The global advanced drug delivery systems market is expected to register a CAGR of five percent during the forecast period, 2019 to 2024.
The factors that are driving this market include the development of new drugs and biologics, advancements in understanding human biology and diseases and increased R&D spending.
The advanced drug delivery systems are more focused on the maintenance of bioavailability of drug as per patient requirement, as well as the rate of drug delivery. Genetic engineering led to the development of new strategies to deliver biotechnologically-derived protein, peptide drugs, and chemo-immunoconjugates.
The advanced drugs and biologics have higher efficiency with a smaller dosage of the drug, and hence they have to be supported with advanced drug delivery systems to gain maximum efficacy from the drug. In addition to the drugs and biologics, the drug-eluting implants have the potential to provide uninterrupted treatment and reduction in drug dosage (hence lesser need for frequent dosing). The advanced sustained release systems help target intestinal infections and others.
The increasing disease burden across the world, the proven efficacy of controlled-release drug delivery systems in addressing a wide range of diseases, and the growing R&D trends by both the innovators and the generic players for advanced drug delivery systems, are propelling the growth of the market.
Scope of the Report
The concept of advanced drug delivery system is to increase the efficacy of drugs. Advanced drug delivery systems are adopted to increase the bioavailability of the drug, reduce adverse effects and side effects, and increase drug stability.
Key Market Trends
Oral Drug Delivery System Segment by Type to Hold the Highest CAGR
The oral drug delivery system segment of the global advanced drug delivery systems market is expected to record the highest CAGR over the forecast period.
Over the past decade, the oral controlled-release drug delivery system has received extensive attention, due to its flexibility, reduced dosing frequency, and better patient compliance. The aforementioned factor, in combination with a reasonable cost of oral controlled-release drug delivery system, has led to the ease of market penetration.
North America Dominates the Market and is Believed to Follow the Same Trend Over the Forecast Period
North America currently dominates the advanced drug delivery systems market and is expected to continue its stronghold for a few more years. The United States holds the largest share of this market in the North America region. Advancements in pharmacology and the increasing adoption of a novel drug delivery system are expected to drive the US drug delivery systems market during the forecast period.
Competitive Landscape
The advanced drug delivery systems market is moderately competitive. Some of the major players in this market are Boston Scientific Corporation, Baxter International, 3M, Abbott Laboratories, and GlaxoSmithKline PLC. Owing to the continuous technological advancements in the drug delivery system, there is a possibility of new entrants in the market in the coming future.
