Global Drug Delivery Devices Market Size By Drug Delivery Route (Oral Drug Delivery And Injectable Drug Delivery), By End-User (Hospitals And Diagnostic Centers), By Application (Oncology And Infectious Diseases), By Geography Scope And Forecast
Global Drug Delivery Devices Market Size By Drug Delivery Route (Oral Drug Delivery And Injectable Drug Delivery), By End-User (Hospitals And Diagnostic Centers), By Application (Oncology And Infectious Diseases), By Geography Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Drug Delivery Devices Market size was valued at USD 2.13 Billion in 2022 and is projected to reach USD 7.96 Billion by 2030 growing at a CAGR of 16.27% From 2024-2030.
Hey, guess what's driving the growth of the global Drug Delivery Devices Market? It's largely because more and more people are dealing with chronic diseases worldwide. Things like diabetes, heart problems, and even cancer are on the rise, often thanks to our lifestyle choices and not enough exercise. This has pushed the big players in the industry to come up with some really cool new medications and pour money into R&D. All this innovation is really fueling the market for drug-delivery devices. And the best part? These companies are launching products that are not only more effective but also have fewer side effects, which means exciting opportunities are on the horizon!
Global Drug Delivery Devices Market Definition
Drug Delivery Devices are medical devices that are used for delivering medicinal drugs into the patient’s body. Drug Delivery Devices have extensive applications in various medical and therapeutic applications, to improve patients’ conditions. There are many Drug Delivery Devices available in the market such as Prefilled syringes autoinjectors, Infusion pumps, metered dose inhalers (MDIs), nebulizers, nasal sprays, eye droppers, intrauterine devices (IUDs), and many others.
So, how do you get the right medicine to the right place? Well, the doctor or pharmacist picks the best drug delivery device based on the medicine itself and how it needs to work in your body. Take asthma, for instance. A metered-dose inhaler (MDI) is often used because it shoots a measured puff of medicine right into your lungs, bringing quick relief. There are basically four ways to get a drug into your systemyou can swallow it, breathe it in, absorb it through your skin, or get a shot. All drug delivery devices use one of these routes. And using the right device is super important – it can help cut down on side effects and make sure enough of the drug gets to where it needs to go!
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Global Drug Delivery Devices Market Overview
The Drug Delivery Devices Market is really taking off right now, and a lot of that's thanks to what's been happening with the recent pandemic. But it's not just that! Things like more people getting sick with different disorders, new medicines coming out, and all the cool research and development that pharmaceutical and biotech companies are doing are also major reasons for the growth of the drug delivery market. Let's face it, with how lifestyles are changing and people not getting enough exercise, our immunity isn't what it used to be. That makes us more likely to catch infections, get hit by pathogens, and develop those lifestyle-related issues. Plus, we're seeing more and more cases of diabetes, cardiovascular diseases, cancer, and a whole bunch of other chronic conditions popping up all over the world.
So, the push for better drug delivery is really heating up, which means we need more Drug Delivery Devices – and not just any devices, but innovative ones that can really boost how well drugs work. Pharma and biotech companies are pouring money into R&D to create these next-gen Drug Delivery Devices, aiming for maximum effectiveness with minimal side effects. The thing is, all that research is expensive, and getting these devices approved by the government is no walk in the park. These hurdles could slow things down. The medical world is known for having some of the toughest rules out there! While these rules are vital to keep patients safe, they definitely put a damper on how fast the market can grow.
Global Drug Delivery Devices Market Segmentation Analysis
The Global Drug Delivery Devices Market is segmented on the basis of Drug Delivery Route, End-User, Application, and Geography.
Drug Delivery Devices Market, By Drug Delivery Route
Oral Drug Delivery
Injectable Drug Delivery
Topical Drug Delivery
Ocular Drug Delivery
Pulmonary Drug Delivery
Others
Okay, so when we look at how drugs are delivered, we can break the market down by delivery route, right? We're talking about things like oral drug delivery, injectable drug delivery, topical drug delivery, ocular drug delivery, pulmonary drug delivery, and a few others. Turns out, swallowing pills – that's the oral route – is the most popular! People like it because it's easier, and let's face it, nobody really enjoys getting shots. Plus, there are just more options for pills and liquids because it's simpler to get the drugs into your system that way. Think about itoral meds are generally cheaper to develop, cause fewer nasty side effects, and are usually pretty safe, which is a win-win for everyone.
Drug Delivery Devices Market, By End-User
Hospitals
Diagnostic Centers
Clinics
Home care settings
Others
Based on End-Users, Hospitals, Diagnostic Centers, Clinics, Home Care Settings, And Others are the segments in the Drug Delivery Devices Market. The hospital segment is estimated to have the largest market share because of increasing hospital admissions due to various chronic conditions. With the growing prevalence of disorders, the reliance on hospitals is increasing rapidly which has allowed the segment to generate the highest revenue during the forecast period.
Drug Delivery Devices Market, By Application
Oncology
Infectious diseases
Respiratory diseases
Diabetes
Cardiovascular diseases
Autoimmune diseases
Neurology
Others
Based on Application, the market is bifurcated into Oncology, Infectious Diseases, Respiratory Diseases, Diabetes, Cardiovascular Diseases, Autoimmune Diseases, Neurology, And Others. The diabetes segment generates the highest revenue during the forecast period because of various Drug Delivery Devices used to manage the condition. Diabetes includes various insulin delivery systems, such as subcutaneous insulin injections and insulin pens. Lack of exercise and improper diet are contributing to the growing prevalence of diabetes, thus increasing the demand for drug-delivery devices for diabetes.
Drug Delivery Devices Market, By Geography
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
On the basis of Geography, the Global Drug Delivery Devices Market is classified into North America, Europe, Asia Pacific, and Rest of the world.In our regional analysis, the North American region dominated the global Drug Delivery Devices Market because of its established healthcare sector and higher awareness of medication and Drug Delivery Devices. The North American region is also quick to adopt innovative medical devices as the key players in the region actively promote R&D activities. The North American region is also highly regulated which ensures the delivery of products that are safe to use and efficient.
Key Players
Hey, looking for the lowdown on the global drug delivery devices market? This study report's got you covered! It dives deep into the global scene, focusing on the big players. We're talking Pfizer Inc, Johnson & Johnson Services Inc, F. Hoffmann-La Roche Ltd, Novartis AG, BD, Bayer AG, uniQure NV, and Sibiono GeneTech Co Ltd – they're the heavy hitters. You'll get the inside scoop with company overviews, position analysis, their reach across different regions and industries, and even a cool ACE matrix for a competitive breakdown. Plus, we've got a thorough analysis of how these players are doing financially in the market.
Key Developments
In January 2020, Novartis AG invested in a company named, Credence MedSystems to expand its presence in the Drug Delivery Devices Market.
In November 2020, Pfizer Inc collaborated with the company named Croda International PLC to support Pfizer’s COVID-19 vaccine in terms of Drug Delivery Devices.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Drug Delivery Devices Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Drug Delivery Devices Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Pfizer Inc, Johnson & Johnson Services Inc, F. Hoffmann-La Roche Ltd, Novartis AG, BD, Bayer AG, uniQure NV, and Sibiono GeneTech Co Ltd
SEGMENTS COVERED
By Drug Delivery Route, By End-User, By Application, and By Geography.
CUSTOMIZATION SCOPE
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.
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