Drug Delivery Devices Market would rocket up to USD 7,177.769 Million by 2029

The universal Drug Delivery Devices Market research report makes use of SWOT analysis and Porter’s Five Forces analysis to disclose the strengths, weaknesses, opportunities, and threats in the HELATH industry. This report is an important source of guidance for companies and individuals offering industry chain structure, business strategies and proposals for new project investments. Analysis and estimation of important industry trends, market size, and market share are mentioned in this market report. An influential Drug Delivery Devices Market business report proves to be an indispensable document for every market enthusiast, policymaker, investor, and player.

There is a huge rise in the number of diseases and disorders owing to the viral and bacterial infection. To study the live viruses and monitor the tissue health, a rising number of scientists and researchers are inducing their resources to revolutionize the drug delivery systems. The drug delivery devices are easily available via both online and offline modes of distribution but can be availed only with a prescription.

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Data Bridge Market Research analyses that the drug delivery devices market is expected to undergo a CAGR of 17.23% during the forecast period. This indicates that the market value, which was USD 2,013.20 million in 2021, would rocket up to USD 7,177.769 million by 2029. “Injectable Drug Delivery” dominates the route of administration segment of the drug delivery devices market owing to the rising number of hospitals and clinics especially in the developing economies and increase in the adoption of injectable drugs. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Key Players:

Some of the major players operating in the drug delivery devices market are BD. (US); F. Hoffmann-La Roche Ltd (Switzerland); Antares Pharma (US); Novartis AG (Switzerland); 3M (US); Sulzer Ltd (Switzerland); Gerresheimer AG (Germany); Sanofi (France); Johnson & Johnson Services, Inc. (US); Bayer AG (Germany); GlaxoSmithKline plc (UK); Novosanis (Belgium); MEDMIX SYSTEMS AG (Switzerland); Merck & Co., Inc. (Germany); Pfizer Inc. (US); Insulet Corporation (US); OraSure Technologies, Inc. (US); Enable Injections (US); West Pharmaceutical Services, Inc. (US); SMC Ltd. (Philippines); ViVO Smart Medical Devices Ltd. (UK) and Cipla Inc. (US) among others.

Drivers

The rise in the prevalence of diseases

Surging prevalence of acute and chronic diseases and infections all around the globe is one of the major factors responsible for fostering growth in the market value. According to a recent report, there are more than 20 million in the country suffering from diabetes and this number is projected to surpass 57 million by 2025.

Research and development proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted over live viruses with an aim to develop drugs is also bolstering the market growth rate.

Government investments on healthcare infrastructure

The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities. Moreover, growing initiatives by the government to provide the best of drugs against cancer, infectious diseases, respiratory diseases, diabetes, cardiovascular diseases and others in the remote areas will further carve the way for the growth.

Additionally, surge in the personal disposable income level, introduction of technologically driven products in hospitals, increasing investment for the development of advanced medical products and devices and rising number of cancers, respiratory diseases, and diabetic patients in the backward economies, positively affect the market growth rate.

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Recent Development

• In January 2021, Novartis AG made its investment in Credence MedSystems to support the development and scale-up of its drug delivery systems. This initiative facilitates Novartis AG to employ the Credence technology in its injectable medicines.
• In November 2020, Croda International PLC entered an agreement with Pfizer Inc. to supply innovative drug delivery systems for Pfizer’s COVID-19 Vaccine Candidate.

The report provides insights on the following pointers:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the this market
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies

Critical Insights Related to This Market Included in the Report:

• Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
• Value chain analysis of prominent players in the market
• Current trends influencing the dynamics of this market across various geographies
• Recent mergers, acquisitions, collaborations, and partnerships
• Revenue growth of this industry over the forecast period
• Marketing strategy study and growth trends
• Growth driven factor analysis
• Emerging recess segments and region-wise market
• An empirical evaluation of the curve of this market
• Ancient, Present, and Probable scope of the market from both prospect value and volume

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Drug Delivery Devices Market Scope

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

Based on route of administration, the drug delivery devices market is segmented into 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.\

Patient care setting

• Hospitals
• Diagnostic Centers
• Ambulatory Surgery Centers/Clinics
• Home Care Settings
• Others

Based on patient care setting, the drug delivery devices market is segmented into hospitals, diagnostic centers, ambulatory surgery centers or clinics, home care settings and others.

 Application

• Cancer
• Infectious Diseases
• Respiratory Diseases
• Diabetes
• Cardiovascular Diseases
• Autoimmune Diseases
• Central Nervous System Disorders
• Others

Based on application, the drug delivery devices market is segmented into cancer, infectious diseases, respiratory diseases, diabetes, cardiovascular diseases, autoimmune diseases, central nervous system disorders and others.

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