The global advanced drug delivery market size accounted for USD 58.40 billion in 2022 and is expected to reach around USD 247.8 billion by 2032, expected to grow at a compound annual growth rate (CAGR) of 15.60% during the forecast period 2023 to 2032.
The use of technology in controlling the amount of drug released into the human body is known as the advanced drug delivery system. On the basis of the disease that needs to be treated and the use of the drug for the treatment of that disease besides the type of technology that will be used in gaining desired output. Over a period of time deficiency of advanced drug delivery has proven to be efficient. The increased use of novel drug barriers and different types of advanced formulations or some other reasons are provided efficiency in treating the diseases. That has been an increased research and development in formulating new compounds that have the potential to treat different types of diseases.
Extensive use of the existing compounds in treating the disease is through the use of this technology has also provided good results. This technology also makes use of various diseases that do not enter the market because of various issues related to the solubility or the molecular weight and excretion of these drugs. The advanced drug delivery system market is a technology that is helpful in manufacturing of various drugs in the form of powders, liquid, capsules as well as tablets. These drugs are released into the body in two different ways. It either releases the drug immediately or the drug is released in the body after short intervals for a prolonged depending upon the need of the body. As the drugs that are released in the body have a controlled pace this technology is helpful in providing medicines in a therapeutic manner. It also helps in providing the required medication at the specific location. As there has been a growth in the geriatric population across the globe there has been no growth in the number of chronic diseases.
Increase number of chronic diseases is one of the factors responsible for the growth of the advanced drug delivery market. As chronic diseases require periodic medication as it happens to be here disease of a prolonged nature. Favorable reimbursement policies and increase text editor on health care facilities by the consumers has boosted the market. The existing of stringent government regulations that recall many drugs happens to be one of the major challenges for the growth of the market. In the recent years there has been an increase in the number of failed drugs and it cell hamper the market growth in the coming years.
The adverse drug delivery market had a positive impact during the outbreak of the COVID-19 pandemic. In order to occupy and treat the affected patients across the globe the setup of the hospitals as well as the clinics was reorganized according to the need of that time. But due to restricted movement the transportation and manufacturing of various supplies required for the hospital were affected to a great extent. Continuous research for coming up with the treatment and vaccines for combating the pandemic created a great demand for the advanced drug delivery market.
The advanced drug delivery market is expected to grow well during the forecast period. The growth of the market can be attributed to an increase in the count of the chronic diseases in the geriatric population of the developing as well as the developed nations. As there has been a growing demand for releasing medicines into the body for a specific site and this technology provides target specific medication the market is expected to grow well during the forecast period. The market will grow rapidly as far as being an increase in the amount of money spent on health care related activities. Increased purchasing power and higher amount of disposable income has led to a great expenditure on wellbeing.
Increased number of chronic diseases is due to the geriatric population which is growing across the globe. As there has been an increase in the awareness regarding the availability of the advanced drug delivery which have turned out to be extremely efficient in the recent years will drive the market growth during the forecast period. There has been a growth in the initiatives taken by the government that support the growth of this market. Increased investment in the advanced drug delivery market by major manufacturing companies has led to growth to the market. The availability of advanced infrastructure for the activities of research and development for providing novel drugs who will drive the market growth. Constant research is also focusing on providing various routes for drug delivery that would be helpful in increasing the efficiency of the drugs. Constant research for deriving new compounds that would combat the toxicity of the drug will also drive the market in the coming years.
Report Scope of the Advanced Drug Delivery Market
|Market Size in 2023||USD 67.22 Billion
|Market Size by 2032||
USD 247.8 Billion
|Growth Rate from 2023 to 2032||CAGR of 15.60%|
|North America Market Share in 2022||40%|
|Forecast Period||2023 to 2032|
|Segments Covered||Type, Product Type, End User, Geography|
Baxter, Boston Scientific Corporation, AbbVie Inc., Becton, Dickinson and Company, Kindeva Drug Delivery L.P, Bausch Health Companies Inc., Novo Nordisk A/S, Ocular Therapeutix, Inc., 3M, Raphas Co., Ltd., GALDERMA, NanoPass, Altaris, Micropoint Technologies, Takeda Pharmaceutical Company Limited
On the basis of the type, the oral drug delivery system market is expected to have the largest market share during the forecast period. The oral drug delivery segment is expected to dominate the market in the coming years due to an increase in the popularity of this delivery system. In the recent years there has been an increase in the popularity of this method artist preferred by the patients as well as the physicians. Or the most important reason which is driving the growth the market through this segment is due to the reduced side effects of the drug and the Lowered chances of the drug toxicity.
Administering the drug through the oral route happens to be the most convenient way of taking medicines. There has been an increase in the amount of research and development activities conducted for this specific segment. There has been an increased focus on coming up with modified versions of the already existing oral drug delivery system. As there are many complications related to the patenting as well as the marketing of any drug in the market the manufacturers are focusing on developing oral drug delivery systems that adhere to the standards, the oral drug delivery system is expected to provide great opportunities for the growth of deer market. As this mode of delivering drugs provides controlled and therapeutic release of medicines, they are largely used in treating various cardiovascular diseases and diseases related to the central nervous system. The oral drug delivery mode is preferred in the diseases of the respiratory tract and also the diseases related to the metabolism.
The introduction of delivery drugs in the form of thin film is also expected to grow as this drug has provided efficiency and it has been extremely efficient in treating various diseases. At times the application of the oral drug delivery is limited Due to the issues related to the stability of the proteins as well as the peptides present in the human gastrointestinal tract. This market is expected to grow due to the flexibility of the oral drug delivery system. The frequency of the intake of a drug is also reduced due to the use of this mode which is expected to drive the market growth during the forecast.
End User Insights
On the basis of the end user, the hospital segment will dominate the market during the forecast period. In the past the specialized clinics had the largest market share. The hospital segment is expected to grow at a compound annual growth rate of 16.9% during the forecast period. As it has been an increase in the use of advanced drug delivery for treating different orthopedic conditions, oncology and neurology the market is expected to grow. The availability of advanced infrastructure add professionals with great expertise in this field will drive the market during the forecast period. The increased number of chronic diseases in the geriatric population is expected to grow in the coming years and it shall drive the market growth.
Product Type Insights
On the basis of the product type, the nanocarrier segment is expected to grow well during the forecast. As this type of drug can be administered in the oral way or it can also be used for inhalation as well as application. It is extremely useful for the targeted delivery of the drugs. The use of a nanocarrier helps in improving the efficiency of the intake of a drug as it is able to target the site of the affected area in a more efficient way. It also helps Cindy absorption of the drugs in a desirable way especially for the drugs that are poorly soluble.
In the recent years constant research on developing nanocarriers has increased the number of the nano carriers. It is widely used for the patients suffering with cancer. The use of nanocarrier for the drug delivery in the patients suffering with cancer has proven to be extremely efficient in delivering the drugs to the specified site. It provides better therapeutic outputs. In order to treat different types of tumors a large number of nanocarrier products have been approved by the regulatory bodies.
On the basis of geography, the North American region is expected to dominate the market during the forecast period. The availability of advanced health care facilities and an increasing popularity of the advanced drug delivery in the North American region will drive the market growth during the forecast period. This region has dominated the market in the past due to the availability of various solutions. As there has been a great demand for treating various chronic diseases through the use of the drugs in the self-administered form the market is expected to grow. The use of injectables is expected to grow during the forecast period.
An increase in the number of chronic diseases due to the growth of the geriatric population in the North American region the advanced drug delivery market will grow. There's been an increase in the number of deaths due to various cardiovascular diseases. It happens to be a major cause for death in the North American region. Apart from the cardiovascular diseases there has also been an increase in the number of cancer patients in the recent years. A large number of deaths predicted due to cancer In the North American region especially in the United States. The cases of diabetes are also expected to grow. All of these factors are expected to drive the market growth during the forecast period.
Key market developments
Becton, Dickinson and company, will set up a manufacturing unit for the drug delivery devices in Spain. This company shall invest an amount of U.S. dollars 200 million for developing the facility.
Key market players
Segments Covered in the report
By Product Type
By End User
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