Dublin, Aug. 06, 2021 (GLOBE NEWSWIRE) -- The "Drug Delivery Devices Global Market Report 2021: COVID-19 Implications and Growth to 2030" report has been added to ResearchAndMarkets.com's offering.
Drug Delivery Devices Global Market Report 2021 covers this critical market and the impact on it from the COVID-19 virus. It provides strategists, marketers and senior management with the critical information they need to assess the increasing demand for drug delivery devices which play a critical role in the treatment of patients with COVID-19.
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.
The global drug delivery devices market is expected to grow from $40.7 billion in 2020 to $42.76 billion in 2021 at a compound annual growth rate (CAGR) of 5.1%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $50.9 billion in 2025 at a CAGR of 4.5%.
Drugs used for Covid-19 treatment are both oral and injectable; however, a marginal increase is expected for pulmonary or respiratory-based drug delivery devices.
The regulatory changes related to medical devices is expected to restraint the growth of drug delivery devices market. 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, penalties at a global level.
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.
Companies in the drug delivery devices market are collaborating with other companies within the industry in order to strengthen their product portfolio as well as to expand their footprint across different geographies. For example, in December 2019, Leo Pharma, a Danish pharmaceutical company, has collaborated with Portal Instruments to build Portal's advanced needle-free drug delivery system for use in conjunction with LEO Pharma's research and approved drug portfolio. This simplifies administration and removes the need for sharp containers at home, and also decreases the time required for self-injections.
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 rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, cancer and other diseases is expected to drive the drug delivery devices market.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 pharmaceutical industries. Research and development (R&D) in drug delivery are increasing throughout the world due to increasing prevalence of these diseases.
Most of the pharmaceutical companies are focusing on multiple drug delivery technologies for creating excellent advantages and better outcome 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.
Key Topics Covered:
1. Executive Summary
2. Drug Delivery Devices Market Characteristics
3. Drug Delivery Devices Market Trends And Strategies
4. Impact Of COVID-19 On Drug Delivery Devices
5. Drug Delivery Devices Market Size And Growth
5.1. Global Drug Delivery Devices Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Drug Delivery Devices Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Drug Delivery Devices Market Segmentation
6.1. Global Drug Delivery Devices Market, Segmentation By Route Of Administration, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Oral Drug Delivery
- Injectable Drug Delivery
- Topical Drug Delivery
- Ocular Drug Delivery
- Pulmonary Drug Delivery
- Nasal Drug Delivery
- Transmucosal Drug Delivery
- Implantable Drug Delivery
6.2. Global Drug Delivery Devices Market, Segmentation By Patient Care Setting, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Hospitals
- Diagnostic Centers
- Ambulatory Surgery Centers/Clinics
- Home Care Settings
- Others
6.3. Global Drug Delivery Devices Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Cancer
- Infectious Diseases
- Respiratory Diseases
- Diabetes
- Cardiovascular Diseases
- Autoimmune Diseases
- Central Nervous System Disorders
- Others
7. Drug Delivery Devices Market Regional And Country Analysis
7.1. Global Drug Delivery Devices Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Drug Delivery Devices Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
- F. Hoffmann-La Roche Ltd
- 3M Company
- Pfizer Inc.
- Baxter International
- BD
- Novartis AG
- Gerresheimer AG
- Johnson & Johnson Services, Inc.
- Bayer AG
- GlaxoSmithKline plc
- B. Braun Melsungen AG
- Cipla Inc.
- Boehringer Ingelheim
- Antares Pharma
- Sulzer Ltd
- Sanofi
- Novosanis
- MEDMIX SYSTEMS AG
- Merck & Co., Inc.
- Insulet Corporation
- OraSure Technologies, Inc.
- Enable Injections
- West Pharmaceutical Services, Inc.
- SMC Ltd.
- ViVO Smart Medical Devices Ltd.
- Smith Medical
- CareFusion Corporation
- Abbott Laboratories
- Nipro Corporation
- Allergan
- Catalent
For more information about this report visit https://www.researchandmarkets.com/r/dqz88a
