Global Targeted Drug Delivery Market 2025 – 2034

Reports Description

As per the Targeted Drug Delivery Market conducted by the CMI Team, the global Targeted Drug Delivery Market is expected to record a CAGR of 15.5% from 2025 to 2034. In 2025, the market size is projected to reach a valuation of USD 11.4 Billion. By 2034, the valuation is anticipated to reach USD 39.6 Billion.

Overview

The Targeted Drug Delivery Market is witnessing rapid growth due to the rising incidence of cancer, a growing biologics pipeline, and developments in nanotechnology and ADCs, as well as lipid-based delivery systems. These technologies deliver therapeutics with precision, and hence, better efficacy and reduced systemic side effects. Oncology is the largest application area, followed by neurological and cardiovascular disorders. First, North America leads the market due to high investment in R&D, rapid adoption of advanced therapies, good healthcare infrastructure, and a heavy concentration of top biopharmaceutical companies.

Next comes Europe, due to favorable regulatory conditions and active clinical research. Last, but not least, Asia-Pacific leads in terms of fastest growth, driven by increasing access to healthcare, government funding, and growing prevalence of chronic diseases. Strategic collaborations between biotech companies and pharmaceutical companies, and algorithms and AI-enhanced delivery optimization abilities have further strong opportunities in the market. Further growth will be accelerated in the next decade due to continuous innovation in gene therapy delivery platforms and personalized medicine.

Key Trends & Drivers                                                                                                  

The Targeted Drug Delivery Market Trends present significant growth opportunities due to several factors:

• Rising Cancer Prevalence and Chronic Disease Burden: The targeting drug delivery technologies are mainly powered by the growing worldwide incidence of cancer, cardiovascular disorders, and neurological diseases. Per WHO’s estimation, cancer cases will rise dramatically by 2040, thus creating an urgent need for precise and effective treatment. By using targeted systems such as ADCs and nanocarriers, higher drug concentrations can be achieved at the diseased site, minimizing side effects and improving patient outcomes. Beyond oncology, targeted delivery is also gaining important consideration in other long-term illnesses such as Alzheimer’s, multiple sclerosis, and heart disease. The increasing patient pool for these chronic illnesses will ensure that there is a supply of advanced, site-specific drug delivery interventions in the coming years.

• Advancements in Nanotechnology and Delivery Platforms: Technological advancements in nanocarriers, lipid nanoparticles (LNPs), polymeric systems, and ligand-based coupling have rendered drug delivery more efficient. Nanotechnologists craft nanoparticles to go around biological obstacles, to carry drugs straight to cell targets, or to release drug payloads in a controlled manner. Lipid-based delivery systems, the foremost example being LNPs, have been best suited for mRNA- and RNAi-based therapies, greatly expediting product development pipelines. With advances in material sciences, coupled with improved nanoparticle stability and biocompatibility, newer nanoscale carriers have come into existence to deliver complex molecules such as peptides, proteins, and nucleic acids. These changes help the precision of therapy, open up avenues for alternative modes of treatment, and finally give biopharmaceutical companies the opportunity to use drug delivery platforms as a common platform for combination therapeutics, thus fostering targeted delivery across various therapeutic areas.

• Expanding Biologics and Gene Therapy Markets: The increasing number of newly launched biologics, such as monoclonal antibodies, recombinant proteins, and gene therapies, is fueling the demand for targeted drug delivery systems. A large number of biologics are unstable and require special delivery mechanisms to ferry them to target tissues without being degraded. Gene therapies, CRISPR-Cas9 platforms, and RNA-based drugs need delivery tech like viral vectors, nanoparticles, or LNPs for the therapeutic payload to work effectively and be safely administered. There is a steady rise in the regulatory approvals of therapies based on the basis of viral vector technology in oncology and rare diseases. As personalized medicine grows, the need for delivery systems catering to individual patient profiles shall continue to fuel innovation and market growth in the coming decade.

• Strategic Collaborations and Investment in R&D: Up-scaling the investment in research about targeted drug delivery is being seen from larger pharma and biotech companies, many times under strategic alliances with technology developers, academic institutions, and even CROs. Such collaborations hasten innovation by pooling knowledge of drug development, delivery system design, and clinical testing. Public–private collaborations and government funding systems, reiterated by venture capital support, are the key ingredients that nurture such schemes so they can further mature from their experimental systems into commercialized technologies. Also, computer science is being integrated into drug design and applied research within a system of engineering approaches to optimize delivery systems: such resourcefulness is needed to gainfully translate the technologies between the engineering and clinical worlds across many different borders.

Significant Threats

The Targeted Drug Delivery Market has several major threats that may hinder growth and profitability now and in the future, including:

• High Development Costs and Regulatory Barriers: Targeted drug delivery technologies, especially ADCs, nanocarriers, and gene therapy platforms, present high demands of manufacturing, specialized equipment, and quality control requirements. All of these costs serve to increase R&D and production expenditures. On the other hand, regulatory agencies like the FDA and EMA impose restrictions on clinical trials and safety requirements that may lead to serious delays before commercialization. Smaller companies find it very challenging to obtain financing, while the larger players risk delays in the launch of products. Consequently, the price-to-market ratio being high tends to discourage investment in early-stage innovations, and this in turn may slow the pace of innovation and reduce the number of feasible targeted therapies down the road, especially in emerging markets whose healthcare budgets themselves are limited.

• Vulnerabilities of Supply Chain: The targeted drug delivery sector heavily depends on highly specialized raw materials, intermediates, active pharmaceutical ingredients (APIs), and advanced excipients-often global. A disruption from any geopolitical tension, tariff implementation, or global pandemic could hinder manufacturing continuity. Having dependence, for example, on LNP components and ADC linkers from certain suppliers inherently increases the risk of shortages. Any such extended supply disruption could lead to delays in clinical trials, a stoppage in production, and cost escalation. The risks are accentuated by temperature-sensitive storage requirements for biologicals. In the absence of a sufficiently diversified sourcing strategy and the ability to have localized production, companies continue to remain vulnerable to these kinds of logistical bottlenecks, which can rob a therapeutic area with high demand of the dexterity of drug availability and market uptake.

Opportunities

• Expansion in Gene and RNA Therapies: The growing adoption of gene therapies, CRISPR-Cas9 gene editing, and RNA-based drugs offers a significant opportunity in the sphere of targeted delivery systems. These therapies require very specific carriers—each with a claim: lipid nanoparticles, viral vectors, or polymeric systems—to maintain the integrity of the therapeutic molecules as they reach the affected cells or tissues. Expanding regulatory approvals for rare diseases and oncology increases investment in delivery systems tailored to nucleic-acid payloads. As more genetic therapies enter late-stage trials, the demand for specialized delivery technologies will soar. The companies that can design systems that can be both scaled up and safe and efficacious will enter and dominate one of the fastest-growing therapeutic spaces.

• AI and Data-Driven Optimization: The coupling of AI and ML in the field of drug delivery R&D is what fuels a different growth perspective. AI implementations can be selected to profile molecular interactions, predict the best drug–carrier combinations, and simulate in vivo distribution patterns that account for time, temperature, and other conditions that may affect the experiment. This measurement offers a faster formulation design, greater precision of targeting, and a contained route of development. Resulting from that, those data can stratify patients for delivery solutions based on real treatments for oncology, neurology, and rare diseases. Predictions obtained using an AI system can also optimize supply chain planning and stability for temperature-sensitive biologics. Companies that fully embrace embedding AI into discovery and clinical workflows will be able to enter markets much sooner, reduce costs, and make their therapeutics available to the world.

Category Wise Insights

By Technique

• Nanoparticle-Based Drug Delivery: Nanoparticles such as liposomes, micelles, and polymeric carriers facilitate the solubilization, stability, and targeted biodistribution of therapeutics. Their ability to cross biological barriers works to their advantage in the treatment of oncology and CNS disorders. Continuous improvements in surface functionalization allow specific targeting through receptors, minimizing side effects caused by wrong targets. The regulatory atmosphere for these systems is getting warmer in that multiple cancer drug formulations based on nanotechnology have emerged into the market, thus providing greater impetus for the engineering of the next generation of particles for personalized therapeutics.

• Ligand-Based Targeting Systems: The basis of ligand systems is targeting moieties, such as antibodies or peptides, or even aptamers, which bind to specific cell receptors. Preferential absorption therapy is done while sparing healthy tissues. The application of cancer treatment and treatment of autoimmune diseases allows for high precision and the efficacy of therapeutics. Growth in these systems is based on developments in biomarker identification and companion diagnostics, which enable better patient stratification and thus support the incorporation of ligand-targeting into biologics, as well as gene therapy formulation.

• Polymeric Carriers: Both biodegradable and non-biodegradable polymeric drug delivery systems provide mechanisms for controlled release and site-specific delivery. Polymers such as PLGA and PEG are favored materials because of their biocompatibility as well as their ability to be formulated for specific degradation profiles. They are primarily suitable for the sustained release needed in the treatment of chronic diseases, ophthalmology, and implantation. Innovations these days are geared towards developing responsive polymers that evolve drug release in response to external triggers such as pH or temperature, thereby extending therapeutic applications in the field of oncology and local therapies.

• Antibody–Drug Conjugates (ADCs): The ADCs are slowly becoming a conventional treatment for malignancies where a monoclonal antibody is linked to a cytotoxic agent to be specifically toxic to tumor cells, causing minimal toxicity to the general organism. These agents are essentially “smart bombs,” withdrawing their precision from antibody recognition of tumor-associated antigens to deliver a highly potent drug into cancer cells. This field is a fast-growing segment, with several approvals in breast, lung, and hematologic cancers. Collaborations between biotech and pharma companies provide impetus to the development of diversified pipelines, along with improvements in linker chemistry and payloads aimed at increasing safety and efficacy.

• Lipid-Based Delivery Systems: Lipid-based delivery systems, such as lipid nanoparticles (LNPs) and liposomes, have come into prominence for mRNA, siRNA, and hydrophobic drug delivery. Because they are biocompatible and can encapsulate various therapeutic agents, they are ideal platforms for genetic medicines and vaccines. The rapid rollout of COVID-19 mRNA vaccines demonstrated the capability for the scale-up and the efficacy of LNP platforms; therefore, further developments are inclined toward more applications in oncology, rare diseases, and protein replacement therapies. The targets of the study include improvements in stability and organ-specific targeting towards clinical adaptation.

By Application

• Oncology: The oncology segment continues to dominate the targeted drug delivery market, caused by the need for specific treatments with minimal or no side effects on normal cells. ADCs, nanocarriers, and ligand-targeted systems are technologies that are used widely to improve cancer therapy outcomes. Growth is sustained by increasing cancer incidences worldwide and a strong clinical pipeline for targeted therapeutics. Regulatory approvals and biomarker-guided therapies add to the adoption, firmly positioning oncology to be the largest segment revenue-wise.

• Cardiovascular Diseases: Targeted drug delivery in cardiovascular ailments aims at treating atherosclerosis, thrombosis, and myocardial infarction. Anti-inflammatory or regenerative agents are delivered to a target site using nanometeric drug-eluting stents, nanoparticles, and gene therapy vectors. Growth is supported by the increasing prevalence of cardiovascular disorders and advancements in catheter-based delivery systems. Clinical emphasis is increasingly being focused on minimally invasive techniques with localized intervention for improved recovery of patients and reduced systemic side effects.

• Neurological Disorders: From addressing those systems that get rid of the blood–brain barrier to maybe transporting drugs in the event of Alzheimer’s, Parkinson’s, or brain tumors, neurological applications aim to serve. Nanocarriers, ligand targeting systems, and intranasal delivery platforms are purported to cater to brain-specific delivery of drugs. Increase in neurodegenerative diseases and unmet clinical needs fuels investment in R&D. The segment capitalizes greatly on advances made in biomarker discovery, whereby targeted therapeutics would be delivered even before interventions to enhance quality of life and functional outcomes.

• Infectious Diseases: In infectious diseases, targeted drug delivery enhances the antiviral, antibiotic, and vaccine action by site-specific action and modification of resistance development. Applications of liposomes and ligand-modified carriers are more frequent in RNA vaccines and for the delivery of antimicrobials. The demand heightened during the COVID-19 pandemic, adding emphasis to the emergence of fast and scalable delivery platforms. Further emphasis on emerging pathogens and antimicrobial stewardship will thus innovate approaches to targeted delivery for the management of infectious diseases.

• Others: Targeted delivery applications in what is covered here are for metabolic disorders, ophthalmic diseases, inflammatory conditions, and some orphan genetic diseases. For example, sustained-release ocular implants may be implanted within the eyes, enzymes may be delivered directly to target cells, and anti-inflammatory agents may be directed to specific organs. Growth is fostered by personalized medicine trends and orphan drug designations for rare diseases. Beyond oncology and neurology, targeted drug delivery has grown complementary to such expansion, showing that these technologies can be adapted within a list of therapeutic areas.

By End User

• Hospitals & Clinics: Hospitals and clinics act as primary settings for administering targeted drug delivery therapies in oncology, cardiology, and infectious diseases. Owing to their distinctive role in integrating therapies among complex treatment regimens, access to specialized equipment, and patient monitoring capacities, hospitals are facilities that very early on adopt targeted therapies. Enhanced by targeted therapeutics becoming more readily available in the hospital settings, along with a well-trained workforce, patient outcomes and accessibility to treatment are enhanced.

• Specialty & Cancer Treatment Centers: Precision oncology and advanced disease management are some of the concrete specialties of these centers, so they are sizeable targeted therapy administration hubs. Equipped with infrastructure for both diagnostics and delivery, they are optimized to maximize therapeutic application. They are engaged in clinical trials and patient selection based on biomarkers, which gives early impetus to the adoption of new targeted drug delivery technologies and thus marks them as important stakeholders in market creation.

• Research & Academic Institutes: They are important centers for research and education in the development and validation of new targeted delivery systems. These research institutions conduct preclinical research, biomarker studies, and translational trials, often in partnership with industrial agents. In their attempt to stimulate innovation in this segment, government funding, school grants, and public-private partnerships have been deployed. These institutes, therefore, play a major role in the careers of delivery platforms, going from ideas at the lab scale to clinical-grade products ready for commercialization.

• Biopharmaceutical & Biotechnology Companies: This set of drug delivery companies is mainly involved in the development and commercialization of targeted drug delivery technologies. In other words, they spend a lot of money on R&D, regulatory approval, and market expansion strategies. Most of them engage in strategic partnerships to obtain access to new delivery platforms, diversify their therapeutic pipelines, and thus fast-track the time-to-market. The ability to scale production and intellectual property rights acquisition constitutes core competencies, enabling them to remain competitive in a fast-moving market such as targeted drug delivery.

Impact of Recent Tariff Policies

The targeted drug delivery market is assessed to be impacted by costs imposed on imported pharmaceutical ingredients and technologies, especially due to recent tariffs. Some of the proposed tariff measures include up to 245% on APIs from China and 25–50% on imports from India, the EU, Canada, and Mexico. Such supply chains are essential for antibody–drug conjugates and lipid nanoparticle systems, among others, in advanced delivery platforms. The increase in import tariffs is bound to raise production costs, which in turn could translate to drug prices going up and products taking longer to reach the market. In addition, these policies cast a shadow of uncertainty on sourcing decisions, leading companies to expedite efforts to onshore and diversify their supplier base to avoid over-reliance on any one region. Although this policy intends to bring manufacturing back into the country, it may instead cripple the supply chain for specialized components for a time and thus affect commercial manufacturing activities and R&D pipelines of targeted therapies in oncology and rare diseases.

Report Scope

Regional Analysis

The Targeted Drug Delivery (NOACs) Market is segmented by key regions and includes detailed analysis across major countries. Below is a brief overview of the market dynamics in each country:

North America: North America Targeted Drug Delivery markets is dominated by the region due to its advanced healthcare infrastructure, high R&D expenditures, and an ample number of local leading biopharmaceutical companies and their research counterparts. Although the region innovates in picturing novel therapeutics and has reimbursements already in place for them, there has been huge clinical trial activity in this regard. Growth is sustained by the rapid pace of advancement in oncology-targeted therapies and increased approvals for ADCs, nanocarriers, and lipid-based systems. Partnerships amongst industry, academia, and regulatory bodies foster further innovation, helping to make North America the prime market for the targeted drug delivery market.

• United States: The U.S. holds the position as the largest global market, supported by massive investment in biopharma innovation, early regulatory approvals, and a higher prevalence of cancer and chronic diseases. Targeted delivery development is enhanced by a robust clinical research infrastructure and strategic partnerships between pharma companies and technology providers. However, increasing usage of targeted delivery systems in oncology applications, plus other neurology and rare diseases, through workshops became critical drivers for their growth.

• Canada: The fertile grounds for the Canada targeted drug delivery market can be blamed on the rise in cancer incidents in the country, the amendment of the healthcare policies in favor of the government, and the investment in the field of precision medicine. Clinical collaborations and developing channel delivery systems for therapies stand strong based on adoption. The promotion of biologics and biosimilars and subsequent access to public health funding support a steady adoption of technologies for targeted drug delivery.

Europe: Europe is another significant market in the second position and benefits from an advanced drug development capability, a strong network of oncology research hubs, and the development of personalized medicine adoption. The harmonized regulations of the European Medicines Agency (EMA) contribute toward helping market entry. Also, other growth drivers comprise government funding for precision medicine projects and intramural collaborative work of academic research institutes with industry. Targeted drug delivery platform markets are in demand in various therapeutic areas due to the rising incidence of cancer and neurological disorder cases and due to the region’s orientation toward early-stage innovations.

• Germany: It holds a market leadership in having the highest adoption of targeted drug delivery throughout Europe because of the strong pharmaceutical manufacturing systems at the core of its clinical research infrastructure. The German targeted drug delivery market has higher potential due to the incidence of cancer and greater funding availability for biotech innovations. Coordinated partnerships between academia and industries provide an extremely capable pipeline for delivery technologies, particularly for oncology and CNS applications.

• UK.: The UK targeted drug delivery market benefits from strong life sciences ecosystems, early-access programs, and government-backed research initiatives. The roles of Cancer Research UK and the NHS are critical in embedding targeted therapies in care pathways. The focus of the country on biomarker-driven treatment strategies and fast-tracked clinical trials provides a supporting ground for advanced delivery systems in oncology and rare diseases.

• France: The France targeted drug delivery market growth can be attributed to a developed healthcare system, excellence in oncology research, and reimbursement systems. The country funds translational medicine projects and grants special attention to creating environments conducive to collaborations between biotech companies and public research institutions. With very high participation in global clinical trials, French patients enjoy early access to the most recent delivery technologies in the treatment of cancers and chronic diseases.

Asia Pacific: With increasing healthcare expenditure, rising incidence of cases of cancer, and faster adoption of advanced therapeutics, Asia-Pacific seems to be the fastest-growing region. Countries like Australia, South Korea, and Japan have poured money into biopharmaceutical R&D, including precision oncology and genetic medicine. An increased level of healthcare facility access, combined with growth in biotech capabilities domestically, supports Asia-Pacific targeted drug delivery market penetration. Meanwhile, regional players are teaming up globally to launch their innovative targeted drug delivery systems faster to meet big unmet medical needs.

• Japan: With superior pharmaceutical manufacturing, oncology research, and regulatory procedures, Japan is the pioneer of Asia in the adoption of targeted drug delivery. The country is endowed with investments in nanomedicine and ADC development for precision oncology. Global pharma collaborating with Japanese companies ensures innovative delivery systems will enter early into markets for cancer and rare diseases.

• South Korea: South Korea’s targeted drug delivery market is growing owing to huge government funding for biopharmaceutical R&D and a solid hospital infrastructure. The country swiftly advanced in ADC development, nanocarrier research, and lipid nanoparticles-based delivery. Local biotech startups are increasingly engaging multinational companies in the exchange of their innovations, which are majorly focused on oncology, immunotherapy, and cell and gene therapy.

• Australia: A high cancer incidence, a strong clinical trial ecosystem, and government-subsidized healthcare systems tend to drive the Australian targeted drug delivery market. The country is actively engaged in international oncology trials and early access programs for targeted therapies. Research institutes and biotech companies join forces in bringing advanced delivery systems to market, primarily in nanomedicine and ligand-targeted platforms.

LAMEA: Targeted drug delivery rates display growth in the LAMEA markets, but the growth rate is slower than that in developed markets. Adoption is led by major urban centers, given the better healthcare infrastructure and availability for specialty treatments. Precision oncology is chiefly practiced at the Latin American level in Brazil, with the Gulf countries of the Middle East investing heavily. Government initiatives, private healthcare expansion, and clinical trials are improving access to advanced delivery platforms, particularly in oncology and infectious disease management.

• Brazil: In Latin America, the aforementioned drug delivery system enjoys a bigger presence in Brazil. The drug delivery in the cities applies to hospitals and research centers in oncology and infectious disease therapies. A few partnerships between governments and the private sector help with greater access to innovation, notwithstanding infrastructural shortcomings across the regions.

• Saudi Arabia: Being the first country to initiate targeted drug delivery platforms in the Middle East, it is being promoted under the healthcare reform in line with Vision 2030. Investments in oncology and scientific research collaborations, as well as bio-pharmaceutical manufacturing, are propelling the market growth further. This is also increased by the government’s approach toward precision medicines and early detection programs that require advanced delivery platforms, especially for treatment in cancer and rare diseases.

Key Developments

The Targeted Drug Delivery Market has undergone several important developments over the last couple of years as participants in the industry look to expand their geographic footprint and enhance their product offering and profitability by leveraging synergies.

• In January 2025, Roche entered an exclusive global licensing agreement with Innovent for IBI3009, a novel DLL3-targeted antibody–drug conjugate, to expand its oncology ADC portfolio and development pipeline.

• In April 2025, Daiichi Sankyo and AstraZeneca received FDA Breakthrough Device designation for a companion diagnostic assay for datopotamab deruxtecan, improving patient selection in non-small cell lung cancer treatment.

• In January 2025, Roche signed a licensing pact with Innovent in China worth up to USD 1 billion to access advanced ADC technologies for oncology applications.

• In January 2025, Daiichi Sankyo and AstraZeneca achieved a key regulatory milestone for ENHERTU, a HER2-targeted ADC, gaining expanded approval for HER2-positive cancer treatment.

• In May 2025, Moderna received FDA approval for mRNA-1283 (mNEXSPIKE), a next-generation COVID-19 vaccine using lipid nanoparticle delivery with improved stability for broader distribution.

These activities have allowed the companies to further develop their product portfolios and sharpen their competitive edge to capitalize on the available growth opportunities in the Targeted Drug Delivery Market.

Leading Players

The Targeted Drug Delivery Market is moderately consolidated, dominated by large-scale players with infrastructure and government support. Some of the key players in the market include:

• Bristol-Myers Squibb
• Pfizer Inc.
• Boehringer Ingelheim
• Bayer AG
• Daiichi Sankyo
• Sanofi S.A.
• Johnson & Johnson
• GlaxoSmithKline plc
• Aspen Holdings
• AstraZeneca plc
• Eisai Co. Ltd
• CSL Behring
• Armatheon
• Cosmo Pharmaceuticals
• Cellceutix
• Marathon Pharmaceuticals
• Ockham Biotech
• Perosphere
• Portola Pharmaceuticals
• Reddy’s Laboratories
• Others

The Targeted Drug Delivery market is moderately consolidated, with competition mostly emanating from innovation, clinching success, or strategic collaborations. Concerning a few leaders in the field, including Roche, AstraZeneca, Daiichi Sankyo, Moderna, Seagen, and Novartis, with oncology being among the most profitable applications. The intrinsic nature of the market is one of strong innovation, with long R&D cycles, high capital investment, and considerable regulatory requirements. Partnerships between pharmaceutical firms, biotech corporations, and research institutions are crucial to the advancement of technologies, particularly with respect to ADCs, lipid nanoparticle systems, and ligand-based carriers.

Competitive advantages stem from proprietary delivery technologies, strong clinical pipelines, and global commercialization capabilities. The emerging biotech firms usually tackle niche applications and new delivery platforms, whereas established players have favored growth through acquisitions and licensing deals. Another critical trend in the market is personalization partnered with the merger of AI in design and targeting; in turn, this engenders opportunities as well as intensifies pressure on intellectual property and swift regulatory approvals.

The Targeted Drug Delivery Market is segmented as follows:

By Technology

• Nanoparticle-Based Drug Delivery
• Ligand-Based Targeting Systems
• Polymeric Carriers
• Antibody–Drug Conjugates (ADCs)
• Lipid-Based Delivery Systems

By Application

• Oncology
• Cardiovascular Diseases
• Neurological Disorders
• Infectious Diseases
• Others

By End User

• Hospitals & Clinics
• Specialty & Cancer Treatment Centers
• Research & Academic Institutes
• Biopharmaceutical & Biotechnology Companies

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America