July 24, 2024
Drug And Gene Delivery Devices Market

The Rapid Advancements In Vector Technologies Is Anticipated To Open Up New Avenues For The Drug And Gene Delivery Devices Market

Market Overview:
The drug and gene delivery devices market comprises medical devices that are used for targeted drug and gene delivery. These devices help enhance drug efficacy and reduce side effects by controlled and localized delivery of therapeutic agents such as drugs, genes, and cells. For instance, nebulizers help deliver drugs to the lungs for treating respiratory diseases like asthma and COPD. Implantable drug delivery devices such as drug-eluting stents control the local delivery of drugs to prevent restenosis post angioplasty. Gene delivery devices such as gene guns help deliver genetic materials into target cells for gene therapy applications.

Market Dynamics:
The drug and gene delivery devices market is driven by rapid advancements in vector technologies for efficient gene delivery. For instance, the advent of adeno-associated viral vectors and non-viral vectors such as nanoparticles have improved gene delivery efficacy. Additionally, the success of novel therapies such as CAR T-cell therapy is also driving demand for advanced cell delivery devices in the market. However, high development costs associated with gene and drug delivery devices limit their widespread adoption. To overcome this challenge, market players are focusing on developing cost-effective and targeted delivery approaches such as in situ therapeutics and localized drug release systems

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.

Segment Analysis

The drug and gene delivery devices market can be segmented based on type, disease indication, end user, and region. Based on type, the self-injection systems segment dominated the market in 2022 owing to the ease of use and home administration associated with these devices. Self-injection devices allow for increased access to medication and reduce burden on healthcare systems.

PEST Analysis

Political: Regulations regarding approval and commercialization of advanced therapeutics impact the market. Streamlined approval processes promote market growth.
Economic: High healthcare costs drive demand for devices that improve access and efficiency of treatment. The projected 11% CAGR through 2030 indicates strong economic opportunities.
Social: Growing awareness about genetic diseases and availability of new treatment options influence consumer behavior and market demand.
Technological: Advancements in gene therapy and targeted drug delivery systems enhance treatment outcomes. Miniaturization and remote monitoring capabilities in devices improve user experience.

Key Takeaways

The global drug and gene delivery devices market size was valued at US$ 169.3 billion in 2023 and is expected to reach US$ 532.7 billion by 2030, growing at a CAGR of 11%. North America dominated the market in 2023 due to presence of major players and rising adoption of advanced treatment technologies in the region. Asia Pacific is anticipated to be the fastest growing market over the forecast period owing to growing healthcare infrastructure, rising awareness about genetic disorders, and increasing collaborative efforts between regional and global industry 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.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it