Market Trends of North America Advanced Drug Delivery Systems Industry
The Oral Drug Delivery System Segment is Expected to Witness Significant Growth Over the Forecast Period
The oral drug delivery system is expected to witness significant growth in the advanced drug delivery systems market over the forecast period owing to the factors such as the growing burden of target diseases such as diabetes, cancer, and others, as well as the new product launches. In addition, several advantages are offered by oral drug delivery, such as dosage flexibility, non-invasiveness, patient compliance, the convenience of drug administration, and fast-acting, over other delivery systems, making it the most preferred route.
Additionally, pharmaceutical companies are paying more attention to the oral-release drug delivery systems as a result of rising costs and difficulties associated with developing, patenting, and marketing new drug entities, with simultaneous recognition of the therapeutic advantages of controlled drug delivery.
The increasing demand for controlled-release formulations and new product introductions in important therapeutic areas such as the central nervous system and cardiovascular, metabolic, and respiratory diseases have sped up the development of improved oral drug delivery systems. For instance, in October 2022, Biora Therapeutics participated in the 12th annual Partnership Opportunities in Drug Delivery Conference in Boston. The session explores the challenges related to the oral delivery of biologics, which is currently limited by barriers in the gastrointestinal tract to systemic absorption of drugs, and the innovations being developed to overcome these barriers for effective oral delivery, including novel ingestible capsules.
Moreover, the increasing company focus on adopting key strategies such as partnerships, agreements, and others increases the availability of advanced drug delivery systems. This is expected to propel the segment's growth. For instance, in May 2022, Rapid Dose Therapeutics Corp. signed several agreements with Oakland Health Limited to support and accelerate the development and commercialization of the Company's QuickStrip system, an oral thin-film delivery, for COVID-19 vaccines. Similarly, in January 2021, Janssen Research and Development, one of the Janssen Pharmaceutical Companies of Johnson and Johnson, in partnership with BioMed X, launched a research project to discover novel transport mechanisms in the human intestinal tract that could be used for oral delivery of diverse therapeutic modalities.
Therefore, owing to the factors such as the advantages offered by the oral drug delivery system over other delivery routes and increasing company activities and initiatives, the studied segment is anticipated to grow over the forecast period.
The United States is Expected to Have the Significant Market Share Over the Forecast Period
The United States is expected to hold a significant share in the advanced drug delivery system market over the forecast period owing to the factors such as the better adoption of improved drug delivery solutions and follow-up of advanced treatment approaches in healthcare. In addition, the growing inclination toward self-administration of drugs, increasing innovations in injectable drug delivery systems, the high adoption rate of new healthcare technologies, and the high prevalence of chronic diseases are also expected to boost market growth over the forecast period.
The growing burden of target diseases such as cancer, neurological diseases, cardiovascular diseases, and others is expected to increase the demand for effective and advanced drug delivery systems. This is anticipated to fuel market growth. For instance, according to an article published in JAMA, in January 2022, about 17.1% of women and 5.6% of men reported having migraine symptoms in 2021 in the United States. Also, as per 2023 statistics published by ACS, about 1,958,310 new cancer cases are expected to be diagnosed among the population in the United States in 2023.
Furthermore, the joint initiatives taken by the market players, non-profit organizations, and government agencies are also propelling the growth of the market in the country. For instance, in March 2022, TFF Pharmaceuticals Inc. entered into a Cooperative Research and Development Agreement (CRADA) with the United States Army Medical Research Institute of Infectious Diseases (USAMRIID). Under the agreement, TFF Pharmaceuticals and USAMRIID evaluate the immune response of a dry powder recombinant Vesicular Stomatitis Virus Severe Acute Respiratory Syndrome Coronavirus-2 Glycoprotein (TFFD-rVSV-SARS2-GP) vaccine formulated using TFF's Thin Film Freezing technology. Such joint initiatives are also expected to propel the growth of the market.
Moreover, the rising company's focus on adopting various strategic initiatives such as collaboration, partnerships, agreements, and others is expected to fuel the market growth in the region over the forecast period. For instance, in February 2022, Aquestive Therapeutics announced FDA clearance of an investigational new drug application (IND) for AQST-109 epinephrine oral film. Also, in December 2021, Wrinkles Schminkles launched self-dissolving microneedle patches, having 1,800 microneedles, that use innovative technology to directly deliver active ingredients deep into the skin. The patch smooths out tiny lines and wrinkles by self-dissolving and releasing the active ingredients into the dermal layers of the skin.
Therefore, owing to the aforementioned factors, such as the high burden of cancer and cardiovascular diseases and growing company activities, the studied market is anticipated to grow over the forecast period.
