Meticulous Research®—a leading market research company, published a research report titled, ‘Drug Delivery Devices Market by Product (Nebulizer, Inhaler, Syringe, Transdermal Patch, Drop Bottle, Pen Injector, Implantable Device), Therapeutic Area (Diabetes, Infectious, Oncology, Respiratory, Cardiovascular, Autoimmune) – Global Forecast to 2030’
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According to this latest publication from Meticulous Research®, the drug delivery devices market is projected to reach $24.65 billion by 2030, at a CAGR of 7.6% from 2023 to 2030. The growth of the drug delivery devices market is driven by several factors, including the increasing prevalence of chronic diseases, advancements in disease treatment approaches, growing R&D expenditure in pharmaceutical and biotechnology industries, and the increasing demand for advanced drug delivery systems. Factors such as emerging economies and technological advancements in drug delivery systems are a few of the opportunities that would help grow the market in the future.
Factors such as biocompatibility and acceptability could be considered a challenge for the drug delivery devices market. However, manufacturing defects and the lack of awareness and education about newer drug delivery systems restrain the growth of the market.
Key Players
The key players profiled in the drug delivery devices market report are Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), GMP Laboratories of America, Inc. (U.S.), Gemini Pharmaceuticals, Inc. (U.S.), Resyca GmbH (Netherlands), Novartis International AG (Switzerland), Becton, Dickinson, and Company (U.S.), Lifelong Meditech Private Limited (India), Bright Pharma Caps, Inc. (U.S.), Gerresheimer AG (Germany), West Pharmaceutical Services, Inc. (U.S.), Eclam Medical ACS Ltd. (Israel), SMC Ltd. (U.S.), Owen Mumford Limited (U.K.), Haselmeier GmbH (Germany), SHL Medical AG (Switzerland), Ypsomed Holding AG (Switzerland), AptarGroup, Inc. (U.S.), Kindeva Drug Delivery L.P. (U.S.), Nemera Group (France), and Recipharm AB (Sweden).
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The drug delivery devices market is segmented by Product (Nasal & Pulmonary Drug Delivery Systems [Nebulizers {Jet Nebulizers, Ultrasonic Nebulizers, Mesh Nebulizers}, Empty Inhalers {Metered-Dose Inhalers, Soft Mist Inhalers, Dry Powder Inhalers}, Steamers, Nasal Sprays], Parenteral Drug Delivery Systems [Syringes {Conventional Syringes, Safety Syringes, Prefilled Syringes}, Pen Injectors, Autoinjectors, Needle Free Injectors, Wearable Injectors/On-Body Drug Delivery System], Topical & Transdermal Drug Delivery Systems [Transdermal Patches, Wearable Patches], Drop Bottle Drug Delivery Systems [Nasal Drop Bottles, Ocular Drop Bottles, Cochlear Drop Bottles], Implantable Drug Delivery Devices [Inserts, Pumps, Drug Eluting Stents], Insulin Pumps, Intrauterine Devices, Infusion Pumps), Therapeutic Areas (Diabetes, Infectious Diseases, Oncology, Cardiovascular Diseases, Respiratory Diseases, Neurological Disorders, Autoimmune Diseases) and Geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.
Among products, in 2023, the parenteral drug delivery systems segment is expected to account for the largest share of the market. The large share of the segment is attributed to the increasing prevalence of chronic diseases, first-pass metabolism avoidance, and easy delivery of drugs at the subcutaneous, intradermal, intramuscular, and intravenous levels due to devices like autoinjectors, syringes, and wearable patches, among others, better bioavailability, and the immediate onset of action of the drug.
Among therapeutic areas, the diabetes segment is expected to account for the largest share of the market. The large share of the segment is attributed to the variety of available devices to manage insulin levels, the increasing prevalence of chronic diseases, and the increasing consumer awareness regarding the monitoring of chronic diseases.
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Key questions answered in the report:
• Which are the high-growth market segments in terms of drug delivery devices by product, therapeutic area, and geography?
• What was the historical market for drug delivery devices across the globe?
• What are the market forecasts and estimates for the period 2023–2030?
• What are the major drivers, restraints, opportunities, and challenges in the drug delivery devices market?
• Who are the major players operating in the drug delivery devices market?
• What is the competitive landscape like, and who are the leaders in the drug delivery devices market?
• What are the recent developments in the drug delivery devices market?
• What are the different strategies adopted by the major players in the drug delivery devices market?
• What are the geographical trends and high-growth regions/countries?
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