Drug Delivery Devices Market Size To Touch USD 421.4 Bn By 2032

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The global drug delivery devices market size was evaluated at USD 269.8 billion in 2022 and it is predicted to touch USD 421.4 billion by 2032, expanding at a compound annual growth rate (CAGR) of 4.56% between 2023 and 2032.

Drug delivery devices are used to deliver a drug through a specific route of administration. These devices are used in medical treatments. These devices are designed using advanced technologies that carry drugs into the body. It includes the method of delivery. It protects the drug from degradation. It allows it to travel wherever it needs to go in the body. This field has advanced dramatically in the past few years. Rapid innovations are expected in the coming years. 

The doctors try to administer intervention to the parts of the body directly affected by the disease. Drugs are used to improve health and treat diseases. Drug delivery devices help to achieve a therapeutic effect. Drug Delivery has played a crucial role in the pharmaceutical industry over the last several years. It provides a therapeutic amount of medication to the body. The market players are developing novel drug delivery devices.

Growth Factors

Increasing adoption of advanced technology significantly contributes to the drug delivery devices market growth. These technologies are used to effectively deliver the drug to the target area of the body. These devices lower the chances of side effects by targeting the drug present at the target site. It helps in minimizing the side effects. It also helps in reducing the product price. The development of novel drug delivery devices creates a positive outlook for the market. 

The extensive research and development activities in developing advanced drug delivery devices positively influence market growth. The market players are engaged in strategic alliances to create sophisticated technology for various applications. The increasing demand for drug delivery devices in home-care settings catalyzes market growth. 

The development of various patient-friendly drug delivery devices propels the market growth. Rapid technological upgradation in drug delivery devices strengthens the market growth. It makes the device more patient-friendly and accurate. The market players are continuously developing new technologies. The launch of technologically advanced drug delivery devices fuels market growth. 

Drug Delivery Devices Market Report Scope

Report Highlights:

• Based on the route of administration, the oral route dominated the market and accounted for the largest revenue share. The market is divided into oral, inhalation, transdermal, injectable, ocular, nasal, topical, and others. The oral route of administration covers tablets, capsules, syrups, solutions, and suspensions. It also includes films and tablets. It is the route of administration due to its ease of use, cost, safety, and drug stability. Inhalation drug delivery systems are used in asthma and Chronic Obstructive Pulmonary Disease cases. Factors such as rapid technological advancements and the increasing prevalence of respiratory diseases significantly contribute to the segment's growth. The injectable route of administration is expected to witness a promising CAGR in the coming years. This is due to the launch of prefilled syringes and pen injectors.
• Based on application, the market is divided into oncology, infectious diseases, respiratory diseases, diabetes, cardiovascular diseases, autoimmune diseases, neurology, and others. Diabetes dominated the market and accounted for the largest revenue share. This is due to the increasing prevalence of diabetes. The rising cases of diagnosed diabetes are accelerating product demand. Oncology captured a significant share of the market. This is due to the growing prevalence of cancer across the globe. Central Nervous System (CNS) disorders are expected to witness a promising CAGR in the coming years. This is due to the increasing incidence of neurological disorders such as Parkinson's disorder, Alzheimer's disease, Hunter's syndrome, and brain tumors. 
• Based on the vehicle, the market is divided into the hydrogel, micelle, dendrimer, nanoparticle, liposomes, scaffold, niosomes, and mesoporous material. The liposome dominated the market and accounted for the largest revenue share. This is due to the various advantages associated with it. It is non-immunogenic, non-hemolytic, non-toxic, biodegradable, and biocompatible. Hydrogels held a significant share of the market. It is an alluring drug delivery vehicle. It can be molded into various forms, such as microparticles, slabs, nanoparticles, films, and coatings. Nanoparticle drug delivery vehicle is expected to witness a promising CAGR in the coming years. This is due to the rising research and development activities of nanoparticles. The rapid development of nanoparticle drug delivery vehicles propels the segment's growth.
• Based on end-use, the market is divided into hospitals, diagnostic centers, ambulatory surgical centers/clinics, and home care settings. Hospitals dominated the market and accounted for the largest revenue share. This is due to the rising incidence of cancer, diabetes, and neurological disorders. Patients need drugs for treatment. For this, various drug delivery devices are used. Diagnostic centers held a significant share of the market. These centers are developing novel drug-delivery devices. Home care settings are expected to witness a promising CAGR in the coming years. This is due to increasing product demand in home care settings. The rising hospital-acquired infections and longer hospital wait times significantly contribute to the segment's growth.

Regional Snapshots

Based on region, North America dominated the market and accounted for the largest revenue share. This is due to the presence of significant players in the region. The increasing demand for drug delivery devices significantly contributes to market growth. In line with this, rising awareness regarding the advantages of drug delivery devices positively influences market growth across the region. 

Furthermore, the escalating product approval in countries catalyzes market growth. Europe region held a significant share and is expected to witness moderate growth. The favorable regulatory procedures offer lucrative opportunities for the major market players in the region. 

Asia Pacific is expected to witness a promising CAGR in the coming years. This is due to the high economic growth in the region. Furthermore, a large patient population significantly contributes to the demand for drug delivery devices. Rapid demand for advanced drug delivery devices in the region fuels market growth. 

Market Dynamics:

Driver: Increasing prevalence of diseases

The Increasing prevalence of diseases significantly contributes to the demand for drug-delivery devices across the globe. In line with this, the rising chronic and infectious disease incidence positively influences the market growth. Furthermore, the growing prevalence of diabetes catalyzes market growth. 

Moreover, rising expenditure for research and development activities across developed and developing economies creates a positive outlook for the market. Research and development activities to develop advanced drug delivery devices propel market growth.

Opportunity: Government investments in healthcare infrastructure

The rising government investments in improving healthcare infrastructure offer numerous opportunities for the drug delivery devices market growth across the globe. The growing funding by the federal government significantly contributes to market growth. In line with this, the growth and expansion of the healthcare industry catalyze market growth. 

Furthermore, the healthcare industry expansion activities conducted by the public and private players create a positive outlook for the market. The increasing government initiatives to develop drug delivery devices against cancer, infectious diseases, respiratory diseases, diabetes, cardiovascular diseases, and others in remote areas offers various opportunities for market expansion. 

The launch of technologically advanced products creates a positive outlook for the market. The development of advanced medical products significantly contributes to market growth. The strategic collaborations and increasing number of hospitals and laboratories positively influence the market growth.

Restraint: High costs

The costs of the production of drug delivery devices are very high. This factor restricts the drug delivery devices market growth. Furthermore, the research and development activities of the drug delivery device also involve a considerable cost. This is also hampering the market growth.

Challenge: Imposition of stringent regulations

The government's stringent regulations on drug delivery devices challenge market growth. These regulations are also imposed on drug delivery systems. The lack of a favorable reimbursement scenario hampers the market growth. Furthermore, the availability of low-cost substitutes impedes the market growth. Moreover, the lack of developed infrastructure in low- and middle-income countries challenges market growth.  

Key Developments

• In September 2016, DelSiTech and Bayer collaborated to develop innovative delivery technology in the field of ophthalmology. 
• In December 2016, SMC Ltd. acquired Oval Medical Technologies Ltd. to expand its product portfolio.

Major Key Players:

• Pfizer, Inc.
• F. Hoffmann-La Roche Ltd
• Johnson and Johnson Private Ltd
• Novartis AG
• Bayer AG
• Becton, Dickinson and Company
• Uniqure NV

Market Segmentation

By Route of Administration

• Oral
• Ocular
• Inhalation
• Nasal
• Injectable
• Topical
• Others

By Application

• Cardiovascular
• Diabetes
• Cancer
• Infectious Diseases
• Others

By End User

• Hospitals
• Ambulatory Services
• Home Healthcare

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