Drug Delivery Devices Market Size Worth $345.8 Billion by 2027: Grand View Research, Inc.

Drug Delivery Devices Market Size Worth $345.8 Billion by 2027: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, April 28, 2020

SAN FRANCISCO, April 28, 2020 /PRNewswire/ -- The global drug delivery devices market size is expected to reach USD 345.8 billion by 2027, expanding at a CAGR of 6.15% over the forecast period, according to a new report by Grand View Research, Inc. Growing prevalence of cancer, neurological disorders, diabetes, and other infectious diseases is expected to drive the adoption of drug delivery devices in the coming years. In addition, increasing product launches for various applications such as ophthalmology, neurology, and oncology are also expected to propel the market growth. Growing adoption of wearable drug delivery devices for its usage in home-care settings is also expected to drive the market.

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Key suggestions from the report:

Read 140 page research report with ToC on "Drug Delivery Devices Market Size, Share & Trends Analysis Report By Application, By Route of Administration (Oral, Transdermal, Injectable), By End Use, By Vehicles, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/drug-delivery-devices-market

Hydrogel is one of the prominent drug delivery vehicles and includes supramolecular hydrogels, DNA hydrogels, bio-inspired hydrogels, multi-functional and stimuli-responsive hydrogels. These advanced hydrogels are used for various applications such as ophthalmic, oral, intestinal, cardiac illness, and cancer. Similarly, other vehicles such as liposomes, nanoparticles, and micelle are also being developed for various applications.

Key players present in the market are adopting various strategies such as mergers and acquisitions, partnership, and collaborations to develop and improve drug delivery devices for various applications. Moreover, end-users are also forming partnerships with companies to acquire drug delivery devices for training purpose and research studies. In addition, market players are also forming distribution agreement to expand the reach of their products. Therefore, alliances made by the players are expected to drive the market growth during the forecast period. 

Grand View Research has segmented the global drug delivery devices market based on route of administration, application, end use, vehicle, and region:

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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