Overview and Scope
Controlled release drug delivery refers to a dosage form that administers a medicine or medication in a specified way. This drug delivery method continuously delivers pharmaceuticals or medications in predictable kinetics for the predetermined time.
Sizing and Forecast
The controlled release drug delivery market size has grown rapidly in recent years. It will grow from $59.2 billion in 2023 to $66.18 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to pioneering drug delivery systems, early polymer-based formulations, introduction of microencapsulation techniques, emergence of transdermal delivery, regulatory approvals and standardization..
The controlled release drug delivery market size is expected to see rapid growth in the next few years. It will grow to $105.06 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to shift towards personalized medicine, technological integration for patient convenience, expansion of biologics and biosimilars, market expansion in developing regions, advancements in polymer science.. Major trends in the forecast period include biodegradable and biocompatible materials, nanotechnology advancements, personalized medicine and targeted therapies, advances in implantable devices, innovative encapsulation techniques..
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Segmentation & Regional Insights
The controlled release drug delivery market covered in this report is segmented –
1) By Technology: Wurster Technique, Coacervation, Micro Encapsulation, Implants, Transdermal, Targeted Delivery, Other Technologies
2) By Release Mechanism: Polymer Based Systems, Micro Reservoir Partition Controlled Drug Delivery Systems, Feedback Regulated Drug Delivery Systems, Activation-Modulated Drug Delivery Systems, Chemically Activated,
3) By Application: Metered Dose Inhalers, Injectable, Transdermal and Ocular Patches, Other Applications
4) By End User: Hospitals, Clinics, Peronal, Research, Other End Users
North America was the largest region in the controlled release drug delivery market in 2023. The regions covered in the controlled release drug delivery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising prevalence of chronic diseases is expected to propel the growth of the controlled release drug delivery market. Chronic diseases are also known as noncommunicable diseases. It refers to conditions such as heart disease, cancer, and diabetes diseases lasting more than a year and requiring continuing medical care, limiting everyday activities, or both. Controlled-release drug delivery is crucial for treating chronic diseases. For patients with chronic illnesses that require years of treatment or those who reside in areas with limited resources and access to healthcare, drug delivery formulations that allow prolonged medication release are essential. For instance, in September 2022, according to report shared by the World Health Organization (WHO), a Switzerland-based health-specialized agency, every year, 41 million people die from chronic diseases, which accounts for 74 percent of all fatalities worldwide. Before the age of 70, 17 million individuals lose their lives to chronic illnesses. Moreover, 77 percent of deaths from chronic diseases occur in low- and middle-income nations. And these numbers are expected to rise in the future. Therefore, the rising prevalence of chronic diseases is driving the growth of the controlled release drug delivery market.
Key Industry Players
Major companies operating in the chocolate syrup market are adopting a strategic partnership approach, aiming to expand ophthalmic applications. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in March 2023, Hovione, a Portugal-based contract drug manufacturing company, announced a partnership with Ripple Therapeutics Inc. to broaden the usage of Ripple’s Epidel technology beyond ophthalmic applications. Collaboration with Hovione is an exciting next step in the expansion of the Epidel platform beyond the ophthalmology area due to the mix of technical synergy, innovative vision, and cultural fit. Hovione’s expertise in regulated, sustained drug administration, along with their knowledge of chemical synthesis and pharmaceutical manufacture, makes for an excellent collaboration. Ripple Therapeutics Inc. is a Canada-based pharmaceutical company.
The controlled release drug delivery market report table of contents includes:
1. Executive Summary
2. Controlled Release Drug Delivery Market Characteristics
3. Controlled Release Drug Delivery Market Trends And Strategies
4. Controlled Release Drug Delivery Market – Macro Economic Scenario
5. Global Controlled Release Drug Delivery Market Size and Growth
…
31. Global Controlled Release Drug Delivery Market Competitive Benchmarking
32. Global Controlled Release Drug Delivery Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Controlled Release Drug Delivery Market
34. Controlled Release Drug Delivery Market Future Outlook and Potential Analysis
35. Appendix
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