The size of the Middle East and Africa market for Drug Delivery Technology is expected to reach USD 167.04 Million by 2027 from USD 114.74 Million in 2022, hiking at a CGAR of 7.832% during the forecast period.
The market for drug delivery devices in the MEA region is majorly driven by the growing prevalence of chronic disease and the rising acceptance of self-administering drugs. Also, the Growing geriatric population is more prone to various diseases; therefore, the geriatric population across the region is influencing the market growth. The overall market is anticipated to increase due to the increasing use of advanced technology for efficiently delivering the medication to the target site. Moreover, the rapid surge in chronic diseases such as cancer, respiratory diseases, cardiovascular diseases, and contagious diseases across the region is augmenting the market growth. The properties of nanoparticles have been studied and used to enhance drug delivery systems, making the process of medication distribution more efficient and time-saving.
Additionally, by optimizing the medication present at the target location, these drug delivery systems minimize the reduction of side effects, lowering the dosage and related adverse effects. Also, lowering the number of active pharmaceutical ingredients helps to lower the total product price.
Technological advances in drug delivery devices are now being studied to make them more patient-friendly, accessible, and accurate. As a result, players are constantly inventing improved drug delivery systems and researching new technologies. Furthermore, advances in polymer science are aiding in the development of drug delivery devices. The development of such unique polymers will improve the precision with which drugs are delivered via devices. As a result, market growth is fuelled by technologically enhanced drug delivery devices throughout the forecast period.
On the other hand, an increasing number of clinical trials for the pandemic COVID-19 are escalating the drug delivery devices market. There are a large number of drugs and vaccines in various stages of clinical trials for treating COVID-19 that are expected to be launched in the future months or years under emergency management authorization guidelines. Furthermore, the COVID-19 pandemic is predicted to increase demand for medication delivery devices, particularly respiratory-based delivery systems. Oral and injectable drugs are utilized to treat COVID-19, although pulmonary or respiratory-based drug delivery systems are expected to have a minor increase.
However, the MEA drug delivery devices market growth is hampered by stringent government regulations connected with the introduction of novel drug delivery devices.
This research report on the MEA Drug Delivery Devices Market segmented and sub-segmented into the following categories:
By Route of administration:
By Facility of Use:
Geographically, Middle East Africa is projected to account for a moderate share during the forecast period. An increase in the number of cancers, respiratory diseases, and diabetic patients throughout the MEA is likely to encourage the use of drug delivery devices and boost the total market. Also, the Increasing awareness of the benefits of medication delivery devices in the region is also likely to promote market growth in the region. The presence of Developing economies such as UAE, South Africa, and Saudi Arabia are major contributors to the regional market growth. In the regional market, South Africa dominated the market with a significant market share. The surge in the incidence of chronic diseases such as diabetes and cancer are other primary factors contributing to the growth of this market in South Africa.
In addition, Saudi Arabia and UAE are most likely to account significant share during the forecast period. An increasing population with a prevalence of various chronic diseases is propelling the market growth. There has been a rising adoption and inclination towards improved medication delivery systems since they help deliver pharmaceuticals that are useful for the targeted population to recover faster.
KEY MARKET PLAYERS:
Companies playing a prominent role in the MEA Drug Delivery Devices Market profiled in the report are Bend Research, Endocyte, Microchips Inc., Pearl Therapeutics Inc., Presage Bioscience, UCB Group, Genentech Inc., Polymer Factory, Alkermes Inc., BIND Biosciences Inc., and QLT Inc.
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