Report : Europe Small Molecule Drug Delivery Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Therapeutic Area (Oncology, Central Nervous System, Cardiovascular, Respiratory, Orthopedics, Immunology, Rare Diseases, and Other Therapeutic Areas); Process/Phase (Target Discovery, Target Validation, Lead Generation and Refinement, and Preclinical Development), and Country
Rare diseases segment by therapeutic type is estimated to lead the market growth during the forecast period
According to The Insight Partners market research study of “Europe Small Molecule Drug Delivery Forecast to 2027 - COVID-19 Impact and Global Analysis by Therapeutic Type and Process/Phase, ”the Europe Small molecule drug delivery is projected to reach US$ 13,381.71 million by 2027 from US$ 6,835.97 million in 2019. The market is estimated to grow at CAGR of 9.0% from 2020 to 2027. The report highlights trends prevailing in the Europe small molecule drug delivery market and the factors driving market along with those that act as hindrances.
Based on therapeutic type, the Europe small molecule drug delivery market is further segmented into oncology, central nervous system, cardiovascular, respiratory, orthopedics, immunology, rare diseases, and other therapeutic areas. The oncology segment held the larger share of the market in 2019, however, rare diseases is anticipated to register the highest CAGR in the market during the forecast period. Many pharmaceutical companies are collaborating with biotech startups engaged in the development of innovative drug candidates for the treatment of rare disorders. For instance, in 2019, Novartis entered into a licensing and development agreement with Pharming group for the treatment of rare disease for US$ 20 million. As per this agreement. Pharming will develop and commercialize company’s CDZ173, which is a small phosphoinositide 3-kinase delta inhibitor to treat APDS. This is strengthening the enhancing of small molecule drug discovery in the forecast period.
Europe small molecule drug delivery market is expected to grow owing to factors such growing demand for R&D from contract organizations and growing developments and start-ups in small molecules drug delivery market. However, high cost associated with drug development is expected to restraint the growth of the market during the forecast years. Moreover, growing small molecule drug delivery product approvals and collaborations is likely to provide opportunity for this market to grow.
Merck KGaA, GlaxoSmithKline plc, AstraZeneca, Boehringer Ingelheim International GmbH, Allergan Plc, Pfizer Inc., Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc, Teva Pharmaceutical Industries Ltd, are among the leading companies operating in the Europe small molecule drug delivery market.
The report segments in Europe small molecule drug delivery market as follows:
By Therapeutic Area