April 20, 2024
Drug and Gene Delivery Devices Market

Drug and Gene Delivery Devices Market: Propelled by Rising Prevalence of Chronic Diseases

Drug and gene delivery devices aim to precisely administer therapeutics and restore health for those in need. These technologies facilitate minimally invasive treatments and help overcome biological barriers to reach targets throughout the body. By enabling controlled and sustained release of drugs, gene therapies, and other biologics, delivery devices optimize efficacy while minimizing unwanted systemic effects or the need for frequent dosing. Their targeted approaches address complex conditions and hold promise for improving quality of life.

The global Drug and Gene Delivery Devices Market is estimated to be valued at US$ 169.3 billion in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Innovation in materials and manufacturing is expanding the potential of drug and gene delivery technologies. Biodegradable polymers, stimuli-responsive formulations, 3D printing applications and other advances enhance control, targeting and sustained effects. Combination product designs that integrate complementary delivery approaches show promise. As the field matures, customized and personalized solutions tailored for individual patients may become more feasible. Partnerships between delivery platform creators and pharmaceutical developers will be important to fully realize the clinical benefits. With rising demand for cost-effective chronic disease management, investments in large-scale production capacities will also be critical to ensuring widespread availability and access.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate due to the large investments required for R&D and production facilities in this market. However, nascent 3D bioprinting technology reduces entry barriers.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of alternative traditional drug delivery options such as pills, injections etc. Buyers can negotiate on price and delivery terms.
Bargaining power of suppliers: Suppliers have moderate power due to availability of substitute materials for 3D bioprinting. However, branded materials give some power to suppliers.
Threat of new substitutes: Threat of substitution is moderate as new innovative drug delivery methods can replace existing ones given funding for R&D. However, substitutes have to prove safety and efficacy.
Competitive rivalry: The competitive rivalry is high among existing players due to rapid technological advancement and regional expansion. Players compete on features, price, and services.

Key Takeaways

The Global Drug And Gene Delivery Devices Market Size is expected to witness high growth. Advancements in 3D bioprinting technology along with customizable drug delivery through implants and injectables drive the market. The global Drug and Gene Delivery Devices Market is estimated to be valued at US$ 169.3 billion in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030.

Regional analysis: North America dominates the market currently due to presence of major players and regulatory support for R&D. However, Asia Pacific is expected to grow at the fastest pace during the forecast period with increasing healthcare expenditure and government initiatives in countries like India and China for bioprinting research.

Key players: Key players operating in the Drug and Gene Delivery Devices markets are 3D Systems Corporation, Cyfuse Biomedical KK, GeSIM GmbH, 3D Bioprinting Solutions, Aspect Biosystems Ltd., Organovo Holdings Inc., ARCAM AB (GE Company), Cellink AB, RegenHU SA, and REGEMAT 3D. Players are focusing on new product launches, collaborations for technological advancements and regional expansion to gain higher market shares.

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