Emphasis on Type (Injectable Devices, Inhalation Devices, and Others); Technology (Bluetooth, NFC, and Others); Application (Oncology, Infectious Diseases, Respiratory Diseases, Diabetes, and Others)); and Region/Country
Global Drug Delivery Devices Market is expected to grow at a significant rate of around 6% during the forecast period. Drug delivery devices are specialized tools made for a specific route of drug or therapeutic material administration. The devices are used once or more during medical procedures. Drug delivery devices present unique challenges in many areas of product development, such as regulatory strategy, design, and material considerations, as well as the creation and use of testing protocols. Growth in the number of diabetic patients as well as an increase in the prevalence of cancer and respiratory ailments are driving an increase in the use of drug delivery systems among patients and professionals. Technological advances in medical device manufacturing have led to the development of innovative drug delivery devices that ensure the right amount of medicine is delivered to the patient at the right time. In addition, the growing burden of chronic diseases such as diabetes, cardiovascular disease, cancer, and COPD is driving the need for drug delivery devices. For instance, according to the International Agency for Research on Cancer, in 2020, approximately 19.3 million new cancer cases and 10 million cancer deaths have been reported worldwide. It is estimated that worldwide cancer cases will increase by 47% between 2020 and 2040. It is expected that 28.4 million cases will be recorded by 2040 worldwide. In addition, cardiovascular diseases accounted for about 32% of deaths globally in 2019. The rapid development of biopharmaceuticals and the development of many drugs capable of effectively curing chronic diseases has driven demand for drug delivery devices worldwide.
Pfizer, Inc.; Johnson & Johnson Services, Inc.; F. Hoffmann-La Roche, Ltd.; Novartis AG; BD; Bayer AG; uniQure N.V.; SIBIONO; GSK plc.; Amgen Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, injectable devices segment to witness higher CAGR during the forecast period”
Based on type, the market is segmented into injectable devices, inhalation devices, and others. The injectable segment witnessed a higher CAGR during the forecast period owing to the increasing demand for wearable injectable systems such as syringes for drug delivery. Furthermore, the entry of global players into emerging markets adds to the growth of the market. For instance, BD announced that it has received pandemic orders worldwide for needles and syringes, totaling 2 billion injection devices to support covid-19 vaccination efforts. Such high demand for syringes and needles is expected to boost the segmental growth till the vaccination gets over.
“Amongst technology, the bluetooth segment held a significant share in the market in 2020”
On the basis of technology, the market is categorized into bluetooth, NFC, and others. Among these, the Bluetooth segment to hold a significant share in the market in 2020 owing to higher utilization of the technology in order to connect drug delivery devices to smartphones. Additionally, greater bluetooth technology compatibility with other drug delivery devices and simplicity of use are anticipated to fuel the bluetooth sub- segment growth over the course of the projection period.
Drug Delivery Devices Market Report Coverage
“Amongst application, the diabetes segment held a significant share in the market in 2020”
On the basis of application, the drug delivery devices market has been classified into oncology, infectious diseases, respiratory diseases, diabetes, and others. The diabetes segment is to witness higher adoption of drug devices during the forecast period. This is mainly due to increasing cases of diabetes patients across the world. For instance, 34.2 million Americans have diabetes in 2018, of whom 26.8 million had a diagnosis and 7.3 million had been underdiagnosed, according to the American Diabetes Association (ADA). The adoption of drug delivery devices in the field of diabetes is therefore anticipated to be influenced by the rising number of cases of diabetes that have been diagnosed.
“North America to hold a significant share in the market”
North America held a significant share of the global drug delivery devices market. The main reasons for this region’s market dominance include the existence of important market participants, highly developed healthcare infrastructure and spending, and strategic partnerships. Along with this, it is predicted that throughout the forecast period, the prevalence of chronic diseases in the U.S. and a growing emphasis on preventative care will fuel market expansion in this region. Because of the increasing prevalence of chronic diseases like cancer and HIV, among others, the number of product launches, and the increasing number of initiatives by important market players, the United States (US) market for drug delivery devices is predicted to expand significantly during the study period. For instance, in Feb 2022 the generic Apokyn (apomorphine hydrochloride injection) drug cartridges received approval from the US Food and Drug Administration to treat hypomobility episodes brought on by advanced Parkinson’s disease. As a result, it is anticipated that during the projected period, the rising number of chronic diseases and product launches in the nation will both expand at a high CAGR.
Reasons to buy this report:
Customization Options:
The global drug delivery devices market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Drug Delivery Devices Market
6. Drug Delivery Devices Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Type
8. Market Insights By Technology
9. Market Insights By Application
10. Market Insights By Region
11. Drug Delivery Devices Market Dynamics
12. Drug Delivery Devices Market Opportunities
13. Drug Delivery Devices Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Research Methodology for the Drug Delivery Devices Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global drug delivery devices market were the three major steps undertaken to create and analyze the adoption of drug delivery devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global drug delivery devices market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the drug delivery devices market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the drug delivery devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, technology, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the drug delivery devices market. Further, we conducted factor analysis using dependent and independent variables such as type, technology, and applications of drug delivery devices. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the drug delivery devices market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global drug delivery devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global drug delivery devices market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, technology, and application in the global drug delivery devices market.
The main objective of the Global Drug Delivery Devices Market Study
The current & future market trends of the global drug delivery devices market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Customers who bought this item also bought
Antibiotic Resistance Market: Current Analysis and Forecast (2024-2032)
Emphasis on Disease Type (Urinary Tract Infections, Intra-Abdominal Infections, Blood Stream Infections, Clostridium Difficile Infections, And Others); Pathogen Type (Acinetobacter baumannii, Pseudomonas aeruginosa, Staphylococcus aureus, Streptococcus pneumoniae, and Others); Drug Class (Oxazolidinones, Lipoglycopeptides, Tetracyclines, and Others); and Region/Country
October 8, 2024
