Growing Chronic Disease Prevalence Drives Liposome Drug Delivery Market Growth
Liposome technology has great potentials as drug delivery system and revolutionised the current drug delivery system. Effective delivery of drugs via liposomes in the treatment or prevention of disease is the aim of numerous researchers worldwide. Therapies include those for cancers, microbial infections, hormone and enzyme deficiencies, metal detoxification, gene deficiency or malfunction, as well as vaccines. Liposome has unique characteristics such as biocompatibility, biodegradability, good encapsulation efficiency for both hydrophobic and hydrophilic drugs. The growing understanding of patient heterogeneity, the wide range of individual requirements within each therapy, awareness of the importance of controlled release distribution, and drug availability in the body are some of the factors driving the growth of targeted liposome drug delivery market. With advancements in medical research and some oral drug delivery technologies, non-invasive drug delivery systems are now ready to compete with traditional injectable and painful medication delivery methods.
Liposomal drug delivery systems will expand dramatically during the forecast period because of the rising chronic disease frequency and R&D activity. Liposomal drug administration has several advantages, including improved pharmacokinetics and pharmacodynamics, increased therapeutic efficacy, and decreased toxicity, making these delivery systems appropriate for patients suffering from various chronic illnesses. Generally incurable and ongoing, chronic diseases affect approximately 157 million Americans, with 81 million people having multiple conditions and representing more than 40% of the total population of the US. With the growing number of chronic diseases, the demand for liposomal drug delivery systems will also grow, in turn boosting the growth of liposome drug delivery market.
Cancer is one of the top causes of death in the world's population. Polymers play an essential role in developing nanoparticulate carriers for cancer therapy, and liposomal drug delivery systems substantially impact cancer treatment. In 2020, there will be an estimated 18.1 million cancer cases worldwide. Men made up 9.3 million cases, while women made up 8.8 million. Liposomal drug delivery methods have a longer half-life, enhanced bio-distribution, prolonged circulation time of the medication, regulated and sustained release of the drug, diversity in route of administration, the higher intercellular concentration of the drug, and many other benefits, thus increasing its use for chronic disease treatment.
Liposomal Doxorubicin Sought-after with Improved Efficacy Against Various Chronic Diseases
Liposomal doxorubicin will account for the most significant share by-product in the forecast period because of the drug's excellent efficacy in treating cancer. The segment is expanding due to increased breast and ovarian cancer cases and advanced knowledge of the advantages of liposomal doxorubicin formulation over regular doxorubicin. With the changes in the sedentary lifestyle and stressful schedules of the working population, the sales of liposomal doxorubicin pharmaceuticals are increasing, fostering the prevalence of these diseases, and favourably boosting the prospects of liposomal doxorubicin. Other factors projected to drive liposomal doxorubicin sales in liposome drug delivery market include significant improvements in healthcare infrastructure, particularly in developing nations, and extensive oncology research and development (R&D) programs.
North America will Acquire Major Shares due to the Growing Prevalence of Chronic Diseases.
North America will continue to hold the largest market share on account of the increased prevalence of cancer, and improved healthcare facilities. The liposome drug delivery market is expanding primarily due to the increased prevalence of chronic diseases, rising need for non-invasive drug delivery systems, and rising R&D expenditures by pharmaceutical companies, which are some of the key driving forces for liposome drug delivery market. Most companies in the liposome drug delivery product manufacturing are currently working on several therapeutic segments to combat the impact of pandemic crisis. Research activities are projected to accelerate with the ability to treat many ailments.
Within North America, the United States dominates the global liposome drug delivery market. Over the forecast period, the increasing prevalence of cancer and the increasing approvals of generic liposomal doxorubicin products are expected to fuel the nation’s market growth. In 2022, the United States is expected to have 1,918,030 new cancer cases and 609,360 cancer deaths, with lung cancer the leading cause of cancer death, accounting for nearly 350 fatalities. The rising approval of generic liposomal doxorubicin products by regulatory agencies is likely to raise demand for liposomal doxorubicin, driving the growth of liposome drug delivery market in the US.
The Asia Pacific liposome drug delivery market is expected to increase during the forecast period. The market expansion is attributable to many main driving factors, including the population's high prevalence of chronic diseases, an increase in demand for non-invasive drug delivery systems, and pharmaceutical companies' increased investments in R&D. According to the survey, over 75 million persons over the age of 60 in India suffer from some chronic ailment. At the same time, 27 percent of the elderly have multi-morbidities, 40 percent have one or more disabilities, and 20 percent have mental health concerns. This region is experiencing a surge as big corporations actively participate in expanding their influence through joint ventures, partnerships, collaborations, and agreements.
Global Liposome Drug Delivery Market: Competitive Landscape
Participants in the market are introducing new products and forming collaborations, alliances, and partnership agreements. In November 2021, Pacira BioSciences, Inc, the industry leader in non-opioid pain management and regenerative health solutions, completed its previously announced purchase of Flexion Therapeutics, Inc. In June 2020, The United States Food and Drug Administration (FDA) granted Ipsen Pharma Fast Track designation for the investigational use of liposomal irinotecan (ONIVYDE) in combination with oxaliplatin (OX) and 5-fluorouracil/leucovorin (5-FU/LV).
A few of the players in the liposome drug delivery market include Spectrum Pharmaceuticals, Inc., Astellas Pharma, Inc., Gilead Sciences, Inc., Celsion Corporation, Ipsen Pharma, and Pacira BioSciences, Inc., Luye Pharma Group, Takeda Pharmaceutical Company Limited, Novartis AG, and Johnson & Johnson.
Global Liposome Drug Delivery Market is Segmented as Below:
Key elements included in the study: Global Liposome Drug Delivery Market
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