New Research report announced by MRFR named as ” Controlled Release Drug Delivery Market Research Report- Global Forecast till 2023″. The report correspondingly contains a comprehensive market and vendor landscape beside from a SWOT analysis of the leading players. Thus, the data provided is consistent, comprehensive, and the outcome of extensive research.
The Controlled Release Drug Delivery Market was estimated USD 31.96 billion in 2017 and expected to reach USD 70.15 billion by 2023 at a CAGR of 14.0% during the forecast period. However, factors such as less awareness and higher cost per dosage may hinder the market growth during the forecast period.
Controlled release drug delivery involves releasing drug through drug-encapsulating devices at controlled rates for long periods to facilitate optimal use of drugs and tailoring of drug release rates. Controlled release drug delivery aids in achieving more efficacy in therapies while alleviating the potential for both overdosing and underdosing.
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Enticed by the efficacy and safety achieved by controlled release drug delivery systems, remarkable interest has been witnessed in recent years towards the drug delivery system. Controlled release drug delivery is associated with the benefit of safer and more effective dosage of medicines to fight a variety of diseases, including cancer.
The duration of drug action is dictated by the design property of drug molecules which is a desirable characteristic is progressively used in cancer management. Controlled release drug delivery has the potential to enhance chemotherapy delivery and improve outcomes in cancer patients. The growing use of controlled release drug delivery in cancer management is a vital growth driver. Diseases such as cancer, diabetes, respiratory and other disorders are on the rise which has augmented the demand for controlled release drug delivery systems. Additionally, an increase in the geriatric population who are more susceptible to age-related disorders induce demand within the market.
In January 2019, ProMed Pharma, a contract manufacturer of polymer-based drugs, and DSM Biomedical, leading medical device materials development and manufacturing partner, announced partnership for technical and business development. The partnership focuses on using the capabilities of both the companies to develop novel sustained release drug implants and combination devices.
Market Research Future (MRFR) recognizes the following companies as the key players in Controlled Release Drug Delivery Market: There are plenty of large and small market players which operate in this market all over the globe.
- Depomed, Inc. (US),
- Coating Place, Inc.(US),
- Corium International Inc.(US),
- Alza Corporation (Johnson & Johnson)(US),
- Pfizer Inc.(US),
- SKY Pharmaceuticals Pvt. Ltd.(China),
- AstraZeneca (US),
- Biogen (US),
- GlaxoSmithKline (UK),
- Novartis (UK),
- Allergan (Ireland),
- Collegium Pharmaceutical(US), and others.
The Global Controlled Release Drug Delivery Market has been segmented based on route of administration, release mechanism, product, and end user.
By route of administration, the global controlled release drug delivery market has been segmented into oral, injectable, ocular, nasal, topical and implantable. The injectable segment has been further segmented into targeted delivery, transmucosal, and transdermal.
By release mechanism, the global controlled release drug delivery market has been segmented into chemically activated controlled drug delivery systems, polymer-based drug delivery systems,
feedback-regulated drug delivery systems, activation modulated drug delivery systems, and micro-reservoir partition-controlled drug delivery systems. The activation modulated drug delivery system segment has been further segmented into magnetically activated drug, mechanically activated drug, hydrodynamic pressure activated drug delivery, osmotic pressure activated drug delivery, and vapor pressure activated drug delivery. The chemically activated controlled drug delivery systems segment has been further segmented into hydrolysis activated drug delivery, enzyme activated drug delivery , pH-activated drug delivery.
By product, the global controlled release drug delivery market has been segmented into sustained release, ocular implants, drug-eluting stents, auto-injectors, nasal sprays, needle-free injectors, metered dose inhalers, transdermal patches, infusion pumps, and nebulizers.
By end user, the global controlled release drug delivery market has been segmented into hospital and clinics, personal use, research centers, and others.
By region, the global controlled release drug delivery market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The Americas account for the maximum share of the global controlled release drug delivery market. High investment in research & development activities and high government support for the same can be credited to the growth of the market. Additionally, diseases such as cancer, diabetes, and respiratory disorders are spreading at a torrid pace which induces high demand within the controlled release drug delivery market. The surging prevalence of cancer, in particular, is a prime reason for the growth of the market.
Europe is the second largest market for controlled release drug delivery spurred by the rise in the number of New Drug Application (NDA) and Abbreviated new drug application (ANDA) applications and rises in geriatric population in the region.
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APAC is an emerging market for controlled release drug delivery and is expected to exhibit the highest growth rate over the forecast period. Increasing government support in the form of funding, initiatives by private agencies, and expansion of the pharmaceutical industry in the region bode well for the growth of the market. China, India, and Japan are the key contributors to the APAC market.
The Middle East & Africa market accounts for the smallest share of the global market owing to limited healthcare facilities, low economic development and sluggish growth of the pharmaceutical industry in the region. However, various programs targeted towards raising the awareness level in the Middle East is likely to boost the growth of the market.
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