According to a report recently published by Future Market Insights, the global Gastro-retentive Drug Delivery Systems market size is projected to reach US$ 14 billion by 2023, and is expected to grow at a compound annual growth rate of 10.1% from 2023 to 2033, with a market value of US$24.8 billion by the end of 2033.
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The growth of the market can be attributed to the investments made by large pharmaceutical companies to enhance Gastro-retentive Drug Delivery Systems, which have led to an increase in bioavailability and a decrease in required doses, as well as an increase in the demand for medications. The efficacy of Gastro-retentive Drug Delivery Systems in treating stomach disorders such as peptic ulcer, gastric ulcer, and H. Pylori infection, which can cause gastritis and gastric cancer, also contributes to the market growth.
Recent technological advancements have overcome physical obstacles such as unpredictable stomach emptying periods and short gastric residency times, making controlled oral medication administration systems more effective. This has led to an increase in patient preference by extending the time available for medicine absorption.
North America is expected to be the largest revenue contributor to the market, with a projected market value of US$ 10 billion. The region’s market expansion is expected to be driven by the introduction of improved gastro-retentive medication delivery technology and the implementation of novel treatment techniques in healthcare. The demand for these devices is expected to increase as the prevalence of gastrointestinal disorders grows in the United States and Canada, and rising research and development spending in emerging markets is expected to further drive market expansion.
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Competitive Analysis
Manufacturers will benefit from proprietary benefits such as industry research financing and product development agreements, which will help them contribute to the development of effective cancer diagnosis technologies. Obtaining patents and government clearances for new technology will also continue to be a key growth strategy. The key players in the market include Ranbaxy, F. Hoffmann La Roche, Pharmacia, GlaxoSmithKline, Lupin, Pfizer, Depomed, Galanix, Sun Pharma, and Alcon, Inc.
Few of the recent developments of key Gastro-retentive Drug Delivery Systems providers are as follows:
- In 2020, Cadila Pharmaceuticals launched Esomeprazole tablets which will be used in treatment of hyperacidity and drug induced gastritis.
- In 2020, Xiromed LLC launched 20mg Omperazole delayed release capsules. Omeprazole is cost effective generic product which can be used in treatment of gastroesophageal reflux disease and healing of erosive esophagitis.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Gastro-retentive Drug Delivery Systems Market, presenting historical market data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
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Market Segments Covered in Gastro-retentive Drug Delivery Systems Industry Analysis
By Type:
- High Density System
- Expandable Drug Delivery System
- Bioadhesive Drug Delivery System
- Floating Drug Delivery System
- Others
By Dosage Form:
- Tablets
- Liquid
- Microspheres
- Capsule
- Others
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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