by Targeted drug delivery systems help deliver medications directly to intended sites of action in the body, minimizing potential damage to healthy tissues. These systems aid in controlled, precise, and targeted delivery of bioactive substances like drugs, proteins, polysaccharides, and nucleic acids to specific targeted sites in the body. They variously make use of polymers, lipids, nanoparticles, and other biomaterials to encapsulate drugs for optimized use by patients.
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 2.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Advancements in nanotechnology have opened up promising possibilities for more effective targeted drug delivery. Nanocarriers developed using nanotechnology allow drugs to be delivered specifically to diseased sites, thereby minimizing side effects. For example, nanoparticles developed using lipids or polymers can encapsulate drug molecules and target cells by modifying their size or surface with ligands. Once they reach the target site, external stimuli like temperature, light or pH can be used to specifically release the drug from these nanoparticles. This targeted trigger-based release ensures drugs are delivered precisely where needed. Research into nanoscale drug delivery systems has grown in recent years and could drive significant gains in the targeted drug delivery market going forward.
SWOT Analysis
Strength: Targeted drug delivery helps in reducing drug toxicity and adverse effects as the drugs are delivered directly to the site of action. This improves patient compliance.
Weakness: High research and development costs involved in developing targeted delivery systems. Regulatory hurdles for approval of new targeted delivery technologies.
Opportunity: Growing prevalence of cancer, cardiovascular diseases and other chronic conditions is increasing the demand for targeted drug delivery systems. Advancements in nanotechnology provide new opportunities.
Threats: Safety issues if nanoparticles interact with biological systems in unexpected ways. Intense competition from existing drug delivery technologies and generics.
Key Takeaways
The global Targeted Drug Delivery Market Demand is expected to witness high growth over the forecast period of 2023 to 2030.
North America region currently dominates the targeted drug delivery market owing to growing incidences of chronic diseases and growing adoption of advanced therapeutic solutions. The US accounts for the major share in the regional market. However, Asia Pacific region is expected to grow at the fastest pace owing to rising healthcare investments and expanding patient pool in developing countries like India and China.
Key players operating in the targeted drug delivery market are American Beryllia Inc., American Elements, Belmont Metals, Hunan Shuikoushan Nonferrous Metals Group Co. Ltd, IBC Advanced Alloys, Materion Corporation, and NGK Metals Corporation. These players are focusing on developing new targeted delivery technologies using nanocarriers, cell-specific ligands, monoclonal antibodies etc. to efficiently treat chronic diseases with minimizing side effects. Partnerships and collaborations between pharma companies and drug delivery technology providers are on the rise.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
