Advanced Drug delivery systems Advanced Drug Delivery Systems The expression “drug delivery systems” alludes to the innovation used to introduce the drug to the ideal body site for drug delivery and retention.
Advanced Drug Delivery Devices Market - Outline
Advanced Drug delivery systems Advanced Drug Delivery Systems The expression “drug delivery systems” alludes to the innovation used to introduce the drug to the ideal body site for drug delivery and retention. These gadgets are moderately less exorbitant and can be planned as supply, network, and osmotic systems to convey drugs. The impacts of non-biodegradable drug-eluting gadgets are very quickly reversible upon evacuation. Agony the board, contraception, misuse discouragement, CNS wellbeing, chemical guideline, oncology, and diabetes, among others are a portion of the key regions where non-biodegradable drug-eluting gadgets discover application.
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Mechanical headways and new item dispatches are relied upon to give impulse to the market. The developing weight of sicknesses is making it significant for players working in the market to fabricate creative, innovatively advanced gadgets that give viable therapy to illnesses. Organizations are zeroing in on innovative work of drug delivery systems and dispatching advanced drug delivery gadgets to oblige the requirements of patients and empower powerful delivery of drugs.
Expanding reception of advanced innovation for successfully conveying the drug on the objective site is required to drive the general market development. Besides, utilization of these drug delivery gadgets decreases the odds of results by improving the drug presence at the objective site. This aides in limiting the portion and related results. Also, this aides in diminishing the general item cost by lessening the measure of dynamic drug fixing.
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Advanced drug delivery devices include drug-eluting devices that can be further categorized into biodegradable and non-biodegradable drug delivery systems. Biodegradable drug-eluting devices are used for drug delivery and after implantation these devices decompose over time. They are generally made up of biocompatible materials such as polyesteramide (PEA) and Poly Lactic-co-Glycolic Acid (PLGA). In contrast to biodegradable drug-eluting devices, non-biodegradable drug-eluting devices are made up of biocompatible materials such as silicone rubber (Polydimethylsiloxane - PDMS), polyethylene-vinyl acetate (EVA), and thermoplastic polyurethane (TPU). These devices are relatively less costly and can be designed as reservoir, matrix, and osmotic systems to deliver drugs. The effects of non-biodegradable drug-eluting devices are almost immediately reversible upon removal. Pain management, contraception, abuse deterrence, CNS health, hormone regulation, oncology, and diabetes, among others are some of the key areas where non-biodegradable drug-eluting devices find application.
Rich pool of pipeline products, favorable research landscape, rising prevalence of chronic diseases, rising cases of needlestick injuries, increasing use of biologics, growing demand for biosimilars and generic injectables, and growing aging population, are some of the pivotal factors that are anticipated to propel the demand for advanced drug delivery devices in the coming years.
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Technological advancements and new product launches are expected to provide impetus to the market. The growing burden of diseases is making it important for players operating in the market to manufacture innovative, technologically advanced devices that provide effective treatment for diseases. Companies are focusing on research and development of drug delivery systems and launching advanced drug delivery devices to cater to the needs of patients and enable effective delivery of drugs.
In terms of application, the advanced drug delivery devices market has been divided into seven main application areas - Women’s Health, Diabetes, Oncology, Pain Management, Cardiology, Central Nervous System (CNS), Intraocular Drug Delivery, and Others. Advanced drug delivery devices for women’s health includes intra-vaginal rings (IVRs), contraception implants, and others; for diabetes it includes exenatide delivery devices, insulin delivery devices and others; for oncology, the devices list includes prostate cancer implants, and chemo ports; for pain management, it includes infusion pump systems, sub dermal implants, and pain management ports; for cardiology, drug eluting stents and others are included in the list. Over and above the above mentioned list, advanced drug delivery devices also includes central nervous system (CNS) devices, intraocular drug delivery devices and others.
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Based on geography, the advanced drug delivery devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America dominates the advanced drug delivery devices market, with the U.S. accounting for a major share. However, Asia-Pacific is expected to witness highest CAGR during the forecast period. The expected growth in the Asia-Pacific region can be attributed to rising cases of chronic diseases, growing aging population, and investments by major companies in the area of R&D. Low cost of clinical trials and cheap labor are some of the other reasons due to which players have forayed into the Asian market.
Key players operating in the global advanced drug delivery devices market are Medtronic, plc., Boston Scientific Corporation, C.R. Bard (Becton, Dickinson and Company), Allergan plc., Merit Medical Systems, Inc., Cook Group Incorporated, Merck & Co., Inc., Pfizer Inc., Abbott Laboratories, Intarcia Therapeutics, Inc., Endo Pharmaceuticals Inc., pSivida Corp., and Delpor, Inc., amongst others.
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