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$44+ Billion Advanced Drug Delivery Market by Product Type, End User and Region – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Advanced Drug Delivery Market by Product Type and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to ResearchAndMarkets.com’s offering.

The global advanced drug delivery market was valued at $44,029.59 million in 2020, and is estimated to reach $195,132.45 million by 2030, growing at a CAGR of 16.0% from 2021 to 2030.

The advanced drug delivery system comprises oral, parenteral, pulmonary, transmucosal, transdermal, carrier based systems like nanoparticles, nanospheres, nanocapsules, nanoemulsions, and nano-sized vesicular carriers, such as liposomes, niosomes, dendrimers, and polymeric or lipid-based carriers and other drug delivery systems. These advanced drug delivery technologies have the potential to overcome the limitations of the already existing drugs. Various factors, such as pharmacodynamics, drug toxicity, immunogenicity, bio compatibility, pharmacokinetics, and drug efficacy, are considered while developing advanced drug delivery systems.

The primary goal of adopting advanced drug delivery (ADD) is not only to deliver a biologically active molecule in a regulated way (time, period and releasing rate), but also to keep drug levels in the body within the therapeutic window. Furthermore, the drug can be directed toward a specific organ or tissue (targeted drug delivery).

They assist in the delivery of medication levels in the body by minimizing toxicity and effectively delivering the drug at the intended location of action. The key benefit of ADD is its flexibility and potential to increase drug bioavailability. Drug therapeutic efficacy and safety profiles can be enhanced by more accurate spatial and temporal placement in the body, resulting in lower dosage frequency. These techniques are being developed to improve the efficacy ratio of currently available medications. The development of advanced drug delivery systems is based on the delivery of drugs at a controlled pace, as well as slow and targeted distribution for onsite drug release and absorption.

The growth of the advanced drug delivery market is majorly driven by rise in prevalence of chronic diseases. Chronic diseases are described generally as problems that persist a year or longer and need continuous medical treatment, that limit everyday activities, or both.

According to the Center of Disease Control and Prevention (CDC) in 2020, every year, more than 868,000 Americans succumb to heart disease, stroke, or other cardiovascular disorders, accounting for one-third of all deaths in the U.S. 6 out of 10 Americans have at least one chronic condition, and 4 out of 10 have two or more heart, stroke, cancer, or diabetes. These and other chronic diseases are the leading causes of death and disability in the U.S. and they are also a leading driver of healthcare costs. These diseases also take an economic toll, costing $214 billion a year to the health care system and causing $138 billion in lost productivity from premature death alone. They are also major contributors to the country’s $3.8 trillion in yearly health-care expenses. Thus, rise in chronic diseases leads to the surge in demand of advanced drug delivery for safe and effective therapy.

In addition, the market is driven by advancements as well as R&D activities in understanding human biology and diseases leading to the development of new drugs and biologics. For instance, in December 2019, researchers at the Massachusetts Institute of Technology (MIT) have developed a microneedle platform that uses quantum dots (QD), which are fluorescent microparticles that can deliver vaccines while also invisibly encoding vaccination history in the skin. The quantum dots are made up of nanocrystals that emit near-infrared light that may be detected by a smartphone with a specific sensor. Thus, such developments significantly boost the advanced drug delivery market.

However, with rise in the number of drug recalls and drug failures of advanced drug delivery, challenges in nanomedicine based drug delivery are expected to hamper the market growth. For instance, according to the USFDA’s Center for Drug Evaluation and Research (CDER) in 2020 about 53 new molecular entities (NMEs) were approved. Thus, rise in such drug approvals and innovations further drives the market for designing various advanced drug delivery systems. Furthermore, increase in R&D spending and surge in healthcare expenditure worldwide, specifically in the developing economies leads to an increased demand for advanced drug delivery products for better efficacy and thus, is a great opportunity for the key players of the market for investment.

The global advanced drug delivery market is segmented on the basis of product type, end user, and region. On the basis of product type, the market is segregated into drug eluting lens, microneedle patch, hydrogel drug delivery and nano carrier. By end user, it is fragmented into hospitals, specialized clinics and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.

KEY MARKET SEGMENTS

By Product Type

By End User

By Region

KEY MARKET PLAYERS

Market dynamics

Drivers

Restraint

Opportunity

For more information about this report visit https://www.researchandmarkets.com/r/5ar3ki

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