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At 9.0% CAGR, Drug Delivery Systems Market Worth US $ 71.75 Billion by 2029

November 10th, 2022 Fortune Business Insights Pvt. Ltd. Releases

The global “Drug Delivery Systems Market” is projected to reach USD 71.75 billion by 2029, exhibiting a CAGR of 9.0% during the forecast period. Increasing prevalence of multiple chronic conditions (MCCs) worldwide is expected to be the leading factor driving the growth of this market, finds Fortune Business Insights™ in its report, titled “Drug Delivery Systems Market Size, Share & Industry Analysis, By Type (Inhalation, Transdermal, Injectables and Others), By Device Type (Conventional and Advanced), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others) and Regional Forecast, 2022-2029”. MCCs refer to the existence of more than one chronic condition in an individual. According to a study published by the World Economic Forum (WEF), 33% of adults around the world suffer from a combination of MCCs such as cardiovascular disease with diabetes and depression or even cancer. Precision Drug Delivery Systems can play a crucial role in managing these conditions as they are able to administer drugs at the exact location of the disease. As incidence of chronic conditions rises, the demand for these systems is likely to spike in the coming years.

Request a Sample Copy of the Research Report:

https://www.fortunebusinessinsights.com/enquiry/sample/drug-delivery-systems-market-103070

Regional Analysis

North America to Hold Dominant Lead in the Market; Europe to Follow Closely

Among regions, North America is expected to dominate this market share during the forecast period owing to the active adoption of advanced drug delivery systems, especially for care of the elderly populace. Besides this, increased funding for medical R&D activities is also feeding the growth of this market. In 2019, the market size in the region was at USD 10.65 billion.

As per the report findings, the market value was at USD 26.08 billion in 2019. The report also offers the following information:

  • Comprehensive analysis of the impact of COVID-19 outbreak on the market;
  • Detailed assessment of the market trends, drivers, and restraints;
  • In-depth examination of the regional dynamics and competitive environment shaping the market; and
  • Careful study of all the possible market segments.

Market Opportunity

Coronavirus Pandemic to Create Multiple Opportunities in the Market

The drug delivery systems market growth is set to enter an animated period on account of the exponential spread of the COVID-19 infection. With the absence of a vaccine, healthcare professionals have been forced to rely on curative measures to alleviate the suffering of COVID-19 patients. In such dire circumstances, there is growing reliance on efficient drug delivery mechanisms to provide quick treatment for the disease. Moreover, the situation has generated several innovation opportunities for companies. For instance, in May 2020, UK-based Senzer Pharmaceuticals announced that it was working on creating inhalable targeted antivirals for COVID-19. Similar efforts are being made at the University of Texas at Austin where an innovative inhaled formulation of niclosamide is being developed to treat COVID-19 symptoms. Thus, the outbreak of the coronavirus pandemic has renewed the interest in drug delivery research and innovation.

Quick Buy – Drug Delivery Systems Market Research Report:

https://www.fortunebusinessinsights.com/checkout-page/103070

Global Drug Delivery Systems Market Segmentation :

Segmentation By Type

  • Inhalation
  • Transdermal
  • Injectable
  • Others

By Device Type

  • Conventional
  • Advanced

By Distribution Channels

  • Hospital Pharmacies
  • Retail Pharmacies
  • Others

By Geography

  • North America (U.S. and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • The Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune – 411045, Maharashtra, India.

Phone:

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

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