The global “Drug Delivery Systems” Market is projected to reach USD 45.20 billion by 2027, exhibiting a CAGR of 6.8% during the forecast period. Increasing prevalence of multiple chronic conditions (MCCs) worldwide is expected to be the leading factor driving the growth of this market, finds Fortune Business Insights™ in its report, titled “Drug Delivery Systems Market Size, Share Industry Analysis, By Type (Inhalation, Transdermal, Injectables and Others), By Device Type (Conventional and Advanced), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others) and Regional Forecast, 2020-2027”. MCCs refer to the existence of more than one chronic condition in an individual. According to a study published by the World Economic Forum (WEF), 33% of adults around the world suffer from a combination of MCCs such as cardiovascular disease with diabetes and depression or even cancer. Precision Drug Delivery Systems can play a crucial role in managing these conditions as they are able to administer drugs at the exact location of the disease. As incidence of chronic conditions rises, the demand for these systems is likely to spike in the coming years.

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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.

Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.

What does the Report Include?

The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.

An Overview of the Impact of COVID-19 on this Market :

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.

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Regional Analysis

North America to Hold Dominant Lead in the Market; Europe to Follow Closely

Among regions, North America is expected to dominate this market share during the forecast period owing to the active adoption of advanced drug delivery systems, especially for care of the elderly populace. Besides this, increased funding for medical RD activities is also feeding the growth of this market. In 2019, the market size in the region was at USD 10.65 billion.

In Europe, the top growth driver is the rising prevalence of chronic diseases, coupled with the presence of large pharmaceutical companies, especially in Ireland, UK, Germany, and France. The market in Asia-Pacific is expected to be fueled by the expanding patient pool in India and China and the spreading awareness of the advantages of Drug Delivery Systems in the region.

As per the report findings, the market value was at USD 26.08 billion in 2019. The report also offers the following information:

• Comprehensive analysis of the impact of COVID-19 outbreak on the market;
• Detailed assessment of the market trends, drivers, and restraints;
• In-depth examination of the regional dynamics and competitive environment shaping the market; and
• Careful study of all the possible market segments.

Market Opportunity

Coronavirus Pandemic to Create Multiple Opportunities in the Market

The drug delivery systems market growth is set to enter an animated period on account of the exponential spread of the COVID-19 infection. With the absence of a vaccine, healthcare professionals have been forced to rely on curative measures to alleviate the suffering of COVID-19 patients. In such dire circumstances, there is growing reliance on efficient drug delivery mechanisms to provide quick treatment for the disease. Moreover, the situation has generated several innovation opportunities for companies. For instance, in May 2020, UK-based Senzer Pharmaceuticals announced that it was working on creating inhalable targeted antivirals for COVID-19. Similar efforts are being made at the University of Texas at Austin where an innovative inhaled formulation of niclosamide is being developed to treat COVID-19 symptoms. Thus, the outbreak of the coronavirus pandemic has renewed the interest in drug delivery research and innovation.

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