How Global Drug Delivery Devices Market Players Should Strategize For 2022-2031

The global drug delivery devices market size is expected to grow from $79.68 billion in 2021 to $84.10 billion in 2022 at a compound annual growth rate (CAGR) of 5.5%. The global drug delivery device market size is then expected to grow to $100.10 billion in 2026 at a CAGR of 4.5%.

What is the Global Drug Delivery Devices Market?

The drug delivery devices market consists of the sales of medical devices and equipment that are used for delivering specific drugs to a specific part of the body to cure chronic diseases such as cancer, infectious diseases, respiratory diseases, diabetes, cardiovascular diseases.

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What drives the Global Drug Delivery Devices Market?

The rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, cancer and other diseases is expected to drive the drug delivery devices market. According to the World Health Organization (WHO), by 2020, chronic diseases will account for almost three-quarters of all deaths worldwide, and that 71% of deaths due to ischemic heart disease (IHD), 75% of deaths due to stroke, and 70% of deaths due to diabetes will occur in developing countries. There are various routes of drug administration for medical drugs. The selection of the route depends on three factors – the effect desired, the type of the disease and the type of the product. Currently, the development of new drug delivery systems plays a major role in pharmaceutical industries. Research and development (R&D) in drug delivery are increasing throughout the world due to increasing prevalence of these diseases. Most of the pharmaceutical companies are focusing on multiple drug delivery technologies for creating excellent advantages and better outcome for their marketed products. Hence, the increasing prevalence of chronic diseases is resulting in increased consumption of therapeutic drugs and therapies, and this factor is expected to act as a driver for the growth of the drug delivery devices market. Drugs used for COVID-19 treatment are both oral and injectable, however, a marginal increase is expected for pulmonary or respiratory-based drug delivery devices.

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Global Drug Delivery Devices Market Segments
The global drug delivery devices market is segmented:
By Route of Administration: Oral Drug Delivery, Injectable Drug Delivery, Topical Drug Delivery, Ocular Drug Delivery, Pulmonary Drug Delivery, Nasal Drug Delivery, Transmucosal Drug Delivery, Implantable Drug Delivery
By Patient Care Setting: Hospitals, Diagnostic Centers, Ambulatory Surgery Centers/Clinics, Home Care Settings, Others
By Application: Cancer, Infectious Diseases, Respiratory Diseases, Diabetes, Cardiovascular Diseases, Autoimmune Diseases, Central Nervous System Disorders, Others
By Geography: The regions covered in the drug delivery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Drug Delivery Devices Global Market Report 2022provides market size and growth forecasts for the global drug delivery devices market, global drug delivery devices market share, drug delivery devices market segments and geographies, drug delivery devices market competitive landscape including leading competitors’ revenues, profiles and market shares. The drug delivery devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Drug Delivery Devices Industry Playersinclude F. Hoffmann-La Roche Ltd, 3M Company, Pfizer Inc, Baxter International, BD, Novartis AG, Gerresheimer AG, Johnson & Johnson Services, Inc, Bayer AG, and GlaxoSmithKline plc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.