Drug Delivery Systems Market to Expand at a Modest CAGR of 6.9% by 2025

The report offers detailed segmentation of the global drug delivery system market based on delivery system, application, route of administration, and geography. In terms of delivery system, the targeted drug delivery segment is expected to account for a dominant share of the global market during the forecast period. Simplified drug administration protocols, avoidance of first pass metabolism, lower dose required as compared to the conventional drug delivery, and higher therapeutic effect in small doses are some factors propelling the segment. The polymeric drug delivery segment is likely to expand at a considerable growth rate during the forecast period. Polymeric drug delivery systems allow localized drug delivery in large quantity for the treatment of chronic diseases such as cancer (more specifically, solid tumors) with lower toxicity. This is a major factor driving the segment.

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Drug delivery includes formulations, technologies, methods, and systems for transferring an active pharmaceutical ingredients into the body to safely provide therapeutic effect. The global drug delivery systems market was valued approximately US$ 510 Bn in 2016 and is anticipated to expand at a CAGR of over 6.9% from 2017 to 2025 to reach approximately US$ 900 Bn by 2025. Increase in demand for self-administration and home health care devices are likely to fuel expansion of the global drug delivery systems market from 2017 to 2025.

In terms of value, North America was leading contributor to the global drug delivery system market in 2016. North America accounted for a key share of the market due to rise in prevalence of acute and chronic diseases in the U.S. According to WHO report 2016, non-communicable diseases accounted for 23% of total deaths in the U.S. Moreover, availability of advanced technology and facilities in the health care system also drive the drug delivery system market in the U.S. Moreover, rise in research & development spending in emerging markets such as Singapore and Japan is fueling the market in Asia Pacific. Economic growth in countries such as Brazil is increasing health care expenditure through the rise in private health insurance and entry of international drug manufacturers and health care providers in Latin America. Hence, the market in the region is likely to expand at a CAGR of 5.5% from 2017 to 2025.

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Continuous innovations in the global drug delivery systems market is creating opportunities for major and local manufacturers to develop wide product portfolio. Additionally, collaborations among major market players for superior technological advancements in drug delivery offerings is likely to drive the global drug delivery systems market during the forecast period. Using nanotechnology, the drug can be targeted to a precise location, which makes drugs more effective and reduce the chances of possible side effects. Major manufacturers operating in the market are involved in continuous research & development activities to expand their already wide product portfolio. For instance, on September 2017, Baxter International Inc. announced the launch of DeviceVue, an asset tracking system for sigma spectrum infusion system whereas, emerging players operating in the market are also focusing on introducing new versions of their existing drug delivery devices. Continuous expansion of drug delivery systems offering in high throughput along with reduced waiting time and improved result specificity are likely to drive the global drug delivery systems during the forecast period. However, high cost associated with treatment and increase in drug recalls are likely to restrain the global drug delivery systems market during the forecast period.

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