by The Targeted Drug Delivery Market Is Estimated To Be Valued At US$ 761.95 Mn In 2023 And Is Expected To Exhibit A CAGR Of 15.% Over The Forecast Period 2023 To 2030, As Highlighted In A New Report Published By Coherent Market Insights.
Market Overview:
Targeted Drug Delivery Systems Deliver Therapeutic Agents Selectively To The Target Cells And Tissues Through Various Mechanisms That Maximize The Pharmacological And Therapeutic Effects While Reducing The Toxic Effects Of Drugs On Healthy Tissues. These Systems Include Polymer-Drug Conjugates, Liposomes, Nanoparticles, Micelles, And Antigen-Antibody Conjugates. They Overcome Issues Associated With Conventional Drug Delivery Such As Lack Of Specificity, Short Half-Life, And Degradation Of Drug Before Reaching The Site Of Action.
Market Key Trends:
The Growing Use Of Nanotechnology In Developing Targeted Drug Delivery Systems Is Expected To Be A Major Trend In The Market. Nanoparticles, Micelles, Dendrimers And Other Nanoscale Drug Delivery Systems Can Improve The Bioavailability And Solubility Of Drugs And Target Tissues More Efficiently. They Facilitate Controlled And Sustained Release Of Therapeutics While Improving Circulation Time In The Body. Further, Use Of Nanocarriers Like Gold, Magnetic And Carbon Nanotubes Has Enabled Non-Invasive Visualization And Monitoring Of Drug Delivery Process. Also, Disease-Specific Molecular Pathways Are Being Targeted Using Ligand-Directed Conjugates And Carriers For Developing Effective Cancer And Other Disease Therapies. The Application Of Monoclonal Antibodies, Peptides And Small Molecules In Targeted Delivery Is Witnessing Significant Research For Precision Medicine.
Porter’s Analysis
Threat Of New Entrants: The Targeted Drug Delivery Market Requires High R&D Investment And Capabilities Which Poses Barrier For New Entrants. Regulatory Norms For Drug Approval Acts As Entry Barrier.
Bargaining Power Of Buyers: The Presence Of Many Established Players Offering Alternatives Increases Buyer Power In This Market. Buyers Can Negotiate On Price And Quality.
Bargaining Power Of Suppliers: Suppliers Of Raw Materials Including Nanoparticles And Biologics Have Moderate Bargaining Power Due To Availability Of Substitute Materials.
Threat Of New Substitutes: Emerging Technologies Like Gene Therapy And Tissue Engineering Can Substitute Targeted Drug Delivery Market.
Competitive Rivalry: Intense Competition Exists Among Existing Players To Develop Innovative And Effective Drugs.
SWOT Analysis
Strengths: Targeted Delivery Enhances Efficacy And Safety Of Drugs. It Reduces Side Effects And Improves Patient Compliance.
Weaknesses: High Development Costs. Complex Manufacturing Processes.
Opportunities: Rising Cancer Incidence And Other Chronic Diseases Drives Market Growth. Growth Prospects In Emerging Markets.
Threats: Stringent Regulations. Supply Chain Issues Affect Production. Patent Expiries Of Blockbuster Drugs.
Key Takeaways
The Global Targeted Drug Delivery Market Is Expected To Witness High Growth At A CAGR Of 15% Over The Forecast Period, Due To Increasing Prevalence Of Chronic Diseases. The Market Size Is Projected To Reach US$ 761.95 Mn In 2023.
Regionally, North America Dominates The Targeted Drug Delivery Market Currently And Is Expected To Maintain Its Leading Position Over The Forecast Period. This Is Attributed To Growing Cancer Incidence, Supportive Patient Assistance Programs, And Availability Of Advanced Healthcare Facilities In The Region.
Key Players Operating In The Targeted Drug Delivery Market Are 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
