Controlled Release Drug Delivery Market Expected to Reach 14% CAGR till 2023 – Says MRFR
Market Research Future (MRFR) report suggests that the Global Controlled Release Drug Delivery Market is anticipated to register a CAGR of 14.0 % over the review period of 2017-2023 and attain a market size worth USD 70.15 billion by 2023.
Pune, India – October 9, 2019 /MarketersMedia/ —
MRFR Reports Provides Prominent Analysis of Global Controlled Release Drug Delivery Market report by geographical overview, major products, applications, and key players. The report utilizes historical trends of the Global Controlled Release Drug Delivery Market and present statistics to derive.
Key Players – Controlled Release Drug Delivery Market
Market Research Future (MRFR) recognizes the following companies as the key players in Controlled Release Drug Delivery Market: There are plenty of large and small market players which operate in this market all over the globe.
Corium International Inc.(US), Collegium Pharmaceutical(US), Alza Corporation (Johnson & Johnson)(US), Pfizer Inc.(US), AstraZeneca (US),Biogen (US), GlaxoSmithKline (UK), Novartis (UK), Depomed, Inc. (US), Allergan (Ireland), Coating Place, Inc.(US), SKY Pharmaceuticals Pvt. Ltd.(China), and others.
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Controlled Release Drug Delivery Market – Scenario
Controlled release drug delivery involves releasing drug through drug-encapsulating devices at controlled rates for long periods to facilitate optimal use of drugs and tailoring of drug release rates. Controlled release drug delivery aids in achieving more efficacy in therapies while alleviating the potential for both overdosing and underdosing. The global controlled release drug delivery market was valued at USD 31.96 Bn in 2017 and is expected to catapult to USD 70.15 Bn at a CAGR of 14% over the forecast period of 2018-2023, asserts Market Research Future (MRFR) in a detailed study.
Enticed by the efficacy and safety achieved by controlled release drug delivery systems, remarkable interest has been witnessed in recent years towards the drug delivery system. Controlled release drug delivery is associated with the benefit of safer and more effective dosage of medicines to fight a variety of diseases, including cancer.
The Global Controlled Release Drug Delivery Market was estimated USD 31.96 billion in 2017 and expected to reach USD 70.15 billion by 2023 at a CAGR of 14.0 % during the forecast period.
Industry Updates
May 2019: Catalent, a leading producer of controlled and modified release drug to launch OneBio SuiteSM, at the BIO International Convention in Philadelphia.
In January 2019, ProMed Pharma, a contract manufacturer of polymer-based drugs, and DSM Biomedical, leading medical device materials development and manufacturing partner, announced partnership for technical and business development. The partnership focuses on using the capabilities of both the companies to develop novel sustained release drug implants and combination devices.
Segments – Controlled Release Drug Delivery Market
The Global Controlled Release Drug Delivery Market has been segmented based on route of administration, release mechanism, product, and end user.
By route of administration, the global controlled release drug delivery market has been segmented into oral, injectable, ocular, nasal, topical and implantable. The injectable segment has been further segmented into targeted delivery, transmucosal, and transdermal.
By release mechanism, the Global Controlled Release Drug Delivery Market has been segmented into chemically activated controlled drug delivery systems, polymer-based drug delivery systems,
feedback-regulated drug delivery systems, activation modulated drug delivery systems, and micro-reservoir partition-controlled drug delivery systems. The activation modulated drug delivery system segment has been further segmented into magnetically activated drug, mechanically activated drug, hydrodynamic pressure activated drug delivery, osmotic pressure activated drug delivery, and vapor pressure activated drug delivery. The chemically activated controlled drug delivery systems segment has been further segmented into hydrolysis activated drug delivery, enzyme activated drug delivery , pH-activated drug delivery.
Regional Analysis – Controlled Release Drug Delivery Market
Based on the region, the market has been segmented into the Americas, Asia Pacific, Europe, and the Middle East Asia and Africa.
The market in the Americas is expected to be at the forefront during the forecast period. The government is supporting developmental activities concerning controlled release drug delivery. Furthermore, the surge in prevalence of chronic diseases in the region is triggering the need for effective medical techniques. These factors are attracting investments for research and development. Hence, fostering the regional market growth.
Europe is expected to secure the second position in the market, globally. The increase in number of Abbreviated New Drug Application (ANDA) and New Drug Application (NDA) applications in Europe, demonstrates intensive research and developmental activities. Additionally, the region is experiencing a surge in the geriatric population. These factors are likely to play a significant role in the European market growth.
The market in the Asia Pacific is expected to expand at the fastest rate. Both government and private organizations in APAC, are making a hefty investment in the research and developmental activities. This is playing a pivotal role in product innovations. Moreover, the pharmaceutical industry in emerging economies like India and China, is growing at a rapid pace. MRFR identified these factors to escalate the market growth.
The Middle East Asia and Africa region is predicted to garner the least share of the market during the forecast period. The less per capita income and under-developed medical infrastructure are accounted for the lagging regional market growth. However, campaigns creating awareness about healthcare facilities in the MEA can impel the market growth.
LIST OF TABLES
Table 1 Global Controlled Release Drug Delivery Market Industry Synopsis, 2018–2023
Table 2 Global Controlled Release Drug Delivery Market Estimates & Forecast, 2018–2023, (USD Million)
Table 3 Global Controlled Release Drug Delivery Market, By Region, 2018–2023, (USD Million)
Table 4 Global Controlled Release Drug Delivery Market, By Route Of Administration, 2018–2023, (USD Million)
Table 5 Global Controlled Release Drug Delivery Market, By Release Mechanism, 2018 –2023, (USD Million)
Table 6 Global Controlled Release Drug Delivery Market, By Products, 2018 –2023, (USD Million)
Continued…
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LIST OF FIGURES
Figure 1 Research Products
Figure 2 Market Structure For The Global Controlled Release Drug Delivery Market
Figure 3 Market Dynamics For The Global Controlled Release Drug Delivery Market
Figure 4 Global Controlled Release Drug Delivery Market Share, By Route Of Administration 2017
Figure 5 Global Controlled Release Drug Delivery Market Share, By Release Mechanism, 2017
Figure 6 Global Controlled Release Drug Delivery Market Share, By Products, 2017
Continued…
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