The "Drug Delivery Devices Market by Device Type, End User, Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
The global drug delivery devices market accounted for $19,061 million in 2018, and is expected to reach $26,742 million by 2026, registering a CAGR of 4.3% from 2019 to 2026.
Drug delivery is the process of administering a pharmaceutical compound to provide therapy to various diseases. The drug delivery technologies change the profile of drug release, including absorption, distribution, and elimination to improve product safety and efficacy. It also sees the patient convenience and compliance with the drug. The common routes of administration are the oral, enteral, parenteral, inhalation, topical, and transdermal patches routes.
However, many medications such as protein and peptide, antibody, vaccine, and gene-based drugs may not be delivered through these routes of administrations, as they might be vulnerable to enzymatic degradation or cannot be absorbed into the systemic circulation efficiently. This is attributed to the molecular size and its therapeutic effects. Hence, many protein and peptide drugs are recommended to be delivered by injection. Recently, manufacturers are taking many efforts in the area of drug delivery, including the development of targeted drug delivery devices in which the drug is only active in the target area of the body.
The key factors that drive the growth of the drug delivery devices market include rise in The prevalence of chronic diseases and an increase in the biologics market. In addition, surge in geriatric population further supplements the growth of the market. However, risk of needle stick injuries and stringent government regulations hinder the growth of the market globally. On the contrary, high growth prospects in emerging markets can provide newer opportunities for the drug delivery devices market growth.
- This report entails a detailed quantitative analysis along with the current global drug delivery devices market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessments.
- The market size and estimations are based on a comprehensive analysis of key developments in the industry.
- A qualitative analysis based on innovative products facilitates strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market
- Inhalers and nebulizers occupied more than one-thirds share of the global drug delivery devices market in 2018.
- The hospitals and diagnostic centers segment in end user is anticipated to grow with the highest CAGR throughout the forecast period.
- The transdermal patches segment in device type accounted for more than one-thirds share of the drug delivery devices market in 2018.
- Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.
- Rising prevalence of chronic diseases
- Growth in the biologics market
- Rapid rise in the aging population
- Risk of needle stick injuries
- Stringent government regulations
- High growth prospects in the emerging markets
- 3M Company
- AstraZeneca PLC,Becton
- Dickinson, Company
- Boehringer Ingelheim group
- Consort Medical plc
- GlaxoSmithKline plc
- Medtronic Plc
- Sulzer Ltd. (Medmix Systems AG)
- West Pharmaceuticals Services Inc
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