July 14, 2024

The Targeted Drug Delivery Market is Expected to be Flourished by Advancements in Nanotechnology

The targeted drug delivery market involves development and manufacture of drug delivery systems that help in transporting therapeutic substances in the body. These systems help increase the efficiency of treatment by directly delivering drugs to the infected site in the body and avoiding harmful effects on healthy tissues. Some common targeted drug delivery systems include liposomes, nanoparticles, micelles, and implants. For instance, liposomes are spherical vesicles that help encapsulate both hydrophilic and hydrophobic drugs and target specific tissues. Similarly, the use of nanocarriers such as dendrimers, gold nanoparticles, carbon nanotubes help improve the solubility, bioavailability, and efficacy of various drugs.

The global targeted drug delivery market is estimated to be valued at US$ 761.95 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Advancements in the field of nanotechnology have opened new possibilities for targeted drug delivery. Developments such as nanoparticle-mediated drug delivery and intelligent nanocarriers are helping improve the safety and effectiveness of various drugs. For instance, use of stimuli-responsive nanocarriers that can sense changes in the microenvironment and release drug in a controlled manner only in diseased tissues. Similarly, multifunctional nanoparticles capable of simultaneous imaging and drug delivery are being researched. Such intelligent delivery platforms help optimize drug concentrations at sites of action and facilitate precision medicine approaches. Several biologics and large molecule drugs that were previously difficult to deliver are also being efficiently transported using novel nanocarriers. Overall, continued research in nanotechnology coupled with novel material engineering is expected to further transform targeted drug delivery landscape over the coming years.

Segment Analysis
The targeted drug delivery market is segmented into technology type and therapeutic application. Based on technology type, the market is segmented into lipid-based drug delivery, polymer-based drug delivery, and others. Polymer-based drug delivery currently dominates the market and is expected to continue its dominance over the forecast period. Polymers offer advantages like drug targeting and controlled release characteristics, which makes them suitable for targeted drug delivery.

PEST Analysis

Political: Healthcare reforms in various countries aim to improve the accessibility and affordability of healthcare. This provides opportunities for targeted drug delivery technologies which can enhance efficacy and reduce costs.
Economic: The rising healthcare expenditure driven by increasing income levels in developing countries creates demand for advanced targeted drug delivery solutions.
Social: Increasing prevalence of chronic diseases like cancer is driving demand for innovative technologies like targeted drug delivery which can reduce side effects and improve patient outcomes and quality of life.
Technological: Continuous research and development is leading to advancements in targeted drug delivery technologies utilizing nanotechnology, stimuli-responsive polymers and 3D printing. Newer generation technologies offer improved targeting capabilities.

Key Takeaways

The Global Targeted Drug Delivery Market Size is expected to witness high growth over the forecast period driven by the increasing prevalence of chronic diseases. The global targeted drug delivery market is estimated to be valued at US$ 761.95 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030.

Regionally, North America is expected to dominate the market due to advanced healthcare infrastructure and higher adoption of new technologies. Europe is also a major market backed by government support for research & development.

Key players operating in the targeted drug delivery market are AbbVie Inc., Ablynx NV by Sanofi SA, Arrowhead Pharmaceuticals, Inc., Baxter International Inc., AstraZeneca PLC, Boston Scientific Corporation, Becton, Depomed, Inc., Fraunhofer Gesellschaft Munchen, Janssen Global Services, LLC., Luye Pharma Group, Pfizer Inc., Quark Pharmaceuticals Inc., Rexahn Pharmaceuticals Inc., Savara Inc., Roche Holding AG, Suda Limited, Vectura Group PLC, Taiwan Liposome Company, Ltd., and 3M Company. Key players are focusing on new product launches and acquisitions to strengthen their market presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it