Dublin, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The "Global Controlled Release Drug Delivery Market Size, Share & Industry Trends Analysis Report By Release Mechanism, By Technology, By Application, By Regional Outlook and Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global controlled release drug delivery market is expected to reach $106.3 billion by 2030, with a compound annual growth rate (CAGR) of 10.4% during the forecast period. The report provides an in-depth analysis of various segments within the market, including release mechanisms, technology, applications, and regional outlook.
Coacervation, a novel drug delivery mechanism, contributed significantly to the market in 2022, generating $5,289.0 million in revenue. Coacervates offer several advantages, including enhanced effectiveness, reduced side effects, convenience, and precise linear medication administration over a predetermined period. These coacervates, particularly those made of heparin for the regulated delivery of growth factors, are gaining popularity in the market.
Several factors are driving the growth of the global controlled release drug delivery market, including:
- Growing Application of Non-Invasive Drug Delivery Techniques: Non-invasive modes of targeted medication delivery are increasingly competing with traditional injectables and uncomfortable routes of drug delivery. Technological advancements in medicine and straightforward oral drug delivery methods are making non-invasive drug delivery more attractive.
- Increase in the Global Aging Population: The world's elderly population is rapidly growing, with an estimated 1.5 billion people aged 65 or older by 2050. With aging populations being more susceptible to age-related health issues, there is an increased demand for novel drug delivery systems.
- Impact of COVID-19 Pandemic: The COVID-19 pandemic has had a favorable effect on the controlled release drug delivery market. The demand for novel drug delivery systems and technologies has increased as they play a crucial role in addressing viral illnesses.
However, the market faces challenges related to drug formulation, including active pharmaceutical ingredients with short half-lives and the need for higher dose delivery. Technological setbacks or delays could also slow market expansion.
Key Segments:
- Application Outlook: The oral controlled drug delivery systems segment accounted for the largest revenue share in 2022. These systems enhance drug bioavailability, absorption, and therapeutic effectiveness, addressing challenges such as low solubility, enzymatic degradation, and first-pass metabolism.
- Technology Outlook: Micro encapsulation is a rapidly growing segment due to the increasing demand for controlled medication release of complex and unstable compounds, including proteins, antioxidants, and vitamins.
- Release Mechanism Outlook: Feedback regulated drug delivery systems recorded the largest revenue share in 2022, primarily due to their therapeutic effectiveness in treating conditions like diabetes.
- Regional Outlook: North America led the market in 2022, driven by increased investment in research and development, government initiatives, and the presence of large market participants. The rising prevalence of chronic diseases like cancer, diabetes, and heart diseases also contributed to market growth.
Key companies profiled in the report include
- Johnson & Johnson
- Merck & Co.
- Alkermes
- Pfizer
- Assertio Holdings
- Lonza Group
- Colorcon
- Corium
- Adare Pharma Solutions
- Coating Place
The report also highlights strategic moves by market players, including acquisitions, collaborations, and product launches, to stay competitive and drive growth in the market.
For more information about this report visit https://www.researchandmarkets.com/r/6svjp
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