Drug And Gene Delivery Devices Market in 2024: The Role of AI Technology In Advancing Treatment Solutions

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The global drug and gene delivery devices market has witnessed remarkable growth in recent years through healthcare infrastructure development, expansion of personalized gene therapy programs, increasing focus on preventive healthcare, rare and orphan diseases, and increasing public awareness about health and treatment options. It is projected to proliferate from $0.56 billion in 2023 to $0.61 billion in 2024, recording a compound annual growth rate CAGR of 8.7%.

What Is the Anticipated Growth Rate and Market Size of the Global Drug and Gene Delivery Devices Market?

In the coming years, strong growth is expected in the drug and gene delivery devices market as the size is predicted to reach $0.86 billion by 2028 with a compound annual growth rate CAGR of 8.8%. This forecasted growth can be accredited to the increasing prevalence of chronic diseases, a growing demand for personalized medicine, rising awareness and adoption of gene therapy, demand for non-invasive and minimally invasive procedures, and the increasing popularity of direct-to-patient delivery models.

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What Are the Strong Growth Drivers and Major Trends in the Drug and Gene Delivery Devices Market?

A primary growth driver in the market is the increasing adoption of gene therapy. This medical technique, consisting of the introduction, removal, or alteration of genetic material within a patient's cells, treats or prevents disease. The demand for gene therapy is mounting because of its potential to cure genetic disorders and chronic diseases fundamentally, offering transformative treatment options where traditional therapies may be inadequate. Similarly, drug and gene delivery devices play an essential role in gene therapy as they precisely target and control the release of therapeutic genes, therefore improving the treatment's efficacy.

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Who Are the Major Players in the Drug and Gene Delivery Devices Market?

Key companies operating in the drug and gene delivery devices market include Merck & Co. Inc., AbbVie Inc., Bayer AG, AstraZeneca plc, Medtronic plc, Amgen Inc., Moderna Inc., Biogen Inc., Sarepta Therapeutics Inc., SCIEX, Halozyme Therapeutics Inc., ViiV Healthcare Limited, Uniqure NV, Cytokinetics Inc., Prothena Corporation plc, Intellia Therapeutics Inc., Voyager Therapeutics Inc., sfm medical devices GmbH, Inovio Pharmaceuticals Inc., GenSight Biologics S.A., and CRISPR Therapeutics.

What Are the Prominent Trends in the Drug and Gene Delivery Devices Market?

Significantly, major players in the market are focusing on developing advanced products, such as artificial intelligence AI technology. This technology in drug delivery improves the efficiency, precision, and effectiveness of drug delivery systems. For example, in December 2023, Envoya Inc., a US-based developer of polymer-based nanoparticles for targeted delivery, launched an innovative gene therapy drug delivery platform. This platform combines biopolymer-nanoparticles with artificial intelligence AI to offset significant limitations in current gene therapy technologies.

How Does the Market Segment?

The drug and gene delivery devices market encompasses the following segments:

1 By Vector: Viral, Non-viral
2 By Method: In Situ, Ex Vivo
3 By Route Of Administration: Oral, Inhalation, Transdermal, Injectable, Ocular, Nasal, Topical

What Are the Regional Insights into the Drug and Gene Delivery Devices Market?

Geographically, North America was the largest region in the drug and gene delivery devices market in 2023. The report covers regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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