The Asia Pacific the pharmaceutical drug delivery market is anticipated to reach US$ 4,73,700.1 Mn by 2027 from US$ 2,77,589.9 Mn in 2019. The market is projected to grow at a CAGR of 7.1% during 2019-2027.
The growth of the pharmaceutical drug delivery market in this region is primarily attributed to the increasing shortage of medicines in various countries. However, the low R&D funding by governments of developing economies hampers the growth of the market. On the other hand, growing emerging markets is expected to have a positive impact on the growth of the Asia Pacific pharmaceutical drug delivery market in the coming years.
Drug delivery systems are medical devices used to inject drugs or therapeutic chemicals into the body. Several types of the drug delivery systems available in the market include transmucosal, oral, pulmonary, injectable, topical, nasal, implantable, and ocular, among others. These systems are enabled with the technologies that are primarily used to have a controlled or targeted delivery of various therapeutic agents for the treatment of multiple diseases.
The shortage of essential medicines and drugs is becoming more frequent issue in Asia Pacific. This is resulting in a burden on the health systems, with additional costs as well as risk to the patients’ health. The patients in need of medicines lack access to appropriate doses due to the unavailability of drugs. According to WHO Drug Information 2016, the shortages of essential medicines have been reported from low, middle, and high-income countries. The shortages of medicines as a result of non-treatment, under-treatment, and possible medication errors from attempts to substitute missing medicines.
According to the Food and Drug Administration (FDA), quality-related problems, manufacturing inefficiency and delays, and product discontinuation are among the main reasons that lead to drug shortage. The drugs that are often short in supply include sterile injectable and oncology/cancer therapeutics. The notice from manufacturers to the FDA regarding the impending or current shortages of drugs allows the FDA to work with the manufacturers over finding feasible solutions, one of which is usually ramping up the manufacturing of drugs through the implementation of new and advanced systems. Thus, to meet the rising demand for biologics and drugs as well as to curb the lack of drug availability, the market is expected to hold a promising growth in the coming years in the region.
In 2019, the injectable drug delivery segment accounted for the largest share of the Asia Pacific pharmaceutical drug delivery market, based on the route of administration. However, the topical drug delivery segment is estimated to mark the highest CAGR in the market during the forecast period, owing to the increasing number of patients with skin diseases and a gradual shift of patient preference toward novel, transdermal delivery systems.
A few of the significant primary and secondary sources for pharmaceutical drug delivery included in the report are Chinese Academy of Sciences (CAS), Australian Research Council (ARC), Centers For Disease Control And Prevention (CDC), Food and Drug Administration (FDA), Ministry of Health and Prevention (MoHAP), Ministry of Health and Family Welfare (MoHFW), and among others.