Global Advanced Drug Delivery Market to Generate a Revenue of $94,352.5 Million by 2028, Growing at a CAGR of 10.0% from 2021-2028 [175-pages] | Declared by Research Dive
The global advanced drug delivery market is expected to grow rapidly by 2028, owing to the growing cases of cancer. The hospital sub-segment is expected to be most profitable. The North America region is expected to dominate the global market.
NEW YORK, July 6, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, 'Advanced Drug Delivery Market by Drug Delivery System (Nanocarriers, Hydrogel, Transdermal, and Microneedle Patch), End-user (Hospitals, Specialty Clinics, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028'.
According to the report published by Research Dive, the global advanced drug delivery market is expected to generate a revenue of $94,352.5 million by 2028, growing exponentially at a CAGR of 10.0% during the forecast period 2021-2028.
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Dynamics of the Advanced Drug Delivery Market
Availability of improved healthcare infrastructure and advanced diagnosis facilities is expected to drive the growth of the advanced drug delivery market during the forecast period. In addition, wide application of nanoparticle-based drug delivery systems in the treatment of cancer is expected to bolster the growth of the market during the forecast period. Furthermore, significant surge in R&D activities to create advanced drug delivery systems is expected to create tremendous opportunities for the growth of the advanced drug development market during the forecast period. However, poor bioavailability of nanoparticle-based drug discovery is expected to impede the growth of the advanced drug delivery market during the forecast period.
COVID-19 Impact on the Advanced Drug Delivery Market
The outbreak of COVID-19 has had a negative impact on the growth of the global advanced drug delivery market, owing to the prevalence of stringent restrictions imposed by the government during the pandemic. The fear of spreading coronavirus adversely impacted most of the phases of the drug development process, and hence most of the research, pharmaceuticals, and biotechnology institutes halted their production and rigorous R&D activities. There was also a huge shortage of life-saving medicines in most of the affected countries across the globe. Thus, coronavirus has had a negative impact on the growth of the market during the forecast period.
Segments of the Advanced Drug Delivery Market
The report has divided the advanced drug delivery market into various segments based on drug delivery system, end-user, and region.
- By drug delivery system, the nanocarriers sub-segment is expected to be most profitable, and generate a revenue of $69,389.3 million during the forecast period. Significant surge in R&D investments and growing importance of nanocarriers in accurately delivering drugs at the target site is expected to stimulate the growth of the advanced drug delivery market sub-segment during the forecast period.
- By end-user, the hospital sub-segment is expected to be most lucrative, and generate a revenue of $44,710.0 million during the forecast period. Presence of advanced diagnosis instruments and growing number of patients attending hospitals for treatments are expected to surge the growth of the advanced drug delivery market sub-segment during the forecast period.
- By region, the North America region is expected to dominate the global market, and generate a revenue of $39,722.4 million during the forecast period. Rising prevalence of cancer, obesity, and heart diseases among people living in this region is expected to drive the growth of the market during the forecast period. In addition, immense presence of skilled doctors and medical practitioners in this region is further expected to accelerate the growth of the regional advanced drug delivery market during the forecast period.
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Key Players of the Market
The major players of the market include
- Bausch Health Companies Inc.
- Novo Nordisk A/S
- Altaris
- Micropoint Technologies.
- Takeda Pharmaceutical Company Limited
- Ocular Therapeutix, Inc.
- 3M
- Raphas Co., Ltd.
- GALDERMA
- NanoPass
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in January 2022, Merck KGaA, a Germany-based dominant science and technology company that operates across life science, healthcare, and electronics, acquired Exelead, a dynamic innovative platform that is engaged in developing and producing liposomal and LNP drug product formulations, in order help Merck capture prominent potential of the fast-growing market for mRNA therapies. Inquire here before buying the full report
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
More about Advanced Drug Delivery Market:
- A Concise Outlook on Advanced Drug Delivery Systems
- Acquisitions like That of Dicerna Pharmaceuticals by Novo Nordisk to Propel the Growth of Advanced Drug Delivery Market
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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