The liposomal drug delivery devices market is expected to grow rapidly, increasing from $4.52 billion in 2023 to $5.02 billion in 2024, with a CAGR of 10.9%. This growth is driven by advancements in drug delivery and personalized medicine. By 2028, the market is projected to reach $7.71 billion, with a CAGR of 11.4%. Factors contributing to this growth include the expansion of targeted therapies and innovations in delivery systems.
Major Driver In The Liposomal Drug Delivery Devices Market
The escalating number of cancer cases worldwide is expected to contribute to the growth of the liposomal drug delivery devices market in the coming years. Liposomal drug delivery systems play a crucial role in targeted therapy for cancer treatment, encompassing radiation therapy, chemotherapy, and surgical resection. The American Cancer Society reported 1.9 million new cancer cases and 0.6 million cancer-related deaths in the USA in 2021, with lung, prostate, bowel, and female breast cancer accounting for 43% of all new cancer cases globally. This rise in the global incidence of cancer is anticipated to drive the demand for liposomal drug delivery devices, influencing the market's growth in 2023, 2024, and 2028.
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Liposomal Drug Delivery Devices Market Competitive Landscape
Pfizer Inc., Johnson & Johnson Services Inc., Merck & Co. Inc., Novartis AG, Medtronic plc, Gilead Sciences Inc., Teva Pharmaceutical Industries Ltd., Mylan NV, Sun Pharmaceutical Industries Ltd., CSPC Pharmaceutical Group Limited, Ipsen SA, Novavax Inc., Shanghai Fudan Zhangjiang Bio-Pharmaceutical Co. Ltd., Nanomerics Ltd., Luye Pharma Group Ltd., Leadiant Biosciences Inc., Pacira Biosciences Inc., Tolmar Pharmaceuticals Inc., Nippon Kayaku Co. Ltd., Celsion Corporation, Acrotech Biopharma Inc., Aphios Pharma LLC, CytImmune Sciences Inc., NanoSphere Health Sciences Inc., Cel-Sci Corporation, Lipoid GmbH, Liposome Company Inc., Liposome Research Days Corporation, Taiwan Liposome Company, T&T Scientific Corporation
Key Liposomal Drug Delivery Devices Market Trend
Several big companies are undertaking various strategic initiatives such as collaborations and new product development, which is likely to become a major trend in the liposomal drug delivery devices market. Various companies are coming together to develop liposomal drug delivery systems to expand their product portfolio and operations worldwide. For instance, in 2021, MindMed is an Israeli creative drug development company, announced the execution of a Memorandum of Understanding regarding the introduction of an exclusive collaborative development program to optimize the supply of particular psychedelic drug candidates, leveraging Nextage's proprietary Brain Targeting Liposome System (BTLS) supply technology, for which it has a license. In March 2020, FUJIFILM Corporation announced its decision to offer contract services of process development and manufacturing of liposome formulations to its partners seeking drug delivery formulations that are designed to deliver the therapeutic to the affected sites.
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Liposomal Drug Delivery Devices Market Segmentation
The liposomal drug delivery devices market covered in this report is segmented –
1) By Type: Liposomal Doxorubicin, Liposomal Paclitaxel, Liposomal Amphotericin B, Other Types
2) By Application: Fungal Diseases, Cancer Therapy, Pain Management, Viral Vaccines, Photodynamic Therapy
3) By End User: Hospitals, Diagnostic Centers, Ambulatory Surgery Centers/Clinics, Other End Users
By Geography:The regions covered in the liposomal drug delivery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the liposomal drug delivery devices market in 2023.
The Liposomal Drug Delivery Devices Global Market Report 2024 furnishes information about the global liposomal drug delivery devices market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
