SEATTLE, April 22, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global targeted drug delivery market is estimated to be valued at US$ 6,960 million in 2022 and is expected to exhibit a CAGR of 15.9 % over the forecast period (2022-2030).
Key Trends and Analysis of the Global Targeted Drug Delivery Market:
Key trends in the market include increasing cancer population, research and development of novel products, and adoption of growth strategies such as collaborations, partnerships, mergers, and acquisitions among key players. These key trends are expected to aid in the growth of the targeted drug delivery market.
For instance, according to data published by American Cancer Society in February 2021, there were 1, 76,404 cases of multiple myeloma in 2020 worldwide.
Moreover, market players are focusing on development of targeted drug delivery which is expected to drive the market growth over the forecast period. For instance, in March 2022, Novartis Pharmaceutical Pluvicto (lutetium Lu 177 vipivotide tetraxetan) approved by the U.S. Food and Drug Administration (FDA) as first targeted radioligand therapy for the treatment of prostate-specific membrane antigen-positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC).
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Furthermore, key players operating in the global targeted drug delivery market are focusing on the adoption of inorganic growth strategies such as acquisitions, mergers, partnerships, and collaborations, in order to strengthen their market presence in the global market. For instance, in May 2021, MindMed, a leading clinical-stage psychedelic medicine company, and Nextage Therapeutics, an Israeli innovative drug development company, announced the execution of a Memorandum of Understanding (MOU) regarding the launch of an exclusive collaborative development program to optimize the delivery of certain psychedelic drug candidates, leveraging Nextage’s proprietary brain targeting liposomes system delivery technology.
Key Market Takeaways:
The global targeted drug delivery market is expected to exhibit a CAGR of 15.9 % over the forecast period, owing to rising collaborations among the market players. For instance, in January 2019, AstraZeneca PLC, a multinational pharmaceutical and biotechnology company, had signed an agreement with Aptamer Group, a leading provider of custom Optimer selection and development services for the targeted drug delivery research.
Among disease type, oncological disorder segment accounted for largest market share in 2022. For instance, according to the data published in 2021 in American Cancer Society, in 2021, 1.9 million new cancer cases were diagnosed.
Competitive Landscape:
Key players operating in the global targeted drug delivery market include AbbVie Inc., Ablynx NV by Sanofi SA, Arrowhead Pharmaceuticals, Inc., Baxter International Inc., AstraZeneca PLC, Boston Scientific Corporation, Becton, Depomed, Inc., Fraunhofer Gesellschaft Munchen, Janssen Global Services, LLC., Luye Pharma Group, Pfizer Inc., Quark Pharmaceuticals Inc., Rexahn Pharmaceuticals Inc., Savara Inc., Roche Holding AG, Suda Limited, Vectura Group PLC, Taiwan Liposome Company, Ltd., and 3M.
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Market Segmentation:
- Global Targeted Drug Delivery Market, By Disease Type:
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- Cardiovascular Diseases
- Pulmonary Diseases
- Infectious Diseases
- Endocrine Diseases
- Oncological Disorders
- Global Targeted Drug Delivery Market, By Application:
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- First Order Targeting (Organ Compartmentalization)
- Second Order Targeting (Cellular Targeting)
- Third Order Targeting (Intracellular Targeting)
- Global Targeted Drug Delivery Market, By End User:
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- Hospitals
- Clinics
- Others
- Global Targeted Drug Delivery Market, By Region:
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- North America
- By Country
- North America
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- U.S.
- Canada
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- Latin America
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- By Country
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- Brazil
- Mexico
- Argentina
- Rest of Latin America
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- Europe
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- By Country
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- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
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- Asia Pacific
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- By Country
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- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
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- Middle East
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- By Country
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- GCC
- Israel
- Rest of Middle East
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- Africa
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- By Country
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- South Africa
- Central Africa
- North Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
