Drug and Gene Delivery Devices Market Is Estimated to Witness High Growth

The global Drug and Gene Delivery Devices Market is estimated to be valued at US$ 169.3 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Drug and gene delivery devices play a vital role in effective administration of pharmaceutical and biotech products. These devices help in safe and targeted delivery of drugs, proteins, vaccines and genes into the body through various routes of administration including oral, pulmonary, intravenous, intradermal and others.

Market key trends:
One of the key trends driving the growth of drug and gene delivery devices market size is the increasing adoption of advanced drug delivery systems. Advanced drug delivery systems help in overcoming challenges associated with conventional drug delivery methods such as short half-life, multiple dosing and side effects. These systems offer controlled, targeted and sustained drug release leading to better patient compliance and treatment outcomes. Attributes like controlled drug release, minimal toxicity and targeted drug delivery have increased preference for advanced drug delivery systems globally.

Segment Analysis
The global Drug and Gene Delivery Devices market is segmented into viral and non-viral delivery systems. The viral delivery systems segment dominates the market owing to the high transduction and transfection efficiency offered by viral vectors in delivering therapeutic genes inside the target cells. Lentivirus and adenovirus are the commonly used viral vectors for therapeutic gene delivery.

Key Takeaways
The global Drug and Gene Delivery Devices market is expected to witness high growth, exhibiting a CAGR of 11% over the forecast period, due to increasing prevalence of cancers and rising demand for advanced treatment options.

Regional analysis
North America dominates the global Drug and Gene Delivery Devices market owing to the presence of major players, advanced healthcare infrastructure, and rising research funding for drug and gene therapies in the US and Canada. Asia Pacific is expected to exhibit the fastest growth over the forecast period due to increasing healthcare expenditure and expanding healthcare facilities in developing countries such as China and India.

Key players
Key players operating in the Drug and Gene Delivery Devices market are Pfizer, Inc., Novartis AG, Kite Pharma, Inc., Bluebird bio, Inc., Becton Dickinson and Company, Amgen, Inc., Vericel Corporation, uniQure N.V., Spark Therapeutics, Inc., Renova Therapeutics, Orchard Therapeutics plc, Kolon Tissue Gene, Inc., Human Stem Cell Institute, Dendreon Pharmaceuticals, Helixmith Co., Ltd (ViroMed Co., Ltd), Bausch & Lomb Incorporated, and Castle Creek Biosciences, Inc (Fibrocell Technologies, Inc.), among others. These players are focusing on new product launches and collaborations to strengthen their market position.

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