PUBLISHER: The Business Research Company | PRODUCT CODE: 1369153
PUBLISHER: The Business Research Company | PRODUCT CODE: 1369153
“Advanced Drug Delivery Systems Global Market Report 2023 ” 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 advanced drug delivery systems 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 advanced drug delivery systems? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The advanced drug delivery systems 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.
Major players in the advanced drug delivery systems market are: Pfizer Inc., Johnson and Johnson Services Inc., Roche Holding AG, AbbVie Inc., Bayer AG, Novartis AG, F. Hoffmann-La Roche Ltd., AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, 3M Company, Medtronic plc, Eli Lilly and Company, Boehringer Ingelheim GmbH, Amgen Inc., Merck Group, Becton Dickinson and Company, Baxter International Inc., Teva Pharmaceutical Industries Ltd., Sanofi S.A., Boston Scientific Corporation, Mylan N.V., Astellas Pharma Inc., Catalent Inc., Nipro Corporation, AptarGroup Inc., West Pharmaceutical Services Inc., Gerresheimer AG, and Insulet Corporation.
The global advanced drug delivery systems market is expected to grow from $240.97 billion in 2022 to $256.43 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The advanced drug delivery systems market is expected to reach $323.68 billion in 2027 at a CAGR of 6%.
The advanced drug delivery systems market consists of revenues earned by entities by providing stimuli-responsive drug delivery systems, sustained drug delivery systems, targeted drug delivery systems, and nanoparticle-based drug delivery systems. The market value includes the value of related goods sold by the service provider or included within the service offering. The advanced drug delivery systems market also consists of sales of fentanyl transdermal patches, albuterol inhalers, and hydrogels. 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.
Advanced drug delivery systems refer to innovative techniques and formulations that improve pharmaceutical medications' targeted distribution, bioavailability, and efficacy. These systems maximize drug efficacy and minimize side effects, control the drug release rate, and target specific body areas.
North America was the largest region in the advanced drug delivery systems market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in advanced drug delivery systems report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of advanced drug delivery systems are oral drug delivery systems, injection-based drug delivery systems, inhalation or pulmonary drug delivery system, transdermal drug delivery system, transmucosal drug delivery system, carrier-based drug delivery systems, and others. The oral drug delivery system refers to the process of introducing a chemical through the mouth or into the gastrointestinal tract, typically for systemic activity. The carrier types are liposomes, nanoparticles, microspheres, monoclonal antibodies, and others. It employs technology such as prodrugs, implants, intrauterine devices, targeted drug delivery, polymeric drug delivery, and others. These delivery systems are used for indicate cardiovascular diseases, oncology, urology, diabetes, CNS (central nervous system), ophthalmology, inflammatory diseases, infections, and others, which are used by hospitals, specialized clinics, clinical research and development centers.
The increasing prevalence of chronic conditions is expected to propel the growth of the advanced drug delivery systems market going forward. Chronic conditions are problems that last a year or longer, necessitating continuing medical care, restricting everyday activities, or both. Various risk behaviors, including tobacco use and exposure to secondhand smoke, poor nutrition, physical inactivity, and excessive alcohol use, cause chronic diseases. Advanced drug delivery systems allow targeted delivery of therapeutic agents to specific sites in the body affected by chronic conditions. They ensure the drug reaches the intended site of action, increasing its effectiveness and minimizing side effects. For instance, in May 2023, according to The United Nations (UN), a US-based intergovernmental organization to promote international cooperation and maintain international peace and security, Chronic diseases are responsible for seven out of 10 deaths in the US, killing more than 1.7 million Americans each year. Therefore, the increasing prevalence of chronic conditions is driving the growth of the advanced drug delivery systems market.
Advancements in technology are a key trend gaining popularity in the advanced drug delivery systems market. Major companies operating in the advanced drug delivery systems market are adopting new technologies to sustain their position in the market. For instance, in June 2023, Shilpa Medicare Limited, an India-based manufacturer and supplier of API and formulation, launched Molshil, the world's first oral thin film formulation of a pediatric dose of paracetamol. The new paracetamol formulation will have the benefits of being extremely palatable and easy to administer while also doing away with some of the disadvantages of the pediatric formulations.
In May 2022, Halozyme Therapeutics Inc., a US-based biopharmaceutical company, acquired Antares Pharma Inc. for an undisclosed amount. With this acquisition, Halozyme will enhance its strategy, solidify its top drug delivery firm position, and expand its approach to covering specialized goods with its best-in-class auto-injector technology and specialty commercial business. Antares Pharma Inc. is a US-based specialty pharmaceutical firm that creates and markets custom-designed drug delivery medications by combining drug development expertise with proprietary delivery technology to deliver safe and effective medicines.
The countries covered in the advanced drug delivery systems market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
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.
The advanced drug delivery systems research report is one of a series of new reports from The Business Research Company that provides advanced drug delivery systems market statistics, including the advanced drug delivery systems industry's global market size, regional shares, competitors with advanced drug delivery systems market share, detailed advanced drug delivery systems market segments, market trends and opportunities, and any further data you may need to thrive in the advanced drug delivery systems industry. This advanced drug delivery systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.