SAN FRANCISCO, July 21, 2021 /PRNewswire/ -- The global hydrogel-based drug delivery system market size is anticipated to reach USD 10.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.5% from 2021 to 2028. Hydrogels help in achieving spatial and temporal control over the release of the incorporated drug. Therefore, the surging demand for controlled releases drug delivery system across many therapeutic areas is a key factor expected to contribute to market growth during the forecast period.
Key Insights & Findings:
Based on polymer origin, the synthetic segment held the largest proportion of market share in 2020
The hybrid segment is expected to witness the fastest growth rate over the forecast period owing to the development of stimuli-responsive hydrogel technology
The synthetic segment is anticipated to grow fast over the forecast period compared to natural hydrogels due to their high drug loading capacity and improved mechanical strength
Based on delivery route, the ocular segment accounted for the largest revenue share in 2020
The subcutaneous segment is expected to grow at a healthy rate over the forecast period owing to the increasing number of clinical and pre-clinical studies carried out
North America holds the largest revenue share in this market due to the presence of key companies in the region doing R&D on specific hydrogel-based drug delivery systems
In Asia Pacific, the market is expected to grow at the fastest rate over the forecast period due to large patient base, improving healthcare infrastructure, and surging demand for modern therapies
Hydrogel-based drug delivery systems deliver the therapeutic drug directly at the target site and in a sustained manner. This can leverage beneficial outcomes such as improved efficacy, reduced side effects, and decreased dosage for patients and formulators. Hydrogel-based drug delivery systems are appealing and have been used in many branches of medicine such as oncology, pain management, immunology, cardiology, and wound management.
The unique physical properties of hydrogel attract their interest in use for drug delivery applications. The porosity and drug loading capacity of hydrogels can be adjusted by modifying the density of cross-linking. This helps them to protect liable large drug molecules from degradation increasing the half-life. Many research studies have been carried out to examining the delivery of insulin orally using hydrogel systems. As patient compliance issues are frequently reported with injectable insulins such innovation is expected to be a disruptive technology in the diabetes care market.
There are numerous clinical studies underway specific to hydrogel-based drug delivery systems and various hydrogel technologies have already received regulatory approval for biomedical application. However, the technological challenges including the absence of defined regulatory guidelines, chemistry, complex manufacturing and control paraments, and practical adaptability are major roadblocks in the successful implementation in drug delivery use. For instance, the fabrication of hydrogel is complex and varies significantly depending upon the hydrogel systems.
Grand View Research has segmented the global hydrogel-based drug delivery system market on the basis of polymer origin, delivery route, and region:
Hydrogel-based Drug Delivery System Polymer Origin Outlook (Revenue, USD Million, 2016 - 2028)
Hydrogel-based Drug Delivery System Delivery Route Outlook (Revenue, USD Million, 2016 - 2028)
Hydrogel-based Drug Delivery System Region Outlook (Revenue, USD Million, 2016 - 2028)
Middle East & Africa
List of Key Players of Hydrogel-based Drug Delivery System Market
Blairex Laboratories, Inc.
Johnson & Johnson
Bausch and Lomb
Ocular Therapeutix, Inc.
Endo International plc
Tolmar Pharmaceuticals, Inc.
Check out more studies on drug delivery devices, by Grand View Research:
Drug Delivery Devices Market – The global drug delivery devices market size was valued at USD 215.4 billion in 2019 and is anticipated to expand at a CAGR of 6.15% over the forecast period.
Subcutaneous Drug Delivery Devices Market – The global subcutaneous drug delivery devices market size was valued at USD 21.2 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 10.4% from 2020 to 2027.
Transdermal Drug Delivery System Market – The global Transdermal Drug Delivery System Market accounted for USD 31.6 billion in 2015. The market is majorly driven by the increasing prevalence of chronic diseases, where conventional drug delivery systems, such as oral drugs have lower potency due to the hepatic first-pass metabolism.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.