Advanced Drug Delivery Systems Market is Estimated to Witness High Growth Owing to the High Prevalence of Chronic Diseases and Growing Focus on Specialty Drugs
The advanced drug delivery systems market is estimated to be valued at USD 254.44 Bn in 2024 and exhibit a CAGR of 5.7% over the forecast period 2024-2031. Advancements in materials science and manufacturing techniques have enabled the development of novel drug delivery mechanisms that can efficiently transport pharmaceutical actives into the body.
Market Dynamics:
The growth of the advanced drug delivery systems market is driven by the high prevalence of chronic diseases globally as well as the growing focus on specialty drugs for treatment of rare conditions. According to estimates by the World Health Organization (WHO), published in 2023, chronic diseases accounted for over 70% of all deaths globally in 2020. This has significantly driven the demand for advanced drug delivery technologies that can efficiently deliver drugs over long periods for better management of chronic conditions. Furthermore, the introduction of specialty drugs for orphan diseases has also fueled research and development of novel delivery systems such targeted drug delivery and controlled release formulations. Nanocarrier-based drug delivery using liposomes and polymeric nanoparticle are gaining traction due to advantages like enhanced bioavailability, passive tumor targeting ability, and reduced dosing frequency.
Advancing targeted drug delivery for better patient outcomes is a key driver
Advanced drug delivery systems allow for targeted drug delivery and help improve patient outcomes. These systems make it possible to deliver drugs directly to the site of action in the body through various routes like oral, injectable, inhalation etc. This targeted delivery helps improve efficacy of drugs by ensuring higher concentration is achieved at target sites while reducing systemic exposure and side effects. Many advanced technologies like liquid crystals, liposomes, dendrimers, microspheres and others offer novel ways of encapsulating drugs and targeting their delivery which is driving their adoption.
Growing prevalence of chronic diseases is significantly boosting demand
Chronic diseases like cancer, diabetes, cardiovascular diseases, and others have high prevalence globally. Advanced drug delivery offers ways to better manage these diseases through improved patient compliance, targeting, and sustained release of drugs. For example, controlled release injectable helps manage blood glucose levels better in diabetes. Similarly, targeted nanoparticles help improve efficacy of cancer therapies. The growing chronic disease burden globally is a key factor augmenting demand for advanced drug delivery to enhance treatment outcomes.
High research costs pose significant restraint
Developing new advanced drug delivery technologies requires substantial investments in R&D. Characterizing novel formulations, conducting extensive preclinical and clinical testing to prove safety and efficacy increases costs significantly. High costs of setting up manufacturing facilities that can produce advanced drug delivery systems commercially within regulatory standards also poses challenges. The extensive research costs associated with new advanced delivery technologies limit their widespread adoption and commercial success posing a major restraint.
Regulatory uncertainties can delay market approvals
Regulatory policies and guidelines for approval of novel drug delivery devices may not always be well-defined. Demonstrating novel mechanism of action and non-clinical characterization of new drug-device combinations or other advanced technologies to regulatory agencies is complex. This regulatory uncertainty and lack of well-established approval pathways can introduce delays in gaining market approval. As these advanced technologies have potential for significantly improved outcomes, any regulatory delays pose restraint on their timely market availability and uptake.
Opportunity for targeted co-delivery systems
Combination or co-delivery of multiple drugs offers synergistic effects in diseases like cancer. Advanced drug delivery systems that can encapsulate and target co-delivery of multiple drugs to organs or tumors have significant clinical and commercial potential. Though development of such co-delivery systems is complex, it presents a major market opportunity.
Growing geriatric population drives demand for better compliance technologies
Elderly patients have poorer compliance to complex medication regimens. Advanced drug delivery systems offering innovations like single-dose injectables, transdermal patches, implantable, etc. help improve medication adherence in geriatric population segments with chronic diseases. The rapidly growing elderly demography worldwide provides significant opportunities for compliance-enhancing advanced drug delivery technologies in the years to come.
Link: https://www.coherentmarketinsights.com/market-insight/advanced-drug-delivery-systems-market-5243
Key Developments
- On January 2, 2024, Starton Therapeutics Inc., a biotechnology company, announced that it had launched STARSILON, a novel proprietary transdermal patch delivery platform. This innovative technology potentially expands the range of active pharmaceutical ingredients that can be delivered transdermally. It employs a unique approach to maintain concentration gradients, enabling higher drug delivery rates and sustained therapeutic effects for challenging formulations.
- In September 2023, the Advanced Research Projects Agency for Health (ARPA-H), an agency within the Department of Health and Human Services in the U.S., launched a new program aimed at developing technologies for real-time drug delivery and disease tracking to enhance patient self-care. This initiative, known as Resilient Extended Automatic Cell Therapies (REACT), seeks to create systems that automatically administer treatments and monitor health conditions from within the body.
- In September 2022, Novo Nordisk A/S, a pharmaceutical company, and Microsoft, a software company, collaborated to accelerate drug discovery and development using big data and artificial intelligence (AI). Novo Nordisk and Microsoft have already pinpointed the first two use cases for the AI models that they’ll develop together.
Key Players
Baxter, 3M, Abbott, Dätwyler Holding Inc., Evonik, Astrazeneca, Novo Nordisk A/S, Corium Innovations, Inc., PolyActiva, Teleflex Incorporated, Elixir Medical, B. Braun SE, Nemera, Epion Therapeutics, Inc., Terumo Corporation, and Flowonix Medical Inc
