Yahoo Finance Liposomal Drug Delivery Devices Global Market Report 2022
Major players in the liposomal drug delivery devices market are Fudan-Zhangjiang, Pacira, Johnson and Johnson, Gilead Sciences, Novartis, Luye Pharma, CSPC, Ipsen (Onivyde), Teva Pharmaceutical, and Sigma-Tau Group.
New York, May 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Liposomal Drug Delivery Devices Global Market Report 2022" - https://www.reportlinker.com/p06280905/?utm_source=GNW
The global liposomal drug delivery devices market is expected to grow from $3.72 billion in 2021 to $4.10 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The market is expected to grow to $6.03 billion in 2026 at a compound annual growth rate (CAGR) of 10.1%.
The liposomal drug delivery devices market consists of sales of liposomal drug delivery devices and related services by entities (organizations, sole traders, and partnerships) that manufacture liposomal drug delivery devices.Liposomes are microscopic colloidal spheres that are used to deliver drug molecules to the site of action.
Liposomal drug delivery devices are used in various patient care settings such as hospitals, diagnostic centers, pharmaceutical companies, clinics, and home care settings.
The main types of liposomal drug delivery devices are liposomal doxorubicin, liposomal paclitaxel, liposomal amphotericin B, and others.Liposomal doxorubicin is a kind of chemotherapy drug known as anthracycline wrapped up in a liposome.
It slows or stops the increase of cancer cells by blocking an enzyme called topoisomerase. The applications included are fungal diseases, cancer therapy, pain management, viral vaccines, and photodynamic therapy that are used in hospitals, diagnostic centers, ambulatory surgery centers/clinics, and others.
North America was the largest region in the liposomal drug delivery devices market in 2021.Asia Pacific was the second-largest region in the liposomal drug delivery devices market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The rise in the number of cancer cases across the globe is likely to contribute to the growth of the liposomal drug delivery devices market during the forecast period.Liposomal drug delivery systems are used as targeted therapy for cancer treatment in radiation therapy, chemotherapy, and surgical resection.
According to the American Cancer Society, there were 1.7 million new cases and 0.6 million cancer deaths in 2019 in the USA. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all the new cancer cases. Therefore, the rise in cancer incidence rate globally is anticipated to boost the demand for the liposomal drug delivery devices market over the forthcoming years.
The high cost of liposomal drug delivery devices is expected to limit the growth of the market during the forecast period.The high cost of devices makes liposomal treatment more expensive and unaffordable for patients, thereby hindering the growth of the market.
For instance, according to the Journal of Biotechnology & Biomaterials, lipid/liposomal drug delivery systems are expensive to produce attributing to their high production cost.The high cost of products results from the high cost associated with the raw materials used in lipid excipients and the requirement of expensive equipment to increase manufacturing.
Furthermore, according to the ScienceDirect Journal, liposomal drug delivery is the most expensive treatment for topical disorders such as psoriasis, atopic dermatitis, and skin cancer.
Several big companies are undertaking various strategic initiatives such as collaborations and new product development, which is likely to become a major trend in the liposomal drug delivery devices market.Various companies are coming together to develop liposomal drug delivery systems to expand their product portfolio and operations worldwide.
For instance, in 2021, MindMed is an Israeli creative drug development company, announced the execution of a Memorandum of Understanding regarding the introduction of an exclusive collaborative development program to optimize the supply of particular psychedelic drug candidates, leveraging Nextage’s proprietary Brain Targeting Liposome System (BTLS) supply technology, for which it has a license. In March 2020, FUJIFILM Corporation announced its decision to offer contract services of process development and manufacturing of liposome formulations to its partners seeking drug delivery formulations that are designed to deliver the therapeutic to the affected sites.
In July 2020, Croda International, Plc, a UK-based specialty chemicals company, acquired Avanti Polar Lipids, Inc. for $260 million. The acquisition is expected to expand life sciences products, cGMP production capabilities, and pharmaceutical services for biotechnology, life science, and expand customers for Croda International. Avanti Polar Lipids Inc. is a USA-based company that specializes in lipid-based drug delivery technology for next-generation pharmaceuticals.
The countries covered in the liposomal drug delivery devices market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06280905/?utm_source=GNW
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