New York, United States, Oct. 20, 2022 (GLOBE NEWSWIRE) -- According to a research report, published by Spherical Insights & Consulting, the Global Targeted Drug Delivery Market Size to grow from USD 6,960 million in 2021 to USD 26,468 million by 2030, at a CAGR of 16% during the forecast period. The targeted drug delivery market is increasing prevalence of diabetes among the population, the rise in research and development activities, and the increasing adoption of inorganic growth strategies by key players operating in the market. The Asia Pacific is expected to grow the fastest during the forecast period.
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Targeted drug delivery is the easiest way which is used to enhance the pharmacological and therapeutic properties of conventional drugs; not only this, it also helps in solving issues such as limited solubility, drug aggregation, poor bio-distribution, and a lack of selectivity, control drug release carrier, and reduce damage to normal tissue. A variety of drug carriers are utilized in targeted drug delivery, which results in the selective administration of the medicine to the organs, tissues, and cells being treated. Because it is non-toxic and biodegradable, it can potentially improve the concentration of the medication in the lesion site. Several forms of drug delivery vehicles include dendrimers, nanoparticle drug carriers, dendrimer-based drug carriers, polymeric micelles, and drug carriers based on lipoproteins. A perfect vehicle for drug delivery would be non-toxic, biocompatible, biodegradable, and non-immunogenic. Additionally, it would need to escape being recognized by the host's defensive mechanism. The market for targeted drug delivery systems worldwide has been broken down into distinct submarkets depending on delivery system, application, route of administration, and geographic region. In terms of the delivery method, it is anticipated that the targeted drug delivery sector will maintain its dominance during the projection period, with the polymeric drug delivery segment coming in second place.
The cardiovascular diseases segment to account for the largest market size during the forecast period
Based on the disease type, the targeted drug delivery market is categorized into pulmonary, endocrine, cardiovascular, infectious, and oncological disorders. In 2021, the cardiovascular diseases segment dominated the market with the largest market share of 21% and market revenue of 1,461 million. The primary factor contributing to the expansion of the cardiovascular disease market is the absence of public health initiatives that are both efficient and successful in eliminating risk factors for cardiovascular disease. Furthermore, the increasing demand for targeted drug delivery propels the segment's growth.
Browse key industry insights spread across 245 pages with 134 market data tables and figures & charts from the report" Global Targeted Drug Delivery Market Size, Share, and COVID-19 Impact Analysis, By Disease Type (Pulmonary Diseases, Endocrine Diseases, Cardiovascular Diseases, Infectious Diseases, and Oncological Disorders), By Application (First Order Targeting [Organ Compartmentalization], Second Order Targeting [Cellular Targeting], and Third Order Targeting [Intracellular Targeting]), By End User (Hospitals, Clinics, and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." in detail along with the table of contents
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The Asia-Pacific market is expected to grow at the fastest CAGR between 2022 and 2030, owing to the increasing demand for several applications such as catheters & cannulas, drug delivery systems, bulk targeted drug delivery, and other special applications (smoke evacuation tubing and peristaltic pump tubing). In addition, the increase in healthcare accessibility and the rapidly growing demand for minimally invasive medical procedures adds impetus to the market’s growth in the region. The multiplying middle-class population in China and India increases the demand for minimally invasive techniques. There is advancement in the efficient medical devices in the region coupled with the increasing interest of people in taking care of elderly people at home with easy & simple products.
North America is expected to be the largest market
The targeted drug delivery market has been segmented into five major regions: North America, Europe, APAC, Latin America, and MEA. The market for targeted drug delivery in the North American region has been expanding owing to the increasing rising R&D activities by several small and medium enterprises to develop medical healthcare facilities in the healthcare sector. However, a primary increase in North America’s growth is in the costs associated with research and development in the United States for sophisticated drug delivery systems. The number of people who have cancer is another element that contributes to expanding the industry in North America. Asia Paific to hold a higher CAGR during the forecast period.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major global targeted drug delivery market vendors include AstraZeneca plc., Dickinson & Company, Bayer AG, Pfizer, Inc., Novartis AG, Amgen Inc., Johnson and Johnson Services Inc., Baxter International, Inc., Boston Scientific Corporation, and Becton. And Other Prominent Key Players.
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