Drug Delivery Systems Market Scope Report

Global Drug Delivery Systems Market Highlights Over 2023 - 2033

The global drug delivery systems market is estimated to garner a modest revenue by the end of 2033 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2033. Further, the market generated a notable revenue of in the year 2022. Market growth is primarily driven by increased vaccination of various diseases. According to the World Health Organization, in 2021, the global coverage of haemophilus influenza type b vaccine is nearly 71%, for hepatitis B is around 80% and nearly 80% of infants all over the world received polio vaccination.

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Owing to lifestyle disorder, unhealthy eating habits, sleeping disorder, the cases of chronic disease are constantly rising. According to the World Health Organization, about 17.9 million people are dying of cardiovascular disease every year, and cardiovascular is the primary reason for most of the deaths in the world. In addition, higher demand for COVID-19 vaccines is expected to elevate the growth of drug delivery systems market. In 2020, BD (Becton, Dickinson and Company) received an order of more than 1 billion injection required for global COVID-19 vaccination.

Global Drug Delivery Systems Market: Growth Drivers and Challenges

Growth Drivers

• Rapid Covid-19 Vaccination Drive all over the World

Covid-19 vaccination has spiked the opportunities for drug delivery systems market. the demand of syringes boosted the production of injectable drug delivery. According to the statistics of Our World in Data, globally, 3.87 million of vaccination is done every day and 12.69 billion doses has been given worldwide.

• Technological Advancement and Innovations in Drug Delivery Systems

The development of technology of the system has always favored the market growth. For instance, a new technology for delivering medications through the skin is micro needle arrays. Several microscopic needles, thinner than a strand of hair, are coated or filled with medicine in these arrays. Owing to their small size, the needles penetrate the skin but do not reach the nerves, allowing the drugs to be administered painlessly.

• Surge in Number of People with Chronic Diseases

Rising cases of chronic disease among the population is to spike the demands of drug delivery medium for salvaging the situation and save the patients from dying. According the National Library of Medicine, globally, every 3 in 5 deaths is caused by cardiovascular disease, cancer, chronic lung problem and diabetes.

• Growth of Digital Drug Delivery

The rising popularity and importance of digital drug delivery among companies. Nearly 60% of people working at company size of 5000 believes that digital drug delivery technology is crucial.

Challenges

• Adverse Effects and Data Security Risk Associated with Drug Delivery System

• Stringent Rules and Regulations by the Government

• Lack of Customer Trust Due to Invasive Nature of Drug Delivery

New innovation or any sort of technological advancement are run through various approval process by different regulatory bodies. Government has imposed strict mandates to be followed while checking the product in order to ensure the efficacy and safety of the product. This stringent rules and regulation might limit the production of new product or any development in the old product. Therefore, the factor is likely to hamper the market growth.

The drug delivery systems market is segmented and analyzed for demand and supply by indication into diabetes, cardiovascular diseases, multiple sclerosis and asthma & COPD. The Diabetes segment is anticipated to hold the largest market size by the end of 2033. Rising cases of diabetic patient all over the world. According to the World Health Organization, globally 422 million people are suffering from diabetes. Furthermore, increased usage of insulin injections is to propel the growth of the segment. In 2018, there were approximately 150-200 million patients in need of insulin therapy worldwide.

Global Drug Delivery Systems Market Regional Synopsis

Regionally, the global drug delivery systems market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033. The higher number of people suffering with chronic disease is to propel the growth of the market in North America. According to the Centers for Disease Control and Prevention, in the United States, every 6 in 10 adults have a chronic disease and every 4 in 10 have more than 1 chronic problem. Proactive vaccination in the region is expected to boost North America’s market. As of September 2022, 68% of people have completed the initial concord of COVID-19 vaccination.

Market Segmentation

Our in-depth analysis of the global drug delivery systems market includes the following segments:

Key Companies Dominating the Global Drug Delivery Systems Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global drug delivery systems market that are included in our report are BD (Becton, Dickinson and Company), Gerreshelmer AG, Baxter, Nemara, Kindeva Drug Delivery, West Pharmaceutical Services Inc., Ypsomed, Medtronic, E3D Elcam Drug Delivery Devices, AstraZeneca, Merck KGaA and others.

Global Drug Delivery Systems Market: Latest Developments

• September, 2022: Nemara announced Ceile Gross to be a sponsor of their newest launch Wearable Injectors of On Drug Delivery, this product is going to suffice the unmet drug delivery needs in chronic diseases.

• July, 2018: Merck KGaA announces a collaboration with InnoCore Pharmaceuticals to provide latter company’s proprietary SynBiosys biodegradable polymer platform. It is a drug delivery platform develop to reduce the hurdles in injectable formulations.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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