(PharmaNewsWire.Com, July 25, 2024 ) InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Long-acting Drug Delivery Technologies Services Market Size, Share & Trends Analysis Report By Technique (Long-Acting Injectables, Long-Acting Hydrogels, Long-Acting Implants, Long-Acting Microneedles, And Nanocrystal Suspensions), Dosage Form (Injectables, Implantable, Topical/Transdermal, Vaginal), Type Of Molecule Delivered (Small Molecules, Biologics), Material Used (Polymer Based And Non-Polymer Based) And End-User (Biopharmaceutical And Life Science Companies And Research And Academics), Region, Market Outlook And Industry Analysis 2031"
Long-acting drug delivery is a novel method of drug delivery that enables a drug to retain its full therapeutic effect for weeks, months, or years following a single administration and to preserve its optimal therapeutic level in the patient's body. In the past two decades, the pharmaceutical industry has undergone a paradigm shift from established drug delivery strategies to the long-acting drug delivery of products to treat a variety of disease indications, including ophthalmic disorders, oncological disorders, neurological disorders, and infectious diseases. The long-acting delivery of drug candidates offers an array of benefits, including increased patient compliance, a reduced dosage requirement, enhanced medication adherence, a reduced risk of failure due to inconsistent utilization, and increased patient convenience. The pharmaceutical and healthcare sectors are significantly affected by the industry impact of long-acting drug delivery technologies and services. A substantial impact is observed in patient outcomes and adherence. Improved patient adherence is facilitated by the implementation of long-acting drug delivery systems, which necessitate less frequent administration, thereby decreasing the probability of missed doses and increasing the overall efficacy of the treatment. This favorable effect on patient outcomes not only improves the quality of healthcare but also has the potential to decrease the costs associated with untreated or suboptimally treated conditions.
List of Prominent Players in the Long-acting Drug Delivery Technologies Services Market:
• 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
Market Dynamics:
Drivers- Increasing adoption of sustained-release drugs and related technologies is the main driver for global growth. Another driver for market growth is a rise in the prevalence of chronic diseases, necessitating more efficient drug delivery systems. Technological advancements that pave the way for innovative drug formulations also fuel the Long-acting drug delivery technologies services market. Integration of biologics and biosimilars into long-acting drug delivery systems is also responsible for driving the market.
Challenges: Despite the positive drivers, the market is confronted with a variety of challenges, such as potential limitations resulting from the delayed onset of action of specific therapeutics. The potential for delayed onset of action is one of the primary limitations, which restricts their use in situations that necessitate rapid therapeutic effects. Scepticism regarding the long-term efficacy and safety of the product impedes its market adoption.
Regional Trends: The Asia Pacific long-acting drug delivery technologies services market is anticipated to register a significant industry share in terms of revenue. It is expected that a considerable compound annual growth rate (CAGR) will be experienced in the near future. The long-acting drug delivery technologies and services market in the Asia-Pacific region is undergoing substantial development, which is characterized by a changing healthcare landscape, technological advancements, and an increase in demand. This growth is indicative of a convergence of factors that have contributed to the adoption and expansion of long-acting drug delivery solutions across a variety of therapeutic areas. This is a result of the major participants in the Long-acting Drug Delivery Technologies Services market adopting new strategies. Furthermore, the global long-acting drug delivery technologies services market is poised for growth due to the growing collaboration among major players and the presence of key market players in the region aiming to penetrate the market.
Recent Developments: • In May 2024, DURECT Corporation revealed that larsucosterol has been received Breakthrough Therapy designation (BTD) by the U.S. Food and Drug Administration (FDA) for the treatment of patients with severe alcohol-associated hepatitis (AH). The Phase 2b AHFIRM trial, a double-blind, placebo-controlled, international, multi-center study that assessed the safety and efficacy of larsucosterol as a treatment for patients with severe AH, provides clinical evidence that supports the BTD.
Segmentation of Long-acting Drug Delivery Technologies Services Market-
By Dosage Form- • Injectables • Implantable • Topical/Transdermal • Vaginal • Other Dosage Forms
By Type of Molecule Delivered- • Small Molecules • Biologics • Other Molecules
By Material Used- • Polymer Based • Non-Polymer Based
By End User- • Biopharmaceutical and Life science Companies • Research and Academics
By Region- North America- • The US • Canada • Mexico Europe- • Germany • The UK • France • Italy • Spain • Rest of Europe Asia-Pacific- • China • Japan • India • South Korea • South East Asia • Rest of Asia Pacific Latin America- • Brazil • Argentina • Rest of Latin America Middle East & Africa- • GCC Countries • South Africa • Rest of Middle East and Africa
About Us: InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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