Global Drug Delivery Devices Market Report 2021: Market is Estimated to be $22.2 Billion in 2021 and is Expected to Reach $28.7 Billion by 2026

Dublin, Oct. 18, 2021 (GLOBE NEWSWIRE) -- The "Global Drug Delivery Devices Market (2021-2026) by device type, route of administration, application, end-user, vehicle outlook, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Drug Delivery Devices Market is estimated to be USD 22.2 Bn in 2021 and is expected to reach USD 28.7 Bn by 2026, growing at a CAGR of 5.3%.

Key factors, such as the rising geriatric population coupled with increasing chronic ailments such as diabetes, cancer, etc have led to a growth in drug delivery devices. The surge in non-communicable diseases has also led to the demand for non-invasive drug delivery methods. Additionally, the growth of biologics is significantly contributing to the drug delivery device market.

However, factors such as drug recalls and biocompatibility issues with increased side effects are likely to restrain the market growth of drug delivery devices. Moreover, the time taken for approval of novel drugs is also likely to hamper the growth of drug delivery devices due to the subsequent delay in deliveries.

Recent Developments

3M has re-launched its drug delivery systems through Kindeva, a global contract manufacturing/ development firm focusing on drug delivery projects. This is the newly formed independent entity formed along with Altair post the sales of the drug delivery systems units to Altair Capital Partners for USD 650 Mn. - 4th May 2020

Bayer is venturing into an agreement with Exscientia for the identification and optimization of novel lead structures for potential drug candidates in treating cardiovascular and oncological diseases. - 22nd January 2020

Company Profiles

Some of the companies covered in this report are 3M Company, AstraZeneca PLC, Becton, Dickinson, Boehringer Ingelheim group, GlaxoSmithKline plc, Insulet Corporation, Medtronic Plc, Sulzer Ltd. and West Pharmaceuticals Services, Inc.

Market Segmentation

• By Device Type, the market is classified as smart pills, inhalers, drug-eluting stents, safety syringes, implantable drug delivery devices, transdermal patches, and others. Amongst all, the smart pills segment is estimated to hold the highest market share.

• By Route of Administration, the market is classified as Oral, Inhalation, Transdermal, Injectable, Ocular, Nasal, Topical, and Others. Amongst all, the oral route of administration is estimated to hold the highest market share.

• By Application, the market is classified as Oncology, Infectious Diseases, Respiratory Diseases, Diabetes, Cardiovascular Diseases, Autoimmune Diseases, Central Nervous System Disorders, and Others. Amongst all, the diabetes segment is estimated to hold the highest market share during the forecast period.

• By End User, the market is classified as Hospitals, Diagnostic Centers, Ambulatory Surgery Centers/Clinics, Home Care Settings, and Others. Amongst all, the hospital segment holds the highest market share.

• By Vehicle Outlook, the market is classified as a hydrogel, micelle, dendrimer, nanoparticle, liposomes, scaffold, niosomes, and mesoporous materials. Amongst all, the nanoparticle segment is estimated to hold the highest market share.

• By Geography, North America is projected to lead the market.

Market Dynamics

Drivers

• Growing geriatric population and rising ailments

• Increasing demand for non-invasive drug-delivery methods

• Growth in the biologics markets

Restraints

• High cases of drug recalls

• Biocompatibility issues

• High time taken for approval of novel drugs

Opportunities

• Growth in Nanotechnology and technological advancements

• Growing R&D investments

Challenges

• Inefficiencies in delivering poorly soluble drugs

• Lack of trained professionals to administer the drugs

Company Profiles

• Pfizer, Inc

• Johnson & Johnson Services, Inc

• F. Hoffmann-La Roche, Ltd

• Novartis AG

• 3M

• Bayer AG

• uniQure N.V.

• Shenzhen (SiBiono) GeneTech Co. Ltd (Hubei Tongji Benda Ebei Pharmaceuticals)

• Antares Pharma, Inc

• GlaxoSmithKline plc

• AstraZeneca PLC

• Becton Dickinson

• Boehringer Ingelheim group

• Consort Medical plc (Recipharm Group)

• Insulet Corporation

• Medtronic Plc

• Sulzer Ltd.

• West Pharmaceuticals Services, Inc

• Generex Biotechnology

• Panacea Pharmaceuticals Inc.

• Aptar Pharma

• Koninklijke Philips N.V.

• Nemera

• Biocorp Production.

• Eli Lilly and Co.

For more information about this report visit https://www.researchandmarkets.com/r/l2llbw

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