One of the reports by Towards Healthcare has gone on to forecast that the advanced drug delivery market is going to value $375.86 billion by 2033.
2023 has been termed significant for the progress made when it comes to advanced drug delivery systems, the author said. In 2023, with a size of $234.84 billion, the market saw quite a remarkable advancement that promises to reshape the healthcare landscapes all over the world.
A major innovation method happens to be the oral route of administration. In 2023, these systems went on to capture 48% of the market, as per the report’s author. Bukshet went on to underscore that this was because of its convenience as well as benefits pertaining to patient compliance.
It is well to be noted that, holding a 42% market share, controlled release mechanisms happened to be a pivotal player within the market in 2023. The report went on to stress that the rising prominence of such systems goes on to highlight quite a transition towards customized medicine along with tailored treatment regimes.
Geographically, North America happened to emerge as a major player, gaining a 38% share of the market in 2023, the study found.
Transdermal delivery
Driving the growth of the advanced drug delivery market
Transdermal drug delivery goes on to play a key role when it comes to the growth of the market because of its advantages, such as non-invasive administration, sustained release, as well as improved patient compliance, the author elucidated.
For instance, the transdermal patches go on to offer a convenient as well as an effective way so as to deliver medications via the skin into the bloodstream. The applications happen to be wide-ranging, with research acknowledged right from pain management as well as hormone replacement therapy to smoking cessation and even cardiovascular issues.
In order to stress the prominence of this system, the report went on to out forth a regulatory approval from 2023- the US Food and Drug Administration- FDA’s authorization of the microneedle patch ZYNTEGLO. This method goes on to deliver the anti-nausea drug thioperamide in order to treat post-surgery sickness.
In the report, it was forecasted that as demand when it comes to convenient and patient-friendly solutions continues to rise, the transdermal drug delivery segment is indeed poised for quite massive growth when it comes to the advanced drug delivery market.
Market outlook
The author forecasted that the integration of the latest research along with technological innovation as well as developing healthcare needs happens to be positioning the market to witness a major shift in drug delivery methodologies.
In total, looking to the future, the pharma sector will be defined by way of key factors like continual innovation and heightened efficiency, the report predicts.
