Drug delivery is the method of administering a pharmaceutical compound (drugs) to achieve a therapeutic effect in both humans and animals. Advanced drug delivery systems (ADDS) refer to technologies used to control the rate of drug release. These systems are improved methods for delivering the drug molecule to the targeted site in a controlled manner. Advanced drug delivery systems offer convenient options to patients, such as easy drug administration, short administration time, dose accuracy, and improved patient adherence. However, the type of the technology used depends on the type of disease, type of drug and desired effect.
Market Statistics:
The global advanced drug delivery systems market is estimated to account for US$ 231,816.3 Mn in terms of value by the end of 2022.
Drivers:
Increase in adoption of advanced drug delivery systems across the globe is expected to propel the growth of the advanced drug delivery systems market during the forecast period. With the rise in disease prevalence, the adoption of advanced drug delivery systems is also increasing with a rapid pace. In March 2022, the U.S. Food and Drug Administration (FDA) approved the first generic of Symbicort, an Inhalation Aerosol for the treatment of two common pulmonary health conditions, asthma in patients 6 years of age & older, and chronic obstructive pulmonary disease (COPD), including chronic bronchitis and/or emphysema.
Opportunities:
Rise in prevalence of chronic diseases, such as cancer, around the world, is expected to provide significant growth opportunities for players in the advanced drug delivery systems market. For instance, advanced drug delivery systems are carriers for a wide range of pharmacotherapies used in many applications, including cancer treatment. Thus, with the increase in prevalence of cancer, the use of advanced drug delivery systems is also increasing. According to the World Health Organization (WHO), cancer was the leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths.
Restraints:
Challenges in drug delivery and product recalls are some major factors expected to hamper the growth of the advanced drug delivery systems market. In August 2020, Ikaria, Inc. announced that its INOMAX DS drug-delivery systems in the United States are being voluntarily recalled due to the potential failure of a pressure switch which may have an impact on the administration of INOMAX (nitric oxide) for inhalation to patients. This class I recall is being conducted with the knowledge of the U.S. Food and Drug Administration (FDA).
To know the latest trends and insights prevalent in Global Advanced Drug Delivery Systems Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/advanced-drug-delivery-systems-market-5243
Global Advanced Drug Delivery Systems Market - Impact of Coronavirus (Covid-19) Pandemic
The outbreak of COVID-19 has had a significant effect on the advanced drug delivery systems market. Several studies emphasized how advanced drug delivery systems would help develop better delivery systems of existing therapeutic agents. For instance, in June 2020, AstraZeneca, the University of Gothenburg, and Chalmers University of Technology in Sweden announced new pivotal research combining many promising concepts to investigate a nasal spray mRNA vaccine against COVID-19.
Key Takeaways:
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.
Among type, oral drug delivery system segment held dominant position in the global advanced drug delivery systems market in 2022, accounting for 38.1% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Market Trends:
- Increase in number of clinical trials is expected to boost growth of the global advanced drug delivery systems market. For instance, in 2020, Progenity Inc. reported positive preliminary preclinical data regarding the performance of its oral drug delivery system, the capsule, which uses a proprietary autonomous localization technology designed to identify the ileal/ileocecal region of the GI (Gastrointestinal) tract.
- Frequent approvals and launches of novel products is expected to drive growth of the global advanced drug delivery systems market. For instance, according to the U.S. Food and Drug Administration’s (FDA's) Center for Drug Evaluation and Research (CDER), in 2020, around 53 new molecular entities were approved.
Competitive Landscape:
Major players operating in the global advanced drug delivery systems market include Amgen Inc., Glaxosmithkline, Celgene Corporation, Boston Scientific, Astrazeneca, Astellas Pharma, 3M Company, Abbott Laboratories, Baxter International, and Bayer Healthcare, among others.
Recent Developments:
In March 2022, Corium, Inc. received U.S. Food and Drug Administration (FDA) approval for Corium's ADLARITY (donepezil transdermal system) as a treatment for patients with mild, moderate, or severe dementia of the Alzheimer's type.
In June 2021, Shilpa Medicare Ltd. launched an oral thin film formulation, a pediatric dose of paracetamol oral thin film, under the brand name Molshil. Shilpa's Paracetamol oral thin films are patent protected and are the first of their kind in the world. Shilpa has also received approval for Molshil oral thin films after sufficiently complying with bioequivalence requirements.
