Advanced Drug Delivery Systems Market
Overview:
Growing development of novel drugs as well as biologics, along with growing knowledge regarding human diseases and biology, and R&D activities are the factors that are driving growth of the global advanced drug delivery systems market. However, the market is facing challenges due to product recalls in nanomedicine-based drug delivery products, which is expected to obstruct the market growth in the future.
Market Drivers:
Growing number of chronic disease cases such as diabetes, asthma, and cardiovascular diseases around the world is expected to augment growth of the global advanced drug delivery system market during the forecast period. For instance, patients are benefited with advanced drug delivery systems as short time of administration, easy administration of drug, enhanced patient adherence and dose accuracy. As per the estimates of the WHO (World Health Organization), diabetes affect nearly 422 million individuals across the globe and the prevalence of the disease is increasing in emerging countries.
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Moreover, growing development of novel drugs as well as biologics is also anticipated to propel growth of the global advanced drug delivery system market over the forecast period. For instance, in June 2022, Gufic Biosciences Ltd. introduced a novel drug delivery system, dual-chamber bags in India. These are IV bags with two chambers and are created from polypropylene with an aluminum foil, which allows storing of unstable drugs requiring reconstruction.
Market Restraints:
Factors such as product recalls and challenges in delivery of nanomedicine-based drugs are likely to impede growth of the global advanced drug delivery system market during the forecast period. For instance, in January 2020, the AXIA Pharmaceutical and the FUSION IV Pharmaceuticals, Inc., announced the voluntary recall of unused sterile drug products, owing to inconsistency of products with federal standards. Furthermore, nanoparticles used in nanomedicine-based drugs can be toxic to the brain, which makes it a complicated process. Thus, these factors are hampering the market growth.
Opportunities:
Growing R&D activities in drug delivery systems are anticipated to offer various growth opportunities in the global advanced drug delivery system market over the forecast period. For instance, in January 2020, Bigfoot Biomedical announced that it has received US$ 45 million for the late-stage clinical trial of its insulin management product.
Furthermore, growing demand and adoption of advanced drug delivery systems is also likely to present market players with growth opportunities in the market. For instance, in October 2020, Evonik announced the launch of an oral drug delivery system. This system can provide enteric protection with homogeneous and rapid release to target the upper small intestine.
Market Trends:
Growing technological developing is an emerging trend in the global advanced drug delivery system market driving the market growth. For instance, in September 2022, Novo Nordisk entered into collaboration with Microsoft for accelerating drug discovery as well as development with the use of artificial intelligence and big data.
Moreover, increasing product approval and launch by market players is another growing trend in the market. For instance, in March 2022, the U.S. Food and Drug Administration granted approval to Corium, Inc, for its ADLARITY, for treating patients suffering from severe, moderate or mild dementia.
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Regional Analysis:
North America is anticipated to witness substantial growth in the global advanced drug delivery system market over the forecast period. This is due to rise in number of chronic disease cases and growing adoption of enhanced solutions of drug delivery across the region. For instance, as per the Centers for Disease Control and Prevention, heart disease affect one individual in every 34 seconds in the U.S. and in 2020, heart disease caused over 697,000 deaths in the country.
Furthermore, Asia Pacific is projected to witness strong growth in the global advanced drug delivery system market during the forecast period. This growth is owing to rise in shift towards self-administration of drugs and increasing prevalence of diseases in the region. For instance, as per the Union Mistry of Family and Health Welfare released study, called Longitudinal Ageing Study in India, released in January 2020, one in every 5 individuals in the country aged under 45 suffer from one morbid condition.
Key Players:
Major players functioning in the global advanced drug delivery system market are Abbott Laboratories, Glaxosmithkline, Bayer Healthcare, Amgen Inc., Astellas Pharma, Boston Scientific, 3M Company, Celgene Corporation, Astrazeneca, and Baxter International, among others.
Key Developments:
In February 2020, Nemera received the best innovation award for its electronic nasal spray device called Safe’n’Spray, at Pharmapack. This device comes offers prevention overdosing of drugs, and fingerprint identification.
In February 2019, the U.S. Food and Drug Administration (FDA) approved the t: slim X2 insulin pump of Tandem Diabetes Care for management of diabetes among children as well as adults.
June 2018: Insulet Corporation announced that the company has received approval from the U.S. FDA for its Ombipod DASH Insulin Management System developed for management of diabetes.
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Table of Contents:
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By Technology
- Market Snippet, By Geography
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Increasing prevalence of chronic diseases worldwide
- Increase in demand for advanced drug delivery systems
- Product recalls of advanced drug delivery products
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- Market Dynamics
- Global Advanced Drug Delivery Systems Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Global Advanced Drug Delivery Systems Market, By Type, 2022-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Oral Drug Delivery System
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Injection-Based Drug Delivery System
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Inhalation/Pulmonary Drug Delivery System
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Transdermal Drug Delivery System
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Transmucosal Drug Delivery System
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Carrier Based Drug Delivery System
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Global Advanced Drug Delivery Systems Market, By Application, 2022-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Cardiovascular Diseases
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Oncology
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Urology
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Diabetes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- CNS
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Ophthalmology
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Inflammatory Diseases
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Infections
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Global Advanced Drug Delivery Systems Market, By Technology, 2022-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Prodrug
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Implants and Intrauterine Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Targeted Drug Delivery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Polymeric Drug Delivery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
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