Industry Background:
Drug delivery devices refer as tools which are made for the delivery of a drug or therapeutic agent via the specific route of administration. Such devices are used as a part of one or more medical treatments. These devices help in increasing the efficiency of drug delivery system by controlling dosage, time, and place of release of the drugs in the body. The market of the Drug Delivery Devices is increasing due to the rising accessibility and affordability of the drug delivery devices, whereas strict regulatory requirements for approval of drug delivery devices may hinder the market growthAccording to AMA, the market for Drug Delivery Devices is expected to register a CAGR of 7.8% during the forecast period to 2026. This growth is primarily driven by Increasing demand for improved drug delivery systems, Rising accessibility and affordability of drug delivery devices and Increasing number of chronic diseases in the region.
Globally, a noticeable market trend is evident Innovations such as infusion pens creating opportunities for new players
. The Medical Devices sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Antares Pharma Inc. (United States), Becton, Dickinson and Company (United States), Bayer AG (Germany), Glaxsmithkline PLC (United Kingdom), Johnson & Johnson Services Inc. (United States), Merck & Co., Inc. (United States), Novartis AG (Switzerland), Pfizer Inc. (United States) and Sanofi. (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
Antares pharma announces the commercial availability of xyosted (testosterone enanthate) injection, which is a new treatment for adult men diagnosed with testosterone deficiency
Market Drivers
- Increasing demand for improved drug delivery systems
- Rising accessibility and affordability of drug delivery devices
- Increasing number of chronic diseases in the region
Market Trend
- Innovations such as infusion pens creating opportunities for new players
- Healthcare at home
- Collaborations and partnerships among companies in the market
Restraints
- Safety, quality and consistent performance
- Lack of skilled and trained professionals to administer drugs
Opportunities
Improving economic conditions in the region and Rising geriatric population, technological advancements, and increasing demand for improved drug delivery systems
Challenges
Strict regulatory requirements for approval of drug delivery devices and Problems related to the use of drug delivery devices such as dosage error
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Drug Delivery Devices Study Sheds Light on
The Drug Delivery Devices Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Drug Delivery Devices industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Drug Delivery Devices industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.