Report predicts growth for drug-delivery devices

Mike Verespej

Published: August 31, 2012 6:00 am ET

Related to this story

Topics Medical

BOSTON (Aug. 31, 2:10 p.m. ET) — A new report says that innovation in drug-delivery devices is poised to leap forward after years of incremental growth.

The report, released Aug. 29 by Boston-based Lux Research Inc., said that there is room for more advanced delivery devices including electronic-enabled devices because dozens of blockbuster drugs are coming off patent and many of those drugs only had basic delivery devices, or no delivery device.

“With a flagging drug pipeline and a looming patent cliff for drugs accounting for annual sales of $160 billion, new drug-delivery devices beckon drug-makers looking to shore up revenues,” said analyst Yan Xiang Yang, who was the lead author of the report, “Making Space for Innovation in Drug Delivery Devices.”

“Currently, top-selling drugs worth $124 billion rely on a variety of devices,” she said. “But with innovation increasing in the sector, only $59 billion of these now use advanced drug-delivery devices, while $65 billion worth are still basic devices crying out for an upgrade.”

“We contemplate that truly surprising solutions will appear out of need,” Yang said. “Delivery systems boost safety, efficacy, and sales of drug products. While their use is integral, applications of different delivery systems remain uneven and their full potential unrealized.”

Specifically, Yang sees opportunities for the entry of drug-delivery devices in:

• Therapies for severe conditions—such as cancer, ophthalmic disorders, hematologic disorders, rheumatoid arthritis, and multiple sclerosis—which require intensive and specialized therapies.

• Extended care, where $55 billion worth of frequently or chronically administered therapies rely on basic devices. 

“With the typical value of deliveries within the range of 2 percent to 5 percent of the final drug product, targeting basic-to-advanced deliveries may be looking at a $5 billion market,” she said.

• Markets where patients will expire.

“Over the next five years, 46 percent of the top-selling drugs go off patent,” said Yang. “Alternative delivery devices will not only potentially extend patent protection, but can also draw in customers to help grow, maintain, or at least minimize the loss of market share.”


Comments

Report predicts growth for drug-delivery devices

Mike Verespej

Published: August 31, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Some medical devices could get faster approval with new FDA rules

April 22, 2014 7:41 pm ET

The U.S. Food and Drug Administration is proposing an expedited approval for medical devices for devices aimed at the diagnosis or treatment of...    More

Image

Two Ohio groups team up to accelerate development of future medical devices

April 22, 2014 9:55 am ET

The Austen BioInnovation Institute in Akron and Cleveland-based design specialists Nottingham Spirk announced a strategic partnership that the two...    More

MGS buying N.Y. medical molding plant from Hospira

April 17, 2014 10:19 pm ET

MGS Manufacturing Group is purchasing the Buffalo, N.Y., injection molding facility and related product line of Hospira Inc., effective July 1. Terms ...    More

No action yet, but opposition still brewing to medical device tax

April 11, 2014 1:29 pm ET

Indiana politicians are stepping up their game in attempts to get the much-maligned medical device tax repealed.    More

Market Reports

Market Data Book - Rankings & Lists

A one-stop download of Plastic News' exclusive annual lists and processor rankings containing essential data including sales, employees, end markets, materials and more.
EXCLUSIVE EXCEL FEATURE: full mailing address details for available plant locations.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Mold Making and Tooling Review and Outlook 2014 North America

This report provides in-depth analysis of the mold and toolmaking market for North America, including discussions of trends, opportunities, threats, the latest developments in production and labor and equipment trends impacting moldmakers.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events