NEW YORK, Jan. 19, 2017 /PRNewswire/ -- The global drug and gene delivery systems market is expected to reach USD 786.9 Billion by 2025, according to a new report by Grand View Research, Inc. Rising investment by the market players to develop innovative drug delivery systems to cater to the demand by the patients as well as to increase the bioavailability at minimum quantity of active pharmaceutical ingredient is driving the market growth. Additionally, increasing focus on R&D of gene delivery systems owing to the high growth potential of gene therapy for the treatment of a wide range of diseases is expected to fuel the market growth in the future.
Drug delivery systems are in a constant evolution along with the changing preference by the patient. For instance, initially, hormone replacement therapy was widely prescribed in the form of pills, whereas, it is now available in the form of prefilled syringes, patches, vaginal rings, gel, and sprays. The principal purpose of development of different forms of delivery systems is to increase the ease of use. Factors such as aesthetics of the delivery systems, price, and amount of API are also considered while designing the drug delivery system.
Further Key Findings from the Study Suggest:
The market study suggests that oral segment dominated the market in 2015
The convenience of use and low manufacturing cost are the prime factors responsible for the dominance of the oral delivery segment
Injectable segment is expected to show a lucrative growth rate owing to the introduction of technically advanced injecting devices that enable convenient self-injection
North America dominated the market in 2015 and is expected to remain dominant throughout the forecast period owing to highly developed healthcare infrastructure and high healthcare spending
Asia pacific is expected to exhibit the fastest growth rate during the forecast period owing to the factors such as rapidly developing economies, growing disposable income, and high adaption of the advanced delivery systems
A few of the major market players in drug delivery systems space are F. Hoffmann-La Roche Ltd, Pfizer, Inc., Johnson and Johnson private Ltd, Novartis AG, Becton, Dickinson and Company, and Bayer AG.
Major market players in the gene delivery systems space are SiBiono GeneTech Co., Unique N.V., Epeius Biotechnologies Corporation, Human Stem Cells Institute, and Shanghai Sunway Biotech Co., Ltd.
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