By Daniel Webster, dWeb.News Publisher
Dublin, Sept. 15, 2021 (GLOBE NEWSWIRE) — The “Global Advanced Dermatology Drug Delivery Devices Market: Focus on Product Type, Volume Sold, Analysis and Forecast 2021-2030” report has been added to ResearchAndMarkets.com’s offering.
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.
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?
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 market currently is dominated by needle-and-syringe combination products, which is almost universally disliked, accounts for a large chunk of the market. Most of the advanced drug delivery devices aim to capture some of that share with at least one of the features mentioned previously. The primary driving factors that are expected to boost the growth of the market include the push for connected devices, increasing number of business synergies among drug delivery device manufacturers and pharmaceutical companies leading to the launch of new combination products in the market, the growing focus on prescription/medication/patient adherence, and innovative technologies in drug delivery such as microneedle patches. The key effort to bridge the gap in demand for connected devices is to increase the awareness for such products in emerging countries.
Global Advanced Dermatology Drug Delivery Devices Market Drivers
Presently, the factors driving the growth of the market as per the global advanced dermatology drug delivery devices market report include the global push for connected devices, increasing number of business synergies with pharmaceutical companies, novel technologies in drug delivery, and growing focus on prescription adherence.
As technology continues to evolve, sensors and connectivity are becoming essential elements in drug delivery. Connected devices are expected to be increasingly used for customized disease management. The market acceptance for connected devices is growing, mainly fueled by the overall increase in the adoption of connected devices and patient monitoring amidst the COVID-19 pandemic. Going forward, drug delivery devices are expected to comprise features that promote adherence. With evolving technologies, key players in the market are expected to integrate their offerings with connectivity features through apps. The growing focus on patient convenience is increasingly driving these technological advancements in the case of drug delivery.
Global Advanced Dermatology Drug Delivery Devices Market Challenges
The challenges that are restricting the growth of the market include stringent regulations and concerns around data privacy, and the lack of awareness of advanced dermatology drug delivery devices among a large section of the population in emerging countries.
The concept of connected healthcare is revolutionary. However, it also adds to data privacy concerns. Similar to all connected devices, networked medical devices are prone to security breaches. In terms of product launches, the market has registered a high rate of innovation during 2015-2020. In addition, the concept of connected medical devices is a relatively new concept and needs more time to gain acceptance among the masses, especially in emerging countries.
Global Advanced Dermatology Drug Delivery Devices Market Opportunities
Potential opportunities that are likely to boost the growth of the market include developing a customized apps marketplace for pharma companies, leveraging synergies to expand into emerging markets, and developing low-cost devices to improve sales in price-sensitive markets.
A number of synergies between the manufacturers of advanced dermatology drug delivery devices and third-party software developers/cloud-service providers are expected to act as a catalyst for the development of the customized apps marketplace. Emerging markets present lucrative opportunities for the growth in the adoption of advanced dermatology drug delivery devices. In addition, manufacturers of advanced dermatology drug delivery devices are expected to benefit by marketing similar low-cost devices specifically for low- and middle-income countries (LMICs) to maximize their profits.
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 Topics Covered:
1 Product Definition
2 Scope of Research
3 Research Methodology
4 Industry Analysis
4.1 Technology Landscape
4.2 Supply Chain Analysis
4.3 Funding Scenario
4.4 Regulatory Framework and Government Initiatives
4.5 Patent Analysis
5 Impact of COVID-19 on Global Advanced Dermatology Drug Delivery Devices Market
5.1 Impact on Dermatology Practices
5.2 Impact on the Adoption of Advanced Dermatology Drug Delivery Devices
5.3 Impact on Market Size
5.4 Impact of COVID-19 on Global Advanced Dermatology Drug Delivery Devices Market
5.4.1 Short-Term Impact (2-4 Years)
5.4.2 Mid-Term Impact (5-10 Years)
5.4.3 Long-Term Impact (8-12 Years)
5.5 Entry Barriers and Opportunities
6 Competitive Landscape
6.1 Market Share Analysis
6.2 Key Strategies and Developments
6.2.1 Funding Activities
6.2.2 Mergers and Acquisitions (M&A)
6.2.3 Partnerships, Alliances, and Business Expansions
6.2.4 Regulatory and Legal Activities
6.2.5 New Offerings
6.3 Business Model Analysis
6.4 Pricing Analysis
7 Global Advanced Dermatology Drug Delivery Devices Market Scenario
7.1 Assumptions and Limitations
7.2 Key Findings and Opportunity Assessment
7.3 Global Advanced Dermatology Drug Delivery Devices Market Size and Forecast
7.3.1 Realistic Growth Scenario
7.3.2 Pessimistic/Conservative Growth Scenario
7.3.3 Optimistic Growth Scenario
7.4 Market Dynamics
7.4.1 Impact Analysis
7.4.2 Market Growth Promoting Factors
188.8.131.52 Global Preference for Connected Devices
184.108.40.206 Increasing Number of Business Synergies with Pharmaceutical Companies
220.127.116.11 Novel Technologies in Drug Delivery
18.104.22.168 Growing Focus on Prescription Adherence
7.4.3 Market Growth Restraining Factors
22.214.171.124 Stringent Regulations and Concerns Around Data Privacy
126.96.36.199 Lack of Awareness Among a Large Section of the Population in Emerging Countries
7.4.4 Market Growth Opportunities
188.8.131.52 Development of a Customized Apps Marketplace for Pharma Companies
184.108.40.206 Leveraging Synergies to Expand into Emerging Markets
220.127.116.11 Developing Low-Cost Devices to Improve Sales in Price-Sensitive Markets
8 Global Advanced Dermatology Drug Delivery Devices Market (by Product Type)
8.1 Opportunity Assessment
8.2 Growth Share Matrix
9 Global Advanced Dermatology Drug Delivery Devices Market (by Sales Channel)
9.1 Opportunity Assessment
9.2 B2B Sales Channel
9.3 B2C Sales Channel
10 Global Advanced Dermatology Drug Delivery Devices Market (by End User)
10.1 Opportunity Assessment
10.3 Dermatology Practices
10.4 Home Use
11 Global Advanced Dermatology Drug Delivery Devices Market (by Region)
12 Company Profiles
12.1 AptarGroup, Inc.
12.1.1 Company Overview
12.1.2 Role of AptarGroup, Inc. in the Global Advanced Dermatology Drug Delivery Devices Market
12.1.3 Product Portfolio
18.104.22.168 Volume of Bottles Sold
22.214.171.124.1 Less than 50 ml
126.96.36.199.4 More than 150ml
12.1.5 Research and Development (R&D) Insights
12.1.6 Recent Developments
12.1.7 SWOT Analysis
12.2 Becton, Dickinson and Company
12.4 Credence MedSystems, Inc.
12.5 E3D Elcam Drug Delivery Devices
12.6 Kindeva Drug Delivery L.P.
12.7 Latch Medical
12.8 LTS Lohmann Therapie-Systeme AG
12.9 Medicsensors S.L
12.10 Midas Pharma GmbH
12.12 Owen Mumford
12.13 Portal Instruments, Inc.
12.14 Vaxxas Inc.
12.15 West Pharmaceutical Services, Inc.
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