PUBLISHER: The Business Research Company | PRODUCT CODE: 1435441
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435441
Liposomal drug delivery devices are microscopic colloidal spheres utilized to transport drug molecules to specific action sites.
Primary types encompass liposomal doxorubicin, liposomal paclitaxel, liposomal amphotericin B, and others. Liposomal doxorubicin, a chemotherapy drug under the anthracycline category, encapsulated within a liposome, inhibits cancer cell growth by blocking the enzyme topoisomerase. These devices find applications in treating fungal diseases, cancer therapy, pain management, viral vaccines, and photodynamic therapy, utilized in hospitals, diagnostic centers, ambulatory surgery centers/clinics, and similar medical settings.
The liposomal drug delivery devices market research report is one of a series of new reports from The Business Research Company that provides liposomal drug delivery devices market statistics, including liposomal drug delivery devices industry global market size, regional shares, competitors with a liposomal drug delivery devices market share, detailed liposomal drug delivery devices market segments, market trends and opportunities, and any further data you may need to thrive in the liposomal drug delivery devices industry. This liposomal drug delivery devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The liposomal drug delivery devices market size has grown rapidly in recent years. It will grow from $4.52 billion in 2023 to $5.02 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth observed in the historical period can be attributed to several factors, including advancements in drug delivery techniques, biomedical research progress, clinical validation of these methods, diverse therapeutic applications, and improvements in biocompatibility, collectively contributing to the expansion of liposomal drug delivery devices.
The liposomal drug delivery devices market size is expected to see rapid growth in the next few years. It will grow to $7.71 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. Anticipated growth is from targeted therapies, clinical trials, personalized medicine focus, combination therapies, and regulatory changes. Trends include biocompatible materials, delivery innovations, oncology applications, combination therapies, and customized formulations in liposomal drug delivery.
The escalating global incidence of cancer cases is poised to be a driving factor in the growth of the liposomal drug delivery devices market during the forecast period. Liposomal drug delivery systems play a pivotal role in targeted cancer therapy, encompassing radiation therapy, chemotherapy, and surgical resection. Notably, the American Cancer Society reported 1.9 million new cancer cases and 0.6 million cancer-related deaths in the USA in 2021. With lung, prostate, bowel, and female breast cancer collectively constituting 43% of all new cases globally, the surge in cancer rates worldwide is expected to significantly enhance the demand for liposomal drug delivery devices in the coming years.
The anticipated upswing in healthcare expenditure is set to propel the expansion of the liposomal drug delivery devices market. Factors contributing to the rise in healthcare spending include the heightened prevalence of chronic diseases, advancements in medical technology, escalating drug prices, consumer expectations, and increasing insurance costs. Healthcare expenditure encompasses various facets, including research, development, manufacturing, distribution, and utilization of medical technologies such as liposomal drug delivery systems. In July 2022, the Peter G Foundation projected that both public and private healthcare spending in the United States would increase from $4.4 trillion in 2022 to $7.2 trillion in 2031. This rise in expenditure, outpacing economic growth, is anticipated to foster the growth of the liposomal drug delivery devices market.
The elevated cost associated with liposomal drug delivery devices is expected to impede the market's growth during the forecast period. The high cost of these devices renders liposomal treatments prohibitively expensive for patients, posing a constraint on market expansion. Notably, lipid/liposomal drug delivery systems are reported to be costly to produce, attributed to the high production cost associated with raw materials such as lipid excipients and the necessity for expensive equipment in the manufacturing process. Moreover, according to the ScienceDirect Journal, liposomal drug delivery stands out as the most expensive treatment for topical disorders such as psoriasis, atopic dermatitis, and skin cancer.
Prominent companies in the liposomal drug delivery devices market are actively engaging in strategic initiatives such as collaborations and new product development, emerging as a prevailing trend in the industry. These companies are forming partnerships to jointly develop liposomal drug delivery systems, aiming to broaden their product portfolios and enhance global operations. A notable example is the collaboration between MindMed, an Israeli creative drug development company, and Nextage, where a Memorandum of Understanding was executed in 2021. This collaboration focused on optimizing the supply of specific psychedelic drug candidates using Nextage's proprietary Brain Targeting Liposome System (BTLS) supply technology, under license.
Major players in the liposomal drug delivery market are introducing innovative products, including liposomal nanostructures, as a strategic move to gain a competitive advantage. Researchers are dedicated to developing liposomal nanostructures designed to enhance patient compliance by allowing less frequent doses while maintaining efficacy. An illustrative example comes from February 2022, where commercial nano-liposomal products, such as Onivyde, Vyxeos, and Marqibo, have been introduced and approved for use. These medications, employed in the treatment of cancer, specifically address certain types of leukemia or solid tumors. Onivyde, Vyxeos, and Marqibo play a critical role in oncology by offering treatment options for specific cancer types resistant to conventional chemotherapy or requiring liposomal drug delivery.
In December 2021, AstraZeneca, a UK-headquartered research-based biopharmaceutical firm, entered into a collaboration with professors Fredrik Hook and Elin Esbjorner of Chalmers University of Technology in Sweden, the terms of which were not disclosed. The collaboration is specifically oriented towards advancing the field of lipid nanoparticles (LNPs) for intracellular transport of nucleotide-based therapeutics, as well as the efficient production of protein therapeutics within cells. The partnership leverages the expertise of Fredrik Hook and Elin Esbjorner, who hold positions as professors at Chalmers University of Technology, a distinguished private research university based in Sweden.
Major companies operating in the liposomal drug delivery devices market report are Pfizer Inc., Johnson & Johnson Services Inc., Merck & Co. Inc., Novartis AG, Medtronic PLC, Gilead Sciences Inc., Teva Pharmaceutical Industries Ltd., Mylan NV, Sun Pharmaceutical Industries Ltd., CSPC Pharmaceutical Group Limited, Ipsen SA, Novavax Inc., Shanghai Fudan Zhangjiang Bio-Pharmaceutical Co. Ltd., Nanomerics Ltd., Luye Pharma Group Ltd., Leadiant Biosciences Inc., Pacira Biosciences Inc., Tolmar Pharmaceuticals Inc., Nippon Kayaku Co. Ltd., Celsion Corporation, Acrotech Biopharma Inc., Aphios Pharma LLC, CytImmune Sciences Inc., NanoSphere Health Sciences Inc., Cel-Sci Corporation, Lipoid GmbH, Liposome Company Inc., Liposome Research Days Corporation, Taiwan Liposome Company, T&T Scientific Corporation
North America was the largest region in the liposomal drug delivery devices market in 2023. Asia-Pacific was the second-largest region in the global liposomal drug delivery devices market share. The regions covered in the liposomal drug delivery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the liposomal drug delivery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The liposomal drug delivery devices market consists of sales of instruments such as liposomal doxorubicin, liposomal paclitaxel, liposomal amphotericin B, and others. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Liposomal Drug Delivery Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on liposomal drug delivery devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for liposomal drug delivery devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The liposomal drug delivery devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.