The global “Drug Delivery Systems Market” is projected to reach USD 45.20 billion by 2027, exhibiting a CAGR of 6.8% during the forecast period. Increasing prevalence of multiple chronic conditions (MCCs) worldwide is expected to be the leading factor driving the growth of this market, finds Fortune Business Insights™ in its report, titled “Drug Delivery Systems Market Size, Share Industry Analysis, By Type (Inhalation, Transdermal, Injectables and Others), By Device Type (Conventional and Advanced), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others) and Regional Forecast, 2020-2027”.
MCCs refer to the existence of more than one chronic condition in an individual. According to a study published by the World Economic Forum (WEF), 33% of adults around the world suffer from a combination of MCCs such as cardiovascular disease with diabetes and depression or even cancer. Precision Drug Delivery Systems can play a crucial role in managing these conditions as they are able to administer drugs at the exact location of the disease. As incidence of chronic conditions rises, the demand for these systems is likely to spike in the coming years.
Get Request a Sample Copy of the Drug Delivery Systems Report:
Major Drug Delivery Systems Market Key players covered in the report include:
- Pfizer Inc.(U.S)
- West Pharmaceutical Services, Inc.(U.S)
- Medtronic (Ireland)
- Baxter International Inc. (S)
- BD (Becton, Dickinson and Company)(U.S)
- Ypsomed (Switzerland)
- Nemera (France)
- Gerresheimer AG (Germany)
- 3M (S)
Drug Delivery Systems Market Analysis 2021:
North America to Hold Dominant Lead in the Market; Europe to Follow Closely
Among regions, North America is expected to dominate this market share during the forecast period owing to the active adoption of advanced drug delivery systems, especially for care of the elderly populace. Besides this, increased funding for medical RD activities is also feeding the growth of this market. In 2019, the market size in the region was at USD 10.65 billion.
In Europe, the top growth driver is the rising prevalence of chronic diseases, coupled with the presence of large pharmaceutical companies, especially in Ireland, UK, Germany, and France. The market in Asia-Pacific is expected to be fueled by the expanding patient pool in India and China and the spreading awareness of the advantages of Drug Delivery Systems in the region.
As per the report findings, the market value was at USD 26.08 billion in 2019. The report also offers the following information:
- Comprehensive analysis of the impact of COVID-19 outbreak on the market;
- Detailed assessment of the market trends, drivers, and restraints;
- In-depth examination of the regional dynamics and competitive environment shaping the market; and
- Careful study of all the possible market segments.
Click here to for a more detailed short-term and long-term impact analysis of COVID-19 on this market.