The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s drug delivery devices market report forecasts the drug delivery devices market size to grow to $115.09 Billion by 2027, with a CAGR (compound annual growth rate) of 7%.

Learn More On The Drug Delivery Devices Market Report 2023 – https://www.thebusinessresearchcompany.com/report/drug-delivery-devices-global-market-report

Drug Delivery Devices Market Size Forecast
The global drug delivery devices market is expected to 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%.

North America held the largest drug delivery devices market share.

Key Drug Delivery Devices Market Driver ­– Rise In The Prevalence Of Chronic Diseases
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. Most pharmaceutical companies are focusing on multiple drug delivery technologies for creating excellent advantages and better outcomes for their marketed products. Hence, the increasing prevalence of chronic diseases is resulting in increased consumption of therapeutic drugs and therapies, and this factor is expected to act as a driver for the growth of the drug delivery devices market.

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Key Drug Delivery Devices Market Trend – Developing Microneedle Medical Device Technology
The microneedle (MN), is a highly efficient and versatile medical device technology, due to its prominent properties including painless penetration, low cost, excellent therapeutic efficacy, and relative safety. The major players operating in the global microneedle drug delivery system include 3M, Vetter Pharma International GmbH, nano Biosciences LLC., Nano Pass and more. The microneedles are fabricated using biodegradable polymers in which drugs or vaccines are encapsulated in the microneedles. Once, the microneedles dissolve in the skin, the drug gets released. This novel delivery method allows a wider variety of molecules to pass the skin’s barrier, thus allowing the transdermal delivery to be applied to a large range of clinical applications, including diabetes, severe osteoporosis, and influenza vaccination.

Drug Delivery Devices Market Segment
1) 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
2) By Patient Care Setting: Hospitals, Diagnostic Centers, Ambulatory Surgery Centers/Clinics, Home Care Settings, Other Patient Care Settings
3) By Application: Cancer, Infectious Diseases, Respiratory Diseases, Diabetes, Cardiovascular Diseases, Autoimmune Diseases, Central Nervous System Disorders, Other Applications

Drug Delivery Devices Market Major Players and Strategies
Major players 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.

In August 2020, Sulzer, a Swiss-based engineering and manufacturing firm acquired Haselmeier GmbH for $118m. The acquisition of Haselmeier will allow Sulzer to complement its healthcare portfolio, in addition to leveraging its APS expertise in precision injection moulding to expand its presence in the drug delivery devices market. Haselmeier GmbH, a Swiss-German drug delivery device developer and manufacturer.

The Drug Delivery Devices Global Market Report 2023 covers regional data on drug delivery devices market size, drug delivery devices market trends and drivers, opportunities, strategies, and drug delivery devices market competitor analysis. The countries covered in the drug delivery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Drug delivery devices are used to deliver specific drugs to a specific part of the body to cure diseases. Drug delivery devices used in various patient care settings, such as hospitals, diagnostic centers, clinics, and home care settings, are included in this market.

View More Reports Related To The Drug Delivery Devices Market –
Implantable Drug Delivery Devices Global Market Report 2023
Injectable Drug Delivery Devices Global Market Report 2023
Liposomal Drug Delivery Devices Global Market Report 2023

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