Controlled Release Drug Delivery Market Overview
Market Research Future (MRFR) report suggests that the global controlled release drug delivery market is anticipated to register a CAGR of 14.0 % over the review period and attain a market size worth USD 70.15 billion.Controlled release drug delivery is an advanced drug administration technique. In this, a drug with uniform dose is delivered at a targeted site to achieve the required therapeutic action. The increase in geriatric and pediatric population, the increase in prevalence of chronic diseases, and the need for administrating required dose are factors bolstering the global controlled release drug delivery market.
Controlled release drug delivery system offers several benefits like lower dose requirement, improved stability of the drug, enhanced drug safety and efficacy, minimum side effects, improved patient compliance, and higher bioavailability. These benefits are influencing the adoption of these systems globally. This system also allows dose reduction, which minimizes the risk of overdose, especially in the aging population. Such factors are likely to provide fillip Controlled Release Drug Delivery System Market Trends. The unpleasant taste of dysphagia or pediatric medication for aging population will elevate the scope of the market in the long run. On the contrary, strict government policies and complex manufacturing process are some of the concerns likely to vitiate the market growth across the globe. The increase in geriatric and pediatric population, the increase in prevalence of chronic diseases, and the need for administrating required dose are factors bolstering the global controlled release drug delivery market.
Controlled release drug delivery provides drug-encapsulating devices from which therapeutic molecules are released at a controlled rate for a period of time, that can be adjusted from days to months. These products are applicable for all age group, but it is highly preferred for the old age and pediatric population to reduce to dose and administer a uniform amount of drug. The key factors responsible for driving this market are growing R&D in the healthcare industry, increasing deaths due to overdose, and rising health-related problems due to the high dose.Controlled release drug delivery is an advanced drug administration technique. In this, a drug with uniform dose is delivered at a targeted site to achieve the required therapeutic action.
Controlled Release Drug Delivery Market Segmentation
- The global controlled release drug delivery market is segmented on the basis of route of administration, release mechanism, products, and end users.
- By route of administration the market is segmented into nasal, oral, ocular, topical, implantable, and injectable. The injectable is sub-segmented into targeted delivery, transmucosal, and transdermal.
- On the basis of the release mechanism, the market is segmented into activation modulated drug delivery systems, polymer-based drug delivery systems, feedback-regulated drug delivery systems, micro-reservoir partition-controlled drug delivery systems, and chemically activated controlled drug delivery systems. The activation modulated drug delivery systems are sub-segmented into osmotic pressure activated drug delivery, magnetically activated drug, hydrodynamic pressure activated drug delivery, mechanically activated drug, and vapor pressure activated drug delivery. The chemically activated controlled drug delivery systems are sub-segmented into enzyme activated drug delivery, pH-activated drug delivery, and hydrolysis activated drug delivery.
- By product, the market is segmented into transdermal patches, auto-injectors, metered dose inhalers, needle-free injectors, drug-eluting stents, nasal sprays, nebulizers, infusion pumps, ocular implants, and sustained release.
- By end user, the market is segmented into research centers, hospital and clinics, personal use, and others.
Controlled Release Drug Delivery Market Regional Analysis
Based on the region, the controlled release drug delivery market covers growth opportunities and latest trends across the Americas, Asia Pacific, Europe, and the Middle East & Africa.
Considering the global scenario, the Americas is considered to command the largest market share, with North America expected to dominate the market in the coming years. The growth can be ascribed to the surging cases of several diseases like Alzheimer’s and gastrointestinal diseases. Rising research and development activities, advanced infrastructure in the pharmaceutical industry, and the existence of robust pharmaceutical companies in North America will encourage the market growth.
Europe has managed to seize the second-largest share in the global market due to the increased incidence of respiratory diseases and hypertension among individuals. The rising number of patients with chronic diseases like cancer, CPOD, and diabetes will further elevate the scope of the market in Europe.
Meanwhile, the Asia Pacific is estimated to register the fastest growth due to the ever-increasing geriatric population, which has resulted in an increased demand for controlled doses to minimize the toxicity level and side effects in the patients. Moreover, the rapid expansion identified in the Chinese and Indian pharmaceutical industry will propel the market growth in the region.
Controlled Release Drug Delivery Market Players
- Corium International Inc.(US)
- Alza Corporation (Johnson & Johnson)(US)
- Pfizer Inc.(US)
- SKY Pharmaceuticals Pvt. Ltd.(China)
- AstraZeneca (US)
- Biogen (US)
- GlaxoSmithKline (UK)
- Novartis (UK)
- Allergan (Ireland)
- Collegium Pharmaceutical (US)
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