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Material innovations and sophisticated manufacturers provide unique opportunities for custom drug delivery devices for pharma firms.
June 4, 2024
By: Mark Crawford
Contributing Writer
Estimated at a value of $270 billion in 2023, the global drug delivery devices market is expected to grow at a compound annual growth rate (CAGR) of 5.83%, reaching about $403 billion by 2030, according to Grand View Research. “Increasing adoption of advanced technology for effectively delivering drugs on the target site is expected to drive the overall market growth,” according to the report.1 Major categories for drug delivery include cardiovascular, oncology, neurology, infectious diseases, respiratory, diabetes, and autoimmune diseases. Oncology holds a significant share of the market; so do central nervous system disorders, which are estimated to grow at a CAGR of 6.6% over the forecast period, due mostly to the increase in neurological disorders such as Parkinson’s, Alzheimer’s disease, and other central nervous system conditions.1 With these various segments all hoping to score the next breakthrough, the drug delivery industry is a highly competitive market, “with pharmaceutical companies vying for an edge in delivery methodologies to align with patient preferences and yield billion-dollar outcomes,” said Ned Burnett, strategy and innovation manager for Saint-Gobain Medical, a Solon, Ohio-based manufacturer of high-performance polymer solutions and components for the medical device industry. “Similarly, for device manufacturers, being included in a patient’s preferred route of administration holds immense volume prospects, making the industry highly competitive from both angles.” “Numerous companies are striving to develop novel products that address unmet medical needs and improve patient outcomes,” added Rory O’Keeffe, commercial director for Europlaz Technologies, an Essex, U.K.-based provider of engineering and manufacturing services for the medical device industry. “Collaboration between pharmaceutical and medical device companies is becoming increasingly common as they work together to create integrated solutions for healthcare delivery—especially combination products.” To leverage each other’s specialties and markets, pharma companies and contract development and manufacturing organizations (CDMOs) have undergone consolidation in recent years, such as Novo Nordisk’s pending acquisition of Catalent, a major CDMO—in part to ensure sufficient future manufacturing capacity for two major diabetes and weight loss products, Ozempic and Wegovy. “Industry cycles follow the R&D budgets of big pharma and venture capital investments in earlier-stage pharma companies,” said James Arps, director of pharma services for ProMed Pharma, a Plymouth, Minn.-based provider of injection molding and hot melt extrusion of drug-loaded silicones and thermoplastics for delivery systems and combination devices. “Companies that specialize in relatively unique offerings such as long-acting dosage forms and implantable combination products may see relatively less competition.”
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