The global controlled release drug delivery market size is expected to reach USD 90.18 billion by 2025, experiencing a CAGR of 14.0% during the forecast period.
Soaring need for geriatric and pediatric controlled release delivery techniques and alternative therapies and rising awareness regarding benefits of these systems over conventional forms are providing a fillip to the market.
These technologies offer various benefits over traditional delivery forms. Reduced dosage and dosage frequency, less gastrointestinal side effects, enhanced patient compliance, uniform drug effect, improved drug efficacy and safety, and reduced fluctuation of plasma drug levels are some of the benefits offered by these technologies.
Dysphagia in geriatric population and unpleasant taste of pediatric dosages are playing a vital role in boosting the adoption of controlled release drug delivery systems. According to a report published by Orbis Biosciences, with reduction in frequency of dosages, compliance rates are witnessed to increase. Innovations in various drug delivery systems has been providing geriatric and pediatric population with easy solutions, which are further propelling the market. Controlled release of drugs allows reduction in overdose in elderly population as they can be altered according to required dosage over a specific period of time.
North America is estimated to be at the forefront of the market throughout the forecast period due to technologically advanced infrastructure, increasing R&D activities, and presence of major players and pharmaceutical companies in the region. Emerging countries such as India, China, and Brazil are also anticipated to register promising growth during the same period owing to improving healthcare infrastructure and medical technologies to cater to specific patient care. On similar lines, Asia Pacific is projected to post the highest CAGR during the forecast period.
Further key findings from the report suggest:
On the basis of application, oral controlled release systems held the largest share in the market in 2017 owing to increasing usage and ease of convenience offered for administration of medication
Targeted drug delivery is poised to be the fastest growth technology segment during the forecast period owing to its various benefits
Osmotic delivery, based on activation modulation drug delivery systems, is likely to witness the highest CAGR due to its ability to not be affected by various factors, such as pH, food consumption, and gastrointestinal motility
Asia Pacific is expected to post the highest CAGR during the forecast period owing to rising investments by dominant players in the region and developments in the of pharmaceutical industry in emerging countries, such as India and China
Some of the prominent companies operating in the market are Orbis Biosciences, Inc.; Merck and Co., Inc.; Alkermes plc; Johnson and Johnson; Coating Place, Inc.; Corium International, Inc.; Depomed, Inc.; Pfizer, Inc; Aradigm Corporation; and Capsugel.