What’s The Growth Forecast For Gastroretentive Drug Delivery Systems Outsourcing Market Through 2024-2033?
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Strong Market Growth in Recent Years
- Market Size Expansion: The gastroretentive drug delivery systems outsourcing market has experienced significant growth, expanding from $1.29 billion in 2023 to $1.39 billion in 2024 at a CAGR of 7.7%.
- Drivers of Growth: This surge is driven by the rising incidence of stomach and small intestine disorders, an increase in drug delivery systems, the growing prevalence of gastric cancer, and government initiatives promoting healthcare advancements.
Future Market Outlook: Continued Expansion Expected
- Forecast Growth: The market is poised to grow further, reaching $1.89 billion by 2028 at a CAGR of 8.0%.
- Key Growth Factors: Growth will be fueled by an increase in ambulatory centers, a heightened focus on patient compliance and convenience, and the rising prevalence of chronic diseases. The aging population and advances in personalized medicine are also expected to drive demand.
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Rising Prevalence of Gastrointestinal Disorders as a Major Growth Driver
- Gastrointestinal Disorders: A significant factor driving the market is the rising prevalence of gastrointestinal disorders, which include a range of diseases affecting the digestive tract.
- Outsourcing Solutions: Outsourcing gastroretentive drug delivery systems allows pharmaceutical companies to leverage expertise in addressing the growing burden of these disorders, thereby improving patient outcomes.
- Case Example: According to the International Foundation for Gastrointestinal Disorders (IFFGD), 5–10% of the global population and 25–45 million people in the U.S. have Irritable Bowel Syndrome (IBS), a common gastrointestinal disorder. This highlights the critical need for effective drug delivery solutions.
Innovations and Trends Shaping the Market
- Advancements in Technology: The market is witnessing innovations in polymer science, formulation technologies, and bioadhesive systems. Novel polymers and drug release modifiers are also driving the development of advanced gastroretentive dosage forms.
- Digital Integration: The integration of digital health technologies and the emergence of smart gastroretentive systems are paving the way for more targeted and effective drug delivery methods.
Innovative Products Boost Market Growth
- Focus on PPIs: Companies in the market are focusing on developing innovative products like proton pump inhibitors (PPIs) to enhance drug delivery efficiency. For example, Xiromed LLC launched Omeprazole Delayed Release Capsules in March 2021, a generic version of Prilosec, to treat conditions caused by excessive stomach acid production.
- Enhanced Patient Adherence: The specific design of these capsules, including color and coding, aims to improve patient adherence and ensure accurate dosing, which is crucial for effective treatment.
Strategic Acquisitions Strengthen Market Position
- Catalent Inc.’s Acquisition: In August 2022, Catalent Inc. acquired Metrics Contract Services for approximately $475 million. This acquisition enhances Catalent’s capabilities in oral solid formulation development, manufacturing, and packaging, particularly for highly potent compounds.
- Expansion of Services: The acquisition underscores Catalent’s commitment to expanding its service offerings to meet growing customer demands and improve patient outcomes.
Market Segmentation and Regional Insights
Segmentation: The market is segmented by
- Type(Floating Systems, Bioadhesive Systems, Other Types),
- Dosage Form(Tablets, Liquid, Microspheres, Capsule, Other Dosage Forms),
- Application(Gastroesophageal Reflux Disease (GERD), Neurological Disorders, Other Applications), and
- End User(Pharmaceutical Companies, Contract Research Organizations (CROs), Other End Users).
Regional Dominance:
- North America was the largest region in the market in 2023, while
- Asia-Pacific is expected to be the fastest-growing region during the forecast period.
Conclusion
The gastroretentive drug delivery systems outsourcing market is set for robust growth, driven by technological innovations, strategic acquisitions, and an increasing focus on patient-centered care. As gastrointestinal disorders continue to rise globally, the demand for advanced drug delivery solutions will remain strong, positioning the market for continued expansion and development.
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