Drug Delivery Devices Market In-Depth Market Research and COVID-19 Trends Analysis
Advancement in drug delivery devices has improved the medication response of patients through effective drug delivery and reduced side effects. Increasing adoption of targeted drug delivery through advanced biomedical systems such as subdermal implants has significantly evolved the market landscape. However, the systematic side effects of majority of the drugs are persistent in treating wide range of diseases such as unwanted drowsiness due to oral drugs used for sessional allergies. The manufacturers and government institutes are focusing on development of advanced drug delivery devices to minimize the side effects of drugs due to inefficient drug delivery. Increasing investment in development of advanced biomedical devices, patient centric medication, and novel drug delivery systems are the major factors driving growth of the global drug delivery devices market.
North America contributed the largest share to the global drug delivery devices market in 2019 owing to the presence of leading medical device manufacturers, prevalence of chronic and infectious diseases, and increasing investment in development of advanced drug delivery devices. The leading manufacturers are focusing on the development of advanced devices for improved drug delivery with minimal side effects on the non-target tissues or systems, which is anticipated to intensify the competition in the global market. Asia Pacific contributed a prominent share to the global market in 2019 and is expected to be the fastest growing geography during the forecast period. Increasing awareness regarding advanced medical technologies and rising adoption across the major countries are the key attributes driving the Asia Pacific drug delivery devices market.
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The report titled “Drug Delivery Devices Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global drug delivery devices market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, Becton, Dickinson and Company reported revenues of USD 17.3 billion in 2019 and the product segment analysis of the company indicates that BD Medical business segment of the company dominated revenue in 2019.
The global drug delivery devices market is segmented based on route of administration, mode of delivery, and geography. Based on route of administration, the global drug delivery devices market is segmented into oral, inhalation, transdermal, injectable, ocular, nasal, topical, and others. Based on mode of delivery, the global drug delivery devices market is segmented into in-situ, and ex-vivo. Based on geography, the global drug delivery devices market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on drug delivery devices. Further, market share of prominent companies in the global Drug Delivery Devices market would also be estimated. For instance, Becton, Dickinson and Company operates through three business segments namely BD Medical, BD Life Sciences, and BD Interventional. The drug delivery devices are delivered under BD Medical business segment of the company with revenue contribution of US$ 9.1 billion in 2019.
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The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the drug delivery device manufacturers. The global drug delivery devices market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the drug delivery devices business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global drug delivery devices market.