by The controlled release drug delivery market offers several advantages over conventional drug delivery systems such as reducing dosing frequency, avoiding spikes and troughs in the blood concentration of drugs, reducing side effects and improving patient compliance. Controlled release drug delivery systems provide controlled and sustained drug release into the systemic circulation over predetermined periods of time ranging from days to months following administration of a single dose.
The Global Controlled Release Drug Delivery Market is estimated to be valued at US$ 106.1 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the controlled release drug delivery market are Orbis Biosciences, Inc., Merck and Co., Inc., Alkermes plc, Johnson and Johnson, Coating Place, Inc., Corium International, Inc., Depomed, Inc., Pfizer, Inc, Aradigm Corporation, Capsugel., Abbott Laboratories, Roche Holdings AG, AstraZeneca, Baxter International Inc, Teva Pharmaceutical Industries Ltd., Bristol-Myers Squibb Company. Key players are focused on developing innovative controlled release drug delivery formulations to fulfill the growing demand.
The increasing prevalence of chronic diseases coupled with growing geriatric population globally is the major factor fueling the Controlled Release Drug Delivery Market Demand systems. Controlled release formulations help in enhancing drug efficacy, reducing dosage frequency and side effects. This drives the demand from pharmaceutical companies for development and commercialization of controlled release combination drugs.
The market is expanding significantly across major markets globally including North America, Europe, Asia Pacific and Rest of the world. Asia pacific region is expected to witness highest growth during the forecast period owing to increasing healthcare spending, rapid economic development and rising prevalence of chronic diseases. Emerging countries like China and India offer immense growth potential for players operating in the controlled release drug delivery market.
Market key trends
Customized medication is one of the prominent trends being witnessed in the market. With advancement in drug delivery technologies, it is now possible to develop highly customized medication depending on patient needs and condition. This helps in achieving perfect drug dosage for effective treatment with minimum side effects. Players are focusing on 3D printing technology and bioprinting for manufacturing customized controlled release drugs. This emerging technology allows developing patient-specific dosage forms with precision. It is anticipated to revolutionize Controlled Release Drug Delivery Market Trends over the coming years.
Porter’s Analysis
Threat of new entrants: The controlled release drug delivery market requires high investments in R&D which makes it difficult for new players to enter the market. However, large players are open to collaborations which reduces the threat.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established brands in the market along with availability of generics.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative sourcing options and less switching costs.
Threat of new substitutes: Threat of new drug delivery substitutes is low owing to requirement of extensive clinical testing and regulatory approvals.
Competitive rivalry: The market is dominated by few large players leading to high competition.
Geographical Regions
The North American region accounts for the largest share of the market in terms of value owing to high healthcare expenditures and presence of major players.
The Asia Pacific region is expected to witness the highest growth during the forecast period attributed to growing healthcare infrastructure, increasing disposable incomes, and expansion of key players in the emerging markets of China and India.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Vaagisha Singh
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. LinkedIn
