Advanced Drug Delivery Systems Market Trends & Opportunities 2024-2033

The Business Research Company recently released a comprehensive report on the Global Advanced Drug Delivery Systems Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The advanced drug delivery systems market size has grown strongly in recent years. It will grow from $256.43 billion in 2023 to $272.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to improved patient compliance, drug patent expirations, personalized medicine, chronic disease prevalence, biologics and large molecule drugs.

The advanced drug delivery systems market size is expected to see strong growth in the next few years. It will grow to $348.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to patient-friendly routes of administration, focus on rare diseases, digital health integration, patient-centric drug development, telehealth influence, gene therapy and rna therapeutics, exosome-based drug delivery, remote monitoring devices. Major trends in the forecast period include nanotechnology advancements, smart drug delivery systems, 3d printing in drug formulations, integration of artificial intelligence, sustainable drug delivery.

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Market Drivers and Trends:

The increasing prevalence of chronic conditions is expected to propel the growth of the advanced drug delivery systems market going forward. 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. Therefore, the increasing prevalence of chronic conditions is driving the growth of the advanced drug delivery systems market.

Advancements in technology are a key trend gaining popularity in the advanced drug delivery systems market. 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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Major Key Players of the Market:

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, GlaxoSmithKline plc, 3M Company, Medtronic plc, Eli Lilly and Company, Boehringer Ingelheim GmbH, Amgen Inc., Merck Group, Becton Dickinson and Company, Baxter International Inc., Teva Pharmaceutical Industries Ltd., Sanofi S.A., Boston Scientific Corporation, Mylan N.V., Astellas Pharma Inc., Catalent Inc., Nipro Corporation, AptarGroup Inc., West Pharmaceutical Services Inc., Gerresheimer AG, Insulet Corporation

Advanced Drug Delivery Systems Market 2024 Key Insights:

• The advanced drug delivery systems market size is expected to see strong growth in the next few years. It will grow to $348.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
• The Surge In Chronic Conditions Fuels Growth Of The Advanced Drug Delivery Systems Market
• Pioneering Advanced Drug Delivery With Thin Film Formulation For Pediatric Paracetamol
• North America was the largest region in the advanced drug delivery systems market in 2023

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