The use of drug delivery devices to administer drugs through the skin is not a new concept and has been done using needle-and-syringe combinations for decades. Advanced dermatology drug delivery devices are based on the concept of drug delivery with added features for reduced pain, enhanced medication adherence, consumer engagement, user-friendly design, and ease of administration. These devices include injectors, patches, airless dispensers and bottles, dermal pumps, valves, and add-on devices for safety and enhanced connectivity.
The global advanced dermatology drug delivery devices market report highlights that the market was valued at $3,348.9 million in 2020 and is expected to reach $8,783.0 million by the end of 2030. The market is expected to grow at a CAGR of 10.52% during the forecast period from 2021 to 2030.
Market Segmentation
Global Advanced Dermatology Drug Delivery Devices Market (by Product Type)
The global advanced dermatology drug delivery devices market report includes advanced dermatology devices for drug delivery. These products include injectors, patches, airless dispensers and bottles, dermal pumps, valves, other devices, and software and apps.
The product segment is being driven by a number of innovations in terms of product design and user engagement. Many players are focusing on having a patient-facing app to enhance medication adherence. As a result, software developers and solution providers are getting involved. Manufacturers can also have in-house custom software development teams for the same purpose.
Global Advanced Dermatology Drug Delivery Devices Market (by Sales Channel)
The global advanced dermatology drug delivery devices market sales channel includes B2B sales channel and B2C sales channel.
Manufacturers across the globe have been focusing on expanding their network of operations either through business synergies or technological advancements in the healthcare industry. Furthermore, the drug-device combinations are usually sold only through the B2B channel.
Global Advanced Dermatology Drug Delivery Devices Market (by End User)
The global advanced dermatology drug delivery devices market by end user includes hospitals, dermatology practices, and home use.
Hospitals are the primary end users for the global advanced dermatology delivery devices market. The adoption of these devices in hospitals and dermatology practices (clinics) has been increasing continuously for vaccination purposes. Moreover, the COVID-19 pandemic has played a key role in accelerating the demand for connected and home use devices. The advancements in drug delivery devices promoting adherence are also propelling the growth of the segment.
Global Advanced Dermatology Drug Delivery Devices Market (by Region)
The different regions covered under the global advanced dermatology drug delivery devices market include North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World.
North America and Europe are two of the largest markets for advanced dermatology drug delivery devices, while developing countries are expected to register strong growth in the adoption of advanced dermatology drug delivery devices in the near future.
Key Market Players and Competition Synopsis
Some of the key players operating in the market include AptarGroup, Inc., Becton, Dickinson and Company, Bespak, Credence MedSystems, Inc., E3D Elcam Drug Delivery Devices, Kindeva Drug Delivery L.P., Latch Medical, LTS Lohmann Therapie-Systeme AG, Medicsensors S.L, Midas Pharma GmbH, Nemera, Owen Mumford, Portal Instruments, Inc., Vaxxas Inc., and West Pharmaceutical Services, Inc.
The global advanced dermatology drug delivery devices market has witnessed several strategic and technological developments in the past few years undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the strategies covered in this segment are funding activities, mergers and acquisitions (M&A), partnerships, alliances, and business expansion, regulatory and legal activities, and new offerings. The preferred strategy for companies has been business synergies followed by funding activities.
Key Questions Answered in the Global Advanced Dermatology Drug Delivery Devices Market Report
• What is the volume sold for each of the key product types in the market?
• What are some of the features of the products available in the market or in the pipeline?
• What are the key regulations governing the global advanced dermatology drug delivery devices market?
• What are the key technological developments expected to have a strong impact on the market in the coming years?
• How has the COVID-19 pandemic impacted the growth of the global advanced dermatology drug delivery devices market?
• Who are the leading players who held major share of the advanced dermatology drug delivery devices market in 2020?
• How has the patent filing trend in the field of advanced dermatology drug delivery devices grown over the years?
• What are the key factors that are expected to promote or restrain market growth?
• What are the likely scenarios in which the global advanced dermatology drug delivery devices market can grow in the future?
• What are the potential scenarios and effects of COVID-19 recovery for the advanced dermatology drug delivery devices market?
• What is the most common sales channel, and how likely is it to dominate the market during the forecast period 2021-2030?
• What is the current revenue contribution of different product types, and how is it expected to be modified during the forecast period?
• What is the current revenue contribution of different end users, and how is it expected to be modified during the forecast period?
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BIS Related Studies
The new research report titled Connected Drug Delivery Devices Market, Global Industry Analysis, and Forecast to 2027 gives a detailed analysis and future forecasts of the market.
The report highlights the significant players, including market size, share, and demand, development.
This report further covers the latest trends, technological advancements, and growth opportunities.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the connected drug delivery devices market include 3M Company, Bayer AG, Biocorp Production SA, Care TRx, CeQur SA, Cohero Health, OPKO Health, Propeller Health, Sagentia (Science Group) and West Pharmaceutical Services, Inc. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Connected Drug Delivery Devices Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/connected-drug-delivery-devices-market/download-sampleMarket DynamicsThe rapid technological advancements and increasing expenditure in the healthcare industry is driving market growth.
Whereas, rising adoption of artificial intelligence and big data analytics in healthcare technology for real-time decision making is expected to offer a potential opportunity during the forecast period.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities.
