Targeted drug delivery market is estimated to be valued at USD 9.22 Bn in 2024, and is expected to exhibit a CAGR of 16.1% over the forecast period (2024-2031). Targeted drug delivery offers advantages such as minimal systemic side effects, reduction in dosage of drugs, and better efficacy of treatment. Furthermore, advancements in nanocarrier-mediated targeted drug delivery approaches are estimated to contribute to the market growth.
Market Dynamics:
The global targeted drug delivery market is primarily driven by the uptake of nanocarriers for targeted drug delivery and the expanding therapeutic application areas of targeted drug delivery systems. Nanocarriers possess tunable sizes and surface properties that allow encapsulation of drug molecules and aid in selectively targeting diseased sites. This enhances therapeutic efficacy and reduces side effects. Additionally, targeted drug delivery finds growing use in cancer diagnosis and treatment. Various nanocarrier formulations are being investigated for delivery of anti-cancer drugs specifically to tumor tissues. Such developments are expected to play a major role in oncology therapeutic development.
Increasing Prevalence of Chronic Diseases is Driving Growth in the Targeted Drug Delivery Market
Rising incidence of chronic diseases such as cancer, cardiovascular diseases, and neurological disorders have boosted the demand for more effective treatment options. Targeted drug delivery technologies allow for localized and sustained release of drugs at the site of disease, improving treatment outcomes while reducing unwanted systemic effects. Cancer remains one of the leading causes of mortality worldwide, prompting increased research into advanced therapeutic approaches like targeted drug carriers. Nanoparticle-based carriers can transport anti-cancer drugs directly to tumors, achieving higher intracellular drug concentration and lower toxicity.
Advancements in Nanotechnology and Biotechnology are Enabling New Targeted Delivery Approaches
Significant advancements in the fields of nanotechnology and biotechnology have enabled the development of novel targeted drug delivery systems. Nanoparticles, liposomes, dendrimers, polymeric micelles, and other nano-scale vehicles can be engineered to selectively target drugs to specific cell and tissue types. Biotechnology research has yielded insights into molecular biomarkers that can be exploited for active targeting. Antibodies, peptides, aptamers, and other ligands can be attached to drug carriers to facilitate receptor-mediated endocytosis into diseased cells. Continuous progress in fabrication techniques and molecular engineering is expanding the toolkit for designing increasingly sophisticated targeted delivery platforms.
High Cost of Specialty and Emergency Veterinary Care
One of the key challenges faced by the veterinary services market is the high cost of certain services like pet surgeries, cancer treatment, intensive care unit hospitalization, and emergency or after-hours care. Specialized procedures and equipment push up the costs significantly. While basic consultation and routine services may be affordable for most pet owners, critical, or specialized care requiring extensive treatment can burn a big hole in one's pocket. This deters some pet parents from opting for advanced medical care and acts as a restraint.
Regulatory Hurdles and High Development Costs Act as Restraints on Market Growth
While the scientific potential of targeted drug delivery is immense, translation to the clinic faces regulatory and economic challenges. Gaining Food and Drug Administration or European Medicine Agency approval for novel carrier systems involves extensive preclinical and clinical testing to demonstrate safety, efficacy, and manufacture quality. The research and development costs for new targeted delivery technologies are quite high. Each additional advancement, such as activity-based triggering or multi-functional capabilities, significantly increases complexity and regulatory risks. High development costs deter market entrance for small startups. Clinically evaluating these platforms also requires larger patient cohorts compared to conventional drugs due to complex pharmacokinetics. Overall regulatory risk and the substantial investment needed act as barriers limiting market adoption.
Opportunities in Gene Therapy and Neurological Disorder Treatments
Gene therapy is seen as one of the most promising applications of targeted drug delivery. Viral and non-viral gene carriers must efficiently and selectively deliver nucleic acids to specific cells and tissues. Overcoming issues like immunogenicity and transient gene expression could revolutionize the treatment of genetic disorders. Advanced targeted delivery platforms may provide solutions to current challenges holding back the gene therapy field. Another major opportunity lies in addressing neurological diseases like Alzheimer's, Parkinson's, and brain cancer. Crossing the blood-brain barrier remains a significant hurdle, making targeted nano-carriers attractive for improvements in central nervous system drug delivery. As research advances, understanding of the molecular underpinnings of these disorders and new opportunities will emerge for targeted therapeutic interventions.
Link: https://www.coherentmarketinsights.com/market-insight/targeted-drug-delivery-market-5003
Key Development
- On May 23, 2024, DelSiTech Ltd, a clinical-stage drug delivery and development company, announced that the company has entered into a Licensing Agreement with an undisclosed global pharmaceutical company. Under the terms of the agreement, DelSiTech Ltd grants an exclusive global license to DelSiTech's Silica Matrix based, controlled release technology for the development and commercialization of an undisclosed long-acting injectable drug product.
- On March 14, 2024, Evonik, a specialty chemicals company, announced that it had launched EUDRAGIT for targeted drug delivery
- In October 2023, Assistant Professor Mr. Jie Feng was awarded funding from the National Science Foundation to further his research efforts aimed at improving targeted drug delivery and controlled release of therapeutics with active lipid vesicles. Feng’s proposed project, “Unlocking the Potential of Active Lipid Vesicles for Directed Delivery and Controlled Release of Therapeutic Payloads,” will be funded by nearly USD 500 and is in collaboration with On Shun Pak of Santa Clara University.
- In March 2022, Eucure Biopharma, a subsidiary of Biocytogen, a biotechnological company, announced the first patient dosing for a phase I multi-regional clinical trials of YH002 (anti-OX40 monoclonal antibody) in combination with YH001 in Austria
Key Players: AbbVie Inc., Sanofi , Arrowhead Pharmaceuticals, Inc., Baxter International Inc., AstraZeneca , Boston Scientific Corporation, Depomed, Inc., Fraunhofer Gesellschaft Munchen, Janssen Global Services, LLC, Luye Pharma Group, Pfizer Inc., Quark Pharmaceuticals Inc., Rexahn Pharmaceuticals Inc., Savara Inc., Roche Holding AG, Suda Limited, Taiwan Liposome Company, Ltd., and Vectura Group PLC
