DUBLIN–(BUSINESS WIRE)–The “Drug Delivery Polymer Market – Forecasts from 2023 to 2028” report has been added to ResearchAndMarkets.com’s offering.
The drug delivery polymer market is predicted to grow at a CAGR of 7.55% from US$18.290 billion in 2021 to US$30.444 billion by 2028.
Polymers have played an important part in improving drug delivery methods by allowing for the controlled release of medications in regular doses over lengthy periods. Due to their biodegradability and biocompatibility, these have been increasingly used in biomedical applications in recent years.
However, using polymers as carriers of drugs has significant difficulties, such as complex manufacturing and characterization processes. An important aspect of the biopharmaceutical sector is polymer-based drug delivery, in which a drug, protein, or antibody is covalently bonded to a linear or branched-chain polymer.
Further, the market for drug delivery polymer is anticipated to experience growth throughout the forecast period due to rising research and development activities in the field of nanotechnology to create novel nano-medicines, an expanding product pipeline, a favorable research environment, and an increase in the prevalence of chronic diseases like cancer and diabetes mellitus.
However, the market is projected to face challenges throughout the forecast period due to high pharmaceutical research costs and strict regulatory environments.
The drug delivery polymer market is driven by the rising prevalence of chronic diseases.
The rising prevalence of diseases worldwide is anticipated to result in a growing demand for secure and efficient drug-delivery systems. There is expected to be a significant increase in demand for polymers that can be used in drug delivery systems due to the increased prevalence of autoimmune diseases such as cancer, diabetes, and cardiovascular disease.
For instance, the World Health Organisation estimates that cancer will be the primary cause of roughly 10 million deaths worldwide in 2020, with which cancer cases in men were 9,342,957 contributing to 15.4% of the global cancer cases diagnosed. In contrast, females were diagnosed with 8,751,759 cancer cases in 2020, as per World Cancer Research Fund International.
North America accounted for a major share of the global drug delivery polymer market in 2021.
The drug delivery polymer market has been segmented by geography into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
The USA has a high prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases, which has led to an increased demand for advanced drug delivery systems. Using drug-delivery polymers helps improve the bioavailability of drugs, reduces side effects, and enhances patient compliance.
Also, the US government has been promoting advanced drug delivery systems through various initiatives, such as the 21st Century Cures Act and the FDA’s Expedited Programs for Serious Conditions. These initiatives have streamlined the regulatory approval process for innovative drug delivery systems, making it easier for companies to bring new products to market.
Moreover, there have been significant advancements in drug delivery technologies, such as the development of biodegradable polymers, nanotechnology-based drug delivery systems, and controlled-release formulations, which have improved the efficacy and safety of drugs. These innovations have helped to expand the range of drugs that can be delivered using polymer-based drug delivery systems.
The growing demand for self-administration of drugs has resulted in the development of user-friendly drug delivery systems such as inhalers, injectors, and transdermal patches, which have improved patient compliance and reduced healthcare costs by decreasing hospitalization. Furthermore, significant investments in research and development activities focused on drug delivery systems are expected to drive innovation and bring new products to market.
Companies Mentioned
- Adhex Pharma
- Chempilots a/s
- Bezwada Biomedical, LLC.
- POLYVATION BV
- Poly-Med, Inc.
- Henkel Corporation
- Evonik Industries AG
- ULTROXA Polymers
- IBMM/PHBM
- Serina Therapeutics
- The Lubrizol Corporation
Market Segmentation:
Material
- PLGA (Polylactic-co-glycolic acid)
- PGA (Poly-l-glutamic acid)
- Polylactic acid (Biodegradable)
- Temperature-responsive polymer
- Organic polymer
- Others
Drug Delivery Application
- Diffusion-controlled
- Solvent activated
- Biodegradable or chemically controlled
- Externally triggered (i.e., pH, temperature, etc.)
End-user
- Academic and Research Institutes
- Hospitals
- Pharmaceutical Companies
Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Others
For more information about this report visit https://www.researchandmarkets.com/r/w7htca
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