The Drug and Gene Delivery Devices market is estimated to be valued at US$ 169.3 Bn or Mn 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.

Market Overview:
The drug and gene delivery devices market comprises products such as drug infusion pumps, nebulizers, drug eluting & biodegradable stents, drug coated catheters and transdermal patches. These products are used for delivering drugs into the body for treatment and management of various diseases such as cancer, cardiovascular diseases, pulmonary diseases, diabetes and others.

Market Dynamics:
The drug and gene delivery devices market size is primarily driven by the increasing prevalence of chronic and lifestyle diseases worldwide. For instance, as per the American Diabetes Association in 2021, around 34.2 million people in the U.S. had diabetes. Additionally, rise in research and development activities for development of innovative delivery systems is also expected to propel the market growth over the forecast period. However, stringent government regulations regarding approval of therapeutic genes and delivery systems may hinder the market growth.

SWOT Analysis
Strength: Drug and Gene Delivery Devices have strong potential to cure many genetic and chronic diseases. They allow targeted delivery of therapeutics to specific cells and tissues. Development of nanomedicine based drug delivery systems has improved efficacy and safety of many drugs.
Weakness: High costs associated with development and production of advanced drug delivery systems. Regulatory hurdles and safety issues pose challenges. Biocompatibility and stability issues of some novel materials used in delivery devices.
Opportunity: Rising prevalence of cancer and other diseases drives demand. Growing geriatric population prone to chronic diseases offer growth avenue. Advancements in biologics and gene therapies boost the market.
Threats: Changing reimbursement policies affect the pricing of novel therapies. Strong competition among existing players. Technical challenges in development of some innovative targeted delivery systems.

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 research on gene therapies and nanomedicine based targeted drug delivery.

Regional analysis: North America dominates the global market due to presence of major players and advanced healthcare infrastructure. Asia Pacific exhibits fastest growth aided by rising healthcare spending, increasing research initiatives and large patient pool.

Key players operating in the Drug and Gene Delivery Devices are Pfizer, Inc., Novartis AG, Kite Pharma, Inc., Bluebird bio, Inc., 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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