The global Drug
Delivery Devices Market size is expected to reach USD 345.8 billion by 2027, expanding at
a CAGR of 6.15% over the forecast period, according to a new report by Grand
View Research, Inc. Growing prevalence of cancer, neurological disorders,
diabetes, and other infectious diseases is expected to drive the adoption of
drug delivery devices in the coming years. In addition, increasing product
launches for various applications such as ophthalmology, neurology, and
oncology are also expected to propel the market growth. Growing adoption of
wearable drug delivery devices for its usage in home-care settings is also
expected to drive the market.
Hydrogel is one of the
prominent drug delivery vehicles and includes supramolecular hydrogels, DNA
hydrogels, bio-inspired hydrogels, multi-functional and stimuli-responsive
hydrogels. These advanced hydrogels are used for various applications such as
ophthalmic, oral, intestinal, cardiac illness, and cancer. Similarly, other
vehicles such as liposomes, nanoparticles, and micelle are also being developed
for various applications.
Key players present in the
market are adopting various strategies such as mergers and acquisitions,
partnership, and collaborations to develop and improve drug delivery devices
for various applications. Moreover, end-users are also forming partnerships
with companies to acquire drug delivery devices for training purpose and
research studies. In addition, market players are also forming distribution
agreement to expand the reach of their products. Therefore, alliances made by
the players are expected to drive the market growth during the forecast period.
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Drug Delivery Devices Market Report Highlights
·
The oral route of
administration segment held largest share in 2019 mainly due to its easy usage
and low cost
·
The injectable route of
administration segment is expected to experience the fastest growth during the
forecast period mainly due to growing advancements in injectable devices for
accuracy
·
Drug delivery devices for
central nervous system disorders are expected to experience fastest growth rate
mainly due to growing development of blood brain barrier drug delivery devices
for the treatment of neurological disorders
·
The liposome vehicle held
segment the largest share in 2019 due to its non-toxic nature and biocompatible
design for proper drug delivery
·
The nanoparticle vehicle
segment is expected to experience fastest growth rate during the forecast
period mainly because these vehicles can carry various macromolecular drugs to
the affected site for treatment
·
In 2019, North America
dominated the global space with the largest revenue share owing to the adoption
of drug delivery devices in the region and increasing product launches in the
countries such as U.S.
·
Asia Pacific is expected to
grow at fastest growth rate during the forecast period mainly due to growing
development and advancement in drug delivery devices in the region and presence
of large patient pool.
·
Key players in the drug
delivery devices market include Pfizer, Inc.; Johnson & Johnson Services,
Inc.; F. Hoffmann-La Roche, Ltd.; Novartis AG; BD; Bayer AG; uniQure N.V.; and
Sibiono GeneTech Co. Ltd.
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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