Controlled Release Drug Delivery Market Overview
Controlled release drug delivery can be defined as a form of dosage that helps to deliver drug or medication in a predetermined manner. It is a system that offers continuous delivery of drug or medication in predictable and reproducible kinetics throughout the course of gastrointestinal transit. It assists in drug release until it reaches the exact region of the GI tract. The global controlled release drug delivery market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 14.0%, surpassing a valuation of USD 70.15 billion during the forecast period (2018-2023).
Controlled release drug delivery system offers several benefits like lower dose requirement, improved stability of the drug, enhanced drug safety and efficacy, minimum side effects, improved patient compliance, and higher bioavailability. These benefits are influencing the adoption of these systems globally. This system also allows dose reduction, which minimizes the risk of overdose, especially in the aging population. Such factors are likely to provide a fillip to the market. The unpleasant taste of dysphagia or pediatric medication for aging population will elevate the scope of the market in the long run.
On the contrary, strict government policies and complex manufacturing process are some of the concerns likely to vitiate the market growth across the globe.
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September 2019: A team of researchers from the Indian Institute of Technology Guwahati has recently developed nanomaterials, which are derived from nature to deliver drugs to the human body in a controlled manner. The drug delivery system, which has been developed by the team can carry chemotherapy drugs directly to the cancer cells.
The top players operating in the controlled release drug delivery market include Coating Place, Inc.(US), Depomed, Inc. (the US), Alza Corporation (Johnson Johnson) (US), Corium International Inc.(US), SKY Pharmaceuticals Pvt. Ltd.(China), Pfizer Inc.(US), Biogen (US), AstraZeneca (US), Novartis (UK), GlaxoSmithKline (UK), Collegium Pharmaceutical (US), Allergan (Ireland), and others.
Controlled Release Drug Delivery Market Segmentation
The controlled release drug delivery market has been segmented on the basis of products, release mechanism, route of administration, and end users.
By products, the controlled release drug delivery market is segmented into needle-free injectors, metered-dose inhalers, nasal sprays, auto-injectors, nebulizers, transdermal patches, drug-eluting stents, infusion pumps, ocular implants, and sustained release.
The route of administration segment comprises injectable, oral, nasal, ocular, topical, and implantable. Of these, the oral route of administration segment is likely to garner the major share due to its frequent availability and usage. Moreover, better patient compliance, flexibility, and reduced dosing frequency are likely to contribute to the market growth in the segment. These factors, in combination with an affordable cost of oral controlled-release drug delivery system has resulted in the ease of market penetration globally.
By end users, the market constitutes of personal use, hospital and clinics, research centers, and others.
Controlled Release Drug Delivery Market Regional Analysis
Based on the region, the controlled release drug delivery market covers growth opportunities and latest trends across the Americas, Asia Pacific, Europe, and the Middle East Africa.
Considering the global scenario, the Americas is considered to command the largest market share, with North America expected to dominate the market in the coming years. The growth can be ascribed to the surging cases of several diseases like Alzheimer’s and gastrointestinal diseases. Rising research and development activities, advanced infrastructure in the pharmaceutical industry, and the existence of robust pharmaceutical companies in North America will encourage the market growth.
Europe has managed to seize the second-largest share in the global market due to the increased incidence of respiratory diseases and hypertension among individuals. The rising number of patients with chronic diseases like cancer, CPOD, and diabetes will further elevate the scope of the market in Europe.
Meanwhile, the Asia Pacific is estimated to register the fastest growth due to the ever-increasing geriatric population, which has resulted in an increased demand for controlled doses to minimize the toxicity level and side effects in the patients. Moreover, the rapid expansion identified in the Chinese and Indian pharmaceutical industry will propel the market growth in the region.
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