Global Advanced Drug Delivery Systems Market to Surpass US$ 343.5 Billion by 2030, Says Coherent Market Insights (CMI)
Burlingame, Jan. 20, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global advanced drug delivery systems market is estimated to be valued at US$ 231.8 billion in 2022 and is expected to exhibit a CAGR of 5.04% during the forecast period (2022-2030).
Analyst’s Views on Global Advanced Drug Delivery Systems Market:
The global advanced drug delivery systems market’s growth can be hindered due to product recall of drug delivery products. For instance, on October, 13, 2022, the U.S. Food and Drug Administration (U.S.FDA) announced voluntary recall of sodium bicarbonate injection, used for treatment of metabolic acidosis. In September, 2019, Sodium bicarbonate injection was manufactured by Exela Pharma Sciences, LLC, the company developing, manufacturing and marketing sterile injectable pharmaceuticals and provides contract manufacturing services. The recall was based on the vial breakage
Key Trends and Analysis of the Global Advanced Drug Delivery Systems Market:
Increase in research and development strategies by the key players is expected to drive the growth of the global advanced drug delivery systems market over the forecast period. For instance, on September 12, 2022, Otsuka Pharmaceutical Co., Ltd., a pharmaceutical company, announced favorable findings from a phase III clinical study of brexpiprazole for the treatment of major depressive disorder that was conducted in Japan. The result shows that patients receiving brexpiprazole as adjunctive medication have statistically higher primary endpoints of the Montgomery-Asberg Depression Rating Scale than those receiving adjunctive placebo (2 mg: p=0.0312, 1 mg: p=0.0089).
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Driver -:
Increasing prevalence of cardiovascular diseases to augment the market size
According to the factsheet published by World Health Organization, in June 2021, cardiovascular diseases are the most common occurring diseases globally. Among which, heart diseases are most common. About 20.1 million adults aged 20 and older have coronary heart disease, and every year, about 805,000 people in the U.S. have a heart attack.
Products recall to hinder the market pace
Increasing number of product recalls by regulatory authorities such as the U.S. Food and Drug Administration is expected to hinder the market growth. For instance, on December 27, 2022, the U.S. Food and Drug Administration recalled Daptomycin for Injection 500 mg/vial and Daptomycin for Injection 350 mg/vial, used for the treatment of adult and pediatric patients with complicated skin and skin structure infections (cassis) caused by susceptible isolates of the Gram-positive bacteria. The Daptomycin for Injection 500 mg/vial and Daptomycin for Injection 350 mg/vial was manufactured by Accord Healthcare Inc., a pharmaceutical company. The product was recalled due to product mixed up.
Market Trends -:
Adoption of growth strategies by market players to augment the market size
Increasing number of organic strategies, such as market authorization by the regulatory bodies, offers growth opportunities for players in the advanced drug delivery systems market. For instance, on December 02, 2022, GSK plc., a pharmaceutical and biotechnology company, announced that European Medicine Agency had validated market authorization application (MAA) for momelotinib, an oral treatment for myelofibrosis. The validation was based on results from key phase III trials, which met all primary and key secondary endpoints, including Total Symptom Score (TSS), Transfusion Independence (TI) rate and Splenic Response Rate (SRR). Thus, the increasing market authorization by the regulatory bodies is expected to boost the growth of advanced global advanced drug delivery systems market.
Recent Developments:
On December 20, 2022, Bristol-Myers Squibb Company, a global biopharmaceutical company, announced that it had received approval in Japan for Breyanzi, a CD19-targeting chimeric antigen receptor (CAR) T cell therapy, used in treatment of relapsed or refractory large B-cell lymphoma (LBCL). The approval was based on results according to which Breyanzi demonstrated a statistically and clinically significant improvement in the primary endpoints of event-free survival (EFS) [HR: 0.349 95% CI: 0.229-0.530, p0.0001] and progression-free survival (PFS) [HR: 0.406 (95% CI: 0.250-0.659), p = 0.0001] in patients with relapsed or refractory aggressive B-cell non-Hodgkin lymphoma.
On November 18, 2022, Sun Pharmaceutical Industries Limited, a global specialty generic pharmaceutical company, announced that the U.S. Food and Drug Administration (USFDA) had approved SEZABY (phenobarbital sodium powder for injection) for the treatment of neonatal seizures. The approval was based on results, according to which the randomized controlled trial compared the incidence of recurrent seizures in neonates treated with phenobarbital vs. levetiracetam in 94 neonates. Twenty-four hours following the administration of phenobarbital or levetiracetam, 73% vs. 25% were seizure-free in the respective groups.
On December 21, 2022, Sanofi, a pharmaceutical and healthcare company, released findings from a successful Phase 3 trial demonstrating that adults and adolescents receiving Dupixent (dupilumab) 300 mg weekly saw improvements in the signs and symptoms of eosinophilic esophagitis (EoE). Patients receiving Dupixent weekly experienced improvement in the ability to swallow and achieved histological disease remission.
On June 15, 2022, Otsuka Pharmaceutical Co., Ltd., a healthcare company, announced the approval of AJOVY, subcutaneous Injection 225 mg, used for preventive treatment of migraine in Japan. AJOVY is a subcutaneous injection of anti-CGRP (calcitonin gene-related peptide) monoclonal antibody produced by recombinant DNA technology. CGRP is believed to play an important role in migraine attacks. Ajovy targets CGRP ligand and inhibits binding to the CGRP receptor.
Key Market Takeaways:
The global advanced drug delivery systems market is expected to exhibit a CAGR of 5.0% during the forecast period. For market players in advanced drug delivery systems, an increase in research and development efforts is anticipated to provide attractive growth prospects. For instance, in September 2022, Bristol-Myers Squibb Company, a biopharmaceutical company, announced the results of phase III clinical trial, of Reblozyl (luspatercept-aamt), for the treatment of anemia due to very low-, low- or intermediate-risk (IPSS-R) myelodysplastic syndrome (MDS) in patients who are red blood cell (RBC) transfusion dependent. The results met its primary endpoint, demonstrating a highly statistically significant and clinically meaningful improvement in red blood cell transfusion independence (RBC-TI) with concurrent hemoglobin (Hb) increase in the first-line treatment of adult patients with very low-, low- or intermediate-risk myelodysplastic syndromes (MDS) who require RBC transfusions.
Among type, Oral drug delivery system segment is dominant in the U.S. due to the factor that key players are focused on approval of products by regulatory bodies. For instance, on December 12, 2022, the U.S. Food and Drug Administration approved Radicava ORS (edaravone) oral suspension for the treatment of adults with amyotrophic lateral sclerosis (ALS). The efficacy of Radicaba ORS is based on studies that have shown levels of Radicaba ORS in the bloodstream to be comparable with those of an IV formulation of Radicaba.
On the basis of application, cardiovascular diseases segment in Asia Pacific is expected to hold a dominant position over the forecast period due to an increasing smoking rate and increase in risk factors associated with cardiovascular diseases. For instance, in June 2021, a review article was published by ScienceDirect, according to which cardiovascular disease (CVD) was the leading cause of death in Asia due to an increase in the smoking rate by the Asian people. Among 39 Asian countries, smoking prevalence is over 30% in 8 countries and more than 20% in 29 countries. However, because male population have much higher smoking rates than female population in Asian countries, estimates of combined smoking rates may underestimate the problem of smoking among men.
Competitive Landscape:
Key players operating in the global advanced drug delivery systems market include Amgen Inc., Bristol-Myers Squibb Company, Sanofi, Otsuka Pharmaceutical Co., Ltd., Celgene Corporation, Boston Scientific, GSK plc., Baxter International, Sun Pharmaceutical Industries Limited, Astrazeneca, Astellas Pharma, Exela Pharma Sciences, LLC, Intas Pharmaceuticals, 3M Company, Abbott Laboratories, and Bayer Healthcare, among others
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Market Segmentation:
Global Advanced Drug Delivery Systems Market, By Type:
Oral Drug Delivery System
Injection-Based Drug Delivery System
Inhalation/Pulmonary Drug Delivery System
Transdermal Drug Delivery System
Transmucosal Drug Delivery System
Carrier Based Drug Delivery System
Others
Global Advanced Drug Delivery Systems Market, By Application:
Cardiovascular Diseases
Oncology
Urology
Diabetes
CNS
Ophthalmology
Inflammatory diseases
Infections
Others
Global Advanced Drug Delivery Systems Market, By Technology:
Prodrug
Implants and Intrauterine Devices
Targeted Drug Delivery
Polymeric Drug Delivery
Others
Global Advanced Drug Delivery Systems Market, By Geography:
North America
By Country
U.S.
Canada
Latin America
By Country
Brazil
Mexico
Argentina
Rest of Latin America
Europe
By Country
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
By Country
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
By Country
GCC
Israel
Rest of Middle East
Africa
By Region/Country
South Africa
Central Africa
North Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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