How much revenue can a Controlled Release Drug Delivery manufacturing plant generate?
Changing prescription patterns of physicians preferring controlled release drug delivery over conventional systems owing to the benefits such as high-therapeutic efficacy, better patient compliance, and reduced treatment cost are expected to contribute towards the growth of the market over the forecast period. Moreover, being a part of a highly competitive and fragmented market, pharmaceutical companies are pro-active with the changing market requirements and are continuously investing on developing controlled release drug delivery system, thereby significantly driving the demand.
Gather more insights about the market drivers, restrains and growth of the Global Controlled Release Drug Delivery Market
Constantly rising R&D expenditure by pharmaceutical development companies that are focused on the development of efficient therapy for chronic and non-communicable complications such as cancer, diabetes, and hypertension are expected to boost the market growth over the forecast period. For instance, Taris an R&D-based biomedical company’s pipeline product TAR-200 (Gemcitabine) indicated for the treatment of bladder cancer includes a controlled release drug delivery system. Furthermore, in 2019, Johnson & Johnson completed the acquisition of Taris Biomedical. Its lead investigational product TAR-200 is reported to be one of the main reasons behind the acquisition.
The rising geriatric and pediatric population globally is one of the major factors contributing to the market growth, largely due to the non-adherence to the medication regimen as it is very common among these age groups. Geriatric populations suffer from compromised physical, mental, and biological functions that affect their medicine intake. Also, their body cannot tolerate high doses and harsh side effects of drugs. Thus, the demand for controlled release drug delivery systems is expected to grow with the steeply rising patient population.
Controlled release drug delivery allows a significant reduction in dose and dosage frequency, prevents abnormal fluctuations of plasma drug levels, improves efficacy, enhances patient compliance, and achieves uniform drug effects of the administered drug. In comparison to traditional delivery systems, the control releases drug delivery systems achieve a prolonged therapeutic effect, delivering drugs at the target site at a pre-determined that too at a predictable drug release kinetics. Thus, with several added benefits offered by the controlled release delivery system, their adoption is expected to increase at a notable rate over the forecast period.
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