Market Trends of Liposome Drug Delivery Industry
Cancer Therapeutics are Expected to Account for the Largest Market Share During the Forecast Period
Cancer therapeutics are expected to hold a significant share due to the high prevalence of cancer globally and the rising demand for advanced therapeutics. For instance, as per the Australian Institute of Health and Welfare (AIHW) 2022 report, a total of 162,000 new cancer cases were diagnosed in Australia in 2022. Also, as per Canadian Medical Association Journal, May 2022 report, 28,600 new breast cancer were diagnosed in Canada in 2022. The high burden of cancer globally is expected to propel the segment's growth during the forecast period.
Furthermore, according to the research study published in Nanoscale Research Letters in May 2021, liposomes' high flexibility and capacity for chemical modification by conjugating diverse polymers, ligands, and molecules are a big positive for liposomes in cancer therapeutics, and it increases their pharmacological merits and boosts anticancer treatment effectiveness. Further, as per the same source, liposomes can improve the sensitivity, specificity, and persistence of anti-malignant cell agents in the body, and thus, liposomes are used widely in cancer therapeutics. Therefore, with the rising research studies and advantages offered by liposomes in cancer therapeutics, its demand is expected to witness growth during the forecast period.
Therefore, due to the high prevalence of cancer, the advantages of liposome drug delivery methods over others, the cancer therapeutics segment is expected to hold a major share in the liposome drug delivery market during the forecast period of the study.
North America is Expected to Hold a Significant Share in the Market over the Forecast Period
North America is expected to dominate the liposome drug delivery market due to the high prevalence of chronic diseases in the region, the increasing geriatric population, and the launches of innovative products by the market players.
The high burden of chronic diseases in the region is expected to propel the demand for therapeutics, which is expected to drive growth in the North American region. For instance, according to the CDC's 2022 update, the percentage of coronary heart disease for adults aged 18 and over in the United States increased to 4.9% in 2021 as compared to 4.6% in the previous years. Additionally, according to the American Cancer Society statistics of 2023, around 1.9 million new cancer cases are predicted to be diagnosed in the United States in 2023. Liposomes improve the delivery of antigens and other stimulatory molecules to antigen-presenting cells or T cells. Therefore, the demand for liposome drug delivery is rising for CVD and cancer therapeutics.
Furthermore, the rising government funding for research of various diseases in the United States also plays a crucial role in the growth of the market in the region. For instance, the allocated budget for the National Cancer Institute (United States) for FY 2022 was USD 6.9 billion, which was USD 353 million net increase over FY 2021. Thus, the high spending for R&D in the United States is expected to significantly propel the market in the region during the forecast period.
