Controlled Release Drug Delivery Market to Hit Around USD 127.77 Billion By 2033
The global controlled release drug delivery market size was exhibited at USD 52.22 billion in 2023 and is projected to hit around USD 127.77 billion by 2033, growing at a CAGR of 9.36% during the forecast period 2024 to 2033.
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Controlled Release Drug Delivery Market Overview
Throughout the projection period, predictably, changing prescription patterns would result from doctors choosing controlled-release medication delivery over conventional systems due to advantages such as better patient compliance, greater therapeutic efficacy, and lower treatment costs. Additionally, due to their aggressive response to the shifting market demands and ongoing investments in developing controlled-release drug delivery systems, pharmaceutical companies, who operate in a fiercely competitive and fragmented industry, have significantly increased demand.
For the forecast period, pharmaceutical development businesses' consistently expanding R&D spending, which aims at creating effective treatments for chronic and non-communicable problems like cancer, diabetes, and hypertension, is anticipated to drive market expansion. For instance, the pipeline medicine TAR-200 (Gemcitabine) from Taris, a biomedical business focused on research and development, has a controlled-release drug delivery system and is recommended for the treatment of bladder cancer. Johnson & Johnson also finalized the acquisition of Taris Biomedical in 2019. One of the primary drivers behind the purchase is reportedly its lead experimental product, TAR-200.
One of the main drivers of market expansion is the growing worldwide elderly and pediatric population, partly attributable to the high rate of non-adherence to prescription regimens in these age groups. The impaired mental, physical, and biological processes that plague geriatric populations impact how they take their medications. Additionally, their bodies cannot handle excessive dosages and adverse side effects. Consequently, as the patient population rapidly increases, demand for controlled-release drug delivery devices will increase.
Controlled-release drug administration enables a significant decrease in dose and dosing frequency, minimizes aberrant variations in plasma drug levels, increases efficacy, boosts patient compliance, and provides uniform medication effects. Drugs are delivered at the target site at predetermined times with predictable drug release kinetics using control releases drug delivery systems, which, in contrast to conventional administration methods, offer a prolonged therapeutic impact. As a result of the controlled release delivery system's additional advantages, their use will likely grow significantly during the forecast period.
Covid-19 Impact:
The COVID-19 outbreak boosted market expansion due to the rising need for solutions that deliver controlled-release drugs. For instance, the September 2021 publication of an article with the heading "Role of Novel Drug Delivery Systems in Coronavirus Disease-2019 (COVID-19): Time to Act Now" demonstrates the impending increase in the use and demand for novel drug delivery systems and technologies.?
Likely, several newly introduced cutting-edge drug delivery methods and devices could help repurpose currently available medications to treat various viral infections. The ongoing research on using COVID-19 drug delivery systems is growing, and the COVID-19 pandemic will favour market expansion.
Key Takeaways:
Controlled Release Drug Delivery Market Companies
Different businesses employ a wide variety of methods to ensure controlled discharge. Major pharmaceutical corporations also use controlled release techniques to broaden their customer base and deepen the penetration of their products. As a result, there is fierce competition between the market's numerous players and newcomers.?
Moreover, mergers and acquisitions by prominent players broaden their current product offerings. For instance, Capsugel announced the completion of the purchase of Xcelience and Powdersize in January 2016, which helped the business segment focus on the dosage form solutions of the company to extend its existing reso
As numerous developers work to create medications that address particular patient needs, the market is tremendously fragmented. Major players are also working on cutting-edge controlled-release medication delivery systems. For instance, Capsugel announced the introduction of enTRinsic drug delivery technology in October 2015, which offers various compounds complete enteric protection and targeted delivery into the upper gastrointestinal tract. Leading companies in the global market for controlled-release medication delivery include:
Some of the prominent players in the controlled-release drug delivery market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global controlled release drug delivery market.
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By Technology
By Release Mechanism
By Application
By Region
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