New York, March 18, 2024 (GLOBE NEWSWIRE) -- The global drug delivery systems market size is slated to expand at ~11% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 433 billion by the end of 2035, up from a revenue of ~USD 42 billion in the year 2022.The size of the market is attributed to the growing availability of different vaccines for various disorders and diseases across the world. The diphtheria-tetanus-pertussis vaccine administration across the world rose from 81% in 2021 to 84% in 2022.
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Further, the increasing incidence of chronic diseases worldwide with the change in lifestyle and eating habits is propelling the market size. Cardiovascular disease is one of the most dangerous chronic diseases worldwide with a high mortality rate of 18 million people suffering every year.
Rising Technological Advancements and New Innovations in the Drug Delivery Systems are Propagating the Growth of the Market
The increasing number of innovations in drug delivery systems and other technological advancements is driving the market size. The development of medications that can be delivered through the skin such as microneedle arrays is fueling the market growth. In 2022 during the Beauty Accelerate, Mineed Technology launched 2-min Detachable Dissolvable Microneedles that activate the skin and reduce wrinkles, acne, and dark spots.
Drug Delivery Systems Market: Regional Overview
Growing Hospital Stays is Proliferating the Market Growth in the North American Region
The North American region market is outlined to register a market share of 35% in the coming years as a result of increasing hospital stays. The best and most effective drug delivery systems improve hospitalizations in the region. According to the Centers for Disease Control and Prevention in 2024, the number of hospitalizations that occurred in the United States because of flu was 290,000.
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The introduction of Novel Drugs and the Adoption of Cutting-Edge Technology are Fueling the Market Expansion in the European Region
The European region market in the year 2035 is projected to set a sustainable market share in the projected time frame. The escalating cutting-edge technology in drug delivery systems and the adoption of new technologies are amplifying the market size. The increasing stakeholders introducing the new medication delivery systems is expanding the market growth. There were nearly 100 nanodrug technology formulations in the
Drug Delivery Systems, Segmentation by Indication
- Diabetes
- Cardiovascular Disease
- Multiple Sclerosis
- Asthma
- COPD
The drug delivery systems market from the diabetes segment is anticipated to secure a significant market share of 33% during the forecast period. The size of the market segment is credited to the growing number of people suffering from diabetes worldwide. As of 2021 data from the World Health Organization (WHO), more than 422 million population were diagnosed with diabetes across the globe.
Drug Delivery Systems, Segmentation by Type
- Transdermal
- Inhalation
- Injectable
The drug delivery systems market from the injectable sector is reckoned to hold a sustainable market share by the end of 2035 owing to the rising awareness of wearable injectable medicines across the world. Also, the increasing number of immunization campaigns that enhance the use of syringes globally is strengthening the market segment size. The percentage of children who got vaccinated for measles in 2022 was 83% rising from the base of 81% in the year 2021 as per the WHO data.
A few of the well-known indsutry leaders in the drug delivery systems market that are profiled by Research Nester are BD (Becton, Dickinson, and Company), Ypsomed, E3D Elcam Drug Delivery Devices, Gerreshelmer AG, Baxter, West Pharmaceutical Services Inc., Metronic Inc., Nemara, Kindeva Drug Delivery, Astra Zeneca, and others.
Recent Development in the Market
- Nemara declared that they got the sponsorship of Celie Gross for the introduction of Wearable Injectors of On Drug Delivery. The unmet need for drug delivery systems for chronic diseases is being met by the newly launched product. The device helps to respond immediately to challenges such as self-administration, connectivity, and biologics faced by chronic disease patients is the reason for this invention.
- Merck KGaA declared its association with InnoCare Pharmaceuticals to facilitate Innocare with the biodegradable polymer platform of SynBiosys. The platform was developed to decrease the challenges in injectable formulations and the partnership helps to create novel and highly potential drugs into the market. The association also allows for a decrease in the administration frequency and extends the release of protein therapeutic products to improve patient compliance.
Read our insightful Blogs and Data-driven Case Studies:
- Novel Drug Delivery Systems - A Lucrative yet Efficacious Medical Advancement!
Get current & future insights of novel drug delivery systems. The blog explores types of drug delivery system and how the NDDS is better and offers regional trend analysis and information about latest developments.
https://www.researchnester.com/blog/healthcare/medical-devices/novel-drug-delivery-systems-lucrative-yet-efficacious-medical-advancement
- Medical Technology Business investing in Enhanced Technology
The case study summarises the integration of new technological advancements in the field of medicine. The detailed survey provides the examination of the right customer segmentation and customer retention.
https://www.researchnester.com/case-study/healthcare/medical-devices/medical-technology-business-investing-in-enhanced-technology
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