Dublin, Dec. 22, 2023 (GLOBE NEWSWIRE) — The “Long-Acting Drug Delivery Technologies and Services Market: A Global and Regional Analysis, 2023-2033” report has been added to ResearchAndMarkets.com’s offering.
As of 2022, the global long-acting drug delivery technologies and services market held a value of $11.41 billion. The market is expected to grow at a CAGR of 11.31% during the forecast period 2023-2033 and attain a value of $36.82 billion by 2033. The market’s trajectory suggests a transformative impact on pharmaceutical care, with companies adept at addressing regulatory complexities and embracing technological innovations poised for significant success.
Market Lifecycle Stage
The global long-acting drug delivery technologies and services market is in a growing phase. Characterized by a significant increase in demand and adoption, this stage reflects the rising recognition and acceptance of long-acting drug delivery solutions. Key drivers, including the growing prevalence of chronic diseases, technological advancements, and a shift toward patient-centric approaches, are propelling the market forward. Innovative formulations and delivery systems are gaining traction, attracting investments and fostering collaborations across pharmaceutical and technology sectors. While challenges such as regulatory complexities and cost considerations persist, the overall trajectory suggests a dynamic and expanding market.
Opportunities for market expansion, particularly in emerging regions and therapeutic applications, further underscore the growth stage characteristics. As the industry continues to evolve, companies that effectively navigate challenges and capitalize on opportunities are well-positioned to contribute to the maturity and sustainability of the long-acting drug delivery technologies and services market.
The industry impact of long-acting drug delivery technologies and services is profound, influencing various facets of the pharmaceutical and healthcare sectors. One significant effect is observed in patient outcomes and adherence. The adoption of long-acting drug delivery systems contributes to improved patient adherence, as these technologies often require less frequent dosing, reducing the likelihood of missed doses and enhancing overall treatment efficacy. This positive impact on patient outcomes not only enhances the quality of healthcare but also potentially reduces healthcare costs associated with untreated or sub-optimally treated conditions.
Furthermore, the market has spurred a wave of innovation and collaboration within the pharmaceutical industry. Companies are investing in research and development to create novel drug formulations and delivery methods, fostering a competitive landscape that prioritizes efficiency and patient-centric solutions. The emergence of interdisciplinary collaborations between pharmaceutical scientists, engineers, and clinicians is accelerating the development of cutting-edge technologies that go beyond traditional drug delivery mechanisms.
Segmentation 1: by Technique
- Long-Acting Injectables
- Long-Acting Hydrogels
- Long-Acting Implants
- Long-Acting Microneedles
- Nanocrystal Suspensions
Long-Acting Injectables to Dominate the Global Long-Acting Drug Delivery Technologies and Services Market (by Technique)
The long-acting injectables segment dominated the global long-acting drug delivery technologies and services market (by technique) in FY2022. The increasing preference for injectable formulations stems from their ability to provide sustained drug release over an extended period, offering advantages such as reduced dosing frequency and enhanced patient compliance. This dominance is particularly evident in therapeutic areas where a consistent and prolonged therapeutic effect is crucial, such as chronic diseases and certain mental health conditions.
Segmentation 2: by Dosage Form
- Other Dosage Forms
Injectables to Dominate the Global Long-Acting Drug Delivery Technologies and Services Market (by Dosage Form)
The injectables segment dominated the global long-acting drug delivery technologies and services market (by dosage forms) in FY2022. Injectables are characterized by sustained and controlled drug release through injection, are gaining prominence across various therapeutic areas, thereby reshaping the landscape of long-acting drug delivery solutions.
Segmentation 3: by Type of Molecule Delivered
- Small Molecules
- Other Molecules
Small Molecules to Dominate the Global Long-Acting Drug Delivery Technologies and Services Market (by Type of Molecule Delivered)
The global long-acting drug delivery technologies and services market (by type of molecule delivered) was dominated by the small molecules segment in FY2022. Small molecules, characterized by their molecular size and structure, are poised to take center stage in this market, driven by their versatility, widespread therapeutic applications, and advancements in drug formulation technologies.
Segmentation 4: by Material Used
- Polymer Based
- Non-Polymer Based
Polymer Based to Dominate the Global Long-Acting Drug Delivery Technologies and Services Market (by Material Used)
The global long-acting drug delivery technologies and services market (by material used) was dominated by the polymer based segment in FY2022. This trend reflects a strategic shift toward the utilization of polymers for the development of long-acting drug delivery systems, driven by their versatility, biocompatibility, and ability to modulate drug release profiles effectively.
Segmentation 5: by End User
- Biopharmaceutical and Life science Companies
- Research and Academics
Biopharmaceutical and Life science Companies to Continue its Dominance in the Global Long-Acting Drug Delivery Technologies and Services Market (by End User)
The Biopharmaceutical and Life science Companies segment accounted for the largest share of the global long-acting drug delivery technologies and services market (by End User) in FY2022. Biopharmaceutical and life science companies are poised to sustain their dominant role in the global long-acting drug delivery technologies and services market as primary end users. This enduring dominance can be attributed to several key factors that highlight the pivotal role these companies play in driving innovation, research, and development within the pharmaceutical industry.
Segmentation 6: by Region
- North America
China dominated the Asia-Pacific market in 2022 with a share of 36.40%. Moreover, Asia-Pacific is expected to register the highest CAGR of 12.70% during the forecast period 2023-2033. The long-acting drug delivery technologies and services market in the Asia-Pacific (APAC) region is witnessing significant growth, marked by increasing demand, technological advancements, and a shifting healthcare landscape. This growth reflects a convergence of factors contributing to the adoption and expansion of long-acting drug delivery solutions across diverse therapeutic areas.
Recent Developments in the Global Long-Acting Drug Delivery Technologies and Services Market
- In August 2023, AMW GmbH opened new European and international markets with its goserelin implant’s first Notified Body Opinion (NBO) report.
- In November, AMW GmbH and AdhexPharma announced a strategic partnership for transdermal delivery systems.
- In February 2023, Innocore Pharmaceuticals, a Dutch pharmaceutical company specializing in the development of polymer-based long-acting injectables, secured funding from the European Regional Development Fund to develop a biodegradable polymer-based microneedle array patch for effective and simplified vaccine administration.
- In March 2023, DelSiTech was granted to develop controlled and sustained-release injectables for the prophylactic HIV vaccine.
Demand – Drivers, Restraints, and Opportunities
Growing adoption of sustained release drugs and technologies: The increasing adoption of sustained release drugs and related technologies is a key driver for the growth of the long-acting drug delivery technologies and services market. This trend reflects a shift toward developing pharmaceutical products that offer prolonged therapeutic effects, reducing the frequency of drug administration and improving patient compliance.
Limitations of long-acting drug delivery technologies: The global long-acting drug delivery technologies and services market faces hindrances due to several limitations associated with these technologies. These challenges impact the widespread adoption and growth of the market. Some key limitations include the potential for a delayed onset of action, restricting their use in situations requiring rapid therapeutic effects.
Introduction of biologics and biosimilars compatibility in technologies: The further evolution of the development of biologics and biosimilars compatible long-acting drug delivery technologies acts as an opportunity for the market. These technologies are expected to open the potential of treating different therapeutic areas that are biologic and biosimilar dependent via long-acting drug delivery systems.
Key Market Players and Competition Synopsis
The long-acting drug delivery technologies and services competition seeks to catalyze innovation in the field of pharmaceuticals by encouraging the development of novel, efficient, and patient-friendly drug delivery systems. This competition aims to address the challenges associated with traditional drug administration methods, such as frequent dosing and patient adherence, by promoting the exploration and implementation of long-acting drug delivery technologies.
The global market for long-acting drug delivery technologies and services is experiencing substantial growth, driven by the escalating prevalence of chronic diseases and technological advancements in drug formulation and delivery systems. With a focus on patient-centric solutions and personalized medicine, these technologies offer a more convenient and efficient means of drug administration, improving patient adherence and treatment outcomes.
Some of the prominent companies in this market are:
- Adare Pharma Solutions
- AMW GmbH
- Camurus AB
- Corium, LLC.
- Creative Biolabs
- Delpor, Inc.
- Durect Corporation
- Hanmi Pharm Co. Ltd.
- Heron Therapeutics, Inc.
- Integral BioSystems
- NANEXA AB
Companies that are not a part of the aforementioned pool have been well-represented across different sections of the report (wherever applicable).
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- Global Long-Acting Drug Delivery Technologies and Services Market