Press release
Drug Delivery Systems Market Is Reaching Roughly US$ 80 Billion By 2032
The global drug delivery systems market was worth approximately US$ 40 billion in 2022 and is expected to grow at a CAGR of more than 7.8% between 2022 and 2032, reaching approximately US$ 80 billion by 2032. From 2022 to 2032, demand for self-administration and home health care devices is expected to drive growth in the global drug delivery systems market.Read Report Overview: https://www.factmr.com/report/4768/drug-delivery-systems-market
Competition Landscape
The present worldwide drug delivery systems market is extremely competitive, owing to the existence of several local and global drug delivery product producers. Extensive research activities and technical developments characterize the industry. The intensive competition among market participants is characterized by investment in R&D to produce new grade medication delivery products and solve issues, concerns, and side-effects of their use.
In February 2020, Novartis AG received a patent for the invention of thermogelling peptide delivery systems that are administered as fluid sol at ambient temperature through an injection. The business also makes ZYKADIA, which is used to treat non-small cell lung cancer.
Binocrit, a medication used to treat symptomatic anaemia associated with chronic renal failure in both adults and children, is also manufactured by the business. Another major market competitor, Pfizer, Inc., offers the iSecure, ABBOJECT, and CARPUJECT syringe systems. It also provides IV medication delivery devices, such as the ADD-Vantage ADDaptor delivery system.
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Key Segments Covered in the Drug Delivery Systems Industry Report
Drug Delivery Systems by Delivery System
Intra Uterine Implants
Pro-drug Implants
Polymeric Drug Delivery
Targeted Drug Delivery
Drug Delivery Systems by Route of Administration
Oral
Injectable
Inhalation
Transdermal
Ocular
Nasal
Topical
Drug Delivery Systems by Application
Infectious Disease
Oncology
Ophthalmology
Urology
Diabetes
CNS
Others
Drug Delivery Systems by Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
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What is the North American Growth Prospect for Drug Delivery Systems?
Increased Acceptance of Enhanced Drug Delivery Solutions Expands Growth Prospects
North America has held the largest share of the global drug delivery system market in recent years, according to Fact.MR. This trend is expected to continue throughout the forecast period, with the company maintaining its market share while increasing at a CAGR of 7.2%. However, the rise in R&D costs for sophisticated medication delivery systems in the United States is causing significant concern among key stakeholders.
The report clarifies several important questions about the Drug Delivery Systems Market:
1. Which regional market is expected to grow the most during the forecast period?
2. How has the rise in raw material prices caused by the COVID-19 pandemic affected the growth of the Drug Delivery Systems Market?
3. Why are market participants concentrating on R&D and innovation?
4. Are market participants increasing their global presence? If so, how so?
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