Long Acting Drug Delivery Market Trend Report 2022-2031 by Top Area - Neurology, Oncology, Cardiovascular, Gastric, Ophthalmology

The Long Acting Drug Delivery Market is slated to witness exponentiation going forward. The IoMT (Internet-of-Medical-Things) is already transforming every walk of life, including healthcare. Healthcare IT has let both - patients and doctors carry/download information about each other anywhere and anytime through their smartphones/tabs. In other words, more connectivity translates to better access to data, thereby rendering better healthcare for patients. This would be the future of the healthcare vertical in the upcoming period.

According to the latest research by PMR, long acting drug delivery systems are set to witness a steady-paced growth of CAGR 6.4% during the year 2021-2031.

Long acting drug delivery systems involve slow absorption of a drug containing active pharmaceutical ingredients, which are released into the system over subsequent time. The role of long acting drug delivery systems is clinically and medically beneficial for the treatment of chronic diseases and chronic pain, as well as certain neurological disorders.

Long acting drug delivery systems include injectables, implants, microarrays or micro needle patches and broadly neutralizing monoclonal antibodies. The demand of long acting drug delivery systems is largely based on their high efficiency and targeted method of drug delivery.

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The long acting drug delivery industry is expected to witness a rise in demand over the forecast period owing to the increasing technological advancements in clinical and pharmaceutical research globally.

The long acting drug delivery systems, such as implants and injectables are responsible for a controlled delivery of API in the patient's body. This is a major driving factor for the adoption of long acting drug delivery systems, as they reduce the burden of compliance on the patients, as compared to frequent dosing associated with traditional pills or injections.

The long acting drug delivery also reduces the metabolic degradation of the active pharmaceutical products by delivering targeted drug dosage directly into the environment or the bloodstream. The efficiency of such systems is thus responsible for driving the growth of long acting drug delivery systems worldwide.

Apart from great therapeutic effects of long acting drug delivery, the main augmentative factor in this industry is the increasing value of reformulated active pharmaceutical ingredients. The key players in the industry focus on patented formulations with specified dosage forms for the therapeutic treatment of several chronic diseases.

The increasing revenue as well as a unique stance in the market over the other players has led to intensive research through competition. Companies benefit from novel formulations because of their high revenue potential. This is set to augment the growth and development of long acting drug delivery systems over the forecast period.

The region of North America is expected to grow pose a dominant stance over the forecast period in terms of revenue share of long acting drug delivery systems. The factors aiding this growth are the presence of high profile, key players in the region, such as Lubrizol Life Science in the U.S., and innovation and development of new drug formulations.

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Additionally, many companies in this region are involved in strategic partnerships for enhancement of their product portfolios through research and development activities. For instance, in June 2021, ViiV Healthcare and Halozyme Therapeutics entered a global partnership and licence agreement to leverage the latter's ENHANZE drug delivery technology to develop 'ultra long-acting' drugs for human immunodeficiency virus (HIV).

The European region is expected to witness an increasing demand for long acting drug delivery systems. This is owed by the rising adoption of studies assessing the efficiency of these systems for their therapeutic effects.

For instance, long acting drug delivery implants, such as the thermoplastic polyurethanes (TPU), is used in an approved vaginal ring in Europe. It offers high levels of customization and control over drug release, creating possibilities for more efficient vaginal ring and implant designs.

The key companies operating in manufacturing and supply of long acting drug delivery systems are,

ViiV Healthcare
Halozyme Therapeutics
Lubrizol Life Science
Celanese Corporation
Kashiv BioSciences Inc.
4P Therapeutics
Ipsen
Midatech Pharma
Re-Vana Therapeutics
Zordera
Creative Biolabs.

Key Segments

By Therapies

Device
Implant
Vaginal rings
Microarray patch
Gastric resident device
Parenteral Injections
Monoclonal antibody
Polymer microsphere
In-situ forming gel
Oil depot
Aqueous dispersion
By Therapeutic Area

Neurology
Oncology
Cardiovascular
Gastric
Ophthalmology
Others
By Distribution Channel

Hospital Pharmacies
Institutional Sales
Retail Sales
Clinical Research Institutes
Online Distribution Channels

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This release was published on openPR.