Controlled Release Drug Delivery Market Trends and Insights
Controlled release drug delivery is an advanced drug administration technique. In this, a drug with uniform dose is delivered at a targeted site to achieve the required therapeutic action.
Market Research Future (MRFR) report suggests that the global controlled release drug delivery market is anticipated to register a CAGR of 14.0 % over the review period of 2017-2023 and attain a market size worth USD 70.15 billion by 2023.
The increase in geriatric and pediatric population, the increase in prevalence of chronic diseases, and the need for administrating required dose are factors bolstering the global controlled release drug delivery market. However, the possibility of drug overdose can hinder the market expansion.
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Controlled Release Drug Delivery Market Regional Analysis
Based on the region, the market has been segmented into the Americas, Asia Pacific, Europe, and the Middle East Asia and Africa.
The market in the Americas is expected to be at the forefront during the forecast period. The government is supporting developmental activities concerning controlled release drug delivery. Furthermore, the surge in prevalence of chronic diseases in the region is triggering the need for effective medical techniques. These factors are attracting investments for research and development. Hence, fostering the regional market growth.
Europe is expected to secure the second position in the market, globally. The increase in number of Abbreviated New Drug Application (ANDA) and New Drug Application (NDA) applications in Europe, demonstrates intensive research and developmental activities. Additionally, the region is experiencing a surge in the geriatric population. These factors are likely to play a significant role in the European market growth.
The market in the Asia Pacific is expected to expand at the fastest rate. Both government and private organizations in APAC, are making a hefty investment in the research and developmental activities. This is playing a pivotal role in product innovations. Moreover, the pharmaceutical industry in emerging economies like India and China, is growing at a rapid pace. MRFR identified these factors to escalate the market growth.
The Middle East Asia and Africa region is predicted to garner the least share of the market during the forecast period. The less per capita income and under-developed medical infrastructure are accounted for the lagging regional market growth. However, campaigns creating awareness about healthcare facilities in the MEA can impel the market growth.
Controlled Release Drug Delivery Market Segmental Overview
The controlled release drug delivery market study has been segmented into release mechanism, route of administration, products, and end user.
Based on the release mechanism, the market has been segmented into polymer-based drug delivery system, micro reservoir partition-controlled drug delivery system, feedback regulated drug delivery system, activation modulated drug delivery system, and chemically activated drug delivery system. The activation modulated drug delivery system segment has been classified into osmotic pressure activated drug delivery, hydrodynamic pressure activated drug delivery, vapor pressure activated drug delivery, mechanically activated drug delivery, and magnetically activated drug delivery. The chemically activated controlled activated drug delivery systems segment has been narrowed down to pH activated drug delivery, hydrolysis activated drug delivery, and enzyme activated drug delivery.
On the basis of route of administration, the market has been segmented into injectable, oral, implantable, nasal, topical, and ocular. The injectable segment is classified into transdermal, targeted delivery, and transmucosal.
Based on the product, the market is has been segmented into drug-eluting stents, ocular implants, auto-injectors, nasal sprays, needle-free injectors, nebulizers, transdermal patches, infusion pumps, metered dose inhalers, and sustained release.
On the basis of end user, the market has been segmented into research centers, hospital and clinics, personal use, and others.
Controlled Release Drug Delivery Market Players
Corium International Inc.(US), Collegium Pharmaceutical(US), Alza Corporation (Johnson & Johnson)(US), Pfizer Inc.(US), AstraZeneca (US),Biogen (US), GlaxoSmithKline (UK), Novartis (UK), Depomed, Inc. (US), Allergan (Ireland), Coating Place, Inc.(US), SKY Pharmaceuticals Pvt. Ltd.(China), and others.
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