Targeted drug delivery systems have gained importance in the pharmaceutical industry as they enable effective delivery of drugs to target cells and tissues. This reduces systemic side effects and improves therapeutic benefit of drugs. Growing demand for nanotechnology-based therapeutic systems and site-specific delivery of drugs is a major factor driving growth of the targeted drug delivery market.
The global Targeted Drug Delivery Market is estimated to be valued at US$ 761.95 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing need for effective drug administration has accelerated growth of the targeted drug delivery market over the past few years. Targeted drug delivery enhances drug bioavailability and reduces toxicity by enabling localized drug release at diseased sites. This minimizes systemic exposure and allows for lower drug doses. Technological advancements in nanocarriers, polymeric conjugates, nanosuspensions and hydrogels have enabled development of novel targeted delivery systems with improved therapeutic profiles. Continued R&D in bioconjugation techniques, nanocarriers and stimuli-responsive polymers is expected to bring newer products in the market and further drive the adoption of targeted drug delivery over the forecast period.
Segment Analysis
The global Targeted Drug Delivery Market is dominated by the oncology segment. Targeted drug delivery provides the advantage of delivering higher concentrations of drug directly to the tumor site while limiting systemic exposure and unwanted effects on non-targeted tissues. This approach is beneficial in the management of cancer when compared to conventional chemotherapy which lacks tumor selectivity.
Key Takeaways
The Global Targeted Drug Delivery Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is estimated to be US$ 761.95 Mn.
Regional analysis
North America is expected to dominate the targeted drug delivery market during the forecast period. Factors such as rising prevalence of cancer, increasing R&D investments for drug development, and presence of key players in the region are expected to boost market growth. Asia Pacific is projected to witness the fastest growth due to growing healthcare infrastructure, rising cancer incidence, and increasing awareness regarding targeted drug delivery therapeutics.
Key players
Key players operating in the Targeted Drug Delivery Market include AbbVie Inc., Ablynx NV by Sanofi SA, Arrowhead Pharmaceuticals, Inc., Baxter International Inc., AstraZeneca PLC, Boston Scientific Corporation, Becton, Depomed, Inc., Fraunhofer Gesellschaft Munchen, Janssen Global Services, LLC., Luye Pharma Group, Pfizer Inc., Quark Pharmaceuticals Inc., Rexahn Pharmaceuticals Inc., Savara Inc., Roche Holding AG, Suda Limited, Vectura Group PLC, Taiwan Liposome Company, Ltd., and 3M Company.
For more insights, read- https://www.dailyprbulletin.com/nanocarriers-is-accelerating-therapy-and-personalization-share
