A recent report published by Infinium Global Research on the advanced dermatology drug delivery devices market provides an in-depth analysis of segments and sub-segments in the global as well as regional advanced dermatology drug delivery devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional advanced dermatology drug delivery devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts and dollar values of the global advanced dermatology drug delivery devices market. According to the report, the global advanced dermatology drug delivery devices market is projected to grow at a CAGR of 8% over the forecast period of 2022-2028.
The revenue generated by the advanced dermatology drug delivery devices market was about USD 5 billion in 2022 and is expected to be around USD 8 billion in 2028 and is expected to grow with a CAGR of about 8% over the forecast period 2022-2028. Diagnosing, treating, and preventing diseases of the hair, nails, skin, oral cavity, and genitals are concerned with dermatology. Dermatologists generally manage hair, nails, skin, and some cosmetic problems. Drug delivery devices are specifically engineered medical devices. These devices majorly focus on delivering therapeutic agents at the target sites. Advanced dermatology drug delivery devices are made up of materials such as glass, plastic, and polymers. These devices can be either disposable or reusable. Advanced dermatology drug delivery devices are used at the target sites through the skin. A wide variety of drugs, vaccines, and therapeutic agents are delivered by advanced dermatology drug delivery devices to the target sites through the skin. To increase safety and enhance connectivity these devices include syringes, patches, dispensers, vacuum bottles, leather pumps, valves, and additional devices.
The key factors driving the market growth include novel technologies in drug delivery, a growing focus on prescription adherence, and an increasing number of business synergies with pharmaceutical companies. Sensors and their connectivity are becoming essential elements in the area of drug delivery. With an increase in the trend of personal disease management, connected devices are likely to be used more frequently. Moreover, the acceptance of connected devices grew rapidly with the adoption of e-healthcare and patient monitoring during the COVID-19 pandemic. However, a lack of awareness regarding advanced dermatology drug delivery devices is anticipated to hamper the market growth. Nevertheless, the major players in the market are integrating their solutions by offering connectivity features through apps. The growing focus on patient convenience drives such technological advancements in the case of drug delivery.
Among the regions, North America accounted for the largest share in the global advanced dermatology drug delivery devices market. Advanced technological and healthcare infrastructure along with higher adoption of modern medical technologies is supporting the dominance of North America in the global advanced dermatology drug delivery devices market. Moreover, the region is home to many leading players in the global advanced dermatology drug delivery devices market. On the other hand, Europe held a considerable share in the global advanced dermatology drug delivery devices market. The growing popularity of connected devices among European healthcare professionals and patients is driving market growth in the region. Furthermore, the increasing adoption of personalized healthcare in the region is likely to boost the growth of the market in Europe.
The report on the global advanced dermatology drug delivery devices market covers segments such as product type, end-market, and end-users. On the basis of product type, the sub-markets include injectors, patches, airless dispensers, and bottles. On the basis of end-market, the sub-markets include B2B sales, and B2C sales. On the basis of end-users, the sub-markets include hospitals, and dermatology practices.
The report provides profiles of the companies in the market such as Recipharm AB, LTS Lohmann Therapie-Systeme AG, Medicsensors S.L, Vaxxas Inc, The Sumaira Foundation, AptarGroup, Inc., Nemera Development S.A., Elcam Drug Delivery Devices, CosMED Pharmaceutical Co.Ltd., and Midas Pharma GmbH.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the advanced dermatology drug delivery devices market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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