June 25, 2020
According to recent study titled ‘Liposome Drug Delivery Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product; Technology; Application available with Market Study Report LLC, global liposome drug delivery market accrued USD 3594.41 million in 2019 and is projected to amass USD 6992.95 million by the end of the forecast period, registering a healthy CAGR of 8.8% through 2027.
As per the report, rising burden of chronic diseases across the globe, in tandem with surging demand for non-invasive drug delivery solutions and increasing expenditure among pharmaceutical companies for R&D activities are the primary growth drivers of global liposome drug delivery market.
The study cites, advancements in medical science and certain oral drug delivery technologies have made non-invasive drug delivery mode a viable and better alternative to traditional methods of injectables and painful routes of medication administration. Non-invasive drug delivery systems involves administration via topical, oral, transdermal-active, transdermal-passive, trans-mucosal membrane, trans-ocular membrane, and inhaled medication through the alveolar membrane.
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Traditional drug delivery procedures like intravenous, intramuscular, and rectal drug administration cause patient discomfort as they are invasive, in turn, shifting patient inclination towards minimally invasive procedures. High patient compliance, simplified dosing schedules, costs saving benefit through self-administration, and comparatively lower manufacturing costs of non-invasive dosage forms are favoring the demand for non-invasive solutions, thereby fostering the growth of liposome drug delivery industry.
On the contrary, high cost associated with development of drug delivery systems is likely to restrain the industry growth over the forecast timeframe.
Based on the product terrain, liposomal doxorubicin segment held majority share of global liposome drug delivery market in the recent past. High efficacy in cancer treatment, alongside advantages over traditional counterparts in regard to toxicity and targeted drug delivery are encouraging the use of liposomal doxorubicin. In addition, the drug renders notable recovery among patients suffering from HIV-related Kaposi’s sarcoma and multiple myeloma.
As per the regional analysis, global liposome drug delivery market is fragmented into North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Key players operating in global liposome drug delivery market are Novartis AG, Takeda Pharmaceutical Company Limited, Luye Pharma Group, Ipsen Pharma, Johnson & Johnson Services, Inc., Gilead Sciences, Inc., Astellas Pharma, Inc., Celsion, Inc., Pacira BioSciences, Inc., and Acrotech Biopharma LLC.