The controlled release drug delivery market is projected to exhibit significant growth during the forecast period. Controlled release drug delivery is a form of dosage system that aids in the delivery of the drug to the patients over an extended period of time or at a specific duration. The use of these systems provides continuous delivery of medication or drug throughout the treatment of the patients. These systems make use of drug encapsulating devices from which medication or drug is released for a long period of time at a controlled rate, ranging from days to months. Controlled release drug delivery system offers several benefits including enhanced drug stability, lower dose requirement, minimal side effects, enhanced drug safety and efficacy, enhanced patient compliance, cost-effectiveness, and increased bioavailability.
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Further, increasing awareness regarding the benefits of controlled release drug delivery systems over conventional drug delivery systems are the major factors that are driving the growth of the controlled release drug delivery market across the globe. Moreover, a controlled release drug delivery system facilitates a dose reduction that reduces the risk of overdose in older people. Extended patent protection is another major benefit offered by these systems. A patent expires 20 years from the date of filing. Certain companies will produce and sell lower-priced, generic versions of the drug after a patent expires. Such generic versions may potentially account for up to 90% of a drug's revenues, according to the US Pharmacist, resulting in a sharp reduction in revenue for the original drug company.
The additional advantage of the controlled-release drug reformulations is that the FDA approval process is shorter than it would be for a new drug as it can match the current version of the market. The key market players in the global controlled-release drug delivery market including Alza Corporation (Johnson & Johnson), Corium International Inc., Depomed, Inc., Coating Place, Inc., Pfizer Inc., and SKY Pharmaceuticals Pvt. Ltd. among others are desperately adopting new strategies to increase profitability and in line with this number of companies are bringing in the market, the modified-release formulations of existing drugs due to short pathway for approval while maintaining their market share. New product launches and geographical expansion are the key focus of major market players of the controlled-release drug delivery market.
Global Controlled Release Drug Delivery Market Segmentation
By Type
By Technology
Global Controlled Release Drug Delivery Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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