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The worldwide market for long-acting drug delivery technologies and services is experiencing notable growth. Marked by a substantial surge in demand and widespread adoption, this phase underscores the increasing acknowledgment and embrace of long-acting drug delivery solutions.
The global long-acting drug delivery technologies and services market is projected to reach $36.82 billion by 2033 from $11.41 billion in 2022, growing at a CAGR of 11.31% during the forecast period 2023-2033.
The market’s course indicates a profound influence on pharmaceutical care, where companies proficient in navigating regulatory challenges and embracing technological advancements are positioned for substantial success.
BIS Research, a leading market research firm, has released a report titled long-acting drug delivery technologies and services market which discusses the challenges, growth factors, and future opportunities driving the remarkable market growth.
The long-acting drug delivery technologies and services market report focuses on several segments such as technique, dosage form, type of molecule delivered, material used, end user, region, etc.
Segments that dominated the long-acting drug delivery technologies and services market in 2022 are long-acting injectables (technique), injectables (dosage form), small molecules (type of molecule delivered), polymer based (material used), Biopharmaceutical and Life science Companies (end user), and China by region.
The worldwide market for long-acting drug delivery technologies and services is undergoing significant expansion, propelled by the increasing prevalence of chronic diseases and advancements in drug formulation and delivery systems.
Some major companies operating in the long-acting drug delivery technologies and services market are:
Regulatory advancements, ongoing research, and collaboration between industry leaders are contributing factors in the growth of the long-acting drug delivery technologies and services market.
The growing embrace of sustained-release drugs and associated technologies stands as a pivotal factor propelling the expansion of the long-acting drug delivery technologies and services market.
Moreover, the long-acting drug delivery technologies and services market on a global scale encounters obstacles attributed to various limitations associated with these technologies.
The ongoing advancement in the development of long-acting drug delivery technologies compatible with biologics and biosimilars presents a potential opportunity for the market.
BIS principal analyst suggests: “The global long-acting drug delivery technologies and services market is experiencing significant growth driven by a confluence of factors. One of the primary drivers is the increasing emphasis on patient compliance, as long-acting formulations offer the advantage of reduced dosing frequency, enhancing adherence to treatment regimens. Therapeutically, these technologies provide benefits such as enhanced efficacy, minimized side effects, and improved disease management, contributing to their rising demand.”
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.
Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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