Global Long Acting Drug Delivery Technologies Services Market Size is valued at USD 13.7 Bn in 2023 and is predicted to reach USD 30.2 Bn by the year 2031 at a 10.6% CAGR during the forecast period for 2024-2031.
The global long-acting drug delivery technologies and services market is witnessing robust growth due to the demand for improved patient adherence and therapeutic outcomes. Long-acting formulations, including injectables and implants, offer extended drug release, reducing dosing frequency and enhancing efficacy. Polymer-based systems dominate the market, providing versatility in drug release kinetics. Key drivers include the increasing prevalence of chronic diseases, advancements in drug delivery technologies, and a focus on personalized medicine to meet global healthcare needs.
The Long Acting Drug Delivery market is driven by the growing prevalence of chronic diseases, necessitating consistent and long-term treatment solutions. Advances in drug delivery technologies, such as biodegradable polymers and nanoparticle-based systems, enhance long-acting formulations' efficacy and safety. Additionally, growing patient preference for less frequent dosing regimens to improve adherence and convenience is boosting market growth. The trend towards personalized medicine and targeted therapies additionally supports the development of innovative long-acting drug delivery systems, assuring sustained drug release and improved therapeutic outcomes.
The COVID-19 pandemic accelerated the adoption of long-acting drug delivery technologies, driven by the need for extended treatment durations and reduced healthcare visits. This shift increased investment in research and development of these technologies. Additionally, the pandemic highlighted the benefits of sustained drug delivery for managing chronic conditions, boosting demand, and expanding the market. As a result, long-acting drug delivery services saw significant growth, driven by their potential to enhance patient compliance and outcomes.
Competitive Landscape
Some of the major key players in the Long-acting drug delivery technologies services market are:
- Adare Pharma Solutions
- Alkermes
- AMW Gmb
- Camurus AB
- Corium, LLC.
- Creative Biolabs
- Delpor, Inc.
- Durect Corporation
- Hanmi Pharm Co Ltd.
- Heron Therapeutics, Inc.
- Integral BioSystems
- NANEXA AB
- Other Prominent Players
Market Segmentation:
The long-acting drug delivery technologies services market is segmented on the basis of technique, dosage form, type of molecule delivered, material used and end-user. By technique, the market segments are long-acting injectables, long-acting hydrogels, long-acting implants, long-acting microneedles, and nanocrystal suspensions. By dosage form, the segments include injectables, implantable, topical/transdermal, vaginal, and other dosage forms. By type of molecule delivered, the market is divided into small molecules, biologics, and other molecules. On the basis of material used, the segments are polymer based and non-polymer based. By end users the market is biopharmaceutical and life science companies and research and academics.
Based On Technique, The Long-Acting Injectables Segment Is Accounted As A Major Contributor In The Long-Acting Drug Delivery Technologies Services Market.
The global long-acting drug delivery technologies and services market was primarily dominated by the long-acting injectables segment. The growing preference for injectable formulations is due to their capacity to deliver sustained drug release over an extended period, which provides benefits such as improved patient compliance and reduced administration frequency. This dominance is especially apparent in therapeutic areas that require a consistent and long-term therapeutic effect, such as chronic diseases and specific mental health conditions. These formulations offer extended drug release, improving patient adherence and therapeutic outcomes. With advantages such as reduced dosing frequency and enhanced efficacy, long-acting injectables are increasingly preferred by healthcare providers and patients. This segment's growth is driven by the demand for convenient and effective treatment options across various therapeutic areas, shaping the market landscape significantly.
Polymer- Based Segment Witnessed Growth At A Rapid Rate
The global long-acting drug delivery technologies and services market, based on the material used, was predominantly led by polymer-based systems. Polymers offer versatility in drug release kinetics, biocompatibility, and stability, making them a popular choice for long-acting formulations. Their ability to tailor drug release profiles to specific therapeutic needs has propelled their dominance in the market. Polymer-based technologies continue to drive innovation in long-acting drug delivery, catering to diverse therapeutic applications and patient requirements worldwide.
In The Region, The Asia-Pacific Acting Drug Delivery Technologies Services Market Holds A Significant Revenue Share.
The Asia-Pacific Long-acting drug delivery technologies services market is expected to register the highest market share in terms of revenue in the near future. In the Asia Pacific region, the global long-acting drug delivery technologies and services market is witnessing significant growth driven by increasing healthcare expenditure, the growing prevalence of chronic diseases, and a growing ageing population. The adoption of advanced drug delivery technologies, such as long-acting formulations, is on the rise to improve patient compliance and treatment outcomes. Key players are focusing on expanding their regional presence through strategic partnerships and product launches to cater to the evolving healthcare needs of the Asia Pacific market. North America is projected to grow rapidly in the global acting drug delivery technologies services market due to growing concerns about rapid industrialization, government initiatives, and increasing funding in various industries.
Recent Developments:
- In May 2023, Lyndra Therapeutics published data on long-acting oral weekly Risperidone (LYN-005) at the American Society of Clinical Psychopharmacology 2023 Annual Conference.
- In May 2023, the FDA announced the approval of Uzedy™ (risperidone extended-release injectable suspension) for the treatment of adults who have schizophrenia.
Long Acting Drug Delivery Technologies Services Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 13.7 Bn |
|
Revenue Forecast In 2031 |
USD 30.2 Bn |
|
Growth Rate CAGR |
CAGR of 10.6% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Technique, Dosage Form, Type Of Molecule Delivered, Material Used And End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
|
Competitive Landscape |
Adare Pharma Solutions, AMW, Bostal Drug Delivery, Creative Biolabs, For Doz Pharma, Innocore Pharmaceuticals, Integral BioSystems, LATITUDE Pharmaceuticals, Navin Saxena Research and Technology Centre (NSRT), Samyang Biopharm. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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