Hydrogel-based Drug Delivery System Market: Introduction
- Hydrogels are three-dimensional networks of water-soluble polymers that are cross-linked. Hydrogels can be produced from almost any water-soluble polymer, and these can have a range of chemical compositions and bulk physical characteristics. Moreover, hydrogels can be produced in various physical shapes, such as slabs, microparticles, nanoparticles, coatings, and films. Hence, hydrogels are widely used in clinical practice and experimental medicine for various applications, including tissue engineering & regenerative medicine, diagnostics, cellular immobilization, biomolecule or cell separation, and barrier materials to govern biological adhesions.
- Traditional drug delivery methods are hampered by concerns such as systemic toxicity and repetitive dosage. Hydrogels provide convenient drug delivery carriers, ensuring that these disadvantages are reduced while the therapeutic benefits of the drug are enhanced. Hydrogels have emerged as extremely efficient drug delivery systems owing to delicately adjustable physical characteristics that provide controlled drug release features and the benefits these offer for labile drug protection from degradation.
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Key Drivers, Restraints, and Opportunities of Global Hydrogel-based Drug Delivery System Market
- The global hydrogel-based drug delivery system market is projected to be driven by increase in investment and funding by leading pharmaceutical companies in R&D activities in search of a new drug, delivery methods, and diagnostic. Hydrogel, because of its excellent physical characteristics, has proven to be a promising drug delivery method. The global market is anticipated to be propelled by increase in R&D efforts related to drug delivery systems.
- Hydrogels aid in gaining spatial and temporal control over a drug’s release. Therefore, rise in demand for controlled release drug delivery systems across a range of therapeutic areas is expected to augment the global market during the forecast period. However, high cost of hydrogels, low mechanical strength, and compatibility issues with a limited number of drugs are likely to hamper the growth of the global in the long-term.
- A number of clinical trials on hydrogel-based drug delivery systems are currently underway, and several hydrogel technologies have already received regulatory approval for biomedical applications. This is projected to drive the global market during the forecast period.
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North America to Capture Major Share of Global Hydrogel-based Drug Delivery System Market
- North America is anticipated to account for major share of the global hydrogel-based drug delivery system market. Availability of effective reimbursement that covers the cost of current therapies, presence of hydrogel suppliers in the region, and numerous product launches are expected to boost the growth of the market in the region.
- The hydrogel-based drug delivery system market in Asia Pacific is likely to grow at a rapid pace during the forecast period. This is attributed to improved access to health care, rise in need of better medical treatment in various therapeutic areas, and increase in demand to reduce health care costs.
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Key Players Operating in Global Hydrogel-based Drug Delivery System Market
Leading market players focus on increasing R&D activities and launching new products for specific applications. Major players operating in the global hydrogel-based drug delivery system market are:
- Alliance Pharmaceuticals Limited
- Oraldent Ltd.
- Johnson & Johnson
- Pfizer, Inc.
- Gilead Sciences
- Teva Pharmaceutical Industries Ltd.
- Valeant Pharmaceuticals International, Inc.
- Other prominent players
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