February 29, 2024

The Growing Need For Personalization In Cancer Treatment Drives The Targeted Drug Delivery Market

Targeted drug delivery aims to selectively deliver therapeutic agents to diseased cells and tissues while preventing exposure to healthy cells and tissues. Targeted drug delivery systems help achieve the goal of personalization in cancer treatment by enhancing the bioavailability and efficacy of anti-cancer drugs at tumors. Drug carriers shield the drug payload until it reaches the targeted site, allowing site-specific drug release and minimizing systemic side effects. Common targeted drug delivery approaches include liposomes, polymeric and protein-based nanoparticles, antibody drug conjugates, and aptamer targeted therapies. The global targeted drug delivery market offers a means to minimize toxic side effects of chemotherapy and enable personalized treatment approaches through controlled drug release.

The Targeted Drug Delivery Market is estimated to be valued at Us$ 106.3 BILLION in 2024 and is expected to exhibit a Cagr OF 2.1% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Growing demand for personalized medicine is a key trend in the targeted drug delivery market. With advances in understanding disease heterogeneity, there is growing need for customized treatment strategies that address the specificities of an individual patient’s condition. Targeted drug delivery enables design of personalized treatment regimens by facilitating site-specific drug release and enhancing bioavailability of drugs in diseased tissues. Leading pharmaceutical companies are investing in development of targeted drug delivery approaches such as antibody drug conjugates and liposomal formulations of anti-cancer drugs to leverage opportunities in personalized oncology and other disease therapies.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low in the targeted drug delivery market as it requires high research and developmental costs to develop new drug delivery systems. Also, established companies have strong brand recognition and distribution networks.

Bargaining power of buyers: The bargaining power of buyers is high due to the presence of a large number of existing as well as emerging players offering alternative drug delivery technologies. Buyers can negotiate on price and quality.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of substitutes. However, suppliers need to adhere to strict regulatory guidelines.

Threat of new substitutes: The threat of new substitutes is high as researchers are continuously finding new methods of targeted drug delivery such as polymeric nanoparticles, liposomes, and microemulsions. These substitutes can affect the sales of existing delivery technologies.

Competitive rivalry: The competitive rivalry is high owing to the presence of many global as well as regional players competing on the basis of innovation, cost, quality, and services.

Key Takeaways

The Global Targeted Drug Delivery Market  Demand  is expected to witness high growth over the forecast period. The Targeted Drug Delivery Market is estimated to be valued at US$ 106.3 billion in 2024 and is expected to exhibit a CAGR of 2.1% over the forecast period 2023 to 2030.

North America is expected to dominate the market during the forecast period owing to the presence of major players, growing R&D activities, and favorable reimbursement policies.
Regional analysis: Europe is expected to grow at a significant rate during the forecast period due to advancements in healthcare infrastructure and increasing government support for research activities. The Asia Pacific targeted drug delivery market will grow fastest due to rising healthcare spending, growing contract manufacturing, and the presence of low-cost manufacturing facilities.

 

Key players:

 

Key players operating in the targeted drug delivery market are Novartis, Amgen, Roche, Pfizer, and AstraZeneca. They are focusing on collaborations and partnerships for new product development.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it