Personalized medicine will become more prevalent as drug delivery systems are used to tailor treatments to individual patients.
Wilmington, Delaware, United States, Feb. 07, 2024 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – Drug delivery systems were valued at US$ 40.1 billion in 2022. A CAGR of 6.8% is expected between 2023 and 2031, reaching US$ 71.6 billion by 2031. As drug delivery evolves, nanotechnology will play a pivotal role. In addition to improving drug bioavailability and reducing systemic side effects, nanoparticles and nanocarriers can provide controlled and targeted drug releases. Advancements in nanomaterials and their applications could make drug delivery systems more efficient.
A drug delivery system developed by Oregon State University College of Pharmacy researchers could significantly increase the effectiveness of a medicine that’s given to women suffering from ectopic pregnancy, a life-threatening condition in which a fertilized egg implants outside of the uterine lining. Fibrous materials are becoming increasingly important in various applications, including textiles, nonwovens, composites, and others. Molecular alignment, high specific surface area, pronounced porosity, and nanoscale effects of polymeric nanofibers make them an exciting new material category.
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Favorable healthcare policy and regulatory backing largely drive drug delivery systems sales. Governments and regulatory agencies worldwide are becoming aware of the potential benefits of cutting-edge medication delivery technology in improving patient outcomes and reducing healthcare costs. Innovative drug delivery methods are being developed by pharmaceutical corporations and researchers with the encouragement of incentives, expedited approval processes, and supporting legislation.
Key Findings of the Market Report
- Based on the type of delivery system, targeted drug delivery is expected to drive market demand.
- In terms of application, infectious diseases will drive demand in the near future.
- The oral route of administration is predicted to create a market for drug delivery systems.
- North America dominated the global drug delivery systems market in 2022.
- Since asthma and diabetes are on the rise in Latin America and the Middle East & Africa, these regions are likely to account for a significant market share during the forecast period.
Global Drug Delivery Systems Market: Growth Drivers
- Research and development advances in pharmaceuticals are among the primary factors driving drug delivery systems in the market. Researchers are exploring novel drug delivery mechanisms in response to the growing demand for personalized and targeted therapies.
- With new technologies like nanotechnology and microparticles, drug delivery can be more precise, and treatment outcomes can be enhanced. Molecular understanding of disease is becoming increasingly important, resulting in improved drug delivery systems that increase bioavailability, reduce side effects, and improve patient compliance.
- The need for efficient and practical drug delivery methods is growing as the prevalence of chronic illnesses, including diabetes, heart disease, and cancer, keeps rising.
- Controlled or sustained drug delivery systems are highly desirable for treating chronic diseases since they provide a consistent therapeutic impact over time. Healthcare systems around the globe are searching for effective and patient-friendly treatment options, so the market is expected to grow.
- With 3D printing, custom dosage forms can be created with specific release profiles, revolutionizing drug delivery. It could lead to better compliance and therapeutic outcomes for patients using individualized drug formulations.
Global Drug Delivery Systems Market: Regional Landscape
- North America is expected to advance in drug delivery systems in the market. Several drug delivery systems have been invented in the region, making the region a hub for pharmaceutical research and development.
- Advances in nanotechnology, biotechnology, and materials science are leading to the development of several new drug-delivery platforms. By enhancing drug efficacy, improving patient compliance, and minimizing side effects, these innovations aim to improve health. Drug delivery technologies continuously evolve due to several biotechnology and pharmaceutical companies.
- Diabetes, cardiovascular disorders, and cancer represent major chronic diseases in North America. These conditions have increased in incidence, requiring more effective treatment delivery systems that allow for controlled and targeted drug delivery.
- As chronic diseases become more prevalent in the region, personalized medicine, sustained-release technologies, and site-specific targeting have become increasingly important.
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Global Drug Delivery Systems Market: Key Players
New product launches and expanded manufacturing capacity are the key to increasing market share for companies in the drug delivery systems industry. Transparency Market Research has included the following players in its analytical report:
- Novartis AG
- Amgen Inc.
- F. Hoffmann-La Roche Ltd.
- Pfizer Inc.
- Johnson & Johnson Services, Ltd.
- Becton, Dickinson and Company
- AstraZeneca plc
- Baxter International, Inc.
- Bayer AG
- Boston Scientific Corporation
- In May 2023, Sernova and AstraZeneca will collaborate on preclinical drug delivery research. Using Sernova’s Cell Pouch System and AstraZeneca’s new therapeutic cells, they are evaluating Sernova’s technology.
- In November 2023, Pfizer entered into a licensing deal with Serina Therapeutics to use its drug delivery technology. A Serina platform with lipid nanoparticles for RNA-based therapeutic delivery has now been made available to Pfizer. The deal involved Serina licensing Pfizer’s POZ platform technology non-exclusively.
Global Drug Delivery Systems Market: Segmentation
By Type of Delivery System
- Intrauterine Implants
- Prodrug Implants
- Polymeric Drug Delivery
- Targeted Drug Delivery
- Infectious Diseases
By Route of Administration
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Go through further research published by Transparency Market Research:
Collagen Market – A study by Transparency Market Research (TMR) finds that the global collagen market is prognosticated to reach a value of US$ 7.1 Bn by the end of 2028. Besides, the TMR assessment notes that the market is expected to grow at a CAGR of 5.5% during the forecast period, between 2021 and 2028.
Nanotechnology Drug Delivery Market – Growing number of clinical trials in different phases, especially in oncology, have reinforced growth of the nanotechnology drug delivery market. Advancing techniques of nanoscience in medical biology has enriched the value chain of the nanotechnology drug delivery market. The analysts at TMR project the global market valuation to reach US$ 142.8 Bn by the end of forecast period 2021–2028.
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