Global Drug Delivery Devices Market Trends And Strategies Of Major Players In The Drug Delivery Devices Market 2021-2030
16 Sep, 2021
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. The market includes the sales of the devices that are specifically made for delivering the specific drugs according to the various administration techniques such as oral drug delivery, injectable drug delivery, topical drug delivery, ocular drug delivery, pulmonary drug delivery, nasal drug delivery, transmucosal drug delivery and implantable drug delivery. Drug delivery devices used in various patient care settings such as hospitals, diagnostic centers, pharmaceutical companies, clinics and home care settings are included in this market.
Global Drug Delivery Devices Market Size And Drivers:
The global drug delivery devices market is expected to grow from $40.7 billion in 2020 to $42.76 billion in 2021 at a compound annual growth rate (CAGR) of 5.1%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $50.9 billion in 2025 at a CAGR of 4.5%, owing to the COVID-19 pandemic. 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. The growing demand for global drug delivery devices market to meet the needs of the rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, cancer and other diseases is expected to drive the global drug delivery devices.
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Trends In The Global Drug Delivery Devices Market
The microneedle (MN), is a highly efficient and versatile medical device technology, due to its prominent properties including painless penetration, low cost, excellent therapeutic efficacy, and relative safety. The major players operating in the global microneedle drug delivery system include, 3M, Vetter Pharma International GmbH, nano Biosciences LLC, Nano Pass and more. The microneedles are fabricated using biodegradable polymers in which drugs or vaccines are encapsulated in the microneedles. Once, the microneedles dissolve in the skin, the drug gets released. This novel delivery method allows a wider variety of molecules to pass the skin’s barrier, thus allowing the transdermal delivery to be applied to a large range of clinical applications, including diabetes, severe osteoporosis, and influenza vaccination.
Global Drug Delivery Devices Market Segments:
The global drug delivery devices market is further 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 global drug delivery devices market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Drug Delivery Devices Market At:https://www.thebusinessresearchcompany.com/report/drug-delivery-devices-market-global-report-2020-2030-covid-19-implications-and-growth
Drug Delivery Devices Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides drug delivery devices market overviews, analyzes and forecasts market size and growth for the global drug delivery devices market, drug delivery devices market share, drug delivery devices market players, drug delivery devices market segments and geographies, drug delivery devices market’s 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.