The USA drug delivery devices market size is expected to register a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the reduction in the side effects of the drugs if available at the location for use. Drug delivery devices decrease the side effects of drugs and also reduce the cost of the product with the help of various ingredients available at the pharmaceuticals.
Drug delivery device is a specialized tool that helps to deliver drugs through different route of administration. These devices are mainly used for treatment of wide variety of diseases. There are various ways by which medications can be taken including inhalation, absorption, intravenous injection, through skin, and swallowing. Drug delivery devices control the location and rate of drug released in the body.
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These devices can be implantable or conventional. Drug delivery devices have different features including specific therapeutic effect, high degree of safety, target specificity, dose optimization, and efficiency. For this, drug delivery devices are used to deliver drugs in the specific device type. The drug delivery devices have changed suddenly in past few decades and even more changes are anticipated in the coming future. Increasing geriatric population in USA and growing adoption of biologics is estimated to fuel the market.
Market Trends, Drivers, Restraints, and Opportunities
• Rising spread of various chronic diseases is expected to boost the market growth in the coming years.
• Rapid growth of the healthcare industry is key factors spurring the market expansion.
• Stringent government regulations and policies related to delivery devices are projected to hamper the market growth during the forecast period.
• Inefficient drug delivery devices for soluble drugs present as major factors that can restrict the market expansion.
• R&D investment and technological advancement in drug delivery devices are estimated to create lucrative opportunities for the market players.
Market Segment Insights:
Injectable segment is projected to constitute a major market share
In terms of route of administration, the USA Drug Delivery Devices market is segregated into topical, ocular, oral, injectable, and others. The injectable segment is expected to account for a key share of the market during the forecast period owing to innovation and adoption of various new technologies including pre-filled syringes & different types of injectors coming in the market. However, the oral segment is anticipated to expand at a rapid pace during the forecast period due to easy availability, usage, stability, and highly preferred. There are various types of oral system available in the market that includes suspensions, tablets, capsules, syrups, and solutions.
Cancer segment is projected to hold a key market share
On the basis of applications, the market is segmented into infectious diseases, diabetes, cardiovascular, cancer, and others. The cancer segment is expected to represent a key share of the market in the coming years due to rising number of cancer cases as well as patients and people are getting aware about the treatments available for cancer. On the other hand, the infectious diseases segment is anticipated to expand at a rapid pace during the forecast period owing to growing incidences of hepatitis, pneumonia, HIV-AIDS, tuberculosis, and others.
Hospitals segment is projected to account for a large market share
Based on end-users, the USA Drug Delivery Devices market is divided into ambulatory surgical centers, hospitals, and others. The hospitals segment is expected to constitute a key share of the market during the forecast period owing to high usage of drugs for different treatments and growing various diseases and infections. However, the ambulatory surgical centers segment is anticipated to expand at a rapid pace during the forecast period due to rising focus in development and adoption of the drug delivery devices.
Key players competing in the USA Drug Delivery Devices market include F.Hoffmann-La Roche Ltd.; GlaxoSmithKline Plc.; Bayer AG; Novartis AG; and Johnson & Johnson. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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