Sales of drug delivery products are expected to increase by 100% over the next five years.
Sales of drug delivery products are expected to increase by 100% over the next five years as technologies currently being researched and developed reach fruition and are commercialized, according to "Drug Delivery Technologies and Markets," a new publication from London-based research company Informa Pharmaceuticals.
Currently, the market for special drug delivery technology is $50 billion a year, or 12.5% of world total pharmaceutical sales; by 2005, sales of delivery products are likely to exceed $100 billion, predicts the 200-page report. "Drug delivery will expand faster than the total pharmaceutical market," said Kewal Jain, author of the report.
Within this market, needle-free injector systems appear to be set for huge expansion from the current sales of $400 million a year, equivalent to 5% of the total needle/syringe market, to $1 billion by 2005. "Needleless injections could offer significant cost savings for cash-strapped health providers," said Jain. "The cost of needles and syringes is 1 million pound sterling per one million injections, whereas the same number of injections would cost 100,000 to 200,000 pounds using needleless injector systems."
Gene therapy is likely to be one of the most active growth sectors as biotech companies become involved in drug delivery. Currently, no product in this category has reached the market, but several are in phase III clinical trials. By the year 2005, some of these products will reach the market, with an estimated value of $5 billion. PR
The Weight-Loss Gold Rush: Legal and Regulatory Implications
July 11th 2024Jim Shehan, chair of the FDA Regulatory practice, Lowenstein Sandler, discusses how the FDA and other regulators likely to respond to the increased public interest and potential off-label use of GLP-1 drugs, what needs to be done for GLP-1s to be covered, advice for investors and financiers considering entering the weight-loss medication market and more.
Healthcare Marketing Strategies for Reaching Diverse Audiences
May 14th 2024Amanda Powers-Han, Chief Marketing Officer, Greater Than One, and Pharmaceutical Executive Editorial Advisory Board member, discusses how improved DE&I in healthcare marketing strategies can not only reach diverse audiences more effectively but also contribute to improved patient care outcomes, challenges faced in crafting culturally sensitive messages, and much more.