Drug Delivery Devices Market - Industry Size, Share, Growth

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. When providing pharmacological compounds that have therapeutic benefits in humans or animals, drug delivery devices are a crucial component. 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. Moreover, in March 2021 researchers from Stanford University and the University of North Carolina at Chapel Hill (UNC) created a 3D-printed vaccine patch that they claim offers superior protection to a conventional vaccine shot. The creation of such innovative items is encouraging the use of medicine delivery products and fosters market expansion.

The Drug Delivery Devices Market is expected to grow at a steady rate of around 6% owing to the rising incidence of chronic and acute diseases, rising growth of biologics, rising technological advancements related to drug delivery devices, rising number of diabetes patients, and rising prevalence of cancer patients. Moreover, a large number of products available in the drug delivery industry are further creating opportunities for the key market players. For instance, Coalesce Product Development Limited, a UK-based drug delivery device development business that Novartis Sandoz acquired, is creating a variety of inhalation devices. This comprises updated models of breath-actuated inhalers, pre-metered dry powder inhalers, and pressurized metered dose inhalers.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=34810

Based on type, the market is segmented into injectable devices, inhalation devices, and others. The injectable segment witnessed a substantial CAGR during the 2021 period owing to the increasing demand for 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.

Based on the 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 all 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 witness extensive growth

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.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the drug delivery devices market are Pfizer, Inc.; Johnson & Johnson Services, Inc.; F. Hoffmann-La Roche, Ltd.; Novartis AG; BD; Bayer AG; uniQure N.V.; SIBIONO; GSK plc.; Amgen Inc.

“Global Drug Delivery Devices Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

Market Segmentation:

1. By Type (Injectable Devices, Inhalation Devices, and Others)

2. By Technology (Bluetooth, NFC, and Others)

3. By Application (Oncology, Infectious Diseases, Respiratory Diseases, Diabetes, and Others)

4. By Region (North America, Europe, Asia-Pacific, Rest of the World)

5. By Company (Pfizer, Inc.; Johnson & Johnson Services, Inc.; F. Hoffmann-La Roche, Ltd.; Novartis AG; BD; Bayer AG; uniQure N.V.; SIBIONO; GSK plc.; Amgen Inc.)

Key questions answered in the study:

1. What are the current and future trends of the global drug delivery devices industry?

2. How the industry has been evolving in terms of type, technology, and application?

3. How the competition has been shaping across the countries followed by their comparative factorial indexing?

4. What are the key growth drivers and challenges for the global drug delivery devices industry?

5. What is the customer orientation, purchase behavior, and expectations from the global all-terrain vehicle suppliers across various region and countries?