PUBLISHER: The Business Research Company | PRODUCT CODE: 1409326
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409326
“Controlled Release Drug Delivery 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 controlled release drug delivery 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 controlled release drug delivery? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The controlled release drug delivery 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.
Controlled release drug delivery involves a dosage form designed to administer a medicine or medication in a specific manner, providing continuous and predictable kinetics for a predetermined duration.
The primary types of technology employed in controlled release drug delivery include the wurster technique, coacervation, microencapsulation, implants, transdermal delivery, targeted delivery, and others. The wurster technique, also known as fluid bed microencapsulation, encapsulates discrete particles in a fluidized bed using differential air flow to create cyclic movement of material. It encompasses various release mechanisms such as polymer-based systems, micro-reservoir partition-controlled drug delivery systems, feedback-regulated drug delivery systems, activation-modulated drug delivery systems, and chemically activated methods. These technologies find applications in metered dose inhalers, injectables, transdermal and ocular patches, among others. Major end-users include hospitals, clinics, individuals, research institutions, and others.
The controlled release drug delivery market research report is one of a series of new reports from The Business Research Company that provides controlled release drug delivery market statistics, including controlled release drug delivery industry global market size, regional shares, competitors with a controlled release drug delivery market share, detailed controlled release drug delivery market segments, market trends and opportunities, and any further data you may need to thrive in the controlled release drug delivery industry. This controlled release drug delivery 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 controlled release drug delivery market size has grown rapidly in recent years. It will grow from $59.2 billion in 2023 to $66.18 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The expansion observed during the historic period can be attributed to several factors, including the introduction of pioneering drug delivery systems, the development of early polymer-based formulations, the advent of microencapsulation techniques, the emergence of transdermal delivery methods, and advancements in regulatory approvals and standardization processes. These elements collectively contributed to the growth and evolution of controlled release drug delivery systems during that timeframe.
The controlled release drug delivery market size is expected to see rapid growth in the next few years. It will grow to $105.06 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The anticipated growth in the forecast period can be attributed to a shift towards personalized medicine, the integration of technology for enhanced patient convenience, the expanding market for biologics and biosimilars, increased market presence in developing regions, and advancements in polymer science. Major trends expected during this period encompass the use of biodegradable and biocompatible materials, advancements in nanotechnology, the emphasis on personalized medicine and targeted therapies, developments in implantable devices, and innovative encapsulation techniques. These factors are poised to shape and influence the trajectory of controlled release drug delivery systems in the upcoming forecast period.
The increasing prevalence of chronic diseases, also termed noncommunicable diseases (NCDs), is projected to act as a significant driver for the expansion of the controlled release drug delivery market. Chronic diseases, which encompass ailments such as heart disease, cancer, and diabetes, persist over extended periods, necessitating ongoing medical attention and often restricting daily activities. Controlled-release drug delivery plays a pivotal role in treating such chronic conditions. Particularly for patients requiring prolonged treatment or residing in areas with limited healthcare access, drug delivery formulations facilitating extended medication release are paramount. For instance, a September 2022 report shared by the World Health Organization (WHO) highlighted that annually, 41 million people succumb to chronic diseases, accounting for 74 percent of global fatalities. Approximately 17 million individuals lose their lives to chronic ailments before reaching the age of 70. Moreover, 77 percent of deaths attributed to chronic diseases occur in low- and middle-income countries, with anticipated future increases. Thus, the escalating prevalence of chronic diseases fuels the growth of the controlled release drug delivery market.
The upward trajectory in healthcare expenditure is anticipated to drive the expansion of the controlled release drug delivery market in the forthcoming years. Healthcare expenditure encompasses the aggregate financial resources, both public and private, allocated to the healthcare sector within a specified geographic region, country, or economy over a designated timeframe. Within healthcare spending, investments in controlled release drug delivery constitute a multidimensional outlay covering a medicinal product's entire lifecycle, from initial research to post-market surveillance, aiming to enhance treatment outcomes, patient adherence, and overall healthcare efficacy. For instance, as of September 2022, data from the Centers for Medicare & Medicaid Services revealed a 2.7 percent increase in national health spending, amounting to $4.3 trillion in 2021, equating to $12,914 per person and accounting for 18.3% of the GDP. This escalating healthcare spending significantly contributes to the growth of the controlled release drug delivery market.
Technological progression stands out as a pivotal trend gaining traction within the controlled-release drug delivery market. Major enterprises operating in this sector are embracing novel technologies to fortify their market positions. For example, in March 2022, Evonik Industries AG, a Germany-based pharmaceutical company, introduced UDRATEC SoluFlow. This innovative microparticle technology is engineered to enhance the solubility of active medicinal constituents in oral medication formulations. Utilizing an emulsion-based processing technique, UDRATEC SoluFlow overcomes solubility barriers unattainable through traditional production methods. This addition to Evonik Health Care's suite of oral drug delivery system solutions complements existing offerings such as oral excipients such as EUDRAGIT functional polymers, ready-to-fill functional capsules such as EUDRACAPTM, and various technologies and services aimed at optimizing medication performance.
Leading entities within the chocolate syrup market are strategically engaging in partnership initiatives, with a focus on broadening applications in the ophthalmic field. Strategic partnerships denote a collaborative process wherein companies leverage each other's strengths and resources to achieve mutual benefits and foster success. For instance, in March 2023, Hovione, a Portugal-based contract drug manufacturing company, unveiled a collaboration with Ripple Therapeutics Inc. to expand the utilization of Ripple's Epidel technology beyond its current ophthalmic applications. This partnership marks a pivotal step in extending the Epidel platform's reach beyond ophthalmology, combining technical synergy, innovative vision, and a harmonious cultural alignment. Hovione's proficiency in regulated, sustained drug administration, coupled with their expertise in chemical synthesis and pharmaceutical manufacturing, forms a robust foundation for this collaboration. Ripple Therapeutics Inc. operates as a Canada-based pharmaceutical firm.
In November 2022, Alcon, a Switzerland-based pharmaceuticals and medical devices company, completed the acquisition of Aerie Pharmaceuticals, Inc. for an undisclosed sum. This strategic acquisition signifies an expansion of Alcon's diverse range of commercial products and development pipeline within the realm of ophthalmic pharmaceuticals. Aerie Pharmaceuticals, Inc., an esteemed US-based company specializing in the manufacture of ophthalmic solutions, further bolsters Alcon's portfolio and advancements in the ophthalmic pharmaceutical sector through this acquisition.
Major companies operating in the controlled release drug delivery market report are Johnson & Johnson Services Inc., Merck & Co. Inc., Alkermes plc, Coating Place Inc., Corium International Inc., Depomed Inc., Pfizer Inc., Aradigm Corporation, Capsugel LLC, GlaxoSmithKline plc, Bayer Healthcare LLC, Collegium Pharmaceuticals Inc., GE HealthCare Technologies Inc., Adare Pharmaceuticals Inc., Allergan plc, Novartis AG, Lonza Group AG, Colorcon Inc., SKY Pharmaceuticals Pvt. Ltd., AstraZeneca plc, Biogen Inc., Orbis Biosciences Inc., Alza Corporation, MicroCHIPS Inc., Endo International plc, Heron Therapeutics Inc., Intellipharmaceutics International Inc., Ipsen Biopharmaceuticals Inc., Luye Pharma Group Ltd., Medtronic plc, Nektar Therapeutics, Novo Nordisk A/S, Ocular Therapeutix Inc., Pacira BioSciences Inc., Progenity Inc., Sanofi S.A., Teva Pharmaceutical Industries Ltd., Titan Pharmaceuticals Inc., Vectura Group plc, West Pharmaceutical Services Inc., Zosano Pharma Corporation, Zynerba Pharmaceuticals Inc. .
North America was the largest region in the controlled release drug delivery market in 2023. The regions covered in the controlled release drug delivery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the controlled release drug delivery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The controlled release drug delivery market consists of revenues earned by entities by providing services such as mucoadhesive drug delivery, implantable drug delivery, and gastro-retentive drug delivery. The market value includes the value of related goods sold by the service provider or included within the service offering. The controlled release drug delivery market also includes sales of nebulizers, infusion pumps, and other systems used to provide controlled release drug delivery. 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.