Drug delivery market to reach $199bn by 2016, says GBI Research
A report by GBI Research predicts the drug delivery market will grow by 10.3 per cent annually in the years leading up to 2016.
The report states that recent patent expiries for blockbuster drugs and potential patent losses are causing major pharmaceutical companies to reposition and reformulate drugs.
This, according to GBI Research, has resulted in significant growth in the drug delivery market over recent years, which is expected to rise from $101bn in 2009 to $199bn by 2016.
The oral drug delivery market holds the biggest presence in the overall drug delivery market, with 52 per cent of the market share. It is expected to reach $92bn by 2016, up by 11.3 per cent each year.
GBI Research said advanced technologies allowing controlled release formulations of oral drugs and oral formulations of injectable drugs will be the driving force behind the expected growth.
