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Rising Chronic Condition Prevalence Fuels Advanced Drug Delivery Systems Market Growth || Pfizer Inc., Johnson and Johnson Services Inc., Roche Holding AG, AbbVie Inc
Advanced Drug Delivery Systems Market
The Business Research Company's Advanced Drug Delivery Systems Global Market Report 2023 identifies the increasing prevalence of chronic conditions is the major driver for the advanced drug delivery systems market's growth in the forecast period. Chronic conditions are problems that last a year or longer, necessitating continuing medical care, restricting everyday activities, or both. Various risk behaviors, including tobacco use and exposure to secondhand smoke, poor nutrition, physical inactivity, and excessive alcohol use, cause chronic diseases. Advanced drug delivery systems allow targeted delivery of therapeutic agents to specific sites in the body affected by chronic conditions. They ensure the drug reaches the intended site of action, increasing its effectiveness and minimizing side effects. For instance, in May 2023, according to The United Nations (UN), a US-based intergovernmental organization to promote international cooperation and maintain international peace and security, Chronic diseases are responsible for seven out of 10 deaths in the US, killing more than 1.7 million Americans each year.
The global advanced drug delivery systems market is expected to grow from $240.97 billion in 2022 to $256.43 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The advanced drug delivery systems market is expected to reach $323.68 billion in 2027 at a CAGR of 6%.
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Major competitors in the advanced drug delivery systems market are Pfizer Inc., Johnson and Johnson Services Inc., Roche Holding AG, AbbVie Inc., Bayer AG, Novartis AG, F. Hoffmann-La Roche Ltd., AstraZeneca plc, Abbott Laboratories.
A key trend in the advanced drug delivery systems market includes advancements in technology. Major companies operating in the advanced drug delivery systems market are adopting new technologies to sustain their position in the market. For instance, in June 2023, Shilpa Medicare Limited, an India-based manufacturer and supplier of API and formulation, launched Molshil, the world's first oral thin film formulation of a pediatric dose of paracetamol. The new paracetamol formulation will have the benefits of being extremely palatable and easy to administer while also doing away with some of the disadvantages of the pediatric formulations.
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The advanced drug delivery systems market is segmented -
1) By Type: Oral Drug Delivery System, Injection-Based Drug Delivery System, Inhalation/Pulmonary Drug Delivery System, Transdermal Drug Delivery System, Transmucosal Drug Delivery System, Carrier-Based Drug Delivery System, Other Types
2) By Carrier Type: Liposomes, Nanoparticles, Microspheres, Monoclonal Antibodies, Other Carrier Types
3) By Technology: Prodrug, Implants And Intrauterine Devices, Targeted Drug Delivery, Polymeric Drug Delivery, Other Technologies
4) By Application: Cardiovascular Diseases, Oncology, Urology, Diabetes, CNS (Central Nervous System), Ophthalmology, Inflammatory Diseases, Infections, Other Applications
5) By End User: Hospitals, Specialized clinics, Clinical Research And Development Centers
6) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the advanced drug delivery systems market
The Business Research Company's "Global Advanced Drug Delivery Systems Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Advanced Drug Delivery Systems Market Include:
1. Executive Summary
2. Advanced Drug Delivery Systems Market Characteristic
3. Advanced Drug Delivery Systems Market Trends And Strategies
4. Advanced Drug Delivery Systems Market - Macro Economic Scenario
5. Advanced Drug Delivery Systems Market Size And Growth
……………
27. Advanced Drug Delivery Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Advanced Drug Delivery Systems Market
29. Advanced Drug Delivery Systems Market Future Outlook And Potential Analysis
30. Appendix
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