Global Advanced Drug Delivery Systems Market To Witness Significant Growth In The Forecast Period – Projected CAGR Of 6% From 2023 To 2027 As Per The Business Research Company’s Advanced Drug Delivery Systems Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Nov. 27, 2023 (GLOBE NEWSWIRE) — The latest market report from The Business Research Company reveals promising prospects for the global advanced drug delivery systems market. Titled “Advanced Drug Delivery Systems Global Market Report 2023,” the report forecasts substantial growth, with the market expected to surge from $240.97 billion in 2022 to $256.43 billion in 2023, reflecting a notable Compound Annual Growth Rate (CAGR) of 6.4%. The advanced drug delivery systems market is anticipated to continue its upward trajectory, reaching $323.68 billion in 2027, at a steady CAGR of 6%.
Rising Prevalence of Chronic Conditions to Drive Market Growth
The increasing prevalence of chronic conditions emerges as a key driver propelling the growth of the advanced drug delivery systems market. Chronic diseases, responsible for a significant proportion of deaths, demand ongoing medical care and impact daily activities. Factors such as tobacco use, poor nutrition, physical inactivity, and excessive alcohol consumption contribute to the rise in chronic diseases. Advanced drug delivery systems play a pivotal role in targeted therapeutic agent delivery, enhancing drug effectiveness and minimizing side effects. Notably, the United Nations reports that chronic diseases account for seven out of 10 deaths in the U.S., underscoring the critical need for advanced drug delivery solutions to address this healthcare challenge.
Learn More In-Depth On The Advanced Drug Delivery Systems Market
Key Players in the Market
The advanced drug delivery systems market boasts a roster of major players, including Pfizer Inc., Johnson and Johnson Services Inc., Roche Holding AG, AbbVie Inc., and Novartis AG, among others. These industry leaders contribute significantly to the market’s dynamism and innovation.
Embracing Technological Advancements
Technological advancements stand out as a prominent trend shaping the advanced drug delivery systems market. Major companies are leveraging new technologies to maintain their competitive edge. For instance, Shilpa Medicare Limited introduced Molshil, the world’s first oral thin film formulation of a pediatric dose of paracetamol, enhancing palatability and ease of administration. This reflects a broader industry trend of adopting innovative technologies to enhance drug delivery methods.
Strategic Acquisitions and Collaborations
The report highlights strategic moves within the industry, such as Halozyme Therapeutics Inc.’s acquisition of Antares Pharma Inc. This acquisition positions Halozyme as a top drug delivery firm, expanding its capabilities in auto-injector technology and specialty commercial business.
Regional Insights
In 2022, North America dominated the advanced drug delivery systems market, while Asia-Pacific is poised to be the fastest-growing region in the advanced drug delivery systems market in the forecast period.
Market Segmentation
The global advanced drug delivery systems market is segmented based on type, carrier type, technology, application, and end-user, providing a comprehensive analysis for industry stakeholders.
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In conclusion, The Business Research Company’s Advanced Drug Delivery Systems Global Market Report 2023 offers valuable insights for industry players aiming to navigate the evolving landscape. As the advanced drug delivery systems market experiences robust growth, businesses can leverage this report to make informed decisions, identify emerging opportunities, and stay ahead of the competition. By understanding market trends and strategic developments, players can optimize their strategies to drive success in the dynamic advanced drug delivery systems market.
Advanced Drug Delivery Systems Global Market Report 2023 by The Business Research Company provides insights on the template market size, template market segments, template market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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