Growth in the Controlled-Release Drug Delivery Technology Market to be Driven with the Rise in Therapeutic Efficacy and Reduction in the Side Effects by 2020-2028
Research Nester published a report titled “Controlled release drug delivery technology Market- Global Demand Analysis and Opportunity Outlook 2020-2028” which delivers detailed overview of the controlled release drug delivery technology market in terms of market segmentation by product type, by application type, by technology type, by release mechanism, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The market for controlled release drug delivery technology is anticipated to record a CAGR of around 8% over the forecast period 2020-2028. The low treatment cost, reduced drug toxicity along with increased therapeutic efficacy will account for the rise in the market growth. Based on technology type, the market is bifurcated into Wurster technique, implants, targeted delivery, micro encapsulation and others, out of which, the leading share in the market will be shown by targeted delivery segment owing to the increased safety towards side effects and its improved absorption.
Based on the regional analysis, the market for controlled release drug delivery technology is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market for controlled release drug delivery technology in North America is anticipated to hold the largest share owing to the prevalence of gastrointestinal diseases and rising demand for the doses of controlled release drug delivery system. The Asia Pacific market is anticipated to grow at a faster rate with an increase in the geriatric and pediatric population along with the increasing the chances of rise in patients in the region over the forecast period.
Rise in the Global Population and Advancements in Drug Delivery System
In the current scenario, most of the children and old age population is suffering from health related issues such as physical health along with their mental health which affects their medication intake. Further, in order to stabilize the medical condition of the patients in addition to high drug loading, the departments for research & development is working on to reduce the cost for the controlled release drug delivery technology and to improve the market mechanically during the forecast period.
However, increased cost of controlled release drug delivery technology along with the non biocompatibility of the materials used that should have controlled-release properties is expected to operate as a key restraint towards the growth of controlled release drug delivery technology market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the controlled release drug delivery technology market which includes company profiling of Pfizer Inc. (NYSE:PFE), Mayne Pharma (ASX:MYX), AstraZeneca plc. (LON:AZN), Insulet Corporation (NASDAQ:PODD), Becton Dickinson and Co (NYSE:BDX), Bespak, West Pharmaceutical Services (NYSE:WST), Enable Injections Inc and Biogen Inc. (NASDAQ:BIIB). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the controlled release drug delivery technology market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.