Researchmoz elucidates the market dynamics of the advanced drug delivery market including market size, growth drivers, restraints, trends, opportunities, segment dominance, and competitive edge.
The burgeoning chronic diseases are expected to strengthen the market during the forecast period.
Factors Driving and Restraining the Market
Some of the determinants of the growth of the advanced drug delivery market include-
The advanced technology in the drug delivery system is expected to drive the market towards significant growth.
For instance- West Pharmaceuticals getting into an agreement with Corning Incorporated for advanced technology for an advanced injectable drug delivery system to offer better safety for patients
Benefits such as target-oriented therapy, reduced dosing frequency, lower toxicity, and increased efficacy are anticipated to bolster the market significantly during the forecast period.
Rising investment in research and development in biotechnology and genetic engineering is expected to boost the demand for advanced drug delivery in the forthcoming years.
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The controlled dosing system provides better patient compliance, and easy treatment methods, owing to the market expansion of advanced drug delivery during the forecast period.
The rapid development in nanotechnology and the development of nanoparticles to overcome the barriers of conventional methods of drug delivery are expected to drive the expansion of the market in the following years.
The global advanced drug delivery market is expected to grow exponentially at a noteworthy CAGR of 16.0% between 2020 to 20230, marking up to the estimated value of USD 1,95,132.45mn.
The first drug delivery system originated in 1855, in the form of syringes, however, it is since 1970 that the advent of the drug delivery system started gaining traction, now paving way for advanced drug delivery systems with next-generation drug delivery technologies.
The development of nanoparticles aims at the controlled release of drugs offering therapeutic efficacy and lower toxicity to meet the unmet needs in healthcare facilities.
Some of the existing key players of the advanced drug delivery market are –
- Alnylam Pharmaceuticals Inc.
- Endo International Plc.
- Biogen Limited
- Micropoint Technologies
- Bausch Health Companies Inc. (Bausch & Lomb)
- Altaris Capital Partners Llc. (Kindeva Drug Delivery)
- Novo Nordisk A/S
- Takeda Pharmaceutical Company Limited.
- Johnson & Johnson (Johnson & Johnson Vision)
- Ocular Therapeutix Inc.
Product/Type Disposition (Revenue in USD million)
- Oral Drug Delivery System
- Injection based Drug Delivery System
- Inhalation/ Pulmonary Drug Delivery System
- Transdermal Drug Delivery System
- Parenteral Drug Delivery System
Application Disposition (Revenue in USD million)
- Nano Particles
- Monoclonal Antibodies
- End Users Dispositions (Revenue in USD million)
- Specialized Clinics
- Clinical Research & Development Centres
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- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
The development of smart drug delivery is quintessential for intelligently targeted therapeutics.
Groundbreaking approaches and strategies such as nanotechnology is expected to advance the treatment approaches and drug performances.
The controlled oral delivery system is expected to gain traction in the advanced drug delivery market due to being less expensive, easy to administer, and less painful as compared to other modes of drug delivery.
The market is moderately competitive; however, it is quite challenging to penetrate the market unless there is intensive research not just about the drugs but also about the possibilities of drug recalls and failures and their impacts.