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The global gastroretentive drug delivery systems market size was USD 4.9 billion in 2022 and is expected to register a rapid revenue CAGR of 9% by 2032.

NEW YORK, NEW YORK, UNITED STATES, April 23, 2023 /EINPresswire.com/ -- During the forecast period, the global Gastroretentive Drug Delivery Systems Market is predicted to see a significant growth rate, with a revenue CAGR of 9%. The prevalence of chronic diseases, such as diabetes, cancer, and gastrointestinal disorders, is a major driver of market revenue growth. Targeted drug delivery and the use of gastroretentive drug delivery devices can regulate the release of medication, which maximizes therapeutic effectiveness, improves patient compliance, and reduces side effects. Furthermore, the aging population, which is more susceptible to chronic diseases, is expected to drive market growth.

The market for gastroretentive drug delivery systems faces several challenges, such as the complexity of the manufacturing process, which increases production costs. However, it is anticipated that the development of cutting-edge medication delivery techniques and new technologies will overcome this obstacle. Increasing investment in Research & Development (R&D) operations by pharmaceutical companies will also present attractive prospects for market participants.

In addition, market revenue growth is being driven by the rising adoption of advanced pharmaceutical drugs, ongoing research activities to improve drug bioavailability, and the introduction of new and effective gastroretentive drugs to the market. Nonetheless, side effects related to drug use and the prolonged need for treatment are significant factors that could impede market revenue growth.

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Segments Covered in the Report –
The global gastroretentive drug delivery systems market size was USD 4.9 billion in 2022 and is expected to register a rapid revenue CAGR of 9% during the forecast period from 2019 to 2032. This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of market trends in each of the segments and sub-segments. The market has been segmented on the basis of technology, application, drug release mechanism, and region.

Based on technology outlook, the market has been segmented into Floating Systems, Mucoadhesive Systems, Expandable Systems, and Other Technologies. By application outlook, the market has been segmented into Gastric Ulcers, Gastroesophageal Reflux Disease (GERD), Motility Disorders, and Other Applications. The drug release mechanism outlook has been segmented into Passive Diffusion Systems, Active Diffusion Systems (Ion Exchange Resins, and Other Mechanisms).

The major factors driving the revenue growth of the gastroretentive drug delivery systems market include increasing prevalence of chronic diseases, such as diabetes, cancer, and gastrointestinal disorders, as well as rising demand for targeted drug delivery. Gastroretentive drug delivery devices help to regulate release of the medication, ensuring maximal therapeutic effectiveness, better patient compliance, and fewer side effects. In addition, the aging population, which is increasingly vulnerable to chronic diseases, is also expected to drive revenue growth of the market.

However, the market is facing some challenges such as the complexity of manufacturing processes, which increases overall cost of production. It is expected that creation of cutting-edge medication delivery methods and new technologies would overcome this obstacle. Moreover, side effects related to use of drugs and prolonged need of treatment are major factors, which could restrain market revenue growth.

The global gastroretentive drug delivery systems market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The major players operating in the market include 3M, AbbVie Inc., AstraZeneca, Boston Scientific Corporation, Gilead Sciences, Inc., GlaxoSmithKline plc, Johnson & Johnson Services, Inc., Pfizer Inc., Sanofi, and Teva Pharmaceutical Industries Ltd. Increasing investments by pharmaceutical companies' in Research & Development (R&D) operations will present attractive prospects for market participants. Furthermore, rising adaptation of advance pharmaceutical drugs, ongoing research activities to enhance bioavailability of drugs, and launch of novel & effective gastroretentive drugs in market, are other factors driving market revenue growth.

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Strategic development:
A partnership was formed between AstraZeneca plc. and Daiichi Sankyo Company, Ltd. on July 27, 2020, to collaborate in the development and commercialization of a drug delivery system for the treatment of breast cancer that is gastroretentive in nature.

Competitive Landscape:
The global gastroretentive drug delivery systems market is highly competitive and comprises of several major players. These companies are investing heavily in research and development operations, mergers and acquisitions, collaborations, and strategic partnerships to expand their product portfolio, increase market share, and strengthen their foothold in the industry.

Some of the key players in the market include AbbVie Inc., Johnson & Johnson Services, Inc., Novartis AG, Pfizer, Inc., GlaxoSmithKline plc, Sanofi S.A., AstraZeneca plc, F. Hoffmann-La Roche AG, Merck & Co., Inc., and Allergan plc. These companies offer a wide range of products and services related to gastroretentive drug delivery systems, including floating systems, mucoadhesive systems, expandable systems, passive and active diffusion systems, and more.

Rising prevalence of chronic diseases, such as cancer, diabetes, and gastrointestinal disorders, is a major factor driving market revenue growth. In addition, increasing demand for targeted drug delivery, favorable government policies and regulations, and rising investments in research and development activities are also contributing to the growth of the market. These companies are expected to maintain their dominant position in the market due to their focus on new product development, collaborations, and strategic acquisitions.

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