ADVANCED DRUG DELIVERY SYSTEMS MARKET ANALYSIS

The global advanced drug delivery systems market was valued at US$ 221,410.0 Mn in 2021 and is forecast to reach a value of US$ 311,542.2 Mn by 2028 at a CAGR of 5.0% between 2022 and 2028. The global advanced drug delivery systems market is experiencing strong growth due to the development of new drugs and biologics, advancements in understanding human biology and diseases, and increase in research and development. However, factors such as challenges in nanomedicine-based drug delivery and product recalls of advanced drug delivery products are expected to hamper growth of the advanced drug delivery systems market.

Global Advanced Drug Delivery Systems Market: Regional Insights

Based on geography, the global advanced drug delivery systems market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period owing to the increasing prevalence of chronic diseases and high adoption of improved drug delivery solutions in the region. For instance, heart disease is one of the leading cause of death in the United States. According to the Centers for Disease Control and Prevention (CDC), one person dies every 34 seconds from heart disease in the United States. More than 697,000 people in the U.S. died from heart disease in 2020, that's 1 in every 5 deaths.

Asia Pacific is also expected to witness significant growth in the global advanced drug delivery systems market owing to the rise in disease prevalence and growing inclination toward self-administration of drugs in the region. One in every 5 Indians below 45 have at least one morbid condition. For instance, two in every three senior citizens in India suffer from some chronic disease, according to the first Longitudinal Ageing Study in India (LASI) released by the Union Ministry of Family and Health Welfare in January 2020.

Figure 1. Global Advanced Drug Delivery Systems Market Share (%), by Region, 2021

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Global Advanced Drug Delivery Systems Market Drivers:

Increasing prevalence of chronic diseases, such as cardiovascular disease, diabetes, and asthma across the globe is expected to boost the growth of the global advanced drug delivery systems market over the forecast period. For instance, advanced drug delivery systems offer convenient options to patients, such as easy drug administration, short administration time, dose accuracy, and improved patient adherence. The World Health Organization (WHO) estimates that about 422 million people worldwide have diabetes, and prevalence of the disease has been increasing significantly in developing countries.

Development of new drugs and biologics is expected to augment growth of the global advanced drug delivery systems market over the forecast period. Advanced drug delivery systems refer to technologies used to control the rate of drug release. In June 2022, Gufic Biosciences Ltd. announced the launch of new drug delivery system, dual-chamber bags, at an affordable price in India. These dual-chamber bags are two-chamber IV bags made up of polypropylene with a peel-able aluminium foil allowing the storage of unstable drugs which need the reconstitution just before the administration to the patient.

Global Advanced Drug Delivery Systems Market Opportunities:

Rise in research and development around the world is expected to provide significant growth opportunities for players in the global advanced drug delivery systems market. For instance, in January 2020, Bigfoot Biomedical received a US$ 45 million to conducting late-stage clinical trials of its insulin management product. Called Bigfoot Unity Diabetes Management Program, the injection-based platform includes a connected insulin pen that integrates with the FreeStyle Libre system and other technologies for its data-driven approach to dosage optimization.

Increase in demand or adoption of advanced drug delivery systems is expected to offer lucrative growth opportunities for players in the advanced drug delivery systems market. For instance, in October 2020, Evonik launched an oral drug delivery technology that it says provides enteric protection followed by rapid, homogeneous release targeting of the upper small intestine. The company says its proprietary delivery technology can increase gastric resistance and improve intestinal absorption for oral drug products that target sites in the upper small intestine where there is a narrow absorption window.

Global Advanced Drug Delivery Systems Market Trends:

Technological advancements in drug delivery systems are expected to aid in the growth of the global advanced drug delivery systems market. For instance, in September 2022, Novo Nordisk and Microsoft collaborated to accelerate drug discovery and development using big data and artificial intelligence (AI). Novo and Microsoft have already pinpointed the first two use cases for the AI models that they’ll develop together.

Frequent approvals and launches of novel products by market players is expected to propel the growth of the advanced drug delivery systems market. For instance, in March 2022, Corium, Inc. received the Food and Drug Administration (FDA) approval for its ADLARITY (donepezil transdermal system) as a treatment for patients with mild, moderate, or severe dementia of the Alzheimer's type. ADLARITY is one of the first and only once-weekly patches to continuously deliver consistent doses of donepezil through the skin.

Global Advanced Drug Delivery Systems Market Restraints:

Product recalls are expected to hinder growth of the advanced drug delivery systems market. Recall is an action taken to withdraw/remove medical device from distribution or use including corrective action for which deficiencies are reported in quality, efficacy or safety. In January 2020, FUSION IV Pharmaceuticals, Inc and AXIA Pharmaceutical informed the U.S. Food and Drug Administration (FDA) that it is voluntarily recalling all unused sterile drug products within expiry, to the user level. This is due to a lack of assurance of sterility as the recalled sterile products have been found to be inconsistent with federal guidelines.

Challenges in nanomedicine-based drug delivery are expected to hamper growth of the global advanced drug delivery systems market. For instance, nanoparticles have the potential to cross the blood brain barrier, which makes them extremely useful as a way to deliver drugs directly to the brain. On the other hand, this is also a major drawback because nanoparticles used to carry drugs may be toxic to the brain.

Figure 2. Global Advanced Drug Delivery Systems Market Share (%), by Type, 2021

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Global Advanced Drug Delivery Systems Market Segmentation:

The global advanced drug delivery systems market report is segmented into Type, Application, Technology, and Geography.

Based on Type, the global advanced drug delivery systems market is segmented into Oral Drug Delivery System, Injection-Based Drug Delivery System, Inhalation/Pulmonary Drug Delivery System, Transdermal Drug Delivery System, Transmucosal Drug Delivery System, and Carrier Based Drug Delivery System, and Others. Out of which, Oral Drug Delivery System Segment is expected to dominate the pain management devices market over the forecast period and this is attributed to the rise in demand for oral drug delivery systems. Oral drug delivery method is the most common and preferred route of drug administration by both the physician and patient.

Injection-Based Drug Delivery System Segment is also expected to witness robust growth in the near future and this is owing to the increase in prevalence of chronic disease and rise in geriatric population. With the growing geriatric population, the prevalence of chronic diseases, such as cancer and diabetes is also increasing, which in turn is expected to increase the usage of injection-based drug delivery systems worldwide.

Based on Application, the global advanced drug delivery systems market is segmented into Cardiovascular Diseases, Oncology, Urology, Diabetes, CNS, Ophthalmology, Inflammatory diseases, Infections, and Others. Out of which, Cardiovascular Diseases Segment is expected to dominate the market over the forecast period and this is attributed to the increase in incidence of cardiovascular diseases worldwide. Thus, with the increase in prevalence of cardiovascular diseases, the use of advanced drug delivery systems is also increasing rapidly.

Oncology Segment is also expected to witness significant growth in the near future and this is owing to the high prevalence of cancer across the globe. Cancer is one of the leading cause of death worldwide, accounting for nearly 10 million deaths in 2020.

Based on Technology, the advanced drug delivery systems market is segmented into Prodrug, Implants and Intrauterine Devices, Targeted Drug Delivery, Polymeric Drug Delivery, and Others. Out of which, Prodrug Segment is expected to dominate the market over the forecast period due to the rise in disease prevalence. Prodrug technology has been successfully utilized to develop therapeutics and treat patients for more than 100 years. More than 7% of all drugs approved globally are Prodrugs.

Targeted Drug Delivery Segment is also expected to witness significant growth in the near future and this is owing to the increase in adoption of targeted drug delivery systems. Targeted drug delivery system is an advanced method of delivering concentrated forms of the medication to a patient, which is delivered directly to the targeted parts of the body.

Global Advanced Drug Delivery Systems Market: Key Developments

In February 2020, Safe’n’Spray, an electronic nasal spray device developed by Nemera’s was awarded for the best innovation at Pharmapack. The device is equipped with features, such as overdosing prevention of potent drugs and fingerprint identification allowing child-resistance and security.

In February 2019, Tandem Diabetes Care received the Food and Drug Administration (FDA) approval mark for t: slim X2 insulin pump with interoperable technology for children and adults for diabetes management.

In June 2018, the Food and Drug Administration (FDA) granted Insulet Corporation approval for its Omnipod DASH Insulin Management System for diabetes management.

Global Advanced Drug Delivery Systems Market: Key Companies Insights

The global advanced drug delivery systems market is highly competitive. This is attributed to the rise in disease prevalence and growing geriatric population, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global advanced drug delivery systems market are: Amgen Inc., Glaxosmithkline, Celgene Corporation, Boston Scientific, Baxter International, Astrazeneca, Astellas Pharma, 3M Company, Abbott Laboratories, and Bayer Healthcare, among others.

*Definition: Advanced drug delivery systems (ADDS) refer to technologies used to control the rate of drug release. Advanced drug delivery systems are improved methods for delivering the drug molecule to the targeted site in a controlled manner. However, the type of technology used depends on the type of disease, type of drug and desired effect.