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Controlled Release Drug Delivery Market Size, Share , Latest Trends, Key Players And Forecast To 2033
Controlled Release Drug Delivery Market Size
As per the report, the controlled release drug delivery market size has grown rapidly in recent years. It will grow from $59.2 billion in 2023 to $66.18 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The controlled release drug delivery market size is expected to see rapid growth in the next few years. It will grow to $105.06 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%.
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Controlled-Release Drug Delivery Market Surges As Chronic Diseases Become Global Health Priority
The rising prevalence of chronic diseases is expected to propel the growth of the controlled release drug delivery market. Chronic diseases are also known as noncommunicable diseases. It refers to conditions such as heart disease, cancer, and diabetes diseases lasting more than a year and requiring continuing medical care, limiting everyday activities, or both. Controlled-release drug delivery is crucial for treating chronic diseases. For patients with chronic illnesses that require years of treatment or those who reside in areas with limited resources and access to healthcare, drug delivery formulations that allow prolonged medication release are essential. For instance, in September 2022, according to report shared by the World Health Organization (WHO), a Switzerland-based health-specialized agency, every year, 41 million people die from chronic diseases, which accounts for 74 percent of all fatalities worldwide. Before the age of 70, 17 million individuals lose their lives to chronic illnesses. Moreover, 77 percent of deaths from chronic diseases occur in low- and middle-income nations. And these numbers are expected to rise in the future. Therefore, the rising prevalence of chronic diseases is driving the growth of the controlled release drug delivery market.
Evonik Industries Ag Unveils Groundbreaking Microparticle Technology, Udratec Soluflow, Revolutionizing Controlled-Release Drug Delivery
Technological advancement is a key trend gaining popularity in the controlled-release drug delivery market. Major companies operating in the controlled-release drug delivery market are adopting new technologies to sustain their position in the market. For instance, in March 2022, Evonik Industries AG, a Germany-based pharmaceutical company, launched UDRATEC SoluFlow. UDRATEC SoluFlow is a novel microparticle technology designed to improve the solubility of active medicinal components in oral medication formulations. This emulsion-based process technique overcomes solubility barriers that traditional production methods cannot. EUDRATEC SoluFlow adds to Evonik Health Care's range of oral drug delivery system solutions, which includes oral excipients like EUDRAGIT functional polymers, ready-to-fill functional capsules like EUDRACAPTM, and other technologies and services to improve medication performance.
The controlled release drug delivery market covered in this report is segmented -
1) By Technology: Wurster Technique, Coacervation, Micro Encapsulation, Implants, Transdermal, Targeted Delivery, Other Technologies
2) By Release Mechanism: Polymer Based Systems, Micro Reservoir Partition Controlled Drug Delivery Systems, Feedback Regulated Drug Delivery Systems, Activation-Modulated Drug Delivery Systems, Chemically Activated,
3) By Application: Metered Dose Inhalers, Injectable, Transdermal and Ocular Patches, Other Applications
4) By End User: Hospitals, Clinics, Peronal, Research, Other End Users
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Major companies operating in the controlled release drug delivery market report are Johnson & Johnson Services Inc., Merck & Co. Inc., Alkermes plc, Coating Place Inc., Corium International Inc., Depomed Inc., Pfizer Inc., Aradigm Corporation, Capsugel LLC, GlaxoSmithKline plc, Bayer Healthcare LLC, Collegium Pharmaceuticals Inc., GE HealthCare Technologies Inc., Adare Pharmaceuticals Inc., Allergan plc, Novartis AG, Lonza Group AG, Colorcon Inc., SKY Pharmaceuticals Pvt. Ltd., AstraZeneca plc, Biogen Inc., Orbis Biosciences Inc., Alza Corporation, MicroCHIPS Inc., Endo International plc, Heron Therapeutics Inc., Intellipharmaceutics International Inc., Ipsen Biopharmaceuticals Inc., Luye Pharma Group Ltd., Medtronic plc, Nektar Therapeutics, Novo Nordisk A/S, Ocular Therapeutix Inc., Pacira BioSciences Inc., Progenity Inc., Sanofi S.A., Teva Pharmaceutical Industries Ltd., Titan Pharmaceuticals Inc., Vectura Group plc, West Pharmaceutical Services Inc., Zosano Pharma Corporation, Zynerba Pharmaceuticals Inc. .
Contents of the report:
1. Executive Summary
2. Controlled Release Drug Delivery Market Report Structure
3. Controlled Release Drug Delivery Market Trends And Strategies
4. Controlled Release Drug Delivery Market - Macro Economic Scenario
5. Controlled Release Drug Delivery Market Size And Growth
…..
27. Controlled Release Drug Delivery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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