Drug Delivery Devices Market Trends, Forecast, Opportunity Assessment, Size, Growth, Development, Demand, Trends, Share, Segmentation, Business & Forecast to 2029
There is a huge rise in the number of diseases and disorders owing to the viral and bacterial infection. To study the live viruses and monitor the tissue health, a rising number of scientists and researchers are inducing their resources to revolutionize the drug delivery systems. The drug delivery devices are easily available via both online and offline modes of distribution but can be availed only with a prescription.
Data Bridge Market Research analyses that the drug delivery devices market is expected to undergo a CAGR of 17.23% during the forecast period. This indicates that the market value, which was USD 2,013.20 million in 2021, would rocket up to USD 7,177.769 million by 2029. “Injectable Drug Delivery” dominates the route of administration segment of the drug delivery devices market owing to the rising number of hospitals and clinics especially in the developing economies and increase in the adoption of injectable drugs. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Drug Delivery Devices Market Dynamics
- The rise in the prevalence of diseases
Surging prevalence of acute and chronic diseases and infections all around the globe is one of the major factors responsible for fostering growth in the market value. According to a recent report, there are more than 20 million in the country suffering from diabetes and this number is projected to surpass 57 million by 2025.
- Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted over live viruses with an aim to develop drugs is also bolstering the market growth rate.
- Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry being 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.
Additionally, surge in the personal disposable income level, introduction of technologically driven products in hospitals, increasing investment for the development of advanced medical products and devices and rising number of cancers, respiratory diseases, and diabetic patients in the backward economies, positively affect the market growth rate.
Furthermore, upsurge in the public-private funding for target research activities, increasing levels of air pollution, and 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 of 2022 to 2029. Additionally, surging number of strategic collaborations, rising internet penetration rate, growing number of hospitals and laboratories, and increasing per capita expenditure on health care will further expand the market’s growth rate in the future.
Global Drug Delivery Devices Market Scope
The drug delivery devices market is segmented on the basis of route of administration, patient care setting and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Route of administration
- Oral Drug Delivery
- Injectable Drug Delivery
- Topical Drug Delivery
- Ocular Drug Delivery
- Pulmonary Drug Delivery
- Nasal Drug Delivery
- Transmucosal Drug Delivery
- Implantable Drug Delivery
Based on route of administration, the drug delivery devices market is segmented into oral drug delivery, injectable drug delivery, topical drug delivery, ocular drug delivery, pulmonary drug delivery, nasal drug delivery, transmucosal drug delivery and implantable drug delivery.
Patient care setting
- Diagnostic Centers
- Ambulatory Surgery Centers/Clinics
- Home Care Settings
Based on patient care setting, the drug delivery devices market is segmented into hospitals, diagnostic centers, ambulatory surgery centers or clinics, home care settings and others.
- Infectious Diseases
- Respiratory Diseases
- Cardiovascular Diseases
- Autoimmune Diseases
- Central Nervous System Disorders
Based on application, the drug delivery devices market is segmented into cancer, infectious diseases, respiratory diseases, diabetes, cardiovascular diseases, autoimmune diseases, central nervous system disorders and others.
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Drug Delivery Devices Market Regional Analysis/Insights
The drug delivery devices market is analysed and market size insights and trends are provided by country, route of administration, patient care setting and application as referenced above. The countries covered in the drug delivery devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the drug delivery devices market because of the strong base of healthcare facilities, rising investment from key players in the growth of the advanced devices, growing number of processes pertaining to drug development, rising prevalence of chronic diseases, the presence of a large number of pharmaceutical companies and rising number of research activities in this region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, increasing incidences of chronic diseases for example cardiovascular diseases, diabetes, cancer and other diseases and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Drug Delivery Devices Market Share Analysis
The drug delivery devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to drug delivery devices market.
Some of the major players operating in the drug delivery devices market are BD. (US); F. Hoffmann-La Roche Ltd (Switzerland); Antares Pharma (US); Novartis AG (Switzerland); 3M (US); Sulzer Ltd (Switzerland); Gerresheimer AG (Germany); Sanofi (France); Johnson & Johnson Services, Inc. (US); Bayer AG (Germany); GlaxoSmithKline plc (UK); Novosanis (Belgium); MEDMIX SYSTEMS AG (Switzerland); Merck & Co., Inc. (Germany); Pfizer Inc. (US); Insulet Corporation (US); OraSure Technologies, Inc. (US); Enable Injections (US); West Pharmaceutical Services, Inc. (US); SMC Ltd. (Philippines); ViVO Smart Medical Devices Ltd. (UK) and Cipla Inc. (US) among others.
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