Market Overview:
Drug and Gene Delivery Devices are used to deliver functional proteins, DNA, RNA and gene therapies to targeted cells and tissues. These devices help administer drugs or genes to treat various diseases such as cancer, genetic disorders, infectious diseases etc. They ensure safe, efficient and targeted delivery of therapeutics at cellular and molecular levels.
Market key trends:
Targeted delivery is one of the major trends being witnessed in the drug and gene delivery devices market. Targeted delivery devices help deliver therapeutic payloads such as drugs, genes and proteins selectively and directly to the disease affected sites or organs resulting in increased efficacy and reduced side effects. These devices functionalize nanoparticles and other carriers to achieve active targeting using mechanisms such as receptor-mediated endocytosis. Examples of targeted delivery devices include ligand conjugated nanoparticles, aptamer conjugated liposomes, antibody drug conjugates etc. The ability of these devices to selectively deliver high concentrations of therapeutics at target tissue for prolonged periods is expected to drive their demand over the forecast period.
The global Drug and Gene Delivery Devices Market Size is estimated to be valued at US$ 169.3 Billion in 2023 and is expected to exhibit a CAGR of 11 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Porter's Analysis
Threat of new entrants: The cost associated with R&D, regulatory approvals and establishing distribution channels acts as barriers for new players. Bargaining power of buyers: Individual consumers have low bargaining power but large pharmaceutical companies can negotiate pricing and contracts. Bargaining power of suppliers: Few large players dominate the supply chain, giving them significant influence on pricing. Threat of new substitutes: Disease specific nature of drugs limits threat but gene therapies offer substitutes. Competitive rivalry: Intense competition exists between existing players to develop novel therapies and delivery mechanisms.
SWOT Analysis
Strengths: Growing demand for gene and cell therapies drives the market. Weaknesses: High costs associated with development and regulatory risks. Opportunities: Untapped emerging markets offer scope. Threats: Drug delivery challenges, biosimilarity, and reimbursement policies pose threats.
Key Takeaways
The global drug and gene delivery devices market is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing demand for advanced therapeutics. Regionally, North America dominates the market currently due to presence of advanced healthcare infrastructure and major players. Asia Pacific is poised to grow at fastest pace due to rising healthcare investments, presence of contract manufacturing hubs and growing disease prevalence.
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.
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