• Popular
    • Medicine
    • Radiology
    • Cardiology
    • Surgery
    • Nanomedicine
    • Military Medicine
    • Rehab
  • Categories
    • Exclusive
    • A-D
      • Anesthesiology
      • Art
      • Cardiac Surgery
      • Cardiology
      • Critical Care
      • Dentistry
      • Dermatology
      • Diagnostics
    • E-I
      • Emergency Medicine
      • ENT
      • Genetics
      • Geriatrics
      • GI
      • Informatics
    • M-N
      • Medicine
      • Military Medicine
      • Nanomedicine
      • Net News
      • Neurology
      • Neurosurgery
      • Nuclear Medicine
    • O-P
      • Ob/Gyn
      • Oncology
      • Ophthalmology
      • Orthopedic Surgery
      • Pathology
      • Pediatrics
      • Plastic Surgery
      • Psychiatry
      • Public Health
    • R-V
      • Radiation Oncology
      • Radiology
      • Rehab
      • Reproductive Medicine
      • Space Medicine
      • Sports Medicine
      • Surgery
      • Thoracic Surgery
      • Urology
      • Vascular Surgery
  • SUBSCRIBE
  • Submit PR
  • About
  • Follow
    • Facebook
    • Twitter
    • Linkedin
    • Youtube
    • Instagram
    • RSS
  • Submit PR
  • Log in
Medgadget
Medgadget
  • Popular
    • Medicine
      Flexible Sensors Detect Heavy Metals in Sweat

      Flexible Sensors Detect Heavy Metals in Sweat

      Nanopore Sensor to Study Protein Aggregation in Neurodegeneration

      Nanopore Sensor to Study Protein Aggregation in Neurodegeneration

      Biobots Use Optogenetic Muscle Actuators for Movement

      Biobots Use Optogenetic Muscle Actuators for Movement

      Exciting Medtech at the Healthcareᐩ Expo Taiwan

      Exciting Medtech at the Healthcareᐩ Expo Taiwan

    • Radiology
      Ultrasound Tornado Rapidly Disrupts Blood Clots

      Ultrasound Tornado Rapidly Disrupts Blood Clots

      Exciting Medtech at the Healthcareᐩ Expo Taiwan

      Exciting Medtech at the Healthcareᐩ Expo Taiwan

      Fluorescence Imaging System Illuminates Tumor Depth

      Fluorescence Imaging System Illuminates Tumor Depth

      Soft Robot Grows Like a Plant to Travel Through Tight Spaces

      Soft Robot Grows Like a Plant to Travel Through Tight Spaces

    • Cardiology
      Belt Monitors Heart Failure Patients

      Belt Monitors Heart Failure Patients

      Camera Measures Blood Pressure with Quick Look

      Camera Measures Blood Pressure with Quick Look

      Monitoring Congestive Heart Failure Through Speech: Interview with Tamir Tal, CEO of Cordio Medical

      Monitoring Congestive Heart Failure Through Speech: Interview with Tamir Tal, CEO of Cordio Medical

      Device Measures Hemoglobin More Accurately in Dark Skin

      Device Measures Hemoglobin More Accurately in Dark Skin

    • Surgery
      Microneedle Bandage for Hemostatic Control

      Microneedle Bandage for Hemostatic Control

      Biobots Use Optogenetic Muscle Actuators for Movement

      Biobots Use Optogenetic Muscle Actuators for Movement

      Implantable Device Adheres to Muscle, Treats Atrophy

      Implantable Device Adheres to Muscle, Treats Atrophy

      Device Measures Hemoglobin More Accurately in Dark Skin

      Device Measures Hemoglobin More Accurately in Dark Skin

    • Nanomedicine
      Extra Hot Nanoparticles for Cancer Therapy

      Extra Hot Nanoparticles for Cancer Therapy

      Making Tumors Tastier for the Immune System

      Making Tumors Tastier for the Immune System

      Improved Membrane Coating for Anti-Cancer Nanoparticles

      Improved Membrane Coating for Anti-Cancer Nanoparticles

      Magnetic Bacteria Target Tumors

      Magnetic Bacteria Target Tumors

    • Military Medicine
      Device Measures Hemoglobin More Accurately in Dark Skin

      Device Measures Hemoglobin More Accurately in Dark Skin

      Fingertip Sensor Measures Lithium Levels in Sweat

      Fingertip Sensor Measures Lithium Levels in Sweat

      Fabric Makes Electricity from Movement to Power Wearables

      Fabric Makes Electricity from Movement to Power Wearables

      Wearable Uses Microneedles to Track Metabolism

      Wearable Uses Microneedles to Track Metabolism

    • Rehab
      Smart Walking Stick for Visually Impaired People

      Smart Walking Stick for Visually Impaired People

      Implantable Device Adheres to Muscle, Treats Atrophy

      Implantable Device Adheres to Muscle, Treats Atrophy

      Non-Invasive Spinal Modulation for Cerebral Palsy

      Non-Invasive Spinal Modulation for Cerebral Palsy

      Implanted Magnets for Prosthetic Control

      Implanted Magnets for Prosthetic Control

  • Categories
    • Exclusive
    • A-D
      • Anesthesiology
      • Art
      • Cardiac Surgery
      • Cardiology
      • Critical Care
      • Dentistry
      • Dermatology
      • Diagnostics
    • E-I
      • Emergency Medicine
      • ENT
      • Genetics
      • Geriatrics
      • GI
      • Informatics
    • M-N
      • Medicine
      • Military Medicine
      • Nanomedicine
      • Net News
      • Neurology
      • Neurosurgery
      • Nuclear Medicine
    • O-P
      • Ob/Gyn
      • Oncology
      • Ophthalmology
      • Orthopedic Surgery
      • Pathology
      • Pediatrics
      • Plastic Surgery
      • Psychiatry
      • Public Health
    • R-V
      • Radiation Oncology
      • Radiology
      • Rehab
      • Reproductive Medicine
      • Space Medicine
      • Sports Medicine
      • Surgery
      • Thoracic Surgery
      • Urology
      • Vascular Surgery
  • SUBSCRIBE
  • Submit PR
  • About
  • Log in
  • Submit PR
  • Follow
    • Facebook
    • Twitter
    • Linkedin
    • Youtube
    • Instagram
    • RSS

Drug Delivery Device Market to Surpass US$ 423,431.7 Mn by 2030 With CAGR of 7.4% |Pfizer Inc.,Novartis AG (Sandoz), F. Hoffmann-La Roche Ltd.

January 11th, 2023 Coherent Market Insights Releases

The market for drug delivery devices was valued at US$ 258,800.0 million in 2022 and is anticipated to grow at a CAGR of 7.4% from 2023 to 2030 to reach US$ 423,431.7 million. Due to the rising prevalence of chronic/non-communicable diseases and the widespread use of technologically advanced drug delivery devices, the market for these devices is expanding rapidly. Additionally, the market is anticipated to grow as the global geriatric population rises and the biologics market expands. However, the market’s growth is anticipated to be hampered by factors like product recalls and the risk of needlestick injuries.

Regional Insights

The global market for drug delivery devices is divided into five regions based on geography: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.

Due to the region’s rising chronic disease burden, rising demand for drug delivery devices, and rising awareness of the benefits of such devices, North America is anticipated to gain the largest market share over the course of the forecast period. For instance, Corium announced in March 2022 that the FDA had approved ADLARITY (donepezil transdermal system) as a treatment for people with mild, moderate, or severe Alzheimer’s-related dementia. The only once-weekly patch that continuously and consistently administers doses of donepezil through the skin is ADLARITY.

Due to the rising prevalence of non-communicable diseases and increased demand for drug delivery devices in these regions, Europe and Asia Pacific are also anticipated to experience significant growth in the global market for drug delivery devices. For instance, non-communicable diseases (NCDs) are the main cause of death in the European Region, according to the World Health Organization (WHO/Europe). Nearly 75% of fatalities in the area are caused by NCDs, which include chronic respiratory diseases, cancer, diabetes, and cardiovascular diseases. As a result, Europe and the Asia-Pacific region are seeing a sharp increase in demand for drug delivery systems.

Click Here to Get a Sample Copy @ https://www.coherentmarketinsights.com/insight/request-sample/5419

Market Drivers

Over the forecast period, it is anticipated that the global burden of chronic/non-communicable diseases will fuel market growth for drug delivery devices. For instance, innovative patient solutions for chronic diseases are provided by implantable drug delivery systems. Non-communicable diseases (NCDs), such as heart disease, stroke, diabetes, cancer, and chronic lung disease, are to blame for 74% of all fatalities worldwide, according to the World Health Organization (WHO). More than 75 percent of deaths from NCDs take place in low- and middle-income nations. In turn, this is anticipated to support the expansion of the market for drug delivery systems globally.

Over the course of the forecast period, it is anticipated that there will be a rise in the use of technologically advanced drug delivery devices for efficient drug delivery. For instance, Gufic Biosciences introduced the dual-chamber bags (DCB), a new drug delivery system (NDDS) in India in June 2022 at a competitive price. These two-chamber IV bags are made of polypropylene (DEHP free) and have an aluminium foil that can be peeled off to store unstable medications that need to be reconstituted right before giving them to the patient. This is then anticipated to fuel the market’s expansion.

Market Opportunities

Players in the drug delivery device market should see significant growth opportunities as a result of the biologics market’s expected rapid growth. For instance, it is anticipated that drug delivery systems will enhance the targeted delivery of biologics. As a result, market players are concentrating on creating new drug delivery systems and devices. Additionally, over the course of the forecast period, research to create drug delivery systems for biologics is anticipated to increase, fueling market expansion. Bristol-Myers Squibb invested nearly US$ 900 million in a large biologics facility in Ireland, and Novartis invested US$ 700 million in its biologics facility in Singapore.

Global players in the market for drug delivery devices can anticipate lucrative growth opportunities due to the growing geriatric population. For instance, chronic diseases tend to be more prevalent in older people than in younger people around the world because older people are more likely to develop them. WHO estimates that by 2030, 1 in 6 people worldwide will be 60 years of age or older, and by 2050, there will be twice as many people worldwide who are 60 years of age or older (2.1 billion). It is anticipated that this will lead to an increase in demand for drug delivery systems globally.

Market Trends

The expansion of strategic initiatives and the creation of new products is the main trend propelling the market for drug delivery devices. For instance, Agile Therapeutics Inc. announced the release of Twirla (levonorgestrel and ethinyl estradiol) transdermal system, a new non-invasive contraceptive patch, in December 2020. The growth of the market is being fueled by the development of such products, which are fueling the use of drug delivery products.

Furthermore, the development of biologics is accelerating quickly all over the world along with the prevalence of chronic diseases. Players in the market are concentrating on creating and releasing technologically sophisticated drug delivery systems for biologics. Biologic medications are administered via parenteral drug delivery because of their large molecular size and delicate molecular structure. During the forecast period, this trend is also anticipated to persist, fueling the expansion of the global market for drug delivery systems.

Market Restraints

Recalls of products are predicted to impede the development of the global market for drug delivery devices. For instance, the U.S. FDA recalled Medtronic’s SynchroMed II systems in December 2019 after reports of patient deaths after having the SynchroMed II system implanted. A voluntary recall of specific SynchroMed II implantable drug infusion pumps was classified by FDA as a Class I event.

The market for drug delivery devices is predicted to grow slowly due to the risk of needlestick injuries. For instance, the majority of drug delivery systems on the market today are injectable ones that use needles to administer therapeutics to patients. In healthcare settings, it is well known that there are many instances of serious needlestick injuries. One of the most significant occupational hazards for healthcare workers worldwide is these injuries.

Ask For Discount Before Purchasing This Business Report : https://www.coherentmarketinsights.com/insight/request-discount/5419

Market Segmentation

Route of Administration, Application, End User, and Geography are the segments used to segment the drug delivery device market report.

The market is divided into Injectable, Topical, Ocular, and Other Routes of Administration based on route of administration. Due to the rise in the use of injectable medications to treat chronic and non-communicable diseases, the injectable segment is anticipated to dominate the drug delivery device market during the forecast period. The most efficient method of administration is via injection because it increases the drug’s bioavailability more than other methods do.

Due to the rise in diabetes prevalence, Topical Segment is anticipated to experience significant growth in the near future. Drugs that are administered transdermally are ones that are absorbed through the skin.

The market is divided into Cancer, Cardiovascular, Diabetes, Infectious Diseases, and Other Applications based on application. Out of these, the cancer segment is anticipated to rule the market over the anticipated time frame, and this is due to the rising burden of cancer.

Segment is anticipated to experience significant growth in the near future, and this is due to the rise in cardiovascular disease prevalence globally.

The market is divided into Hospitals, Ambulatory Surgical Centers, and Other End Users based on the end user. Due to the rise in the use of drug delivery devices in hospitals, the Hospitals Segment is anticipated to dominate the market over the course of the forecast period.

The Ambulatory Surgical Centers Segment is also anticipated to experience significant growth in the near term, and this is due to the centres’ increasing use of injectable medications.

Key Developments

Pfizer Inc. acquired Arena Pharmaceuticals in March 2022 to increase the number of therapeutic candidates it had available for use in dermatology, gastroenterology, and other fields.

To broaden its product offering in cutting-edge drug discovery technologies, Bayer AG acquired 100% of the shares of the biopharmaceutical company Vividion Therapeutics in August 2021.

Mallya is a cutting-edge medical device that Roche and Biocorp will introduce in April 2021 to enhance the daily lives of diabetic patients.

Key Companies Insights

The market for drug delivery systems is very crowded worldwide. This can be attributed to the rising demand for drug delivery devices globally, which has led to market players concentrating on introducing novel products.

Pfizer Inc., Novartis AG (Sandoz), F. Hoffmann-La Roche Ltd., Johnson & Johnson, Bayer AG, and other major companies are some of the market’s leading competitors.

Buy This Complete Business Report @ https://www.coherentmarketinsights.com/insight/buy-now/5419

Table of Content

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Drug Delivery Device Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Drug Delivery Device Industry Impact

Chapter 2 Global Drug Delivery Device Competition by Types, Applications, and Top Regions and Countries
2.1 Global Drug Delivery Device (Volume and Value) by Type
2.3 Global Drug Delivery Device (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Global Drug Delivery Device Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Drug Delivery Device Market Analysis
Chapter 6 East Asia Drug Delivery Device Market Analysis
Chapter 7 Europe Drug Delivery Device Market Analysis
Chapter 8 South Asia Drug Delivery Device Market Analysis
Chapter 9 Southeast Asia Drug Delivery Device Market Analysis
Chapter 10 Middle East Drug Delivery Device Market Analysis
Chapter 11 Africa Drug Delivery Device Market Analysis
Chapter 12 Oceania Drug Delivery Device Market Analysis
Chapter 13 South America Drug Delivery Device Market Analysis
Chapter 14 Company Profiles and Key Figures in Drug Delivery Device Business
Chapter 15 Global Drug Delivery Device Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Contact:

Mr Shah

Coherent Market Insights

533 Airport Boulevard, Suite 400, Burlingame,
CA 94010, United States.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

Sign up and submit a press release

Sponsored
C-mo Medical Solutions extends seed investment round to €4.8 million to transform cough monitoring

C-mo Medical Solutions extends seed investment round to €4.8 million to transform cough monitoring

New Clarius Power Fan HD3 Delivers a First for Handheld Ultrasound: Continuous Scanning

New Clarius Power Fan HD3 Delivers a First for Handheld Ultrasound: Continuous Scanning

Fluidx Unveils New Embolic for Neurovascular Use

Fluidx Unveils New Embolic for Neurovascular Use

Annalise.ai and Nuance Communications (a Microsoft Company) Announce Key Partnership to Improve Patient Outcomes with Workflow-Integrated AI

Annalise.ai and Nuance Communications (a Microsoft Company) Announce Key Partnership to Improve Patient Outcomes with Workflow-Integrated AI

PT Genie Unveils New Brand Identity Reflecting Company’s Transformation and Focus on the Global Future of AI and Machine Learning in Digital Healthcare

interviews & reviews
Balance Boards to Stay Active in the Offfice: Interview with Joel Heath, CEO of FluidStance 

Balance Boards to Stay Active in the Offfice: Interview with Joel Heath, CEO of FluidStance 

Exciting Medtech at the Healthcareᐩ Expo Taiwan

Exciting Medtech at the Healthcareᐩ Expo Taiwan

Medgadget Visits Healthcareᐩ Expo Taiwan

Medgadget Visits Healthcareᐩ Expo Taiwan

Diabetes Management Tech for Type II patients: Interview with Jeffrey Brewer, CEO of Bigfoot Biomedical

Diabetes Management Tech for Type II patients: Interview with Jeffrey Brewer, CEO of Bigfoot Biomedical

Monitoring Congestive Heart Failure Through Speech: Interview with Tamir Tal, CEO of Cordio Medical

Monitoring Congestive Heart Failure Through Speech: Interview with Tamir Tal, CEO of Cordio Medical

In-Office Pediatric Ear Tube Procedures: Interview with Preceptis Medical's Greg Mielke

In-Office Pediatric Ear Tube Procedures: Interview with Preceptis Medical's Greg Mielke

Symani Microsurgical Robotic System: Interview with Mark Toland, CEO of Medical Microinstruments

Symani Microsurgical Robotic System: Interview with Mark Toland, CEO of Medical Microinstruments

  • Subscribe
  • Contact us
  • Submit
  • About
  • Back to top
Medgadget

Medical technologies transform the world! Join us and see the progress in real time. At Medgadget, we report the latest technology news, interview leaders in the field, and file dispatches from medical events around the world since 2004.

  • About
  • Editorial policies
  • Contact
  • Terms of Service
  • Privacy
  • Submit press release
  • Advertise
© Medgadget, Inc. All rights reserved. | The Medical Revolution Will Be Blogged.
Please support this website by adding us to your whitelist in your ad blocker. Ads are what helps us bring you premium content! Thank you!
Posting....
  • Facebook
  • Twitter
  • LinkedIn
  • Reddit
  • Email