DRUG DELIVERY TECHNOLOGIES MARKET ANALYSIS

One of the key challenges for the global drug delivery technologies market is the risk of needlestick injuries associated with traditional injectable drug delivery such as syringes and needles. Needlestick injuries pose severe health and safety risks to healthcare professionals as it can potentially expose them to blood-borne pathogens such as hepatitis B, hepatitis C, and human immunodeficiency virus (HIV). It has been estimated by the World Health Organization (WHO) in November 2023 that around 3 million needlestick injuries occur among healthcare workers globally each year.

Market Opportunity - Growth in biologics and biosimilars driving demand for advanced drug delivery systems

The growing pipeline of biologics and biosimilars offers lucrative opportunities for drug delivery technologies market players. Biologics are usually administered through injectable routes but have limited shelf life and stability issues when stored at room temperature in traditional delivery forms like vials. This necessitates the need for advanced drug delivery systems such as pre-filled syringes, patch pumps, and auto-injectors that provide benefits of safe and convenient long-term storage and administration of biologics.