The global controlled release drug delivery market size projected to register around USD 91.2 billion by 2026, this market is anticipated to grow with 14.3% CAGR during the forecast time period. The market is driven by increasing technology spending in healthcare sector.
Soaring demand for pediatric and geriatric controlled release delivery methods and substitute therapies and increasing consciousness about advantages of these systems over conventional forms are providing a fillip to the controlled release drug delivery market market.
These technologies deliver numerous advantages over old-style delivery forms. Uniform drug effect, reduced dosage and less gastrointestinal side effects, dosage frequency, enhanced patient compliance, improved drug efficacy & safety, and reduced fluctuation of plasma drug levels are some of the advantages delivered by these technologies.
Controlled release drug delivery systems permit reduction in quantity of dose and dose frequency, increased patient compliance and acceptance, less fluctuation in plasma drug levels, uniform drug result, and improved effectualness quantitative relation of administered therapeutic. as compared to traditional delivery, these systems accomplish a chronic therapeutic result, increase foregone conclusion in drug unleash dynamics, and produce concerning delivery at a pre-determined rate regionally or consistently. Thus, with many more blessings offered by these systems, their adoption is slated to extend at a motivating rate over the approaching years.
Market By Release Mechanism
Market By Technology
Market By Application
Market By Geography
North America captures the largest revenue share at 35.6% and will continue to retain its dominance position over the forthcoming years. Speedy acceptance of advanced devices and technologies and high per capita healthcare expenditure are expected to surge the need for connected drug delivery systems in the region. High price of controlled release drug delivery is expected to be the one of the substantial factor in hampering the market growth in emerging regions such as MEA, APAC and Latin America. Though, with the growing numeral of market entrants the device prices are anticipated to fall over time; this will backing the market growth in emerging such countries such as India and China.
The major players associated with the controlled release drug delivery market Capsugel, Orbis Biosciences, Inc., Pfizer, Inc, Merck and Co., Inc., Johnson and Johnson, Alkermes plc, Coating Place, Inc., Depomed, Inc., Corium International, Inc., and Aradigm Corporation. Most of these firms put stress on new product launch and mergers & acquisitions, technological expansion, and strategic partnership activities as part of their commercial growth strategies.