Controlled Release Drug Delivery Market to Witness Comprehensive Growth by 2026
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Controlled release drug delivery system has many benefits, such as, improved stability of drug, lower dose requirement, minimum side effects, improved drug safety and efficacy, enhanced patient compliance, and higher bioavailability. Rising awareness regarding the benefits associated with controlled release drug delivery systems over conventional drug delivery system are providing a fillip to the market. Furthermore, controlled release drug delivery system enables dose reduction which reduces the risk of overdose in elderly people. Unpleasant taste of pediatric medication or dysphagia for geriatric people further boosts the adoption of controlled release drug delivery system. However, complicated manufacturing process and stringent government regulations are likely to hamper the growth of the controlled release drug delivery market during forecast period.
The global controlled release drug delivery market can be segmented based on technology, release mechanism, application, and geography. In terms of technology, the market can be divided into wurster technique, micro encapsulation, coacervation, transdermal, targeted delivery, and others. The targeted delivery segment is expected to hold significant share of the market as a large number of market participants has strong portfolio in the technology.
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Based on release mechanism, the controlled release drug delivery market can be segregated into micro reservoir feedback regulated, activation modulated, partition controlled, chemically activated systems, and polymer matrix systems. Based on application, the market can be classified into metered dose inhalers, injectables, oral controlled, drug eluting stents, transdermal, infusion pumps, and ocular patches. The oral controlled segment is expected to hold leading share of the global makret due to frequent use and wide availability of oral controlled release drug delivery system.
Based on geography, the global controlled release drug delivery market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global controlled release drug delivery market, followed by Europe. Key drivers of the market in these regions are rising research & development expenditure, presence of key market players, rising number of NDA and ANDA applications, growing patient pool with chronic diseases such as diabetes requiring prolong treatment, and growing demand for controlled relased medication.
The controlled release drug delivery market in Asia Pacific is expected to grow rapidly during the forecast period due to high growth in population, growing geriatric population, and rapidly expanding pharmaceutical business in the region. Morover, increasing focus of key players for business expansion due to low manufacturing cost propels the growth of the controlled release drug delivery market in Asia Pacific.
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Major players operating in the global controlled release drug delivery market include Merck and Co., Inc., Johnson and Johnson, Alkermes plc, Coating Place, Inc., Aradigm Corporation, Corium International, Inc., Depomed, Inc., Orbis Biosciences, Inc. Pfizer, Inc, and Capsugel.
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