Controlled Release Drug Delivery Market Size, Share, Opportunities, And Trends By Technology (Micro Encapsulation, Transdermal, Targeted Delivery, Others), By Release Mechanism (Polymer Based Systems, Micro Reservoir Partition Controlled Drug Delivery Systems, Feedback Regulated Drug Delivery Systems, Activation-modulated Drug Delivery Systems, Chemically Activated), By Application (Metered Dose Inhalers, Injectable, Transdermal And Ocular Patches, Others), And By Geography - Forecasts From 2023 To 2028

The global controlled release drug delivery market is estimated to grow at a CAGR of 6.93% during the forecast period.

Managed release drug administration that allows for a prolonged, controlled release of the active pharmaceutical ingredient (API) is referred to as controlled drug delivery. Numerous benefits associated with controlled drug delivery and the growing burden of chronic diseases are major growth drivers in the controlled-release drug delivery market. Moreover, the ageing population with the requirement for controlled drugs, favourable government regulations, and technological developments owing to various scientific research are also expected to bolster the controlled release drug delivery market.

Multiple Associated Benefits of Controlled Release Drug Delivery

Drug levels intended for therapeutic use are kept within the proper range for a longer length of time using controlled-release drug delivery systems. By guaranteeing a constant drug concentration in the body, this controlled release of medication might enhance drug therapy. Reduced dose frequency provided by controlled-release medication delivery systems enhances patient compliance. Less frequent drug use is typically more convenient for patients, which can improve treatment outcomes. The need for controlled-release formulations that offer continuous medication release and eliminate the requirement for frequent dosing is thus on the rise and thereby contemplated to propel the controlled-release drug delivery market.

Increasing Prevalence of Chronic Disease

Controlled-release drug delivery can lead to better treatment results, fewer medication level variations, and greater efficacy, especially in chronic diseases. Thus, the rising cases of chronic illness are contemplated to boost the controlled-release drug delivery market. The World Health Organisation (WHO) estimates that 71% of deaths worldwide in 2019 were caused by chronic diseases. This covers conditions like diabetes, cancer, chronic respiratory conditions, and cardiovascular illnesses. Cardiovascular disease (CVD) is a major chronic disease contributing significant portions worldwide. The WHO estimates that 17.9 million deaths worldwide in 2019 were caused by CVDs, accounting for 32% of all fatalities.

Growing Generic Drug Market

Generic formulations with controlled release provide prolonged release properties comparable to those of their branded equivalents. To expand the market, generic drug producers are making investments in the creation of controlled-release versions of well-known medications. The cost-effectiveness of generic medications and rising healthcare costs are driving up demand for them. Governments all over the world implemented regulatory frameworks to encourage the creation and utilization of generic medications. The U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) developed paths for the licensing of generic medications, ensuring that they adhere to the same exacting quality, safety, and efficacy criteria as name-brand medications.

Rising Research and Development Expenditure

Various scientific research studies along with the favourable funding programs in the concerned field are propelling the controlled-release drug delivery market. Research and development in biomedical imaging and bioengineering which covers topics including drug delivery systems, is supported by NIBIB. They provide funding for initiatives aimed at creating novel drug delivery systems, promoting therapeutic efficacy and safety, and raising patient compliance. Additionally, the global rising healthcare expenditure is augmenting the controlled-release drug delivery market growth. For instance, WHO predicted that in 2020, total global healthcare spending accounted for almost 10% of the world's GDP. Moreover, the healthcare R&D expenditure in the USA increased by around 11% in 2020 as compared to 2019 according to the Research America Organization.

Aging Population

One of the key drivers of market expansion is the growing worldwide geriatric and pediatric population, which is partly attributable to these age groups' high rates of non-adherence to prescribed medication schedules. For instance, according to the World Population Prospects 2019 report from the United Nations, the number of persons 60 and older is predicted to more than double by 2050, reaching 2.1 billion, or more than 20% of the world's population. Intake of medications is impacted in geriatric populations due to impaired physical, mental, and biological capabilities. Additionally, their body is unable to withstand the unpleasant side effects and excessive doses of medication. Therefore, the controlled-release drug delivery market is contemplated to bolster due to a sharp increase in the patient population and aging population.

North America is Expected to Grow Significantly

The North American region is projected to hold a significant share of the controlled release drug delivery market during the forecasted period. Various factors attributed to such a share are the higher prevalence of chronic disease, increasing healthcare expenditures, government regulation, growing geriatric population, and technological advancements. For instance, approximately 6 in 10 adult Americans were suffering from at least one chronic disease by 2020, and 4 in 10 were having two or more chronic disorders, according to the Centres for Disease Control and Prevention (CDC). Additionally, the widening generic medicine industry in the USA is another major factor in the controlled-release drug delivery market.

Major Market Players

• Adare Pharma Solutions is a multinational contract development and manufacturing organization (CDMO) that specializes in the creation and production of oral dosage forms, including formulations with controlled release. Multiparticulates, matrix systems, osmotic systems, and coated pellets are technologies used by to company. These technologies allow for the controlled and extended drug release profiles that result from sustained drug release.
• Colorcon is a world leader in terms of providing cutting-edge solutions and technical support to the pharmaceutical and dietary supplement sectors. The company's Opadry® film coatings are used to improve the durability and appearance of oral solid dosage forms, including controlled-release formulations.
• Merck & Co., Inc. is a global pharmaceutical corporation with its corporate headquarters in the United States. Merck manufactures and distributes a wide selection of pharmaceutical goods, including both branded prescription drugs and over-the-counter (OTC) items. Products offered by the company are Keytruda® (pembrolizumab), Januvia® (sitagliptin), Gardasil® (human papillomavirus vaccination), and ProQuad® (measles, and varicella vaccine).

Key Market Developments

• In March 2022, the FDA approved Corium's ADLARITY (donepezil transdermal system) as a treatment for those with mild, moderate, or severe Alzheimer's-related dementia, according to Corium, Inc.
• In January 2020, the Intellis platform for spinal cord stimulation was developed by the medical technology company Medtronic. To treat chronic pain, this platform makes use of controlled-release drug delivery. It combines an electrical stimulation device with an implanted medication pump to deliver targeted pain treatment over time.

Controlled Release Drug Delivery Market Scope:

Segmentation:

• By Technology
  • Micro Encapsulation
  • Transdermal
  • Targeted delivery
  • Others
• By Release Mechanism
  • Polymer Based Systems
  • Micro Reservoir Partition Controlled Drug Delivery Systems
  • Feedback Regulated Drug Delivery Systems
  • Activation-modulated Drug Delivery Systems
  • Chemically Activated
• By Application
  • Metered Dose Inhalers
  • Injectable
  • Transdermal and Ocular Patches
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others