PUBLISHER: The Business Research Company | PRODUCT CODE: 1425303
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425303
Buccal Drug Delivery System Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on buccal drug delivery system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for buccal drug delivery system? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The buccal drug delivery system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The buccal drug delivery system involves administering the desired medicine through the buccal mucosal membrane lining of the mouth cavity. This method is effective for delivering mucosal and transmucosal drugs. Mucosal drug delivery aims for site-specific drug release on the mucosa, whereas transmucosal permeation entails drug absorption across the mucosal barrier and into the systemic circulation.
The main types of buccal drug delivery systems include sublingual, buccal tablets and lozenges, and oral sprays. The term sublingual refers to the route of administration for systemic medication delivery of buccal drugs. These are applied in various applications such as pain management, smoking cessation, and angina pectoris, and are utilized by hospitals, ambulatory care centers, and other healthcare facilities.
The buccal drug delivery system market research report is one of a series of new reports from The Business Research Company that provides buccal drug delivery system market statistics, including buccal drug delivery system industry global market size, regional shares, competitors with a buccal drug delivery system market share, detailed buccal drug delivery system market segments, market trends and opportunities, and any further data you may need to thrive in the buccal drug delivery system industry. This buccal drug delivery system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The buccal drug delivery system market size has grown rapidly in recent years. It will grow from $3.28 billion in 2023 to $3.64 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to early innovations in drug delivery, the adoption by the pharmaceutical industry, clinical studies demonstrating efficacy, market penetration strategies, and disease-specific applications.
The buccal drug delivery system market size is expected to see rapid growth in the next few years. It will grow to $5.43 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to patient-centric drug delivery, the rising geriatric population, demand for targeted therapies, delivery of biologics and peptides, regulatory support and approvals, and investments in research and development. Major trends in the forecast period include a focus on patient convenience and compliance, advancements in drug formulations, an increase in chronic diseases, attention to pediatric and geriatric care, and enhanced bioavailability.
The buccal drug delivery systems market is expected to experience growth due to the rising prevalence of chronic diseases. Chronic diseases, such as cardiovascular diseases, cancer, chronic respiratory diseases, and diabetes, persist for an extended period and require continuous medical care. The World Health Organization reported that 74% of the 41 million global deaths annually are caused by non-communicable diseases (NCDs) or chronic diseases. Buccal drug delivery systems provide an effective means of administering mucosal and transmucosal drugs, making them suitable for patients with chronic conditions. This increasing prevalence of chronic diseases contributes to the growth of the buccal drug delivery systems market.
The buccal drug delivery systems market is expected to be propelled by the increasing demand in hospitals. Hospitals, as specialized facilities for medical treatment and care, have a growing need for buccal drug delivery systems. These systems offer advantages such as rapid drug absorption, improved patient compliance, reduced gastrointestinal side effects, and controlled drug release. According to the American Hospital Association, the total number of hospitals in the United States increased to 6,129 in comparison to 6,093 in the previous year. The rising number of hospital admissions further supports the demand for buccal drug delivery systems, driving market growth.
Investments in injectable drug delivery systems emerge as a key trend in the buccal drug delivery systems market. Major pharmaceutical companies, such as Novartis, are making significant investments in innovative drug delivery systems. Novartis invested approximately $40 million in Credence MedSystems, a company focused on developing innovative drug delivery systems. This trend reflects a broader industry focus on advancing drug delivery technologies to improve patient outcomes and enhance treatment effectiveness.
Companies operating in the buccal drug delivery systems market are focusing on product launches to drive revenues. One notable example is the launch of melatonin oral spray by Arlak Biotech Private Limited. Melatonin oral spray provides an easy and effective way to facilitate the body's natural production of melatonin, aiding in improving sleep quality. This type of product launch addresses specific healthcare needs, contributing to the growth of the buccal drug delivery systems market.
In April 2023, DifGen Pharmaceuticals LLC, a US-based pharmaceutical company, acquired Aveva Drug Delivery Services Inc. This strategic acquisition aimed to enhance DifGen's research and development (R&D) and manufacturing capabilities, ensuring a secure supply of high-quality and cost-effective medications. Aveva Drug Delivery Services Inc. specializes in buccal drug delivery systems, aligning with DifGen's goal of providing advanced and reliable pharmaceutical solutions.
Major companies operating in the buccal drug delivery system market report are Teva Pharmaceuticals Industries Ltd., Pfizer Incorporated, GlaxoSmithKline Public Limited Company, Indivior PLC, Generex Biotechnology Corporation, Catalent Inc., Arx Limited Liability Company, BioDelivery Science International Incorporated, Cynapsus Therapeutics Incorporated, Endo Pharmaceuticals Public Limited Company, Medlab Clinical Ltd., AstraZeneca PLC, F Hoffmann-La Roche Limited, Dr. Reddy's Laboratories Ltd., Takeda Pharmaceutical Company Limited, Novartis AG, Novo Nordisk A/S, Ethypharm SAS, Applied Pharma Research SA, Sunovion Pharmaceuticals Inc., Sanofi SA, Bayer AG, Adare Pharmaceuticals Inc., NAPP Pharmaceutical Ltd., Perrigo Company PLC, Reckitt Benckiser Group PLC, Teligent Pharma Inc., Par Pharmaceutical Companies Inc., Acorda Therapeutics Inc., and Opiant Pharmaceuticals Inc.
North America was the largest region in the buccal drug delivery systems market share in 2023. The regions covered in the buccal drug delivery system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the buccal drug delivery system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The buccal drug delivery system market consists of the sales of drug ingredients such as insulin, nicotine, tizanidine, triptan, nifedipine, flurbiprofen, sodium carboxymethylcellulose, carbopol, glibenclamide, hyaluronic acid, and xanthan gum. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.