Drug Delivery Devices Market Trends Include Nifty Products Such As The Microneedle

Drug Delivery Devices Market Report 2021: COVID 19 Implications And Growth To 2030

Drug Delivery Devices Global Market Report 2021: COVID 19 Implications And Growth To 2030

The Business Research Company’s Drug Delivery Devices Global Market Report 2021: COVID-19 Implications And Growth to 2030

LONDON, GREATER LONDON, UK, July 12, 2021 /EINPresswire.com/ — The microneedle (MN) is a highly efficient and versatile medical device technology, due to its prominent properties including painless penetration, low cost, excellent therapeutic efficacy, and relative safety. The major players operating in the global microneedle drug delivery system include 3M, Vetter Pharma International GmbH, nano Biosciences LLC, and Nano Pass. The microneedles are fabricated using biodegradable polymers, in which drugs or vaccines are encapsulated. Once the microneedles dissolve in the skin, the drug gets released. This novel delivery method allows a wider variety of molecules to pass the skin’s barrier, thus allowing the transdermal delivery to be applied to a large range of clinical applications, including diabetes, severe osteoporosis, and influenza vaccination.

Companies in the drug delivery devices market are collaborating with other companies within the industry in order to strengthen their product portfolio as well as to expand their footprint across different geographies. For example, in December 2019, Leo Pharma, a Danish pharmaceutical company, has collaborated with Portal Instruments to build Portal’s advanced needle-free drug delivery system for use in conjunction with LEO Pharma’s research and approved drug portfolio. This simplifies administration and removes the need for sharp containers at home, and also decreases the time required for self-injections.

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The global drug delivery devices market size is expected to grow from $40.7 billion in 2020 to $42.76 billion in 2021 at a compound annual growth rate (CAGR) of 5.1%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $50.9 billion in 2025 at a CAGR of 4.5%, owing to the COVID-19 pandemic. Drugs used for COVID-19 treatment are both oral and injectable; however, a marginal increase is expected for pulmonary or respiratory-based drug delivery devices.

The major players covered in the global pharmaceutical drug delivery market are F. Hoffmann-La Roche Ltd, 3M Company, Pfizer Inc., Baxter International, BD, Novartis AG, Gerresheimer AG, Johnson & Johnson Services, Inc., Bayer AG, GlaxoSmithKline plc, B. Braun Melsungen AG, Cipla Inc., Boehringer Ingelheim, Antares Pharma, Sulzer Ltd, Sanofi, Novosanis, MEDMIX SYSTEMS AG, Merck & Co., Inc., Insulet Corporation, OraSure Technologies, Inc., Enable Injections, West Pharmaceutical Services, Inc., SMC Ltd., ViVO Smart Medical Devices Ltd., Smith Medical, CareFusion Corporation, Abbott Laboratories, Nipro Corporation, Allergan, Catalent.

TBRC’s global drug delivery devices market report is segmented by route of administration into oral drug delivery, injectable drug delivery, topical drug delivery, ocular drug delivery, pulmonary drug delivery, nasal drug delivery, transmucosal drug delivery, implantable drug delivery, by patient care setting into hospitals, diagnostic centers, ambulatory surgery centers/clinics, home care settings, others, and by application into cancer, infectious diseases, respiratory diseases, diabetes, cardiovascular diseases, autoimmune diseases, central nervous system disorders, others.

Drug Delivery Devices Global Market Report 2021: COVID-19 Implications And Growth to 2030 is one of a series of new reports from The Business Research Company that provides drug delivery devices market overview, forecast drug delivery devices market size and growth for the whole market, drug delivery devices market segments, and geographies, drug delivery devices market trends, drug delivery devices market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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