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Drug Delivery Devices Global Market 2023 : Opportunities, Industry Share, Size, Trends And Forecast 2032 | F. Hoffmann-La Roche Ltd., 3M Company, Pfizer Inc., Baxter International, Novartis AG
Drug Delivery Devices Market Trends
The Business Research Company's Drug Delivery Devices Global Market Report 2023 identifies rising prevalence of chronic diseases as the major driver for the Drug Delivery Devices market's growth in the forecast period. According to the world health organization (WHO), by 2020, chronic diseases will account for almost three-quarters of all deaths worldwide, and 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 the pharmaceutical industry. Research and development (R&D) in drug delivery are increasing throughout the world due to the increasing prevalence of these diseases.
The global drug delivery devices market size will grow from $81.13 billion in 2022 to $87.65 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global drug delivery devices market size is expected to grow from $115.09 billion in 2027 at a CAGR of 7.0%.
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Major competitors in the Drug Delivery Devices market are 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.
A key trend in the Drug Delivery Devices market includes regulatory changes related to medical devices. The companies operating in the market are required to adapt according to the changes in the regulatory framework, which may limit business at the bottom line. Also, companies will have to bear the heavy cost of adapting to the changing regulatory framework. Also, the sudden changes in the regulatory framework related to medical devices can result in losses, fines, and penalties at a global level. The new MDSAP will come into effect in 2020 and is adopted by regulators in the US, Canada, Japan, Brazil, and Australia.
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The 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, Other Patient Care Settings
By Application: Cancer, Infectious Diseases, Respiratory Diseases, Diabetes, Cardiovascular Diseases, Autoimmune Diseases, Central Nervous System Disorders, Other Applications
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Drug Delivery Devices market.
The Business Research Company's "Global Drug Delivery Devices Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Drug Delivery Devices Market Include:
1. Executive Summary
2. Drug Delivery Devices Market Characteristics
3. Drug Delivery Devices Market Trends And Strategies
4. Drug Delivery Devices Market - Macro Economic Scenario
5. Drug Delivery Devices Market Size And Growth
……
26. Africa Drug Delivery Devices Market
27. Drug Delivery Devices Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Drug Delivery Devices Market
29. Drug Delivery Devices Market Future Outlook and Potential Analysis
30. Appendix
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