Acquisitions like That of Dicerna Pharmaceuticals by Novo Nordisk to Propel the Growth of Advanced Drug Delivery Market

Drug delivery systems refer to manufacturing techniques or storage systems that are used to transport a pharmaceutical component or a drug to its intended target site to get the desired medical result. Route of administration and dosage form are the two main aspects of drug delivery systems. In advanced drug delivery systems, the mechanism is thus used so as to control the rate of release of the involved pharmaceutical drugs. This helps in targeting and delivering the drugs to intended sites more precisely and in a more accurate fashion. As a result, there is enhanced drug absorption and reduced variability in drug concentrations.

Forecast Analysis:

Over the years, there has been a growing incidence of cancer among the global populations along with other chronic ailments like heart diseases, obesity, diabetes, etc. This is mainly due to the sedentary lifestyle and increased intake of high-calorie foods. This growing incidence of serious ailments is one of the main growth drivers of the advanced drug delivery market. Along with this, technological developments in the medical world with respect to innovations in the field of drug delivery systems are expected to drive the market further. Additionally, there has been a growth in the application of nanoparticle-based drug delivery systems. This is expected to offer numerous growth opportunities to the market. However, poor bioavailability of nanoparticle-based drug delivery systems is expected to create hindrances in the growth of the advanced drug delivery market.

The advanced drug delivery market in the Asia-Pacific region is expected to have the fastest growth rate with a CAGR of 11.0% in the 2021–2028 timeframe. Development of better infrastructure facilities is expected to be the primary growth driver of the market in this region. Moreover, increasing availability of advanced drug delivery systems and growing patient pool are further expected to augment the growth rate of the market in the coming years.

As per a report by Research Dive, the global advanced drug delivery market is expected to reach a revenue of $94,352.5 million in the 2021–2028 timeframe, thereby growing at CAGR of 10.0% by 2028. Some prominent market players include Altaris, 3M, Bausch Health Companies Inc., GALDERMA, Ocular Therapeutix, Inc., Raphas Co., Ltd., Novo Nordisk A/S, NanoPass, Takeda Pharmaceutical Company Limited, Micropoint Technologies., and many others.

Covid-19 Impact on the Advanced Drug Delivery Market:

The Covid-19 pandemic and the subsequent lockdowns have had a catastrophic impact on various businesses and markets worldwide. The advanced drug delivery market too was severely affected due to the pandemic as all the R&D activities in this field were halted along with the production of advanced drug delivery technologies. However, market analysts predict a growth in this market in the post pandemic scenario as the research that was stopped due to the pandemic has started gaining pace once again and is sure to create numerous growth opportunities for the market. Along with this, innovations in the nanocarrier technology are further expected to boost the advanced drug delivery market in the post-pandemic scenario.

Significant Market Developments:

The key players of the market are adopting various business strategies such as partnerships, mergers & acquisitions, and launches to gain a leading position in the market, thus helping the advanced drug delivery market to flourish. For instance:

In March 2021, Intech Pharma, a Jerusalem-based pharmaceutical company, announced the merger with Decoy Biosystems, a US-based biotechnology company. Intech Pharma is already a leading player in this market due to its flagship product known as Accordion Pill, an oral drug delivery system. This merger will help both the companies to expand its presence in the market.

In September 2021, Sanofi, a French multinational healthcare company, announced the acquisition of Kadmon, a US-based biotech company. This acquisition will help Sanofi to increase its scale of research and development in the field of drug delivery, and thereby help it in increasing its market share.

In December 2021, Novo Nordisk, a Danish multinational pharmaceutical company, announced the acquisition of Dicerna Pharmaceuticals, a US-based biotech company. This acquisition will help Novo Nordisk to expand its customer base by launching several medical products, and also help in garnering a much larger market share than what it is holding currently.