Advanced Drug Delivery Market Expected to Reach $1,95,132.45 Million by 2030

According to a new report published by Allied Market Research, titled, " Advanced Drug Delivery Market by Product Type, End User and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030," the global advanced drug delivery market size was valued at $44,029.59 million in 2020, and is projected to reach $1,95,132.45 million by 2030, growing at a CAGR of 16.0% from 2021 to 2030.

Advanced drug delivery refers to the methods, formulations, and procedures (routes of administration) designed to administer drugs for various applications or therapeutic usage. The term advanced drug delivery (ADD) refers to technologies that modulate the rate of drug release. The technology utilized is heavily influenced by the kind of disease, drug, and desired effect. The objective of advanced drug delivery system is to deliver a therapeutic amount of drug to the appropriate site in the body in order to attain and then maintain the desired drug concentration as quickly and efficiently as possible.

Advantages of advanced drug delivery systems over traditional systems is its ability to deliver a drug more selectively to a specific site; easier, more accurate, less frequent dosing; decreased variability in systemic drug concentrations; absorption that is more consistent with the site and mechanism of action; and reduction in toxic metabolites. There are various product types utilized for ADD like the drug eluting lens, which contain various drugs according to the requirement of the patients, hydrogel drug delivery, microneedle patch and nano carriers that comprise polymer conjugates, polymeric nanoparticles, lipid-based carriers, dendrimers, carbon nanotubes, and gold nanoparticles. Lipid-based carriers include both liposomes and micelles. It also consists of nanobubbles and nanorobots.

The growth of the advanced drug delivery market is majorly driven due to rise in prevalence of chronic diseases, emergence of new diseases, advancement and development of various drug delivery routes.

For instance, in March 2020, Bioavanta-Bosti, a leader in chitosan nanoparticles research, announced the release of Novochizol a unique polysaccharide nanotechnology, where any active pharmaceutical ingredient, small molecule, or biologic can be encapsulated for localised distribution and sustained release in any tissue or organ. It created an intra-pulmonary medication delivery formulation suited for COVID-19 patients using a 48-hour manufacturing procedure. Preclinical research revealed that the chitosan nanoparticles are totally biocompatible, stick strongly to lung epithelial tissues, and provide sustained release without systemic dispersion, indicating that it is a safe and effective drug delivery technique. Thus, development of such technology significantly boosts the advanced drug delivery market growth.

In addition, surge in healthcare expenditure worldwide for better treatment and life longevity, rise in number of developments made by key players in drug delivery system market through various innovative product launches for safe & effective therapy along with collaboration, partnership, and agreements among the manufacturers boost the market growth. For instance, in October 2019, OcuMedic, Inc. and Gelest, Inc. entered an investment and supply agreement for novel contact lens drug delivery system to further revolutionize the eye care and thus, is expected to drive the advanced drug delivery market.

According to the U.S. FDA, more than 100,000 human deaths are caused annually due to adverse drug reactions. Adverse drug reactions are the fourth major cause of death in the U.S. Therefore, ensuring an effective approach in drug development studies to facilitate the development of novel drug candidates and drug delivery for safe and effective therapy significantly boosts the market. This compels the biotechnological and pharmaceutical companies to adopt modern advanced drug delivery technologies, which is anticipated to offer remunerative opportunities for the expansion of the market. Moreover, establishment of reference laboratories across the globe for research studies is further anticipated to drive the growth of the advanced drug delivery market.

However, rise in drug recalls and clinical trial failures of advanced drug delivery, and challenges in nano are expected to impede the market growth.

By product type, the market is segmented into drug eluting lens, microneedle patch, hydrogel drug delivery and nano carrier. The nano carrier segment generated maximum revenue in 2020, accounting $35,966.27 million. The drug eluting lens segment is expected to witness highest CAGR of 24.1% during the forecast period.

Depending on end user, the market is differentiated into hospitals, specialized clinics and others. The specialized clinics segment dominated the market in 2020 with $21,458.48 million and is expected to witness CAGR of 15.8% during the forecast period.

North America accounted for a majority of the global advanced drug delivery market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to increase in adoption of advanced technologies, owing to the better adoption of improved drug delivery solutions, presence of key players, and rise healthcare expenditure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in R&D activities, rise in diseases prevalence and increase in investments in the healthcare sector in the region.

Key Findings Of The Study

• By product type, nano carrier was the highest contributor to the advanced drug delivery market in 2020.
• By end user, specialized clinics segment exhibited the highest growth in 2020, and is expected to continue this trend during the forecast period.
• By region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.