New York, USA, Feb. 06, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global advanced drug delivery market is projected to generate a revenue of $94,352.5 million and grow at a healthy CAGR of 10.0% throughout the estimated timeframe from 2021 to 2028.
As per our analysts, with the increasing incidences of cancer among people across the globe due to a sedentary lifestyle and increased access to high-calorie food products, the advanced drug delivery market is predicted to observe remarkable growth over the forecast period. Besides, the growing application of nanoparticle-based drug delivery systems in cancer treatment is further predicted to fortify the growth of the market during the analysis timeframe. Moreover, the increasing R&D activities to develop advanced drug delivery systems are expected to create huge growth opportunities over the estimated period. However, the low penetration and poor bioavailability of nanoparticle-based drug delivery may hinder the growth of the market throughout the analysis timeframe.
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Segments of the Market
The report has divided the advanced drug delivery market into segments based on drug delivery systems, end-user, and region.
Drug Delivery System: Nanocarriers Sub-Segment to be Most Lucrative
The nanocarriers sub-segment is predicted to garner a revenue of $69,389.3 million throughout the forecast timeframe. This is mainly due to the increasing nanocarrier technology in the treatment of cancer, diabetes, and heart diseases globally. Moreover, the growing importance of nanocarriers in precisely delivering drugs at the target site is expected to augment the growth of the market sub-segment during the analysis period.
End-User: Hospital Sub-Segment to be Most Productive
The hospital sub-segment is expected to generate a revenue of $44,710.0 million over the estimated period. This is major because of the increased spending by governments of many countries spending on improving the country’s health infrastructure. Furthermore, the increasing availability of advanced diagnosis instruments in hospitals for the treatment of hospitals is predicted to bolster the growth of the market during the forecast period.
Specific Requirements on the Post COVID-19 Impact on Advanced Drug Delivery Market? Ask an Analyst
Region: North America to Hold the Maximum Share of the Market
The North America region of the advanced drug delivery market is projected to generate a revenue of $39,722.4 million during the analysis period. This is mainly because of the easy accessibility of novel pharmaceutical & biotech formulations in this region. Moreover, the increasing pervasiveness of cancer and heart diseases and the availability of skilled doctors & medical practitioners are the major factors expected to drive the regional growth of the market throughout the forecast timeframe.
Covid-19 Impact on the Advanced Drug Delivery Market
The outbreak of the Covid-19 pandemic has negatively impacted the advanced drug delivery market during the initial period of the pandemic, as many pharmaceuticals, biotechnology, and research institutes are forced to halt their R&D activities and production. However, later on, many pharmaceutical and biotechnology giants collaborated to develop therapeutics for the novel coronavirus. Such developments have paved opportunities for nanocarrier technology which has boosted the growth of the market during the period of crisis.
Key Players of the Market
The major players of the advanced drug delivery market include
- Raphas Co. Ltd.
- NanoPass
- GALDERMA
- 3M
- Altaris
- Ocular Therapeutix Inc.
- Micropoint Technologies
- Novo Nordisk A/S
- Takeda Pharmaceutical Company Limited
- Bausch Health Companies Inc.
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to procure a leading position in the global industry- Inquire here to grab full report
For instance, in June 2021, Bausch Health Companies Inc., a Canadian multinational specialty pharmaceutical company announced its collaboration with Clearside Biomedical, Inc., a biopharmaceutical company redefining the treatment of retinal diseases. With this collaboration, the companies aimed to work on the development of XIPERE, which is an investigational therapy with a proposed indication of treatment of macular edema associated with uveitis.
Further, the report also presents various other vital aspects including SWOT analysis, product development, the financial performance of the key players, and the latest strategic development.
More about Advanced Drug Delivery Market:
- A Concise Outlook on Advanced Drug Delivery Systems
- Acquisitions like That of Dicerna Pharmaceuticals by Novo Nordisk to Propel the Growth of Advanced Drug Delivery Market
