Oral Drug Delivery Systems Market: Introduction
- Drug delivery systems are employed to deliver therapeutic agents in a controlled manner. Drugs are delivered through various routes such as oral, nasal, and intravenous. They can be absorbed through the skin too. The oral route of drug delivery has undergone development over the last few years, with several technologies under clinical trials. Among these, oral drug delivery systems are available in the form of tablets and films.
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Key Drivers, Restrains, and Opportunities of Global Oral Drug Delivery Systems Market
- The global oral drug delivery systems market is anticipated to be driven by various factors during the forecast period, such as rise in the number of collaborations among market players, an increase in the demand for oral drug delivery technologies for use in the treatment of chronic diseases, and a rise in the prevalence of chronic diseases across the world. For instance, in December 2017, Shire, a biotechnology company manufacturing products for rare diseases, and Rani Therapeutics, an InCube Labs company, entered into a collaboration to conduct research on use of the Rani Pill technology for oral delivery of the Factor-VIII (FVIII) therapy indicated for hemophilia A. This collaboration enabled the two companies to enhance their R&D efforts and offer promising therapies for rare diseases. In December 2018, Gensco Pharma, a manufacturer of prescription transdermal products, entered into a definitive licensing, development and supply agreement with IntelGenx Corp, an oral drug delivery company, for commercialization of RIZAPORT, an oral thin film used in the treatment of migraine, in the U.S. market.
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Global Oral Drug Delivery Systems Market: Segmentation
- The global oral drug delivery systems market can be segmented based on product, end-user, and region. In terms of product, the market can be divided into thin films, tablets, solutions & syrups, and granules. In terms of end-user, the market can be categorized into hospitals, ambulatory surgical centers, home healthcare, and others. The home healthcare segment is expected to account for a prominent market share during the forecast period, owing to a rise in the rate of adoption of oral drug delivery systems by healthcare professionals, especially in developed countries such as the U.S.
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North America to Capture Major Share of Global Oral Drug Delivery Systems Market
- The global oral drug delivery systems market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for a significant market share during the forecast period. The market in the region is anticipated to be driven by an increase in the number of patent approvals by the FDA, technological advancements, and research on the use of nanotechnology for drug delivery in the region. For instance, in March 2019, Oramed Pharmaceuticals Inc., a clinical-stage pharmaceutical company developing oral drug delivery systems, received a U.S. patent for its technology called “Protease Inhibitor-containing Compositions, Compositions Comprising the Same, and Methods for Producing and Using the Same.” Furthermore, the U.S. is anticipated to hold a prominent share of the oral drug delivery systems market in North America during the forecast period, owing to rapid adoption of new drug delivery technologies and presence of research centers developing innovative drug delivery systemsin the country. Germany is expected to hold a key share of the Europe market from 2021 to 2027, due to an increase in the number of biotechnology and pharmaceutical companies focusing on research activities and use of advanced technologies in the country. The oral drug delivery systems market in Asia Pacific is anticipated to expand at a significant rate during the forecast period, due to an increase in the number of research institutes and universities conducting research on drug delivery and a rise in awareness about oral drug delivery technologies in China, Japan, and India. For instance, scientists at the Indian Institute of Chemical Technology, Hyderabad (India) have developed potential nanoparticles to administer DNA (deoxyribonucleic acid) and siRNA (short interfering ribonucleic acid) as therapeutic materials through the oral route.
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Key Players Operating in Global Oral Drug Delivery Systems Market
The global oral drug delivery systems market is highly concentrated due to the presence of key players. A large number of manufacturers hold major share in their respective regions. Demand for products to treat chronic diseases has increased in emerging as well as developed markets. Growth strategies adopted by leading players are likely to drive the global oral drug delivery systems market.
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