BURLINGTON, Mass., Aug. 6, 2014 /PRNewswire/ -- Decision Resources Group finds that the United States drug delivery device market will grow at a strong rate to reach a value of over $4.5 billion by 2022 (including device costs only). The future of the drug delivery device market is highly dependent on the pharma industry. Because certain types of drugs are only conducive to specific delivery methods, the kinds of new drugs developed will influence the structure of and innovation in the drug delivery market going forward.
Other key findings from Decision Resources Group's coverage of the U.S. drug delivery device market:
- Injection devices: Injection devices continue to represent the majority of revenues because diabetic patients largely adopt pen injectors over traditional drug delivery methods, such as insulin pumps or syringes. Leading companies Novo Nordisk, Sanofi and Eli Lilly are also developing new versions or more complex pen injectors, which are expected to launch within the next ten years.
- AFREZZA inhaler: MannKind recently received approval for the AFREZZA inhaler, which is the first inhaler that can deliver insulin. Because drugs delivered via inhalers are absorbed rapidly by the body, this has the potential to disrupt the traditional insulin delivery device markets. Nonetheless, physicians will need more clinical evidence before the AFREZZA inhaler is widely adopted.
- Active transdermal patches: Within the transdermal patch market, the development of active patches will enable the treatment of more indications by allowing larger molecules to pass through the skin barrier. The approval of Teva's Zecuity migraine patch in January 2013 represented the first active transdermal patch to become available in the United States.
Comments from Decision Resources Group Senior Analyst Carmen Chan:
- "A number of new technologies are poised to affect the drug delivery device market in the future. For example, microneedle patches are another type of active patch under development with manufacturers focusing on vaccinations and osteoporosis treatment; both aren't commonly treated with current drug delivery devices."
- "Subcutaneous implants represent another major product innovation because they eliminate the risk of poor patient compliance, which is currently a significant problem with drug delivery. While current implants serve niche markets, products in development will target widespread conditions like diabetes and hernias."
- Carmen Chan has written a Medtech 360 report on this subject entitled US Markets for Drug Delivery Devices 2014.
- Decision Resources Group's Pharmacor, which provides a commercial outlook on drugs on the market and in development, can be found here.
- Decision Resources Group's PatientBase, which determines the total patient and drug-treated populations, can be found here.
About Decision Resources Group
Decision Resources Group offers best-in-class, high-value information and insights on critical issues within the healthcare industry. Clients rely on this analysis and data to make informed decisions. Find out more at www.DecisionResourcesGroup.com.
For more information, contact:
Decision Resources Group
All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.
SOURCE Decision Resources Group