Targeted drug delivery is a strategy that selectively and preferentially delivers a therapeutic agent to the target site and does not act on the non-target site at the same time. The nanoparticles are loaded with drugs and targeted at diseased tissue. The aim of a targeted drug delivery system is to localize, prolong, target, and have a protected drug interaction with the diseased tissue. The benefits of the targeted drug delivery system include the reduction in the frequency of dosage taken by the patient, reduction in drug side effects, and uniform effect of drug.
A targeted drug delivery system can be used to treat many diseases such as cardiovascular diseases, pulmonary diseases, infectious diseases, endocrine diseases, and cancers.
The global targeted drug delivery market is estimated to be valued at US$ 6,960 million in 2022 and is expected to exhibit a CAGR of 15.9% over the forecast period (2022-2030).
Figure 1. Global Targeted Drug Delivery Market Value (US$ Million), By Region, 2022
Increasing cancer population worldwide is expected to drive the growth of the global targeted drug delivery market over the forecast period.
For instance, in 2020, according to the American Cancer Society, it was estimated that 19.3 million new cancer cases and almost 10 million cancer deaths occurred worldwide in 2020.
Targeted Drug Delivery Market Report Coverage
|Base Year:||2021||Market Size in 2022:||US$ 6,960 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||15.9%||2030 Value Projection:||US$ 22,704 Mn|
AbbVie Inc., Ablynx NV by Sanofi SA, Arrowhead Pharmaceuticals, Inc., Baxter International Inc., AstraZeneca PLC, Boston Scientific Corporation, Becton, Depomed, Inc., Fraunhofer Gesellschaft Munchen, Janssen Global Services, LLC., Luye Pharma Group, Pfizer Inc., Quark Pharmaceuticals Inc., Rexahn Pharmaceuticals Inc., Savara Inc., Roche Holding AG, Suda Limited, Vectura Group PLC, Taiwan Liposome Company, Ltd., and 3M Company.
|Restraints & Challenges:||
Figure 2. Global Targeted Drug Delivery Market Share (%), By Disease Type, 2022
Increasing research and development activities by the market players are expected to drive the market growth over the forecast period.
For instance, in February 2022, Transcenta Holding Limited, a clinical biopharmaceutical company, had announced the first patient dosed in phase IIa study of claudin 18.2 monoclonal antibody TST001 combined with cisplatin and gemcitabine for the first-line treatment of biliary tract cancer.
Moreover, in March 2022, Eucure Biopharma, a wholly-owned subsidiary of Biocytogen, had announced the first patient dosing for a phase I multi-regional clinical trials of YH002 (anti-OX40 monoclonal antibody, mAb) in combination with YH001 (anti CTLA-4 mAb) in Australia.
Global Targeted Drug Delivery Market – Impact of Coronavirus (COVID-19) Pandemic
The coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 a pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 489 million cases of coronavirus disease (COVID-19) were reported till April 3, 2022, across the globe.
The COVID-19 outbreak has disturbed various trades and businesses across the world. Healthcare systems are under tremendous pressure due to simultaneous involvement in several processes. Furthermore, the diversion of resources from developing targeted drug delivery to coronavirus treatment development has affected the development of targeted drug delivery system.
Global Targeted Drug Delivery Market Restraint
Complexity in the development of efficient targeted drug delivery system, such as high development cost, technological issues, and clinical translational failures, is expected to restrain the market growth over the forecast period.
Major players operating in the global targeted drug delivery market include AbbVie Inc., Ablynx NV by Sanofi SA, Arrowhead Pharmaceuticals, Inc., Baxter International Inc., AstraZeneca PLC, Boston Scientific Corporation, Becton, Depomed, Inc., Fraunhofer Gesellschaft Munchen, Janssen Global Services, LLC., Luye Pharma Group, Pfizer Inc., Quark Pharmaceuticals Inc., Rexahn Pharmaceuticals Inc., Savara Inc., Roche Holding AG, Suda Limited, Vectura Group PLC, Taiwan Liposome Company, Ltd., and 3M.
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