The Latin America, Middle East and Africa Controlled Release Drug Delivery Market would witness market growth of 12.8% CAGR during the forecast period (2023-2030).
Because of the sharp increase in patients, it is anticipated that demand for controlled release medication delivery systems will increase. The risk of overdosing in older patients is reduced because of controlled release drug delivery, which also allows for dose reduction. Dysphagia in the elderly or the bad taste of children's treatments or medications are intended to spur the adoption of the controlled release drug delivery system.
The market is being driven by factors such as an increase in the number of abbreviated new drug application (ANDA) and new drug applications (NDA), increased research and development techniques, the presence of key market players, and an expanding patient base. The market is also anticipated to increase as key players increasingly focus on growing their businesses as a result of cheap manufacturing costs.
In 2021, 73 million people aged between 20–79 in the Middle East and North Africa region had diabetes, according to the International Diabetes Federation (IDF). Moreover, it is expected that by 2045, 136 million people will live with diabetes in this region. Approximately 27 million individuals with diabetes are undiagnosed, making up 38% of all adult patients with the condition. In this region, 48 million adults have impaired glucose tolerance (IGT), which increases the risk of developing type 2 diabetes.
About 796,000 people died in 2021 as a result of diabetes. Because of these, a greater emphasis is placed on developing transdermal targeted delivery patches for diabetic patients of the region. The demand for therapeutic interventions in managing conditions like diabetes is therefore increased As a result, the LAMEA region's market is expanding due to the presence of a sizable patient base, as well as improved healthcare facilities and disposable incomes.
The Brazil market dominated the LAMEA Controlled Release Drug Delivery Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,617.3 million by 2030. The Argentina market is showcasing a CAGR of 13.4% during (2023 - 2030). Additionally, The UAE market would exhibit a CAGR of 12.5% during (2023 - 2030).
Based on Release Mechanism, the market is segmented into Feedback Regulated Drug Delivery Systems, Activation-modulated Drug Delivery Systems, Chemically Activated, Polymer Based Systems and Micro Reservoir Partition Controlled Drug Delivery Systems. Based on Technology, the market is segmented into Targeted Delivery, Coacervation, Micro Encapsulation, Transdermal, Implants, Wurster Technique and Others. Based on Application, the market is segmented into Oral Controlled-drug delivery Systems, Metered Dose Inhalers, Injectable, Transdermal & Ocular Patches and Infusion Pumps & Drug Eluting Stents. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Controlled Release Drug Delivery Market is Projected to reach USD 106.3 Billion by 2030, at a CAGR of 10.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson & Johnson, Merck & Co., Inc., Alkermes PLC, Pfizer, Inc., Assertio Holdings, Inc. (Assertio Therapeutics, Inc.), Lonza Group AG (Capsugel), Colorcon, Inc. (BPSI Holdings LLC.), Corium, LLC (Gurnet Point Capital), Adare Pharma Solutions, and Coating Place, Inc.
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