The global oral controlled-release drug delivery technology industry is on the cusp of a significant boom, projected to reach a staggering US$68.4 billion by 2032, according to a recent market analysis. This remarkable expansion translates to a robust Compound Annual Growth Rate (CAGR) of 7.2% over the forecast period.
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Several key factors are fueling this exciting market growth:
- Rising Chronic Disease Burden: The increasing prevalence of chronic diseases worldwide is driving demand for innovative drug delivery solutions. Oral controlled-release technologies offer a convenient and effective way to manage these conditions.
- Patient Preference for Oral Delivery: Compared to other administration methods, oral drug delivery offers significant advantages for patients. These include ease of use, improved cost-effectiveness, and ultimately, better medication adherence.
Market Outlook: Potential and Opportunities
The burgeoning oral controlled release drug delivery technology market presents exciting opportunities for pharmaceutical companies, research institutions, and investors. Continuous advancements in technology and the development of novel drug delivery systems are expected to further fuel market growth. Additionally, the increasing focus on personalized medicine and targeted therapies is likely to create further demand for specialized controlled release solutions.
In conclusion, the oral controlled release drug delivery technology market is poised for remarkable growth, driven by the rising burden of chronic diseases and the inherent benefits of oral drug delivery. With solid dosage forms leading the charge and advancements in technology paving the way, this market holds immense potential for stakeholders across the healthcare spectrum.
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Dissolution-Controlled Release System to Remain Sought-After among Drug Release Technologies in the Market:
By drug release technology, dissolution-controlled release system will remain sought-after in the market, followed by diffusion-controlled release system. Majority of generic formulations available are in tablet dosage form and follow dissolution-controlled release mechanism. Revenues from sales of dissolution-controlled release system will surpass US$ 10,000 Million in 2017. Demand for hydrodynamically-balanced drug delivery system 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.
Global Oral Controlled-Release Drug Delivery Industry Key Market :
- AstraZeneca Plc.
- Bristol-Myers Squibb Company
- Sun Pharmaceuticals Industries Ltd
- Abbott Laboratories
- Merck & Co. Inc.
- Novartis AG
- Pfizer Inc.
- Mylan N.V.
- Sanofi
- F. Hoffman-La-Roche Ltd.
- Johnson & Johnson Services, Inc.
- Vectura Group plc.
- GlaxoSmithKline plc.
Market Taxonomy:
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- MEA
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
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