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.

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.