Advanced Drug Delivery Systems Market - Growth, Trends, and Forecast (2020 - 2025)
The global advanced drug delivery systems market is expected to register a CAGR of 5.3% during the forecast period. The factors that are driving this market includes 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 chemoimmunoconjugates. 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.
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. Therefore 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 global advanced drug delivery systems market owing to the better adoption of improved drug delivery solutions as well as follow up of advanced treatment approaches in healthcare. This is followed by the European market owing to better healthcare infrastructure facilities and growing number of research activities in the healthcare domain over the region.
The advanced drug delivery systems market is moderately competitive. Some of the major players in this market are Boston Scientific Corporation, Baxter International, 3M and others. 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.
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