the number of adults aged 85 years and older is likely to almost triple from 6.4 million in 2016 to 19.0 million by 2060. The aging population is more susceptible to cancer. Such high incidences impart the need for biological therapy to treat cancer, contribute to market growth.

Regional Analysis

North America to Lead the Global Drug Delivery Technologies Market

North America is expected to increase its market share in the drug delivery technologies market in the future, owing to the increasing incidences of chronic disease and rising aging population. According to the statistics provided by the National Health Council, around 133 million Americans are suffering from one or more chronic ailments, and by 2020, it is expected to grow at an estimate of 157 million. As per the Cancer Atlas, in 2018, approximately 1.9 million novel cancer cases and 693,000 cancer deaths occurred in Northern America. Since the drug injectable delivery system adoption rate is high among the population suffering from diseases such as diabetes and heart-related disorders, it is anticipated that the rising prevalence of chronic diseases will lead to the growth of the demand for drug delivery technology in the forecast period. Furthermore, greater implementation of enhanced medication delivery technologies, as well as follow-up of innovative treatment methods in healthcare, is fostering the regional market growth.

Asia-Pacific Drug Delivery Technologies Market to Grow at Rapid Pace

APAC drug delivery technologies market is primarily attributable to the expanded utilization of medication delivery services in healthcare facilities, the provision of insurance for a majority of the population, the rising incidence of chronic diseases (diabetes and cancer) coupled with the growing geriatric population. According to the UNFPA Asia-Pacific, the number of older people in the Asia-Pacific will triple reaching 1.3 billion by 2050, leading to a rising prevalence of chronic disorders.

In the highly fragmented APAC market for drug delivery systems, various producers are coming up with innovative products in the region. Besides, easy regulatory approvals in Asian countries have led mid-sized companies to enter the market and compete with local and established players. For example, in May 2018, Hindustan Syringes and Medical Devices (HMD) introduced the "Dispovan" insulin pen needle, the first disposable pen needle made in India that is technologically efficient and affordable compared to the products currently available on the market. Technological advancements to develop cost-effective technologies in developing nations like India and China offer a lucrative opportunity for drug delivery technologies market growth.

Segmental Analysis

Controlled Release Drug Delivery Systems Is Projected to Register Robust Growth

Shifting dosage patterns and rising physician’s preference for controlled release systems over traditional drug delivery systems are the key factors contributing to the segmental growth. The advantages provided by this technique such as high clinical effectiveness, improved patient compliance, and decreased care costs are further anticipated to accelerate development. Besides, as part of an intensely competitive and fragmented industry, pharmaceutical firms are pro-actively engaged in the production of a regulated distribution mechanism for the release of medications.

Furthermore, increasing R&D spending by these firms for developing a successful treatment for chronic and non-communicable diseases such as cancer, diabetes, and hypertension is adding up to segmental growth. For instance, in Dec 2019, Johnson & Johnson acquired TARIS Biomedical for the development of the novel drug delivery technology. The pipeline product TAR-200 (Gemcitabine) advocated for the treatment of bladder cancer uses a proprietary TARIS System, a controlled release drug delivery system is developed by Taris, a biotechnology firm focusing on the development of a novel drug delivery technology for the treatment of bladder diseases including cancer. The system features a silicone-based drug delivery device that enables the continuous release of medication into the bladder. 

Oncology Segment to Head the Application Segment

Based on application, the oncology segment is projected to hold a dominant share of the global drug delivery technologies market during the forecast period. The rising prevalence of cancer cases across the globe is creating a high demand for advanced treatment therapies. According to evaluations from the International Agency for Research on Cancer (IARC), in 2018, there were around 17.0 million new cancer incidences and 9.5 million cancer deaths across the globe. The World Cancer Research Fund (WCRF) predicts the number of cancer cases worldwide to exceed 24 million by 2035. This highlights the significant need for an advanced drug delivery system to treat cancer.

Furthermore, the dominance of this segment is also attributed to constant inventions by key players in drug offerings and extensive investments in research and development. For instance, in 2018, the U.S. Food and Drug Administration (FDA) approved or added novel indications to 47 drugs or biologics for oncology, and 20 such approvals in oncology have already been made in July 2019. Besides, research is currently ongoing on several biological therapies such as adoptive cell transfer, angiogenesis inhibitors, bacillus Calmette Guerin therapy, bio-chemotherapy, cancer vaccines, chimeric antigen receptor (car) T-cell therapy, cytokine therapy, gene therapy, immune checkpoint modulators, immunoconjugates, monoclonal antibodies, oncolytic virus therapy, and targeted drug therapy. Furthermore, the continuous launch of new products and upsurge in the number of patients is anticipated to drive the segment growth.

Impact of covid-19

The growing innovations and advancements in the industry are bolstering market growth. There are strategic acquisitions and mergers through which companies are trying to accelerate their position in the market. Companies are manufacturing these devices to provide a safer working business environment for employees.

Recent Developments

• In October 2020, Evonik launched an advanced oral drug delivery technology that offers enteric protection followed by a rapid, homogeneous release for effective targeting of the upper small intestine.