Drug Delivery Systems Market to Partake Significant Development During 2020-2030

Dublin, Ireland, 2020-Oct-15 — /EPR Network/ —

The global drug delivery systems market is projected to expand with a promising 7% CAGR throughout the forecast period between 2020 and 2025. A recent report states that, the coronavirus outbreak has created a sudden and massive influx of patients, which has generated a massive demand for drug delivery systems, which is forcing market players to expand production capacities, boosting market prospects for the foreseeable future.

“Rapid growth in healthcare expenditure in terms of government initiatives towards research is fueling the growth of the global drug delivery systems market. Further, the rising incidences of varied chronic diseases will also contribute substantially to market growth during and after the coronavirus pandemic,” says the FACT.MR report.

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Drug Delivery Systems Market- Key Takeaways

• Targeted drug delivery technology accounts for major market owing to larger investments by market players and reduced risk of drug toxicity.
• Controlled, oral, drug delivery systems are highly popular owing to wide scope of use and easy availability.
• North America is a prominent regional market for drug delivery systems supported by higher research and development investments, in addition to favorable government initiatives.

Drug Delivery Systems Market- Driving Factors

• Rising demand for self-administration of medication, in addition to home based healthcare will support market developments.
• Frequent innovations in drug delivery system capabilities will generate major opportunities for portfolio expansion.
• Higher prevalence of chronic ailments in recent years is a key contributor to the sales of drug delivery systems.

Drug Delivery Systems Market- Major Restraints

• Growing costs associated with modern healthcare procedures is a key factor hampering market growth.
• Issues of product recall are a continuing challenge for drug delivery systems market players.

COVID-19 Impact on Drug Delivery Systems Market

The global coronavirus pandemic is expected to provide leverage to the drug delivery system market. With the rapid growth of infection rates, the gap between demand and supplies has gone up dramatically, forcing manufacturers to boost production capacities. In addition, major players are investing in clinical trials to develop novel drug delivery solutions to complement Covid-19 vaccine development efforts.

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Competitive Landscape

The drug delivery systems market players are primarily emphasizing on research for product development to improve efficacy and to minimize side effects. ILIAS Biologics has received a major patent for an exosome-based, drug delivery systems, for distribution within the United States. Bayer AG, Boston Scientific Corp, Hoffmann La-Roche, Johnson & Johnson Services, Novartis AG, Pfizer Inc., Amgen Inc., and Baxter International Inc. are some of the top drug delivery system market players.

About the Report

This study offers readers a comprehensive market forecast of the drug delivery systems market. Global, regional and country-level analysis of the top industry trends impacting the drug delivery systems market is covered in this FACT.MR study. The report offers insights on the drug delivery systems market on the basis of delivery system (intra uterine implants, pro-drug implants, polymeric drug delivery, and targeted drug delivery), route of administration (oral, injectable, inhalation, transdermal, ocular, nasal, and topical) and application (infectious disease, oncology, ophthalmology, urology, diabetes, CNS, and others) across five regions (North America, Latin America, Europe, Asia Pacific, and MEA).

Media Release: https://www.factmr.com/media-release/1536/global-drug-delivery-systems-market