Global Drug Delivery Devices Market Size study & Forecast, by Route of Administration (Injectable, Topical, Ocular, Other Route of Administration), by Application (Cancer, Cardiovascular, Diabetes, Infectious diseases, Other Applications), by End User (Ho

Global Drug Delivery Devices Market Size study & Forecast, by Route of Administration (Injectable, Topical, Ocular, Other Route of Administration), by Application (Cancer, Cardiovascular, Diabetes, Infectious diseases, Other Applications), by End User (Hospitals, Ambulatory Surgical Centers, Other End Users) and Regional Analysis, 2023-2030

Global Drug Delivery Devices Market is valued at approximately USD XXX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Drug discovery devices are technological tools and instruments used in the process of discovering and developing new pharmaceutical drugs. These devices are designed to assist researchers and scientists in various stages of the drug discovery pipeline, from target identification and validation to lead optimization and preclinical testing. The Drug Delivery Devices market is expanding because of factors such as the increasing prevalence of chronic diseases, increasing research and development investment for drug devices, and increasing demand for novel drugs.

The rising prevalence of chronic diseases such as cancer, cardiovascular diseases, and neurological disorders has created a substantial market for drug discovery devices. There is a need for effective drugs to address these diseases, which drives the demand for drug discovery devices. The rising burden of chronic diseases has fueled the need for innovative drugs, leading to increased investment in drug discovery research and the development of sophisticated drug discovery devices. These devices enhance the efficiency and effectiveness of the drug development process, ultimately benefiting patients by providing better treatment options for chronic diseases. The International Diabetes Federation stated that India has an anticipated 74,194.7 thousand cases of diabetes in 2021, and that figure is expected to increase to 92,973.7 thousand cases by 2030. Furthermore, the Robert Wood Johnson Foundation reports that there were 157 million cases of chronic illness in the United States in 2020, with an expected rise to 171 million cases by 2030. Furthermore, the International Agency for Research on Cancer (IARC), estimated that by the year 2040, there would be around 27.5 million new cases across the globe from 1.9 million new cases in the year 2021. Thus, the rising prevalence of the chronic disease across the globe is driving market growth. Moreover, the expansion of strategic initiative implementation and the creation of new products is fueling the market growth. For instance, in March 2021, researchers from Stanford University and the University of North Carolina at Chapel Hill (UNC) created a 3D-printed vaccine patch that they claim offers superior protection to a conventional vaccine shot. The creation of such innovative items is encouraging the use of medicine delivery products and fostering market expansion. In addition, growing initiatives for technological advancement, increasing development of personalized medicine, favorable government regulations and policies are creating opportunities to the market growth. The BLA is planned to be submitted by the end of Q4 2023. The successful launch of this product may provide patients with an alternative option. However, the high cost of drug delivery devices stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Drug Delivery Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of key market players, rising investment in research and development activities, rising prevalence of various diseases and rising drug development activities in the region. Whereas Asia Pacific is projected to have the significant growth owing to factors such as the rising prevalence of chronic diseases, rising healthcare advancement activities, favorable government initiatives for manufacturing drug delivery devices and rising product launches activities in the region.

Major market player included in this report are:
Pfizer Inc.
Novartis AG
F Hoffmann-La Roche Ltd
Johnson and Johnson Inc.
Bayer AG
Becton, Dickinson and Company
Altaris
Holozymes Inc. (Antares Pharma Inc.)
GlaxoSmithKline PLC
Teva Pharmaceutical Industries Ltd

Recent Developments in the Market:
In June 2022, Gufic Biosciences Ltd. introduced Dual Chamber Bags, a revolutionary drug delivery method, at competitive pricing. These dual-chamber IV bags include two chambers and are constructed of polypropylene (DEHP free), with an aluminium foil that could peeled off to store unstable medications that need to be reconstituted right before giving them to the patient.

In February 2022, The US FDA approved Akeda's TAKHZYRO (lanadelumab-flyo) injectable as a single-dose prefilled syringe (PFS). Using this drug, HAE attacks are be avoided in both adults and children 12 years of age and older.

Global Drug Delivery Devices Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Route of Administration, Application, End User, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Route of Administration:
Injectable
Topical
Ocular
Other Route of Administration

By Application:
Cancer
Cardiovascular
Diabetes
Infectious diseases
Other Applications

By End User:
Hospitals
Ambulatory Surgical Centers
Other End Users

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Pfizer Inc.
Novartis AG
F Hoffmann-La Roche Ltd
Johnson and Johnson Inc.
Bayer AG
Becton, Dickinson and Company
Altaris
Holozymes Inc. (Antares Pharma Inc.)
GlaxoSmithKline PLC
Teva Pharmaceutical Industries Ltd

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