Hydrogel-Based Drug Delivery System Market is Estimated to Witness High Growth, Owing to Rising Adoption of Alternative Modes of Delivery and Increasing Investments in R&D
Hydrogel-based drug delivery system market is estimated to be valued at USD 7.95 Bn in 2024, exhibiting a CAGR of 6.6% over the forecast period (2024-2031). The market is witnessing high growth owing to rising adoption of alternative modes of drug delivery and increasing R&D investment for developing advanced hydrogel formulations. Furthermore, growing demand for personalized medicines is also contributing to the growth of the market.
Market Dynamics:
Rising adoption of alternative modes of drug delivery: Hydrogels offer several advantages over conventional drug delivery methods as they can encapsulate and release drugs in a controlled manner. They mimic the extracellular matrix and facilitate cellular infiltration. Hence, hydrogels are increasingly being adopted as an alternative mode of delivery for various drugs.
Increasing investment in R&D: Major players in the market are investing heavily in R&D to develop advanced hydrogel formulations with customization abilities. Startups are also entering the space and launching innovative drug delivery systems. This has led to new product launches and widened the application scope of hydrogel-based delivery systems. The growing R&D expenditure on hydrogels is expected to positively impact the market growth over the forecast period.
Increasing Prevalence of Chronic Diseases
The hydrogel-based drug delivery system market is being driven by the increasing prevalence of chronic diseases globally. Hydrogel systems offer targeted and sustained drug release over extended periods of time, which makes them highly suitable for the treatment of chronic diseases that require long-term therapy. The growing chronic disease burden is prompting more research and development into advanced drug delivery technologies like hydrogels.
Advantages over Conventional Drug Delivery Methods
Compared to traditional drug delivery methods, hydrogel systems provide better patient compliance and therapeutic efficacy due to their ability to deliver drugs in a controlled and localized manner. Hydrogels protect drugs from degradation and help maintain effective drug concentrations at target sites for prolonged times. They also minimize drug toxicity by preventing burst release. Owing to these advantages, hydrogel systems are increasingly preferred over oral and injectable formats for various therapeutic applications. The superior characteristics of hydrogel delivery is a key factor fueling their uptake in the healthcare sector.
High Production Costs
The production costs associated with hydrogel-based drug delivery systems are considerably higher than conventional delivery options due to the complex manufacturing processes involved. Developing hydrogels requires extensive research and testing of polymer compositions, crosslinking methods, drug loading/release kinetics, and biocompatibility characteristics. The costs of setting up facilities, procuring raw materials, and ensuring sterility further contribute to making hydrogel products expensive. This price factor may limit widespread adoption, especially in price-sensitive markets.
Regulatory Compliance Issues
Hydrogels used for pharmaceutical and medical applications are strictly regulated and need to undergo comprehensive preclinical and clinical evaluation for safety and efficacy. Getting regulatory approval for a novel hydrogel system is a lengthy, expensive process. Moreover, any changes to the polymer composition or manufacturing procedures may require additional approvals. The rigorous compliance procedures increase investment risks and project timelines for market players. Complying with updated regulations also poses a challenge. These regulatory bottlenecks pose a restraint on the growth trajectory of the hydrogel-based drug delivery system market.
Application in Tissue Engineering
Tissue engineering is regarded as one of the most promising opportunities for hydrogels. Hydrogels mimic the extracellular matrix and can be engineered to support cell growth, proliferation, and differentiation. Various research studies such as Hydrogel Scaffolds for Wound Healing, are exploring the potential of hydrogel scaffolds paired with cells/growth factors for applications like wound healing, bone/cartilage regeneration, and 3D bioprinting of tissues/organs. As tissue engineering technologies evolve, they are likely to propel demand for tailored hydrogel biomaterials.
Expanding Therapeutic Scope
While traditional usage of hydrogels has been mainly focused on drug delivery, increasing attention is being paid to their diagnostic and imaging applications as well. Functionalized hydrogels are under investigation for biosensing, theranostics, and as contrast agents. Their tunable physico-chemical properties allow encapsulating a wide variety of active ingredients other than drugs too, including nucleic acids, proteins, and nanoparticles. This facilitates exploring alternative therapeutic areas for hydrogel intervention beyond chronic diseases. With continued research, hydrogels could be adopted across newer clinical verticals over the coming years.
Key Developments:
- In November 2023, Stanford University, a private research university in California, U.S., announced that it had developed a novel hydrogel drug delivery system that transforms daily or weekly injections of diabetes and weight control drugs like Ozempic, Mounjaro, Trulicity, Victoza, and others to just once every four months
Key Player:
Ocular Therapeutix, Inc., Medtronic, Ferring B.V., Pfizer, Inc., Teva Pharmaceutical Industries Ltd., ProLynx Inc., Neurelis, Inc., Micropore Technologies, and Bausch Health Companies Inc.
