ADVANCED DRUG DELIVERY SYSTEMS MARKET ANALYSIS

Market Challenges And Opportunities

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 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.

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.

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.