PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550576
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550576
Global drug delivery device market is estimated to be valued at USD 210.20 Bn in 2024 and is expected to reach USD 379.11 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 210.20 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: | 8.80% | 2031 Value Projection: | US$ 379.11 Bn |
Drug delivery device refers to various technologies used to transport pharmaceutical compounds in the body. Effective drug delivery ensures availability of right concentrations of active pharmaceutical ingredients at the site of action. It helps improve efficacy of drugs and patient compliance. Rapid developments in biologics, personalized medicine and increasing prevalence of chronic diseases can boost demand for advanced drug delivery systems. Constant innovations in drug delivery devices focused on enhancing safety, precision and ease-of-use can drive the market growth in the near future.
Global drug delivery device market growth is driven by rising incidence of chronic illnesses such as diabetes, cancer and cardiovascular diseases. Growing geriatric population and increasing healthcare spending also drives the market growth. However, high costs associated with development of advanced delivery systems can hamper the market growth. Regulatory hurdles for innovative products can also hamper the market growth. Emerging economies offer lucrative opportunities for market players. Escalating demand for self-administered injection devices and home healthcare can offer market growth opportunities. Continued technological advancements in portable and wearable delivery systems can also offer growth opportunities. Adoption of smart devices enabled with internet of things is a key trend in the market.
This report provides in-depth analysis of the global drug delivery device market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global drug delivery device market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Becton, Dickinson and Company, Baxter International, Pfizer, Gerresheimer, and Nemera
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global drug delivery device market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global drug delivery device market
Detailed Segmentation-