Drug Delivery Devices Market Set to Reach $24.65 Billion Valuation by 2030

Meticulous Research® Illuminates Future Trends in Drug Delivery Devices Market: Valued at $24.65 Billion by 2030
Meticulous Research®, a renowned market research company, has unveiled its latest comprehensive report, titled 'Drug Delivery Devices Market by Product (Nebulizer, Inhaler, Syringe, Transdermal Patch, Drop Bottle, Pen Injector, Implantable Device), Therapeutic Area (Diabetes, Infectious, Oncology, Respiratory, Cardiovascular, Autoimmune) - Global Forecast to 2030.'

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This cutting-edge publication by Meticulous Research® forecasts the drug delivery devices market to achieve a remarkable valuation of $24.65 billion by 2030, showcasing a robust Compound Annual Growth Rate (CAGR) of 7.6% from 2023 to 2030. The growth trajectory of the market is propelled by various factors, including the escalating prevalence of chronic diseases, advancements in disease treatment methodologies, increased Research and Development (R&D) spending in the pharmaceutical and biotechnology sectors, and a rising demand for advanced drug delivery systems. Emerging economies and technological advancements in drug delivery systems are identified as pivotal opportunities that will fuel market growth in the coming years.

Challenges such as biocompatibility and acceptability are acknowledged in the drug delivery devices market, while factors like manufacturing defects and a lack of awareness about newer drug delivery systems pose constraints to market expansion.

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Key Players

The drug delivery devices market report profiles key players including Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), GMP Laboratories of America, Inc. (U.S.), Gemini Pharmaceuticals, Inc. (U.S.), Resyca GmbH (Netherlands), Novartis International AG (Switzerland), Becton, Dickinson, and Company (U.S.), Lifelong Meditech Private Limited (India), Bright Pharma Caps, Inc. (U.S.), Gerresheimer AG (Germany), West Pharmaceutical Services, Inc. (U.S.), Eclam Medical ACS Ltd. (Israel), SMC Ltd. (U.S.), Owen Mumford Limited (U.K.), Haselmeier GmbH (Germany), SHL Medical AG (Switzerland), Ypsomed Holding AG (Switzerland), AptarGroup, Inc. (U.S.), Kindeva Drug Delivery L.P. (U.S.), Nemera Group (France), and Recipharm AB (Sweden).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/drug-delivery-devices-market-5742

Drug Delivery Devices Market: Future Insights

The market segmentation encompasses Product categories such as Nasal & Pulmonary Drug Delivery Systems, Parenteral Drug Delivery Systems, Topical & Transdermal Drug Delivery Systems, Drop Bottle Drug Delivery Systems, Implantable Drug Delivery Devices, Insulin Pumps, Intrauterine Devices, and Infusion Pumps. Additionally, the Therapeutic Areas analyzed include Diabetes, Infectious Diseases, Oncology, Cardiovascular Diseases, Respiratory Diseases, Neurological Disorders, and Autoimmune Diseases.

In 2023, the parenteral drug delivery systems segment is anticipated to dominate the market, driven by the increasing prevalence of chronic diseases, first-pass metabolism avoidance, and the ease of drug delivery at various levels. Devices like autoinjectors, syringes, and wearable patches contribute significantly to the segment's large share, ensuring better bioavailability and immediate drug action.

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Within therapeutic areas, the diabetes segment is expected to command the largest market share in 2023. This dominance is attributed to the variety of devices available for managing insulin levels, the growing prevalence of chronic diseases, and heightened consumer awareness regarding chronic disease monitoring.

For further details and a detailed market analysis, please refer to the full report from Meticulous Research®. Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5742

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This release was published on openPR.