USD 255.69 Billion
Drug Delivery Devices Market Size, Share, Growth Analysis, By Route of Administration (Oral, Injectable), By Application (Oncology, Infectious Diseases), By End-use (Hospitals, Diagnostic Centers), By Region -Industry Forecast 2024-2031.
Report ID:
SQMIG35A2918 |
Region:
Global |
Published Date: October, 2024
Pages:
212
|Tables:
97
|Figures:
70
Drug Delivery Devices Market Insights
Global Drug Delivery Devices Market size was valued at USD 262.30 billion in 2022 and is poised to grow from USD 277.78 billion in 2023 to USD 439.40 billion by 2031, growing at a CAGR of 5.90% during the forecast period (2024-2031).
In recent times, the demand for drug delivery devices is rapidly increasing due to growing adoption of advanced technology for effectively delivering drugs on the target site is expected to drive the overall market growth. Moreover, usage of these drug delivery devices reduces the chances of side effects by optimizing the delivery of drugs at target site. This helps in minimizing the dose and associated side effects. It also helps in reducing the overall product price by decreasing the amount of active pharmaceutical ingredients. Increasing demand for novel drug delivery devices is expected to boost the R&D in the field. Constant studies in the healthcare industry include technological advancements in drug delivery devices to make them more patient-friendly, accessible, and accurate. Business players in the industry are continuously researching innovative technologies and developing advanced drug delivery devices. The rapid growth of the biopharmaceutical industry is resulting in the development of various new drugs that are effective in treatment of various diseases. The rising investments by the drug manufacturers in the clinical trials and the active role played by the various authorities like FDA and EMA is boosting the development of innovative new drugs.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Cardiovascular
Fastest Growth
Hospitals
Growth Rate
5.83%
Global Drug Delivery Devices Market ($ Bn)
Country Share for North America Region (%)
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Drug Delivery Devices Market Segmental Analysis
Global Drug Delivery Devices Market is segmented into Route of Administration, Application, End-use, and region. By Route of Administration, the market is classified into Oral, Inhalation, Transdermal, Injectable, Ocular, Nasal, Topical, Others. Depending on the Application, it is categorized into Oncology, Infectious Diseases, Respiratory Diseases, Diabetes, Cardiovascular Diseases, Autoimmune Diseases, Central Nervous System Disorders, Others. According to End-use, the market is divided into Hospitals, Diagnostic Centers, Ambulatory Surgery Centers/Clinics, Home Care Settings, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Route of Administration
Based on the route of administration, the oral drug delivery segment is dominating the drug delivery devices market with maximum share. The oral drug delivery system includes a wide range of dosage forms including tablets, capsules, syrups, solutions, and suspensions. This segment also includes distribution products such as films and tablets. The oral route is the preferred route of administration in terms of safety, ease of use, cost, and stability. Inhalation drug delivery systems are preferred in cases of pulmonary conditions such as asthma and chronic obstructive pulmonary disease (COPD). Factors like growing prevalence of respiratory diseases and technological advancement of devices used for inhalation such as nebulizers and inhalers are expected to propel the growth of this segment.
The injectable route of administration is witnessing the fastest growth in the drug delivery devices market. Advancements in injectable drug delivery systems, such as the introduction of prefilled syringes and pen injectors, have increased the demand in the past few years. In addition, development of materials for syringes such as polymers, which are inert toward most of the chemicals, is driving the market growth. Certain factors, such as the numerous benefits offered by smart injectable devices over the traditional injectable devices and an increasing prevalence of chronic conditions, namely, cancer, neural disorders, diabetes, and others are actively contributing to growth of the sub-segment. Moreover, entry of several drug manufacturers to develop smart injectable devices is projected to offer significant growth opportunities for the injectable devices sub-segment during the forecast period.
Analysis by End User
Based on end users, the hospital segment is dominating the medical foods market. This is due to increasing demand for advanced drug delivery technologies in healthcare settings, where patients require comprehensive and specialized care. Hospitals and clinics have the necessary infrastructure, trained healthcare professionals, and access to the latest medical technologies to effectively utilize and manage a wide range of drug delivery devices, from traditional oral formulations to complex parenteral and transdermal systems. Hospital pharmacies also play a major role as they are an integral unit of hospitals. Thus, an increase in patient visits to these medical centers will increase the distribution of drug delivery devices from hospital pharmacies. The rising number of hospitals in various countries is also expected to increase the distribution of these systems from hospital pharmacies.
Based on end-user, the home care segment is witnessing the fastest growth in the drug delivery devices market. The rising adoption of connected drug delivery devices is a key driver behind the growth of this segment. In addition, the need to provide better patient experience and the rising prevalence of asthma and COPD are also anticipated to surge the market growth. Moreover, home care is often more cost-effective than hospital care. The connected drug delivery devices let the patients receive treatment at home while contacting healthcare providers. This reduces the need for frequent hospital visits, positively driving market growth.
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Drug Delivery Devices Market Regional Insights
North America is dominating the drug delivery devices market with maximum market share. This can be attributed to the presence of major players in the region and growing adoption of drug supply devices. Moreover, increasing awareness in the region regarding the advantages of drug delivery devices is also expected to boost the market growth in the region. In addition, growing product approval in countries such as U.S. is also expected to contribute toward the market growth. Moreover, favorable reimbursement policies for specialty drugs and devices can increase the affordability of treatment. Significant R&D investments by device manufacturers towards innovative devices for injectable and inhaled drugs can drive the market growth
Asia Pacific is witnessing the fastest growing region in the drug delivery device market due to expanding patient pool arising from the burgeoning geriatric population and prevalence of chronic diseases such as diabetes. Countries like China and India are emerging as the major contributors, owing to their low manufacturing costs and significant exports. The region also holds immense potential for self-injectable devices as consumers are increasingly opting for home healthcare solutions to avoid high hospital bills. This compels device companies to focus on developing user-friendly designs specifically for the Asian demographic.
Global Drug Delivery Devices Market Market By Geography
- Largest
- Fastest
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Drug Delivery Devices Market Dynamics
Drivers
- Increasing Government Investments on Healthcare
The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry driven by both public and private players, especially in the developing economies, will create lucrative market growth opportunities. Moreover, growing initiatives by the government to provide the best of drugs against cancer, infectious diseases, respiratory diseases, diabetes, cardiovascular diseases and others in the remote areas will further carve the way for the growth.
- Increasing Prevalence of Diseases
There is a growing demand for efficient medication delivery techniques due to the rising worldwide burden of chronic diseases such diabetes, autoimmune disorders, and cardiovascular diseases. The use of subcutaneous drug delivery devices in the treatment of chronic illnesses is being fueled by benefits such increased patient compliance, decreased frequency of dose, and accurate drug delivery.
Restraints
- High Competition from Alternative Drug Delivery System
Oral drugs, intravenous injections, and transdermal patches are some examples of alternative drug delivery systems that compete with subcutaneous drug delivery devices. Many variables, including the treatment needs, patient preferences, and medication qualities, influence the choice of administration technique.
- Growing Concern about Safety and Efficiency
It is crucial to guarantee the safety and effectiveness of subcutaneous drug delivery systems. Market setbacks may result from any problems relating to device malfunction, contamination, or unpleasant reactions that damage patient and provider trust.
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Drug Delivery Devices Market Competitive Landscape
The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Companies are also spending money on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing. This requires constant research and development initiatives to stay ahead in this ever-changing business setting.
Top Player’s Company Profile
- Pfizer, Inc.
- Novartis AG
- BD
- Bayer AG
- UniQure N.V.
- Sibiono GeneTech Co. Ltd.
- West Pharmaceutical Services Inc.
- Merck
- Teva Pharmaceutical Industries Ltd
- GlaxoSmithKline PLC
- Holozymes Inc.
- Altaris
- Elcam Medical
- Fresenius Medical Care
- Philips Healthcare
- Novo Nordisk
- Teva Pharmaceutical
- Eli Lilly and Company
- CSL Behring
- Amgen Inc.
Drug Delivery Devices Key Market Trends
- Increasing Emphasis on Biosimilar and Biologics: The market for subcutaneous drug delivery devices is being driven by the rising demand for biosimilars and biologics, which frequently need to be administered subcutaneously. Subcutaneous administration offers a practical and efficient way to provide biologics and biosimilars, which offer focused therapy for complex disorders.
- Increasing Geriatric Population: As the world’s population ages, age-related chronic diseases are becoming more common, which is pushing up demand for medication delivery systems. Subcutaneous drug delivery systems provide accurate dosage, ease of administration, and a lower chance of medication errors, all of which are tailored to the unique requirements of senior patients.
Drug Delivery Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global drug delivery devices market is increasing due to the adoption of electronic technology in healthcare devices along with the efficiency of drug delivery devices in treatment procedures are projected to drive the connected drug delivery devices market growth during the forecast period. In addition, the rising number of individuals suffering from chronic diseases, along with increasing emphasis on preventive care, is influencing the market positively. However, security concerns regarding patient data may hamper the market expansion. But rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 262.30 billion |
| Market size value in 2031 | USD 439.40 billion |
| Growth Rate | 5.90% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Drug Delivery Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Drug Delivery Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Drug Delivery Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Drug Delivery Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Drug Delivery Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Drug Delivery Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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