New York, USA, Nov. 16, 2022 (GLOBE NEWSWIRE) -- The Global Drug Delivery Devices Market is expected to Register an Immense Growth at a CAGR of 7.90% During the Forecast Period (2019–2027) | DelveInsight
The global drug delivery devices market is anticipated to grow positively due to the rising number of diabetes patients, the rising prevalence of cancer patients, the increasing frequency of both chronic and acute diseases, the rising growth of biologics, and the increasing technological advancements associated with drug delivery devices.
DelveInsight’s Drug Delivery Devices Market Insights report provides the current and forecast market analysis, forthcoming device innovation, individual leading drug delivery devices companies’ market shares, challenges, drug delivery devices market drivers, barriers, and trends, and key drug delivery devices companies in the market.
Key Takeaways from the Drug Delivery Devices Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global drug delivery devices market during the forecast period.
- Notable drug delivery devices companies such as Pfizer, Inc, Johnson & Johnson Services, Inc, F. Hoffmann-La Roche, Ltd, Novartis AG, 3M Bayer AG, uniQure N.V., Shenzhen (SiBiono) GeneTech Co. Ltd (Hubei Tongji Benda Ebei Pharmaceuticals), Antares Pharma, Inc, GlaxoSmithKline plc, AstraZeneca PLC, Becton Dickinson, Boehringer Ingelheim group, Consort Medical plc (Recipharm Group), Insulet Corporation, Medtronic Plc, Sulzer Ltd., West Pharmaceuticals Services, Inc, Generex Biotechnology, Panacea Pharmaceuticals Inc., Aptar Pharma, Koninklijke Philips N.V., Nemera, Biocorp Production., and Eli Lilly and Co., and several others are currently operating in the drug delivery devices market.
- On 27 October 2022, Vivera announced that its exclusive global license to the novel TABMELT® platform for pharmaceutical use had been extended in Israel.
- On 26 October 2022, using the power of naturally occurring extracellular vesicles, Mercury Bio developed patent-pending technology that will enable highly targeted delivery of both RNA therapeutics and small-molecule drugs to diseased cells.
- On 10 October 2022, ALCOR and Merck KGaA agreed to develop and supply a specific version of the Mallya device as an accessory for one of Merck KGaA, Darmstadt, Germany’s drug delivery devices.
- In June 2022, ADQ, an Abu Dhabi-based investment and holding company, entered into a definitive agreement to acquire Birgi Mefar Group (BMG), one of Turkey’s leading producers of sterile injectable products. BMG is a production service provider for sterile injectable products, namely vials and prefilled syringes used for vaccines.
- In March 2022, Novartis’ Sandoz, a Swiss multinational pharmaceutical corporation, acquired, UK based delivery device development company, Coalesce Product Development Limited, developing a portfolio of inhalation devices. This includes new versions of pressurized metered dose inhalers (pMDI), breath-actuated inhalers (BAI), and pre-metered dry powder inhalers (DPI).
- In February 2022, Aptar Pharma, a global leader in drug delivery systems, services, and active material science solutions, announced the launch of HeroTracker® Sense, a unique digital respiratory health solution that turns a normal metered dosage inhaler (pMDI) into a smart linked healthcare device.
To read more about the latest highlights related to the drug delivery devices market, get a snapshot of the key highlights entailed in the Global Drug Delivery Devices Market Report
Drug Delivery Devices Overview
The method or process of administering a pharmaceutical compound to achieve a therapeutic effect in humans or animals is known as drug delivery. Drug delivery devices are specialized tools that are used to administer a drug or therapeutic agent through a specific route of administration. These devices are used in conjunction with one or more medical treatments.
Drug delivery has become an important topic in the healthcare industry in recent decades, as a drug’s delivery mechanism can affect its efficacy. As a result, determining the best drug delivery system for a specific medication can perfectly optimize the drug within the body.
Furthermore, a drug delivery system can be defined as a formulation or device that introduces a drug into the body for administration and absorption. The goal of using a drug delivery system is to deliver a therapeutic amount of medication while improving safety and efficacy by controlling the location, rate, and timing of drug release in the body.
Drug Delivery Devices Market Insights
As per the DelveInsight assessment, North America is expected to account for the largest drug delivery devices market share among all regions. This is due to the importance of key growth factors such as the prevalence of chronic diseases across the region, rising research and development as a result of the increasing prevalence of chronic disorders, rising use of biologics, rising use of medication delivery systems in home-care settings, growing approvals for drug delivery devices in the North American region, and the government’s increased focus on providing access to healthcare services.
To know more about why North America is leading the market growth in the drug delivery devices and therapeutics systems market, get a snapshot of the Drug Delivery Device Manufacturers
Drug Delivery Devices Market Dynamics
Several factors are driving up product demand in the drug delivery devices market. One important factor is the increasing prevalence of diabetes patients. The increased use of drug delivery devices in the treatment of diabetes can be attributed to the rising prevalence of diabetes around the world.
However, several stringent regulatory policies pertaining to drug delivery devices and lower patient adoption of drug delivery devices may limit the drug delivery devices market growth.
Additionally, the drug delivery device market has benefited from the emergence of COVID-19 infections. Although the impact of the COVID-19 pandemic was unexpected and devastating, the demand for drug delivery devices was positively influenced by the pandemic, owing to an increase in the number of vaccinations and an increase in the number of COVID-19 cases due to the pandemic’s second wave. The rapidly increasing number of COVID-19 cases and the increasing pressure on the government to increase the number of vaccinations to immunize the population against COVID-19 has increased demand for drug delivery devices used to deliver vaccination drugs. As the demand for COVID-19 vaccination grows, so does patient adoption of drug delivery devices.
Get a sneak peek at the drug delivery devices market dynamics @Drug Delivery Devices Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2019–2027 |
| Base Year | 2021 |
| Market CAGR | 7.90% |
| Key Drug Delivery Devices Companies | Pfizer, Inc, Johnson & Johnson Services, Inc, F. Hoffmann-La Roche, Ltd, Novartis AG, 3M Bayer AG, uniQure N.V., Shenzhen (SiBiono) GeneTech Co. Ltd (Hubei Tongji Benda Ebei Pharmaceuticals), Antares Pharma, Inc, GlaxoSmithKline plc, AstraZeneca PLC, Becton Dickinson, Boehringer Ingelheim group, Consort Medical plc (Recipharm Group), Insulet Corporation, Medtronic Plc, Sulzer Ltd., West Pharmaceuticals Services, Inc, Generex Biotechnology, Panacea Pharmaceuticals Inc., Aptar Pharma, Koninklijke Philips N.V., Nemera, Biocorp Production., and Eli Lilly and Co., among others |
Drug Delivery Devices Market Assessment
- Drug Delivery Devices Market Segmentation
- Market Segmentation By Types of Drug Delivery Devices: Implantable Drug Delivery Devices, Inhalers And Nebulizers, Safety Syringes, Transdermal Patches, and Others
- Market Segmentation By Route of Administration: Oral, Inhalation, Transdermal, Injectable, Ocular, and Others
- Market Segmentation By Application: Oncology, Infectious Diseases, Respiratory Diseases, Diabetes, and Others
- Market Segmentation By End User: Hospitals, Ambulatory Surgical Centers, and Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the drug delivery devices market are set to emerge as the trendsetter explore @Drug Delivery Devices Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Drug Delivery Devices Market |
| 7 | Drug Delivery Devices Market Layout |
| 8 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Drug Delivery Devices Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | About DelveInsight |
Interested in knowing the drug delivery devices market by 2027? Click to get a snapshot of the Drug Delivery Medical Devices
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