In-Depth 2024 Controlled Release Drug Delivery Market Analysis: Growth, Share, and Emerging Trends
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2024-2033 Controlled Release Drug Delivery Market Growth Rate: What’s the Forecast?
The market size of controlled release drug delivery has experienced quick expansion in the past few years. The market value is projected to rise from $59.2 billion in 2023, and hit $66.18 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 11.8%. The unprecedented growth during the historic period is a result of groundbreaking drug delivery systems, advent of early polymer-based formulations, the application of microencapsulation techniques, the development of transdermal delivery, along with regulatory approvals and standardization.
In the coming years, the controlled release drug delivery market is anticipated to witness a steep rise in its size. The market value is projected to surge to $105.06 billion in 2028, recording a compound annual growth rate (CAGR) of 12.2%. The growth trajectory during the forecast period is largely ascribed to factors such as a shift towards personalized medicine, fusion of technology for patient comfort, proliferation of biologics and biosimilars, market breakthrough in developing regions, and strides in polymer science. During the forecast period, significant trends encompass the development of biodegradable and biocompatible materials, progress in nanotechnology, personalized medicine and targeted therapies, advancements in implantable devices, and innovative encapsulation methods.
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What Drivers Are Accelerating the Growth of the controlled release drug delivery Market?
Expectations are that the escalating incidence of chronic conditions will fuel the expansion of the controlled release drug delivery market. Chronic conditions, also classified as noncommunicable diseases, are represented by health issues such as heart disease, cancer, and diabetes—ailments that extend beyond a year, demand constant medical attention, and potentially hamper ordinary activities. Controlled-release drug delivery methods are essential in addressing these persistent diseases. For patients suffering from long-standing ailments requiring extended treatment periods or for those living in locations where healthcare resources and accessibility are inadequate, drug delivery designs that facilitate extended medication release are key. As per a report published by the World Health Organization (WHO), a Switzerland-based health-specialized institution, in September 2022, about 41 million individuals succumb to chronic diseases each year, accounting for 74 percent of all global deaths. Chronic diseases claim the lives of 17 million people prior to the age of 70. Furthermore, 77 percent of chronic disease-induced deaths take place in low to middle-income countries. These figures are projected to escalate in time. Hence, the controlled release drug delivery market growth is being driven by the increasing presence of chronic diseases.
What Key Segments Can Be Identified in the Controlled Release Drug Delivery Market?
1) By Technology: Wurster Technique, Coacervation, Micro Encapsulation, Implants, Transdermal, Targeted Delivery, Other Technologies
2) By Release Mechanism: Polymer Based Systems, Micro Reservoir Partition Controlled Drug Delivery Systems, Feedback Regulated Drug Delivery Systems, Activation-Modulated Drug Delivery Systems, Chemically Activated,
3) By Application: Metered Dose Inhalers, Injectable, Transdermal and Ocular Patches, Other Applications
4) By End User: Hospitals, Clinics, Personal, Research, Other End Users
What Trends Are On the Rise in the Controlled Release Drug Delivery Market?
Emerging technologies are setting the pace in the controlled-release drug delivery market, rising as the prevailing trend. To safeguard their standing in the market, dominant companies have begun embracing these new advancements. For instance, Evonik Industries AG, a pharmaceutical firm rooted in Germany, introduced UDRATEC SoluFlow in March 2022. This novel microparticle technology innovation is designed to enhance the solubility of active medicinal components in pills. The technique is an emulsion-based process that surpasses the existing production methods’ limitations on solubility. UDRATEC SoluFlow is a valuable addition to Evonik Health Care’s collection of oral drug delivery systems, involving oral excipients like EUDRAGIT functional polymers, ready-to-fill functional capsules including EUDRACAPTM, and additional techniques and services to refine medication efficacy.
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What Regions Are Steering Growth in the Controlled Release Drug Delivery Sector?
North America was the largest region in the controlled release drug delivery market in 2023. The regions covered in the controlled release drug delivery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Controlled Release Drug Delivery Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the controlled release drug delivery market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Controlled Release Drug Delivery Market Include
1. Controlled Release Drug Delivery Market Executive Summary
2. Controlled Release Drug Delivery Market Segments
3. Controlled Release Drug Delivery Market Size And Template Market Growth Rate
4. Key Controlled Release Drug Delivery Market Trends
5. Major Controlled Release Drug Delivery Market Drivers
……
25. Key Mergers And Acquisitions In The Controlled Release Drug Delivery Market
26. Top Controlled Release Drug Delivery Companies
27. Controlled Release Drug Delivery Market Opportunities And Strategies
28. Controlled Release Drug Delivery Market, Conclusions And Recommendations
29. Appendix
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