New York, USA, Oct. 20, 2022 (GLOBE NEWSWIRE) -- According to Strategic Market Research, the Global Drug Delivery Devices Market size in 2021 was USD 239.2 billion, and by 2030 it will be USD 340.45 billion, with a 7.1% CAGR. The formulations, strategies, and techniques used to deliver chemical substances or drugs inside the body are referred to as drug delivery. This is used to treat, diagnose, cure, or prevent several diseases, including diabetes, gastrointestinal disorders, bacterial and viral infections, and allergies. The materials most frequently used to produce drug delivery systems include ethylene vinyl acetate, silicone, polyurethane, acrylate hydrogels, and other biodegradable materials.
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Drug Delivery Devices Market Insights:
- By route of administration, the oral segment ruled the overall drug delivery devices market in 2020.
- In 2020, the cancer segment held a significant position in the market on the basis of application.
- On the basis of end-user, in 2020, the hospital segment ruled the market with the largest market share.
- Regionally, North America ruled the overall drug delivery devices market, with a revenue share of around 34% in 2021.
Factors accelerating the Drug Delivery Devices Market growth:
The increasing incidence of chronic diseases and the biopharmaceutical industry's growth are driving the market's expansion.
- The market for drug delivery devices is expected to augment by the increasing prevalence of chronic diseases like cardiovascular conditions, diabetes, cancer, and other illnesses. The World Health Organization estimated that by 2020, chronic diseases would be responsible for nearly 75% of all fatalities worldwide, with developing nations accounting for 71% of deaths from ischemic heart disease (IHD), 75% of deaths from stroke, and 70% of deaths from diabetes.
- The biopharmaceutical industry's rapid growth is resulting in the creation of numerous new drugs that are beneficial in the treatment of various diseases. The development of novel new drugs is aided by the growing investments made in clinical trials by pharmaceutical companies and the active role taken by various regulatory agencies like the FDA and EMA.
Drug Delivery Devices Market: A thorough Segmentation Analysis
The worldwide Drug Delivery Devices Market segmentation has been performed on the basis of route of administration, Application, End-user, and region.
By Route of Administration:
- Nasal
- Inhalation
- Injectable
- Topical
- Oral
- Ocular
- Others
By Application:
- Diabetes
- Infectious Diseases
- Cancer
- Cardiovascular
- Others
By End-User
- Home Healthcare
- Ambulatory Services
- Hospitals
By Region
North America
- Canada
- United States
Europe
- United Kingdom
- France
- Germany
Asia Pacific
- Japan
- India
- China
- South Korea
- Rest of the World
LAMEA
- Argentina
- Israel
- Brazil
- Saudi Arabia
- South America
- Mexico
- United Arab Emirates
- Rest of LAMEA
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By route of administration, the oral segment ruled the overall drug delivery devices market in 2020. This is due to the growing popularity of oral drug delivery because it is painless, patient-friendly, non-invasive, cost-effective, and self-administered. Furthermore, most medicines are available in tablet, powder, and liquid forms and are typically administered orally. Therefore, the enormous availability of oral medications has accelerated the segment's growth.
In 2020, the cancer segment held a significant position in the market on the basis of application. The increased incidence of cancer is the main factor stimulating the growth of this market segment. Worldwide cancer cases are estimated to increase by 47% between 2020 and 2040. Globally, 28.4 million cases are predicted to be reported in 2040. Therefore, the main drivers of this market are the rising prevalence of different cancers like breast, lung, womb, and bowel cancer.
It is predicted that the cardiovascular segment will be the fastest-growing market segment during the projected time. This market segment is expanding as a result of the rising occurrence of CVDs in the population due to unhealthy eating habits and inactivity.
On the basis of end-user, in 2020, the hospital segment ruled the market with the largest market share. The expansion of this market was facilitated by the rising public and private sector investments in hospital construction. Furthermore, the segment's growth is being driven by the increase in hospital admissions rate.
Regionally, North America ruled the overall drug delivery devices market, with a revenue share of around 34% in 2021. This is due to the increasing incidence of chronic diseases in the US, including diabetes, cancer, and CVDs. The US's rising healthcare costs and increased health awareness have accelerated the market's expansion. The growth of drug delivery devices in North America has been significantly aided by the increased awareness of the availability of numerous cutting-edge drug delivery devices, such as pen injectors and wearable injectors.
| Report Attribute | Details |
| Forecast Period | 2021 - 2030 |
| The market size value in 2021 | USD 239.2 billion |
| The revenue forecast in 2030 | USD 340.45 billion |
| Growth rate | CAGR of 4.0 % |
| The base year for estimation | 2021 |
| Historical data | 2017 – 2020 |
| Unit | USD Billion, CAGR (2021 - 2030) |
| Segmentation | By Route of Administration, By Application, By End User, By Region |
| In terms of Route of Administration | Ocular, Oral, Inhalation, Nasal, Injectable, Topical, Others |
| In Terms of Application | Diabetes, Cancer, Infectious Diseases, Cardiovascular, Others |
| By End-User | Ambulatory Services, Home Healthcare, Hospitals. |
| By Region | North America, Asia Pacific, Europe, and The Rest of the world |
| Country Scope | Canada, Mexico, US, Germany, the UK, France, India, Japan, China, etc. |
| Company Usability Profiles | Pfizer, Inc, Novartis AG, Bayer AG, Shenzhen (SiBiono) , GeneTech Company Ltd.(Hubei Tongji Benda Ebei Pharma), F. Hoffmann-La Roche, 3M, Johnson & Johnson Services, Antares Pharma, Inc, uniQure N.V, |
Drug Delivery Devices Market Report Coverage
Key players in Drug Delivery Devices Market:
- Medtronic Plc
- Insulet Corporation
- Boehringer Ingelheim group
- Consort Medical Plc
- AstraZeneca PLC
- GlaxoSmithKline Plc
- Antares Pharma, Inc
- Gene Tech Company Ltd.
- Shenzhen
- F. Hoffmann-La Roche
- Novartis AG
- 3M
- Pfizer, Inc
- uniQure N.V
- Sulzer Ltd.
- Johnson & Johnson Services Inc
- Becton Dickinson
- Bayers AG
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Recent Developments
- On October 2022, NuGen Medical Devices Inc., a needle-free drug delivery pioneer, announced the launch of its InsuJetTM devices in Canada.
- On October 2022, atai Life Sciences, a clinical-stage biopharmaceutical company, announced the start of a Phase one Proof of Concept clinical trial of the intranasal INB 01, which is a sol gel-based excipient drug delivery technology.
- On October 2022, Becton Dickinson announced its collaboration with Biocorp on connected self-injection devices. They will use connected technology on self-administered medicines, such as biologics, to capture and transmit injection data and monitor patients' adherence to therapy.
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