According to a report by Grand View Research, Inc., global controlled release drug delivery market is anticipated to value USD 90.18 billion by 2025. Growing requirement for reduction in amount of drug dose and dosage frequency to achieve prolonged therapeutic effect is anticipated to propel demand for controlled release drug delivery system. These systems are likely to offer multiple benefits over conventional medication delivery methods such as fewer adverse gastrointestinal effects, uniform drug effect, and enhanced patient compliance.
Rising R&D investments to develop advanced drug delivery systems offering ease of medication administration can influence growth of market. Growing need for controlled release of medication dosage for geriatric and pediatric patients can spur market growth. Growing adoption of systems that can deliver medication at predetermined rate systematically or locally can augment growth of market during the forecast period (2014 to 2025).
Full Research Report On Controlled Release Drug Delivery Market Analysis:
The controlled release drug delivery market can be segregated on the basis of technology, release mechanism, application, and region. Based on technology, the market can be categorized into microencapsulation, wurster technique, implants, transdermal, targeted delivery, coacervation, and others. Targeted delivery segment dominated the market and accounted for largest market share in recent years. It can help delivering medication to target site and can prevent toxicity by keeping it away from other sites. In addition, it can bring uniform effect of medication and reduce fluctuation in circulating drug levels.
On the contrary, microencapsulation segment is likely to gain traction among consumers owing to rising demand among companies over traditional drug delivery methods. It can reduce toxicity and hence preferred among doctors for treatment of pediatric and geriatric patients.
Based on release mechanism, the market can be classified into feedback regulated drug delivery systems, polymer matrix based systems, activation-modulated drug delivery systems, micro reservoir partition controlled drug delivery systems, and chemically activated. In 2016, polymer matrix based systems segment dominated the market and accounted for largest market share owing to high demand. Ability to release controlled and spatial release of loaded therapeutics coupled with their rate dissolution can stimulate growth of segment.
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Similarly, chemically controlled systems segment can witness significant growth over the forecast period. These systems can include hydrolysis activated systems, pH-activated systems, and enzyme-responsive solutions.
Based on application, the market can be divided into metered dose inhalers, injectable, transdermal and ocular patches, infusion pumps, oral controlled-drug delivery systems, and drug eluting stents. In 2016, oral systems segment dominated the market and accounted for largest market share attributed to frequent usage and availability. In addition, these systems can offer targeted delivery and hence preferred over conventional methods. Moreover, rising need for generic medication is likely to create demand for oral drug delivery systems to limit quantity of medicine used.
Similarly, metered dose inhalers segment can also witness growth owing to its ability to administer medication in controlled form using nanoparticles and polymeric materials. Controlled release of drug to treat pulmonary disease can reduce frequency of dosage by allowing medication to be delivered at desired site of action can surge demand for metered dose inhalers.
Moreover, drug-eluting stents can be used for treatment of several cardiac disorders.
Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. In 2016, North America dominated the market and accounted for largest market share. Continual deployment of favorable government initiatives for development of controlled release drug delivery coupled with rising investments in R&D activities can fuel market growth. In addition, high prevalence of leading market players in the region can augment growth of market. Moreover, growing number of NDA and ANDA applications in the region coupled with rising use of controlled release drug delivery systems by pharmaceutical companies can stimulate market growth.
In Asia Pacific, the market is expected to witness significant growth at highest CAGR over the forecast period. Continual developments in pharmaceutical sector coupled with rising R&D investments by multinational companies can influence growth of market. In addition, liberal federal regulations and untapped market opportunities can fuel market growth.
Some of the leading companies offering controlled release drug delivery systems are Johnson and Johnson; Corium International, Inc.; Alkermes plc; Orbis Biosciences, Inc.; and Aradigm Corporation.
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