Gastro-retentive Drug Delivery Systems Market to be worth US$ 24.8 Billion by 2033, Reveals Future Market Insights
The Gastro-retentive Drug Delivery Systems Market revenues were estimated at US$ 13.3 Billion in 2022 and is anticipated to grow at a CAGR of 10.1% from 2023-2033, according to a recently published Future Market Insights report. By the end of 2033, the market is expected to reach US$ 24.8 Billion.
Large drug firms’ investments to enhance gastro-retentive drug-delivery systems, along with the reduction in required doses due to enhanced bioavailability and an increase in the requirements for medications, have helped accelerate the market growth. The well-established efficacy of gastro-retentive drug delivery systems in treating a variety of stomach disorders such as peptic ulcer and gastric ulcer, as well as a growth in the incidence of H. Pylori infection, which can cause gastritis and gastric cancer, impart a significant impact on the market.
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Gastro-retentive drug distribution technology has proven to be a useful way of regulating the administration of a wide range of medicinal substances while enhancing bioavailability. Advancements in controlled oral medication administration systems have been made in recent years because of technological advancements that overcome physical roadblocks such as unpredictable stomach emptying periods and short gastric residency times. By extending their dwell time in the upper GI tract, once-GRDDS can enhance oral bioavailability and therapeutic excellence.
Technological advancements for rate-controlled oral medication delivery systems are now overcoming physiological issues such as unexpected stomach emptying intervals and short gastric residency times. To address these issues, the gastro-retentive drug delivery system is designed for a longer stomach retention duration, which increases patient preference by extending the time available for medicine absorption.
North America is expected to account for significant revenue in the gastro-retentive drug delivery systems market, with a market projection of US$ 10 Billion. Regional expansion is expected to be facilitated by the introduction of improved gastro-retentive medication delivery technology and the implementation of novel treatment techniques in healthcare.
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GRDDS are projected to be in high demand as the prevalence of gastrointestinal disorders grows in the United States and Canada, as they lengthen medication retention time in the stomach. Demand for these devices in the region is projected to be driven by the presence of a large patient pool. Rising research and development spending in emerging markets is expected to drive regional market expansion.
Manufacturers will benefit from proprietary benefits such as industry research financing and product development agreements, which will help them contribute to the development of effective cancer diagnosis technologies. Obtaining patents and government clearances for new technology will also continue to be a key growth strategy. The key players in the market include Ranbaxy, F. Hoffmann La Roche, Pharmacia, GlaxoSmithKline, Lupin, Pfizer, Depomed, Galanix, Sun Pharma, and Alcon, Inc.
Few of the recent developments of key Gastro-retentive Drug Delivery Systems providers are as follows:
- In 2020, Cadila Pharmaceuticals launched Esomeprazole tablets which will be used in treatment of hyperacidity and drug induced gastritis.
- In 2020, Xiromed LLC launched 20mg Omperazole delayed release capsules. Omeprazole is cost effective generic product which can be used in treatment of gastroesophageal reflux disease and healing of erosive esophagitis.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Gastro-retentive Drug Delivery Systems Market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights by Type (High-Density System, Expandable Drug Delivery System, Bioadhesive Drug Delivery System, Floating Drug Delivery System, Others), by Dosage Form (Tablets, Liquid, Microspheres, Capsule, Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Market Segments Covered in Gastro-retentive Drug Delivery Systems Industry Analysis
- High Density System
- Expandable Drug Delivery System
- Bioadhesive Drug Delivery System
- Floating Drug Delivery System
By Dosage Form:
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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