Dublin, May 08, 2023 (GLOBE NEWSWIRE) -- The "Europe Drug Delivery Devices Market By Route of Administration (Oral Drug Delivery, Injectable Drug Delivery, Topical Drug Delivery, Ocular Drug Delivery, Pulmonary Drug Delivery, Others), By Device, By End User, By Country, Competition, Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
Europe drug delivery devices market is expected to grow at a significant rate during the forecast period, 2024-2028
The rising adoption of advanced technology to effectively deliver drugs to the target site, along with the increasing adoption of biologics, is anticipated to augment the growth of the market. Drug delivery devices are helpful, especially in the case of patients who are unable to consume the medication through the oral route.
Moreover, surging research & development activities to develop various new drugs which are effective in the treatment of several diseases are likely to positively impact the growth of the market during the forecast period. Rising investments by the public, as well as private sectors are propelling the growth of the market.
Also, ease in getting FDA approvals is further expected to bolster the growth of the market over the next few years. The growing burden of chronic diseases as well as the large patient pool in the country, are surging the demand for drug delivery devices. For instance, according to the Global Cancer Observatory, in 2020, over 530,000 patients were diagnosed with breast cancer each year and accounting for approximately 29% of all cancers in women in Europe.
In addition, the increasing adoption of drug-delivery devices in home-care settings is raising the accessibility of these devices for patients. Therefore, these factors are projected to strengthen the growth of the market in the upcoming years.
Rising Burden of Chronic Diseases
Increasing incidences and prevalence of chronic diseases such as cancer, hypertension, diabetes, heart strokes, and cardiovascular diseases (CVDs), among others, among the elderly population in the country, are bolstering the growth of the market.
According to the European Society of Cardiology's 2019 report, there are over 6 million new cases of CVD in the European Union (EU) and over 11 million in Europe in total every year. In addition, the increase in the proportion of older people who are aged 60 and more in the country is facilitating the growth of the market.
This is because older people are more susceptible to chronic diseases due to rising age. For instance, according to Statista data of 2021, Europe has the largest proportion of the aging population at 19%, whereas Italy has the largest elderly population share with 23.5% of the total population.
Growing Adoption of Advanced Technology
Rapid advancements in the tools and technology of the healthcare sector are projected to bolster the growth of the market. These advancements are made to make the devices more patient-friendly, accessible, and accurate.
For instance, in 2021, Xeris Pharmaceuticals, Inc. obtained approval from the European Commission (EC) for an Ogluo (glucagon) pre-filled pen, which is used for the treatment of severe hypoglycemia in adults, adolescents, and children the age of 2 years and over with diabetes mellitus.
In addition, several players are constantly researching new technologies and developing advanced drug-delivery devices. Therefore, propelling the growth of the market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Europe drug delivery devices market.
- F. Hoffmann-La Roche Ltd
- Antares Pharma
- Novartis AG
- 3M Company
- Sulzer Ltd
- Gerresheimer AG
- Sanofi S.A.
- Johnson & Johnson Services, Inc.
- Bayer AG
- GlaxoSmithKline plc
Report Scope:
Europe Drug Delivery Devices Market, By Route of Administration:
- Oral Drug Delivery
- Injectable Drug Deliver
- Topical Drug Delivery
- Ocular Drug Delivery
- Pulmonary Drug Delivery
- Others
Europe Drug Delivery Devices Market, By Device:
- Syringes
- Inhalers
- Patch Pumps
- Others
Europe Drug Delivery Devices Market, By End User:
- Hospitals & Clinics
- Ambulatory Surgery Centers
- Others
Europe Drug Delivery Devices Market, By Country:
- Germany
- France
- United Kingdom
- Italy
- Spain
- Switzerland
- Netherlands
- Turkey
- Sweden
- Belgium
For more information about this report visit https://www.researchandmarkets.com/r/okva0n
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