The global hydrogel-based drug delivery system market is expected to experience significant growth in the coming years. Factors driving this growth include the increasing prevalence of chronic diseases such as cancer and diabetes, the rising demand for targeted drug delivery systems, and advancements in hydrogel technology. Hydrogel-based drug delivery systems offer numerous advantages such as sustained release of drugs, reduced toxicity, and improved efficacy. Moreover, increasing investments in research and development activities and the growing adoption of hydrogel-based drug delivery systems in various therapeutic applications are also contributing to market growth. However, the high cost of hydrogel-based drug delivery systems and the stringent regulatory requirements for their approval may hinder market growth. Overall, the hydrogel-based drug delivery system market is expected to witness significant growth in the coming years, driven by advancements in technology and growing demand for targeted drug delivery.
The Global Hydrogel-Based Drug Delivery System Market is estimated to be valued at US$ 4,785.4 million in 2022 and is expected to exhibit a CAGR of 6.9% during the forecast period (2022-2030).
Prominent Companies in the Hydrogel Based Drug Delivery System Industry:
1. Johnson & Johnson
Founded in 1886, Johnson & Johnson is an American multinational corporation that develops, manufactures, and sells healthcare products, medical devices, and pharmaceuticals. The company is headquartered in New Brunswick, New Jersey, and operates in over 60 countries worldwide. In January 2022, Johnson & Johnson announced a partnership with Affinivax to develop a next-generation vaccine using Affinivax's proprietary MAPS (Multiple Antigen Presenting System) platform and J&J's AdVac vaccine platform. The MAPS platform uses a hydrogel-based delivery system to improve the immune response to the vaccine.
2. Bausch & Lomb
Bausch & Lomb is a Canadian-based eye health products company founded in 1853. The company produces and sells contact lenses, lens care products, pharmaceuticals, and surgical instruments. Bausch & Lomb is headquartered in Laval, Quebec, and operates in over 50 countries worldwide. In December 2021, Bausch & Lomb announced the launch of their Synergi hydrogel-based contact lenses, which are designed to provide comfort and moisture for up to 16 hours of wear.
3. Ocular Therapeutix, Inc
Founded in 2006, Ocular Therapeutix, Inc is an American biopharmaceutical company that develops and commercializes innovative therapies for ocular diseases and conditions. The company is headquartered in Bedford, Massachusetts, and operates in the United States. In November 2021, Ocular Therapeutix announced positive topline results from their Phase 1 study of OTX-TIC, a hydrogel-based implant designed to deliver a sustained release of dexamethasone for the treatment of ocular inflammation and pain.
4. Tolmar Pharmaceuticals, Inc
Tolmar Pharmaceuticals, Inc is an American pharmaceutical company founded in 2006 that develops and manufactures generic and specialty pharmaceuticals. The company is headquartered in Fort Collins, Colorado, and operates in the United States. In October 2021, Tolmar Pharmaceuticals announced the launch of their Lidocaine Hydrogel, a hydrogel-based topical anesthetic designed to provide rapid pain relief for patients undergoing certain dermatological procedures.
5. Ashland
Ashland is an American chemical company founded in 1924 that specializes in the production of specialty chemicals, adhesives, and coatings. The company is headquartered in Covington, Kentucky, and operates in over 100 countries worldwide.
6. Pfizer, Inc
Pfizer, Inc is an American multinational pharmaceutical company founded in 1849 that develops and produces medicines and vaccines for a wide range of therapeutic areas. The company is headquartered in New York City, New York, and operates in over 150 countries worldwide. In August 2021, Pfizer announced positive results from their Phase 1b study of a hydrogel-based vaccine for COVID-19. The vaccine uses a novel delivery system to improve the immune response to the vaccine.
7. Teva Pharmaceutical Industries Ltd
Teva Pharmaceutical Industries Ltd is an Israeli multinational pharmaceutical company founded in 1901 that develops and produces generic and specialty pharmaceuticals. The company is headquartered in Petah Tikva, Israel, and operates in over 60 countries worldwide.
8. Micropore Technologies
Micropore Technologies is a British-based biotech company founded in 2000 that specializes in the development of novel drug delivery systems and separation technologies. The company is headquartered in Newcastle upon Tyne, United Kingdom, and operates in Europe, North America, and Asia. In June 2021, Micropore Technologies announced the launch of their Smart Bandage platform, which uses a hydrogel-based delivery system to provide targeted drug delivery for wound healing and pain relief.
9. Neurelis, Inc
Neurelis, Inc is an American pharmaceutical company founded in 2011 that develops and commercializes innovative therapies for epilepsy and other neurological disorders. The company is headquartered in San Diego, California, and operates in the United States.
10. ProLynx Inc
ProLynx Inc is an American biotech company founded in 2010 that specializes in the development of novel drug delivery systems for biologics and small molecules. The company is headquartered in San Francisco, California, and operates in the United States.
*Definition- A hydrogel-based drug delivery system is a type of drug delivery technology that uses hydrogels, which are water-swollen polymer networks, to deliver drugs to specific areas of the body in a controlled manner.
