The liposomal drug delivery devices market consists of sales of liposomal drug delivery devices and related services by entities (organizations, sole traders, and partnerships) that manufacture liposomal drug delivery devices. Liposomes are microscopic colloidal spheres that are used to deliver drug molecules to the site of action. Liposomal drug delivery devices are used in various patient care settings such as hospitals, diagnostic centers, pharmaceutical companies, clinics, and home care settings.
The global liposomal drug delivery market is expected to decline from $3.33 billion in 2019 to $3.30 billion in 2020 at a compound annual growth rate (CAGR) of -0.74%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $4.43 billion in 2023 at a CAGR of 10.27%.