The Drug Delivery Technology Market is poised for a phenomenal surge, driven by the urgent need for innovative ways to get medication to patients effectively. A recent analysis predicts a staggering Compound Annual Growth Rate (CAGR) of 12.6% from 2023 to 2033. This translates to a projected market value of a whopping US$143.5 billion by 2033, a massive jump from the US$43.9 billion recorded in 2023. Get ready for exciting advancements in drug delivery technology!
The expected increase in the industry’s value is related to the growing use of cutting-edge technology meant to improve the efficient delivery of drugs to specific places. The seamless integration of modern drug delivery techniques is transforming the healthcare environment, resulting in a paradigm change in treatment efficacy and patient outcomes.
Oral Solid Dosage Manufacturers in North America Enabled to Achieve Significant Bioavailability
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FMI’s report estimates North America to remain the largest market for oral controlled release drug delivery technology, with sales estimated to reach nearly US$ 20,000 Mn by 2027-end. Being the preferred route of drug administration by physicians, demand for oral controlled-release drug delivery technology has been witnessing a surge by end-users in North America. In addition, recent advancements in drug delivery have enabled oral solid dosage manufacturers in North America to achieve significant bioavailability through the adoption of novel drug delivery platforms. This is further expected to drive demand for oral controlled-release drug delivery technology in the region
New Chemical Entities Resulting from High Throughput Screening to Drive Market Growth in Western Europe
Western Europe will register the fastest expansion in the global oral controlled-release drug delivery technology market. This growth is primarily attributed to a slew of new chemical entities resulting from high throughput screening, which have low solubility and bioavailability. This has further led manufacturers in this region to invest in drug delivery methods with better clinical outcomes. Owing to cost-sensitiveness in Western European countries, technologies enhancing bioavailability will remain the preferred drug delivery system. These factors are expected to drive the growth of the market in this region.
However, most of the pharmaceutical companies in Western Europe have complex supply chains, which are either under-utilized or inefficient. The complexity of the supply chain is attributed to low flexibility and cost-effectiveness. In addition, the shortening of effective patent life along with patent cliffs is a major challenge for oral solid dosage forms in this region. Factors such as these are estimated to hinder the growth of the market in Western Europe.
Dissolution-Controlled Release System to Remain Sought-After among Drug Release Technologies in the Market
By drug release technology, a dissolution-controlled release system will remain sought-after in the market, followed by a diffusion-controlled release system. The majority of generic formulations available are in tablet dosage form and follow a dissolution-controlled release mechanism. Revenues from sales of dissolution-controlled release systems will surpass US$ 10,000 Mn in 2017. Demand for hydrodynamically-balanced drug delivery systems will remain sluggish in the market.
Solid dosage forms of oral controlled-release drug delivery technology are expected to remain dominant in the market, expanding at a high single-digit CAGR through 2027. Sales of semisolid/liquid/suspensions dosage form segment will register a comparatively lower CAGR than that of solid dosage forms in the market through 2027.
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Key Drug Delivery Technology Market players identified in FMI’s report include
- AstraZeneca Plc.,
- Bristol-Myers Squibb Company,
- Sun Pharmaceuticals Industries Ltd,
- Abbott Laboratories,
- Merck & Co. Inc.,
- Novartis AG,
- Pfizer Inc.,
- Mylan N.V.,
- Sanofi,
- Hoffman-La-Roche Ltd.,
- Johnson & Johnson Services, Inc.,
- Vectura Group plc.,
- GlaxoSmithKline plc.
Drug Delivery Technology Market Taxonomy
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEX
- Japan
- META
By Drug Release System
- Diffusion Controlled Release System
- Dissolution Controlled Release System
- Osmotically Controlled Release System
- Dissolution & Diffusion Controlled Release System
- Ion Exchange Resins Controlled Release
- Hydro-dynamically Balanced Drug Delivery System
- Others
By Dosage Form
- Solid Dosage Forms
- Semisolid
- Liquid/Suspension
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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