Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 483.9 Billion | USD 815.6 Billion | 7.33% | 2022 |
FrequentlyAsked Questions
Drugs are the first-line treatment for nearly any minor or significant disease. The definition of drugs derives from the word drug delivery systems, which can be used to be a mechanism or a formulation that is used to introduce a medicinal agent into the body. This system or formulation helps to improve the potency of the medication within the body. A typical example can be a nasal spray, majorly used by people with nasal congestion. On the other hand, gene delivery mechanisms include the introduction of foreign genetic materials, DNA or RNA, into the host cell. In order for gene transmission to be successful, these foreign genetic materials should remain stable in the host cell, be incorporated into the genome, or be duplicated independently.
The global drug & gene delivery systems market is predicted to increase at a CAGR of 7.33% during the forecast period.
The global drug & gene delivery systems market was worth around USD 483.9 billion in 2022 and is expected to reach USD 815.6 billion by 2030.
The global drug & gene delivery systems market is being driven by several factors, including the increasing prevalence of chronic diseases, advancements in nanotechnology, and the growing demand for non-invasive drug delivery methods. Other drivers include the rise in biologics development and the increasing focus on personalized medicine.
North America held a notable share in the global drug & gene delivery systems market in 2022 and is likely to grow the fastest during the forecast period. The growth of the drug & gene delivery systems market in North America is being driven by factors such as development, a growing geriatric population, and favorable government policies supporting drug development. Additionally, the region has a strong presence of key market players, driving innovation and growth.
Some of the major companies operating in the drug & gene delivery systems market include Pfizer, Johnson & Johnson, Novartis, Roche, Merck & Co., Sanofi, GlaxoSmithKline, AbbVie, AstraZeneca, Bayer, Bristol-Myers Squibb, Celgene, Amgen, Biogen, Gilead Sciences, Illumina, Regeneron Pharmaceuticals, Vertex Pharmaceuticals, Moderna, and CRISPR Therapeutics.
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