Upgradation in biopharmaceutical and biosimilar market increases the demand for autoimmune disorders drug delivery devices for treatment of autoimmune diseases that expected to drive the global autoimmune disorders drug delivery devices market The Global Autoimmune Disorders Drug Delivery Devices Market was valued at 2.7 Bn in 2020 and is expected to reach USD 7.3 Bn by 2027, growing at a CAGR of 15.0% during the forecast period.
Increasing expenditure in the medical healthcare devices sector and increasing investment in the research and development by the key players are the major propelling factor for the growth of the global market. Moreover, development in bio-pharmaceutical and bio-similar industries and technological advancement for the improvement of autoimmune disorders drug delivery devices such as injectors, syringes, vials are the boosting factors for the growth of the global market. Therefore, the demand for autoimmune disorders drug delivery devices increases due to rising awareness among the population that drives the growth of the global market.
Moreover, rising prevalence of autoimmune disorders due to increasing geriatric population are the fueling factor for the growth of the targeted market. For instance, in 2017, according to the National Institutes of Health (NIH), up to 23.5 million Americans (more than seven percent of the population) suffer from an autoimmune disease and this ratio is increasing day by day.
However, the alternative such as oral formulations for the autoimmune disorders which is the major restraining factor for the growth of the global autoimmune disorders drug delivery devices market. Further, the strict government laws and regulation for approval of drug delivery device which is hampering factor for the growth of the autoimmune disorders drug delivery devices market.
Autoimmune disorders drug delivery devices can be customized according to patients need that create a lucrative opportunity for the growth of the global autoimmune disorders drug delivery devices market. However, complications associate with the devices recall for which is the major challenge for the growth of the global market.
By Region
In terms of geography, the North America region accounted for the major share of the global autoimmune disorders drug delivery devices market. This is owing to the presence of necessary infrastructure. Moreover, high funding available for research and development activities is another factor supporting North America market. The presence of major key players in this region is fuelling factor for the growth of the targeted market in the North America Region. Moreover, the rising prevalence of autoimmune that gives rise to the demand for autoimmune disorders drug delivery devices in the North America region.
The Global Autoimmune Disorders Drug Delivery Devices Market Segmentation:
Global Autoimmune Disorders Drug Delivery Devices Market, by Product Outlook (Revenue, USD Billion, 2021-2027)
Global Autoimmune Disorders Drug Delivery Devices Market, by Indications Outlook (Revenue, USD Billion, 2021-2027)
Global Autoimmune Disorders Drug Delivery Devices Market, by End-Users Outlook (Revenue, USD Billion, 2021-2027)
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