Global Drug Delivery Devices Market Size By Drug Delivery Route (Oral Drug Delivery And Injectable Drug Delivery), By End-User (Hospitals And Diagnostic Centers), By Application (Oncology And Infectious Diseases), By Geography Scope And Forecast
Report ID: 316004|No. of Pages: 202
Global Drug Delivery Devices Market Size By Drug Delivery Route (Oral Drug Delivery And Injectable Drug Delivery), By End-User (Hospitals And Diagnostic Centers), By Application (Oncology And Infectious Diseases), By Geography Scope And Forecast
Drug Delivery Devices Market Size And Forecast
Drug Delivery Devices Market size was valued at USD 2.13 Billion in 2022 and is projected to reach USD 7.96 Billion by 2030 growing at a CAGR of 16.27% From 2024-2030.
The global Drug Delivery Devices Market is expanding primarily due to the increasing prevalence of the chronic disease across the globe. Due to lifestyle choices and lack of physical exercise, the cases of diabetes, cardiovascular diseases, and cancer have exponentially increased in the past decade. This has promoted the key players to launch innovative medications and invest heavily in R&D activities. Such developments have greatly propelled the market for drug-delivery devices. The leading market players are introducing innovative products that offer better drug efficacy while reducing side effects, which is expected to open many attractive opportunities during the forecast period.
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Global Drug Delivery Devices Market Definition
Drug Delivery Devices are medical devices that are used for delivering medicinal drugs into the patient’s body. Drug Delivery Devices have extensive applications in various medical and therapeutic applications, to improve patients’ conditions. There are many Drug Delivery Devices available in the market such as Prefilled syringes autoinjectors, Infusion pumps, metered dose inhalers (MDIs), nebulizers, nasal sprays, eye droppers, intrauterine devices (IUDs), and many others.
Based on the dosage form and the delivery requirements for any drug, the drug delivery device is selected by the healthcare professional. For example, to deliver medication for asthma, a metered-dose inhaler (MDI) is used, which disperses a precise amount of medication into the lungs to provide relief. There are four distinct ways of delivering a drug; by swallowing, by inhalation, by absorption through the skin, or by injection. Every drug delivery device follows one of these four ways to deliver the drug. Using an appropriate drug delivery device is crucial to reduce side effects and increase the level of a drug present at the target site.
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Global Drug Delivery Devices Market Overview
The Drug Delivery Devices Market is experiencing exponential market growth due to the recent pandemic. Moreover, the primary growth factors for the drug delivery market include the growing prevalence of various disorders, the introduction of new medicinal products, and constant research and development activities from pharmaceutical and biotechnology companies. Because of lifestyle changes and lack of physical activities, the overall immunity of the population has lowered drastically. It has increased their susceptibility to infections, pathogens, and various lifestyle-related disorders. Along with this, the global population has also highlighted an increasing number of cases of diabetes, cardiovascular diseases, cancer, and many other chronic conditions.
Such developments have increased the demand for available Drug Delivery Devices and innovative Drug Delivery Devices to further improve drug efficacy. Pharmaceutical and biotechnology companies are also greatly investing in R&D to develop innovative Drug Delivery Devices to achieve efficient drug delivery while keeping the side effects low. However, the higher R&D cost and stringent government regulations regarding the use of Drug Delivery Devices are potential market restraints that are expected to negatively impact the market. The medical sector is highly regulated under some of the strictest regulations of any other industry. Although such regulations are necessary to ensure patient safety, it indeed restricts the expansion of the market.
Global Drug Delivery Devices Market Segmentation Analysis
The Global Drug Delivery Devices Market is segmented on the basis of Drug Delivery Route, End-User, Application, and Geography.
Drug Delivery Devices Market, By Drug Delivery Route
- Oral Drug Delivery
- Injectable Drug Delivery
- Topical Drug Delivery
- Ocular Drug Delivery
- Pulmonary Drug Delivery
- Others
Based on the Drug Delivery Route, The Global is segmented into Oral Drug Delivery, Injectable Drug Delivery, Topical Drug Delivery, Ocular Drug Delivery, Pulmonary Drug Delivery, And Others. The oral drug delivery route held the leading market share owing to higher patient acceptance and the ease of delivering the drug. The oral route has the most available dosage forms as it is much easier to administer the drug, and patients also show higher acceptance of such products over injectables and other dosage forms. Oral dosage forms also offer many benefits, such as lower cost of development, minimal side effects, and patient safety.
Drug Delivery Devices Market, By End-User
- Hospitals
- Diagnostic Centers
- Clinics
- Home care settings
- Others
Based on End-Users, Hospitals, Diagnostic Centers, Clinics, Home Care Settings, And Others are the segments in the Drug Delivery Devices Market. The hospital segment is estimated to have the largest market share because of increasing hospital admissions due to various chronic conditions. With the growing prevalence of disorders, the reliance on hospitals is increasing rapidly which has allowed the segment to generate the highest revenue during the forecast period.
Drug Delivery Devices Market, By Application
- Oncology
- Infectious diseases
- Respiratory diseases
- Diabetes
- Cardiovascular diseases
- Autoimmune diseases
- Neurology
- Others
Based on Application, the market is bifurcated into Oncology, Infectious Diseases, Respiratory Diseases, Diabetes, Cardiovascular Diseases, Autoimmune Diseases, Neurology, And Others. The diabetes segment generates the highest revenue during the forecast period because of various Drug Delivery Devices used to manage the condition. Diabetes includes various insulin delivery systems, such as subcutaneous insulin injections and insulin pens. Lack of exercise and improper diet are contributing to the growing prevalence of diabetes, thus increasing the demand for drug-delivery devices for diabetes.
Drug Delivery Devices Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
On the basis of Geography, the Global Drug Delivery Devices Market is classified into North America, Europe, Asia Pacific, and Rest of the world.In our regional analysis, the North American region dominated the global Drug Delivery Devices Market because of its established healthcare sector and higher awareness of medication and Drug Delivery Devices. The North American region is also quick to adopt innovative medical devices as the key players in the region actively promote R&D activities. The North American region is also highly regulated which ensures the delivery of products that are safe to use and efficient.
Key Players
The “Global Drug Delivery Devices Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Pfizer Inc, Johnson & Johnson Services Inc, F. Hoffmann-La Roche Ltd, Novartis AG, BD, Bayer AG, uniQure NV, and Sibiono GeneTech Co Ltd are the prominent players in global Drug Delivery Devices Market. This section offers in-depth analysis through a company overview, position analysis, the regional and industrial footprint of the company, and the ACE matrix for insightful competitive analysis. The section also provides an exhaustive analysis of the financial performances of mentioned players in the given market.
Key Developments
- In January 2020, Novartis AG invested in a company named, Credence MedSystems to expand its presence in the Drug Delivery Devices Market.
- In November 2020, Pfizer Inc collaborated with the company named Croda International PLC to support Pfizer’s COVID-19 vaccine in terms of Drug Delivery Devices.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Drug Delivery Devices Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Drug Delivery Devices Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Pfizer Inc, Johnson & Johnson Services Inc, F. Hoffmann-La Roche Ltd, Novartis AG, BD, Bayer AG, uniQure NV, and Sibiono GeneTech Co Ltd |
| SEGMENTS COVERED | By Drug Delivery Route, By End-User, By Application, and By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
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