PUBLISHER: The Business Research Company | PRODUCT CODE: 1619553
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619553
Drug and gene delivery devices are specialized tools designed to transport pharmaceuticals or genetic material into the body for therapeutic purposes. These devices enable targeted treatment of diseases at the molecular level, enhancing precision and efficacy. They play a vital role in advancing personalized medicine by ensuring controlled release and optimal delivery of therapeutic agents to specific cells or tissues, thereby minimizing side effects and maximizing treatment effectiveness.
The main vector types for drug and gene delivery devices include viral and non-viral vectors. Viral gene delivery involves the use of genetically engineered viruses to introduce therapeutic genes into target cells. These methods can be performed in situ (directly within the body) or ex vivo (outside the body, followed by reintroduction). The routes of administration for these devices include oral, inhalation, transdermal, injectable, ocular, nasal, and topical methods.
The drug and gene delivery devices market research report is one of a series of new reports from The Business Research Company that provides drug and gene delivery devices market statistics, including drug and gene delivery devices industry global market size, regional shares, competitors with a drug and gene delivery devices market share, detailed drug and gene delivery devices market segments, market trends and opportunities, and any further data you may need to thrive in the drug and gene delivery devices industry. This drug and gene delivery devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The drug and gene delivery devices market size has grown strongly in recent years. It will grow from $0.56 billion in 2023 to $0.61 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth during the historic period can be attributed to advancements in healthcare infrastructure, the expansion of personalized gene therapy programs, a greater focus on preventive healthcare, the rising prevalence of rare and orphan diseases, and increased public awareness about health and treatment options.
The drug and gene delivery devices market size is expected to see strong growth in the next few years. It will grow to $0.86 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth projected for the forecast period can be attributed to the rising incidence of chronic diseases, increasing demand for personalized medicine, greater awareness and adoption of gene therapy, a demand for non-invasive and minimally invasive procedures, and the growing popularity of direct-to-patient delivery models. Key trends expected include advancements in biotechnology and genetic engineering, technological improvements in drug delivery systems, increased investment in research and development, the development of novel delivery platforms, and progress in diagnostic technologies.
The growing adoption of gene therapy is anticipated to drive the expansion of the drug and gene delivery devices market in the future. Gene therapy is a medical approach that involves introducing, removing, or altering genetic material within a patient's cells to treat or prevent diseases. The increasing demand for gene therapy stems from its potential to address genetic disorders and chronic diseases at their source, providing transformative treatment options where conventional therapies may fall short. Drug and gene delivery devices play a crucial role in gene therapy by ensuring precise targeting and controlled release of therapeutic genes, which enhances the effectiveness of treatments. For example, in November 2023, the National Centre for Biotechnology Information, a US-based scientific resource, projected that the number of new patients receiving gene therapies would rise from 16,244 in 2020 to 94,696 by 2025. Thus, the growing adoption of gene therapy is fueling the growth of the drug and gene delivery devices market.
Leading companies in the drug and gene delivery devices market are concentrating on developing advanced products, including artificial intelligence (AI) technology, to secure a competitive advantage. In drug delivery, AI technology involves using AI techniques and algorithms to enhance the efficiency, precision, and effectiveness of delivery systems. For instance, in December 2023, Envoya Inc., a US-based company specializing in polymer-based nanoparticles for targeted delivery, introduced a new gene therapy drug delivery platform. This platform integrates biopolymer nanoparticles with AI to address key limitations of current gene therapy technologies, such as viral vectors and lipid nanoparticles. The goal is to overcome existing challenges related to safety, payload capacity, and tissue targeting in gene therapy delivery systems.
In March 2022, Sandoz Group AG, a Switzerland-based pharmaceutical company, acquired Coalesce Product Development Limited for an undisclosed amount. This acquisition was aimed at enhancing Sandoz's portfolio of respiratory medicines and improving patient access to high-quality, complex therapies. Coalesce Product Development Limited is a UK-based company specializing in medical and drug delivery devices.
Major companies operating in the drug and gene delivery devices market are Merck & Co. Inc., AbbVie Inc., Bayer AG, AstraZeneca plc, Medtronic plc, Amgen Inc., Moderna Inc., Biogen Inc., Sarepta Therapeutics Inc., SCIEX, Halozyme Therapeutics Inc., ViiV Healthcare Limited, Uniqure NV, Cytokinetics Inc., Prothena Corporation plc, Intellia Therapeutics Inc., Voyager Therapeutics Inc., sfm medical devices GmbH, Inovio Pharmaceuticals Inc., GenSight Biologics S.A., CRISPR Therapeutics
North America was the largest region in the drug and gene delivery devices market in 2023. The regions covered in the drug and gene delivery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the drug and gene delivery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The drug and gene delivery devices market consists of sales of microspheres and microneedles, electroporation devices, bioadhesive systems, and gene therapy vectors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Drug And Gene Delivery Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on drug and gene delivery devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for drug and gene delivery devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The drug and gene delivery devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.