Global Controlled Release Drug Delivery Market Research Report, by Route of administration (Transdermal, Oral), Release Mechanism (Polymer-based, Micro reservoir Partition), Products (Metered Dose Inhalers), End User (Hospital)— Forecast till 2023
The controlled release drug delivery market is growing rapidly over the past few years. Increasing prevalence of chronic diseases and increasing government regulation to prevent overdose effects act as a significant driving force pushing up the market growth. Furthermore, the growing geriatric and pediatric population is creating huge market demand. Moreover, the advantages that these controlled release drug delivery systems offer accelerate the growth of the market.
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According to Market Research Future (MRFR), the global Controlled Release Drug Delivery Market is expected to create a valuation of over USD 70.15 BN by 2023, growing at a double-digit CAGR of 14 % during the review period (2018 – 2023). Technological advancements, improved outcomes & patients’ experience, beneficial reimbursement policies, and increasing awareness towards healthcare are other key factors impacting the market growth, positively.
On the other hand, some limitations associated with the application of these systems, such as the possibility of less accuracy in adjusting the dosage and controlled release drug delivery system is not suitable for all drugs are expected to impede the growth of the market. Also, the higher cost of these systems compared to the conventional drug delivery systems hampers the growth of the market.
Global Controlled Release Drug Delivery Market – Segmentation
The report is segmented into five main dynamics to widen the scope of understanding,
By Route of Administration: Oral, Injectable, Ocular, Nasal, Topical, Implantable, and Transdermal, others.
By Release Mechanism: Micro-Reservoir Partition-controlled Drug Delivery Systems, Polymer-based Drug Delivery Systems, Feedback-Regulated Drug Delivery Systems, Chemically Activated Controlled Drug Delivery Systems, and Activation Modulated Drug Delivery Systems.
By Products: Metered Dose Inhalers, Needle-Free Injectors, Auto-Injectors, Nasal Sprays, Transdermal Patches, Nebulizers, Infusion Pumps, Drug-Eluting Stents, Sustained Release, and Ocular Implants.
By End-user: Hospital & Clinics, Personal Use, Research Centers, and others.
By Regions: Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World
Global Controlled Release Drug Delivery Market – Geographical Analysis
North America is the leading market for controlled release drug delivery. The significant market share of the market attributes to the vast patient pool suffering from various diseases, mainly such as gastrointestinal disorders (Crohn’s disease and ulcerative colitis) and Alzheimer’s, etc. Besides, advanced healthcare infrastructure, growing pharmaceutical industry, and increasing research & development activities foster the regional market growth.
North America is a well-developed region, and its highest GDP helps the region to have the edge over other regions in terms of aspects such as healthcare and technology. Additionally, the presence of the geriatric population and development in medical technology are supporting the growth of the market. Indeed, the high economic growth is a key driving force behind the growth of the regional market, allowing access to the quality of life for the people.
Europe stands second in the global controlled release drug delivery market. The increasing prevalence of respiratory diseases and high blood pressure or hypertension among the population boosts the growth of the regional market. The well-established healthcare sector is a major growth impeding factor for market growth in the region. Moreover, the resurging economy is playing a vital role in market development, allowing the proliferation of the healthcare sector in the region.
Germany contributes to the growth of the regional market, hugely due to its flourishing medical devices markets. Furthermore, the UK and France, with the increasing investments in controlled release drug delivery, drive the regional market at a large scale. The European controlled release drug delivery market is estimated to register a phenomenal CAGR during the review period.
The Asia Pacific controlled release drug delivery market is growing rapidly owing to the huge patient population suffering from chronic diseases and an increase in the geriatric and pediatric population. Also, the increasing demand for controlled doses to reduce the side effects and toxicity level in the patients contribute to the market growth of controlled release drug in Asia Pacific countries.
The rising economy in countries such as China, Japan, South Korea, and India impacts market growth positively. Furthermore, the rising demand for quality devices in healthcare and rapidly developing healthcare technology is expected to foster the APAC controlled release drug delivery market.
Global Controlled Release Drug Delivery Market – Competitive Landscape
The global controlled release drug delivery market appears to be fiercely competitive and fragmented, with many well-established players forming a competitive landscape. Brand reinforcement, mergers & acquisitions, and innovation remain the popular trends for the key players in the market.
Major Players:
Players leading the controlled release drug delivery market include Coating Place, Inc.(US), Depomed, Inc. (US), Corium International Inc.(US), Pfizer Inc.(US), Alza Corporation (Johnson & Johnson)(US), SKY Pharmaceuticals Pvt. Ltd.(China), Biogen (US), AstraZeneca (US), GlaxoSmithKline (UK), Collegium Pharmaceutical (US), Novartis (UK), and Allergan(Ireland), among others.
Industry/ Innovation/ Related News:
December 12, 2019 —- The 3M Company (the US), a multinational conglomerate corporation operating in the fields of industry, worker safety, health care, and consumer goods, announced that it has agreed to sell most of its drug-delivery business to an affiliate of Altaris Capital Partners (the US), an investment firm focused on the healthcare industry. The deal is finalized at approximately USD 650 MN.
3M’s drug delivery business is a leading provider of transdermal and inhalation delivery technologies. This transaction would allow 3M to focus more on its core health care business and retain a share in the drug delivery business as it grows over the coming years.
However, 3M will retain its transdermal drug delivery components business. 3M is also looking for pharmaceutical partners for the development of a smart inhaler, the project it has already undertaken.
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