Advanced Drug Delivery Market
Number of pages: 100 | Report Format: PDF | Published date: June 13, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 63.92 billion |
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Revenue Forecast in 2031 |
US$ 279.21 billion |
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CAGR |
17.8% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Type, Technology, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global advanced drug delivery market was valued at US$ 63.92 billion in 2022 and is expected to register a revenue CAGR of 17.8% to reach US$ 279.21 billion by 2031.
Advanced Drug Delivery Market Fundamentals
Advanced drug delivery refers to the development and utilization of innovative techniques and technologies to enhance the delivery of therapeutic substances, such as drugs or biologics, to specific target sites in the body. It involves the design and formulation of drug delivery systems that can overcome various biological barriers, improve drug efficacy, minimize side effects, and provide controlled and sustained release of the active pharmaceutical ingredient (API) at the desired site of action. Advanced drug delivery systems are designed to optimize drug pharmacokinetics and pharmacodynamics, improve bioavailability, and enhance patient compliance. These systems can be tailored to deliver drugs through various routes of administration, such as oral, injectable, pulmonary, topical, or transdermal, based on the specific requirements of the therapeutic agent and the targeted disease or condition.
Advanced Drug Delivery Market Dynamics
The rising prevalence of chronic diseases, such as cancer, diabetes, cardiovascular diseases, and respiratory disorders, is driving the advanced drug delivery market demand. These systems enable targeted and localized delivery of drugs to specific sites, improving therapeutic outcomes and reducing side effects. According to the WHO, around 422 million people worldwide have diabetes, with the majority living in low- and middle-income countries and diabetes is directly responsible for 1.5 million fatalities per year. Significant advancements in drug delivery technologies, such as nanoparticles, liposomes, and implantable devices, have expanded the possibilities of delivering drugs more effectively. Ongoing research and development efforts in the field are increasing the introduction of innovative and efficient drug delivery systems. Pharmaceutical and biotechnology companies, as well as research institutes, are investing heavily in research and development activities related to advanced drug delivery systems. This investment is driven by the potential benefits offered by these systems, including improved therapeutic outcomes, enhanced patient experience, and market competitiveness.The global aging population is driving advanced drug delivery market growth. Elderly individuals often have specific healthcare needs and may require targeted and personalized drug delivery to manage multiple chronic conditions simultaneously. According to the WHO, by 2030, one in every six people will be 60 or older. At this point, the proportion of the population aged 60 and up will rise from 1 billion in 2020 to 1.4 billion. The world's population of persons aged 60 and up will double (2.1 billion) by 2050. Between 2020 and 2050, the number of persons aged 80 and more is expected to triple, reaching 426 million. There is a shift towards patient-centric and personalized medicine, where treatment approaches are tailored to individual patient needs. Advanced drug delivery systems play a crucial role in this by enabling precise drug dosing, controlled release, and targeted delivery, leading to improved treatment efficacy and patient compliance and boosting the advanced drug delivery market growth.
However, developing and commercializing advanced drug delivery systems takes a lot of work. The research and development process, including preclinical and clinical trials, manufacturing, and regulatory approvals, require substantial investments. The high cost of development is restricting the advanced drug delivery market growth. Advanced drug delivery systems often require specific regulatory approval involving complex technologies and novel delivery mechanisms. Stringent regulations and lengthy approval processes also limit the advanced drug delivery market growth.
Advanced Drug Delivery Market Ecosystem
The global advanced drug delivery market is analyzed from four perspectives: type, technology, application, and region.
Advanced Drug Delivery Market by Type
Based on the types, the global advanced drug delivery market is segmented into oral, inhalation, carrier-based, transdermal, injection-based, and others.
The oral segment accounted for the largest advanced drug delivery market share in 2022. Patients widely prefer oral drug delivery due to its ease of administration, convenience, and non-invasive nature. It eliminates the need for injections or invasive procedures, making it a more patient-friendly option. Oral medications can be self-administered by patients, allowing for greater independence and control over their treatment. The oral route of administration caters to a vast patient population, as most medications can be formulated into oral dosage forms. The prevalence of chronic diseases, such as cardiovascular diseases, diabetes, and gastrointestinal disorders, contributes to the extensive use of oral drug delivery systems. The oral route of administration can be utilized for a diverse range of therapeutic applications, including treatments for chronic diseases, acute conditions, and preventive healthcare. Oral drug delivery systems can target specific sites in the gastrointestinal tract, release drugs in a controlled manner, and achieve systemic or local effects depending on the formulation.
Advanced Drug Delivery Market by Technology
Based on the technologies, the global advanced drug delivery market is segmented into implants and intrauterine devices, targeted drug delivery, polymeric drug delivery, prodrug, and others.
The prodrug segment accounted for the highest revenue share of the advanced drug delivery market. Prodrugs are designed to improve the pharmacokinetic properties of drugs, such as solubility, bioavailability, and tissue distribution. They can enhance drug absorption, increase stability, and improve drug transport across biological barriers. These advantages contribute to improved drug efficacy and therapeutic outcomes. Prodrugs can be engineered to minimize the side effects of the parent drug molecule. By altering the pharmacokinetics or chemical structure, prodrugs can reduce toxicity, decrease interactions with non-target tissues, and improve the tolerability profile of the drug. This leads to better patient safety and compliance. Prodrug development can offer opportunities for patent extensions and life cycle management of existing drugs. By developing prodrugs of well-established drugs that have expired or are approaching patent expiration, pharmaceutical companies can extend the exclusivity period and commercial viability of the product. The pharmaceutical industry and research community have shown a significant interest in prodrug development. Considerable research and development efforts are being dedicated to identifying and developing prodrugs for a wide range of drugs and therapeutic applications, this is boosting segmental growth.
Advanced Drug Delivery Market by Application
Based on the applications, the global advanced drug delivery market is segmented into oncology, urology, diabetes, cardiovascular diseases, central nervous system, ophthalmology, infections, and others.
The cardiovascular diseases segment had a significant advanced drug delivery market share in 2022. Cardiovascular diseases, such as hypertension, coronary artery disease, heart failure, and arrhythmias, are among the leading causes of morbidity and mortality worldwide. The significant prevalence of these diseases creates a substantial market demand for advanced drug delivery systems specifically tailored for cardiovascular therapies. According to the WHO, cardiovascular diseases (CVDs) account for approximately 17.9 million deaths annually, making them the leading cause of mortality worldwide. Treating cardiovascular diseases often requires precise drug delivery strategies to target specific areas within the cardiovascular system. Advanced drug delivery systems can improve drug efficacy, minimize side effects, and provide a controlled release of drugs to enhance cardiovascular therapies. Cardiovascular diseases often require targeted and localized drug delivery to specific sites within the cardiovascular system, such as arteries, veins, or the heart. Advanced drug delivery systems, including drug-eluting stents, nanocarriers, and implantable devices, allow for site-specific drug release, reducing systemic exposure and enhancing therapeutic outcomes.
Advanced Drug Delivery Market by Region
The global advanced drug delivery market has been geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The North America region has the largest advanced drug delivery market size in terms of revenue generation accounting for around 36.7% share of the market. North America has a high burden of chronic diseases, such as cardiovascular diseases, diabetes, cancer, and respiratory disorders. The rising prevalence of these conditions drives the demand for advanced drug delivery systems that can enhance treatment efficacy, improve patient compliance, and minimize side effects. According to the 2022 National Diabetes Statistics Report released by the Centers for Disease Control and Prevention, it is estimated that more than 130 million adults are living with diabetes or prediabetes in the U.S. North America is a hub for pharmaceutical research and development, with significant investments in advanced drug delivery technologies. Technological advancements, such as nanotechnology, biomaterials, and targeted drug delivery systems, drive regional innovation. North America has a robust healthcare infrastructure, including advanced healthcare facilities, research institutions, and regulatory frameworks. The presence of renowned academic institutions, pharmaceutical companies, and clinical research organizations facilitates the development and commercialization of advanced drug delivery systems. North America has one of the highest healthcare expenditures globally, driven by factors such as an aging population, increasing healthcare costs, and a higher prevalence of chronic diseases. The need for cost-effective and efficient healthcare solutions fuels the demand for advanced drug delivery systems to improve treatment outcomes, reduce hospital stays, and enhance patient quality of life.
Advanced Drug Delivery Market Competitive Landscape
The prominent players operating in the global advanced drug deliverymarket are:
Advanced Drug Delivery Market Strategic Developments
Advanced drug delivery refers to the development and utilization of innovative techniques and technologies to enhance the delivery of therapeutic substances, such as drugs or biologics, to specific target sites in the body.
Asia Pacific can be considered the key growth region due to the surge in advanced drug delivery industry trends in China, Japan, and the Indian subcontinent.
The prominent players operating in the global advanced drug delivery market are Boston Scientific Corporation, Becton, Dickinson and Company (BD), Baxter, AbbVie Inc., and 3M Company.
The global advanced drug delivery market growth is estimated to grow at a revenue CAGR of 17.8% during the forecast period from 2023 to 2031.
The estimated size of the global advanced drug delivery market in 2031 is US$ 279.21 billion.
*Insights on financial performance are subject to the availability of information in the public domain