DUBLIN--(BUSINESS WIRE)--The "Liposome Drug Delivery Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product; Application" report has been added to ResearchAndMarkets.com's offering.
The liposome drug delivery market is expected to reach US$ 6,992.95 million by 2027 from US$ 3,594.41 million in 2019. The market is estimated to grow at a CAGR of 8.8% from 2020 to 2027.
The growth of the market is attributed to a few key driving factors such as increasing prevalence of chronic diseases, growing demand for noninvasive drug delivery solutions, increasing R&D expenditures in pharmaceutical companies. However, high cost involved in the development of drug delivery systems is expected to obstruct the growth of the market to a certain extent during the forecast period.
With the improvements in medical science and certain oral drug delivery technologies, the noninvasive mode of drug delivery system is now ready to compete with traditional methods of injectable and painful routes of drug delivery. The non-invasive drug delivery systems include drug delivery via oral, topical, transdermal-active (device-aided enhanced penetration), transdermal-passive, trans-ocular membrane, trans-mucosal membrane, and via alveolar membrane from inhaled medication. Patient compliance has been found to be much higher when administrated by noninvasive routes due to decreased pain involved in drug delivery. Therefore, these techniques are considered to be a preferred mode of drug delivery.
The traditional drug delivery techniques, such as intramuscular, intravenous, and rectal drug administration are not preferred by certain patient populations owing to negative aspects associated with the traditional drug delivery techniques. The noninvasive method of drug delivery system has simplified dosing schedules and is accustomed to the patients. Moreover, noninvasive drug delivery system can significantly reduce the cost of clinical use because of self-administration of the drugs by the patients. The manufacturing costs are also comparatively less for noninvasive dosage forms than injections. Thus, due to advantages offered by noninvasive drug delivery devices, the liposome drug delivery market is expected to witness growth during the forecast period.
The global liposome drug delivery market is segmented into product, technology, application, and geography. The liposome drug delivery market, by product, is segmented into liposomal doxorubicin, liposomal paclitaxel, liposomal amphotericin B, and others. In 2019, the liposomal doxorubicin accounted for the largest share by product owing to the high efficacy of the drug exhibited in the treatment of cancer.
Moreover, the liposomal doxorubicin is beneficial over its traditional counterparts in terms of toxicity and targeted drug delivery. The drug also exhibits significant recovery among patients suffering with HIV-related Kaposi's sarcoma and multiple myeloma. Based on technology, the liposome drug delivery market is segmented into stealth liposome technology, non-PEGylated liposome technology, depofoam liposome technology. Based on application, the liposome drug delivery market is segmented into fungal diseases, cancer therapy, pain management, viral vaccines, and photodynamic therapy.
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- Rising prevalence of Chronic Diseases
- Growing Demand for Non-Invasive Drug Delivery Devices
- Increasing R&D Expenditures in Pharmaceutical Companies
- High Cost Involved in Development of Drug Delivery Systems
- Development of New Lipid Composition for Stability and Optimization of Drugs
- Increasing Popularity of Liposomes in Drug Delivery
- Takeda Pharmaceutical Company Limited
- Novartis AG
- Luye Pharma Group
- Ipsen Pharma
- Celsion Inc.
- Gilead Sciences, Inc.
- Astellas Pharma, Inc.
- Johnson & Johnson Services, Inc.
- Acrotech Biopharma, Inc.
- Pacira Biosciences, Inc.
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