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Global Drug Delivery Devices Market Size was valued at USD 251.9 Billion in 2022. The Drug Delivery Devices market industry is projected to grow from USD 264.2 Billion in 2023 to USD 387.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.20% during the forecast period (2023 - 2032). Both the demand for innovative drug delivery systems and the administration of medications to the target place are becoming more advanced, are the key market drivers enhancing the market growth
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The growing adoption of cutting-edge technology for effectively delivering the medication to the target site is predicted to lead to an expansion in the overall market. Moreover, using these drug delivery systems reduces the possibility of side effects by increasing the medication's presence at the target site. This lessens the dose and any adverse effects that may result. The cost of the finished product is also reduced by utilizing less of the active medicinal ingredient. The field's R&D is expected to grow in response to the growing demand for cutting-edge medicine delivery methods. Major industry players are frequently forming strategic alliances to develop cutting-edge technology for various applications. In order to investigate Aptamer's technology and develop a ground-breaking renal drug delivery system, AstraZeneca and the biotechnology company Aptamer Group joined in January 2019. Additionally, as medication delivery systems are becoming accepted in home-care settings, there are more patients who can access these devices.
Numerous companies are developing patient-friendly drug delivery methods in response to the increasing demand, and other market participants are buying these companies to diversify their holdings. In October 2019, Aptar Pharma acquired Noble International and their training drug delivery systems. The patient-centric enhanced medicine delivery training devices Noble International developed include prefilled syringes and auto-injectors. This acquisition will help patients properly administer medicines by utilizing advanced drug delivery technologies.
Research is still being done to make drug delivery systems more patient-friendly, accessible, and precise. As a result, participants are constantly researching cutting-edge technologies and developing cutting-edge drug delivery methods. A wearable medicine administration device with electronic capabilities was going to be introduced, Phillips-Medisize, a branch of Molex Company, said in October 2019. The product, which combines two-day, single-use, disposable technology for subcutaneous medicine delivery, is currently in the post-phase three development stage. Additionally, the company has previously filed the New Drug Application (NDA) to the Food and Drug Administration (FDA) along with significant supporting information. The release of this product is planned for the second half of 2020. Advances in polymer science are also helping to design medicine delivery devices. The development of such specific polymers will increase the accuracy of the drug distribution by the devices. Therefore, it is projected that during the course of the projection period, the development of technologically advanced drug delivery systems will fuel market expansion. Thus, driving the Drug Delivery Devices market revenue.
The global Drug Delivery Devices market segmentation, based on Application, includes cardiovascular, diabetes, cancer, infectious diseases, and others. Diabetes segment dominated the global market in 2022. The prevalence of diabetes is on the rise, which is the main contributor. For instance, according to the American Diabetes Association (ADA), 34.2 million Americans had diabetes in 2018, of which 26.8 million had received a diagnosis and 7.3 million had not. Therefore, it is expected that the growing number of cases of diabetes that have been diagnosed would have an impact on the adoption of medicine delivery devices in the field of diabetes.
The global Drug Delivery Devices market segmentation, based on Route of Administration, includes oral, ocular, inhalation, nasal, injectable, topical, and others. Oral segment dominated the global market in 2022. For the oral drug delivery method, a variety of dose forms are available, including tablets, capsules, syrups, solutions, and suspensions. This class also includes drug delivery devices like films and tablets. Oral administration is the best option in terms of safety, ease of use, affordability, and medicine stability.
The global Drug Delivery Devices market segmentation, based on End User, includes hospitals, ambulatory services, and home healthcare. Hospitalssegment dominated the global Drug Delivery Devices market in 2022.To treat the variety of ailments that hospitalized patients present with, several drugs and drug delivery techniques are used. Hospital-acquired infections, however, are predicted to have an impact on the utilization of medicine delivery systems in hospitals, which could restrict segment growth during the anticipated timeframe.
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By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study.The North America Drug Delivery Devices Market dominated this market in 2022 (45.80%). This is brought on by the presence of significant players in the area and the expanding use of drug delivery systems. Additionally, rising regional awareness of the benefits of drug delivery devices is anticipated to promote market expansion in the area. Additionally, rising product approval in nations like the US is anticipated to support market expansion. The U.S. FDA approved Aptar Pharma's nasal medication delivery system in March 2019.Further, In the North American area, the U.S. Drug Delivery Devices market had the biggest market share, while the Canada Drug Delivery Devices market had the quickest rate of expansion.
Further, the major countries studiedin the market reportare The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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The Europe Drug Delivery Devices market accounted for the healthy market share in 2022. Top market players in the region have a ton of opportunities, in part because of mature economies and alluring regulatory frameworks. Further, In the European region, the German Drug Delivery Devices market had the biggest market share, and the U.K. Drug Delivery Devices market had the quickest rate of growth.
The Asia Pacific Drug Delivery Devices market is expected to register significant growth from 2023 to 2032. This is a result of the region's quick economic growth. A large patient population is also driving a range of end users to employ pharmaceutical delivery systems in countries like China, India, and Japan. Furthermore, several drug delivery methods are employed in Japan to give specific types of drugs. Moreover, In the Asia-Pacific region, the Indian Drug Delivery Devices market had the quickest rate of growth while China's Drug Delivery Devices market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Drug Delivery Devices market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Drug Delivery Devices sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Drug Delivery Devices sector. Major players in the Drug Delivery Devices market, including Pfizer, Inc., F. Hoffmann-La Roche Ltd, Johnson and Johnson Private Ltd, Novartis AG, Bayer AG, Becton, Dickinson and Company, and Uniqure NV, are attempting to increase market demand by investing in research and development Applications.
Corium International is a company that creates systems and equipment for medicine delivery and is based in Grand Rapids, Michigan. Development, manufacturing, and marketing of specialized pharmaceutical products with transdermal and transmucosal delivery methods, as well as preclinical and clinical development programs, with a primary focus on the treatment of neurological illnesses, are the company's key areas of concentration. This enables the easy, safe, and efficient delivery of both small- and large-molecule therapies to clients, with important clinical and financial advantages. The US FDA approved Adlarity in March 2022 to treat people with mild, moderate, or severe dementia associated with Alzheimer's.
Pharmaceutical product development, manufacturing, marketing, commercialization, import, and export are the main areas of focus for pharmaceutical research-based company Takeda Pharmaceutical Co Ltd (Takeda). The company sells products for cancer, gastrointestinal, rare disorders, vaccinations, and medicines generated from plasma. Among the nations where Takeda conducts business are Japan, Argentina, Brazil, Mexico, the United States, Denmark, Norway, Poland, Russia, Spain, Switzerland, China, India, and Canada. It markets its products directly as well as via a global network of distributors, retail chains, and other purchasing groups. Takeda works with major pharma, little biotech, and governmental organizations. It exists in the Americas, Europe, and Asia, among other areas. The main office of Takeda is located in Tokyo, Japan. The US Food and Drug Administration (US FDA) granted authorization for TAKHZYRO (lanadelumab-flyo) injection in a single-dose prefilled syringe (PFS) in February 2022 for use in preventing attacks of hereditary angioedema (HAE) in adult and pediatric patients 12 years of age and older.
· Pfizer, Inc.
· F. Hoffmann-La Roche Ltd
· Johnson and Johnson Private Ltd
· Novartis AG
· Bayer AG
· Becton, Dickinson, and Company
· Uniqure NV
June 2022: Gufic Biosciences Ltd. debuted Dual Chamber Bags, a ground-breaking medication delivery system, for the first time in India at a reasonable price.
December 2021:Gerresheimer AG and American Biotech entered a significant deal to develop a revolutionary pump that would continually provide a medication for the treatment of rare illnesses.
November 2020:Medtronic released the InPen, which is linked to Guardian Connect's real-time CGM data. The technology provides real-time glucose measurements together with information on insulin dosing.
· Oral
· Ocular
· Inhalation
· Nasal
· Injectable
· Topical
· Others
· Cardiovascular
· Diabetes
· Cancer
· Infectious Diseases
· Others
· Hospitals
· Ambulatory Services
· Home Healthcare
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 251.9 Billion |
|
Market Size 2023 |
USD 264.2 Billion |
|
Market Size 2032 |
USD 387.7 Billion |
|
Compound Annual Growth Rate (CAGR) |
5.20% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Route of Administration, Application, End User, and Region |
|
Geographies Covered |
North America, Europe, AsiaPacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Pfizer, Inc., F. Hoffmann-La Roche Ltd, Johnson and Johnson Private Ltd, Novartis AG, Bayer AG, Becton, Dickinson and Company, and Uniqure NV |
|
Key Market Opportunities |
High growth potential in developing economies |
|
Key Market Dynamics |
Increasing adoption of advanced technology for effectively delivering the drug on the target site and increasing demand for novel drug delivery devices |
The global Drug Delivery Devices Market was valued at USD 251.9 billion in 2022, and it is estimated to reach USD 387.7 billion by 2032.
The global market is projected to grow at a CAGR of 5.20% during the forecast period, 2023-2032
North America had the largest share in the global market
The key players in the market are Pfizer, Inc., F. Hoffmann-La Roche Ltd, Johnson and Johnson Private Ltd, Novartis AG, Bayer AG, Becton, Dickinson and Company, and Uniqure NV
The OralRoute of Administration dominated the market in 2022.
The DiabetesApplicationhad the largest share in the global market.
Report Code :
RL6574
Published on :
Aug 2023
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