Global drug delivery technology market will reach $198.4 billion in 2017

Tuesday 2 July 2013, Amsterdam

A new report predicts that world drug delivery technology market revenues will reach $198.4bn in 2017. That market generated $122.3bn in 2012, according to Drug Delivery Technologies: Commercial Prospects 2013-2023, published in May 2013

The market for drug delivery technology (DDT) has expanded rapidly in recent years, with impressive sales growth and important trends. These technologies provide pharmaceutical companies with novel strategies for the delivery of biologically active drug candidates. Developments in DDT offer valuable options for product line extensions. Furthermore, drug manufacturers continuously strive to develop drug delivery options that provide patient-friendly dosage forms. Consequently, drug delivery technology will continue to play an important role in developing next generation drugs, particularly in biologics and vaccines.

Dr Syed Ahmed, a senior healthcare industry analyst says ‘’Drug delivery technology platforms are used by pharmaceutical companies for a number of reasons. These range from extension of product life cycle through to providing novel, innovative and convenient ways for delivering drugs to the patients.

‘‘Drug delivery systems are an enabling technology that can improve the bioavailability of drugs or add convenience and safety. Some molecules such as oligos and peptides have an intrinsic need for good delivery systems and novel technologies are playing a very important role there. Also, these technologies are essential for enhancing efficacy, reducing risk profile and increasing convenience and compliance. In addition, they are important for introducing products into newer markets such as paediatrics.’’

Forecasts that the overall market for drug delivery technologies will grow steadily to 2023. An increasing focus on biologics and other innovative treatments in a wide range of therapeutic areas will drive the sector.