Controlled Release Drug Delivery Market 2019 Overview Key Reasons for the Present Growth, Demand and Upcoming Business Opportunity with Detailed Foreseen to 2023
Global Controlled Release Drug Delivery Market Research Report, by Route of administration (Transdermal, Oral), Release Mechanism (Polymer-based, Micro reservoir Partition), Products (Metered Dose Inhalers), End User (Hospital)— Forecast till 2023
Controlled release drug delivery is a method of doling out drugs in required doses to patients. They contain a range of devices which can release drugs into the system which can span months and even years. They are applicable to patients of all age groups but preferred for pediatrics and geriatrics. Market Research Future (MRFR) has compiled the topmost trends, opportunities, and growth drivers of the global controlled release drug delivery market report with forecasts for the period between 2017 and 2023.
Controlled Release Drug Delivery Market Outlook
The Global Controlled Release Drug Delivery System is set to achieve a jump in valuation from USD 31.96 billion in 2017 to USD 70.15 billion by 2023, according to MRFR. It can exhibit a CAGR of 14% from 2018 to 2023 (forecast period). Key factors driving market growth include rising cases of patient deaths due to overdose, health problems from high doses, and rising R&D efforts in the healthcare industry. Growing prevalence of chronic diseases and vulnerability among geriatric and pediatric populace can drive the global market demand. Advantages pertaining to the technology such as reduction of toxin accumulation, acclimatization of patients to the dose rate, and stability of the medical condition can influence the controlled drug delivery market demand.
Low awareness of the technology and high costs per dose can negatively impact the market growth trajectory.
Controlled Release Drug Delivery Market Competitive Landscape
Allergan, SKY Pharmaceuticals Pvt. Ltd., Alza Corporation (Johnson & Johnson), Novartis, Depomed, Inc. (US), AstraZeneca, Collegium Pharmaceutical, GlaxoSmithKline, Pfizer Inc., Corium International Inc., Coating Place, Inc., Biogen, and others are key market participants.
Controlled Release Drug Delivery Market Segmentation
The global controlled release drug delivery market is segmented on the basis of route of administration, release mechanism, products, and end users.
By route of administration the market is segmented into nasal, oral, ocular, topical, implantable, and injectable. The injectable is sub-segmented into targeted delivery, transmucosal, and transdermal.
On the basis of the release mechanism, the market is segmented into activation modulated drug delivery systems, polymer-based drug delivery systems, feedback-regulated drug delivery systems, micro-reservoir partition-controlled drug delivery systems, and chemically activated controlled drug delivery systems. The activation modulated drug delivery systems are sub-segmented into osmotic pressure activated drug delivery, magnetically activated drug, hydrodynamic pressure activated drug delivery, mechanically activated drug, and vapor pressure activated drug delivery. The chemically activated controlled drug delivery systems are sub-segmented into enzyme activated drug delivery, pH-activated drug delivery, and hydrolysis activated drug delivery.
By product, the market is segmented into transdermal patches, auto-injectors, metered dose inhalers, needle-free injectors, drug-eluting stents, nasal sprays, nebulizers, infusion pumps, ocular implants, and sustained release.
By end user, the market is segmented into research centers, hospital and clinics, personal use, and others.   Â
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Controlled Release Drug Delivery Market Regional Analysis
On the basis of region, the global controlled release drug delivery market is segmented into Asia Pacific (APAC), the Americas, Europe, and the Middle East and Africa (MEA).
Within the Americas, North America is expected to dominate the global market owing to the alarming cases of Crohn’s disease, Alzheimer’s, and others. Presence of pharmaceutical companies, increased efforts in research and development, and improvements in the infrastructure of the healthcare sector can drive the regional market growth. According to the Centers for Disease Control & Prevention (CDC), nearly 3 million adults in the U.S. were diagnosed with some form of chronic disease inducing the need for automatic drug dispensing equipment.
The APAC region is presumed to showcase an exemplary growth rate due to demand for controlled doses for drugs due to rising numbers of cancer cases and increased funding given by government organizations for encouraging the growth of the technology.