US Demand for Drug Delivery Products to Reach $251 Billion
US Demand for Drug Delivery Products to Reach $251 Billion
Demand for drug delivery products in the US is projected to increase 6.1% annually to $251 billion in 2019. Specialized dosage formulations that improve therapies for autoimmune, cancer, cardiovascular, neurological, viral, and other debilitating disorders will lead gains. Included in this group are human and humanized monoclonal antibodies, polymer-encapsulated medicines, and brachytherapy seeds. Among drug delivery devices, pen injectors, and retractable prefillable syringes will record the fastest growth based on safety, infection prevention, and ease-of-use advantages. These and other trends are presented in Drug Delivery Products, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
Demand for oral drug delivery products is forecast to rise 4% annually to over $130 billion in 2019. Because of bioavailability and reduced dosing advantages, controlled-release formulations will continue to dominate revenues. On the downside, patent expirations and generic competition will soften overall growth prospects for this product segment.
Demand for parenteral drug delivery products is projected to rise over 10% annually to $86.5 billion in 2019. Advances in monoclonal antibodies and polymer-encapsulated medicines will underlie growth. According to analyst Bill Martineau, “The use of new and existing therapies based on human and humanized monoclonal antibodies will improve the effectiveness of therapies against various forms of cancer as well as against other debilitating disorders, such as allergy-linked asthma, Crohn’s disease, rheumatoid and psoriatic arthritis, and wet age-related macular degeneration.”
Enhanced bioavailability and reduced toxicity advantages will boost applications for polymer-enhanced medicines in the treatment of such conditions as cancer complications, hepatitis B and C, and multiple sclerosis. Prefillable syringes will account for the largest and fastest growth among parenteral devices over the long-term. Improvements in safety features, such as retracting needles, along with overall infection prevention and response time advantages, will underlie growth. Prefillable syringes will also broaden self-use applications based on advances in pen injectors.
© 2015 by The Freedonia Group, Inc.
Drug Delivery Products (published 12/2015, 373 pages) is available for $5300 from The Freedonia Group, Inc. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or e-mail pr@freedoniagroup.com. Information may also be obtained through www.freedoniagroup.com.
Contact:
Corinne Gangloff
Media Relations
The Freedonia Group, Inc.
Cleveland, OH
+1 440.684.9600
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