At 6.35% CAGR, Drug Delivery Devices Market Size, Share | Global Industry Analysis on Growth, Trends and Opportunity 2020-2025
Pune, Maharashtra, India, August 31 2020 (Wiredrelease) Brandessence Market Research and Consulting Pvt ltd –: Global Drug Delivery Devices Market is valued at USD 1349.59 billion in 2019 and expected to reach USD 2208.52 billion by 2026 with the CAGR of 6.35% over the forecast period.
In its latest report on Drug Delivery Devices Market provides a concise analysis of the recent market trends. The report further includes statistics, market forecasts and revenue estimations, which in addition highlights its status in the competitive domain as well as expansion trends adopted by major industry players.
Growing technological innovation and prevalence of chronic diseases are driving the growth of Global Drug Delivery Devices Market.
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Scope of Global Drug Delivery Devices Market Report–
Drug delivery devices are specialized devices used for delivery of a drug or therapeutic agent by a specific route of administration which is defined as the path by which a drug, fluid, poison, or other substance is taken into the body. These devices are mainly used to reach the drug or medicaments to the site of action through particular way on the basis of disease type, dosage form, target sites etc. These devices help in increasing the activity of drug delivery system by controlling time, dosage form, dose and releasing site of the drugs & action site in the body. Major features of these devices include target specificity, specific therapeutic effect, dose-optimization and high degree of safety.
Global drug delivery devices market report is segmented on the basis of route of administration, application and by regional & country level. Based on route of administration, global drug delivery devices market is classified as oral drug delivery, injectable drug delivery, topical drug delivery, ocular drug delivery, pulmonary drug delivery, nasal drug delivery, transmucosal drug delivery and implantable drug delivery. Based upon application, global drug delivery devices market is classified into cancer, infectious diseases, respiratory diseases, diabetes, cardiovascular diseases, autoimmune diseases, central nervous system disorders and others.
The regions covered in this drug delivery devices market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of drug delivery devices is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Drug Delivery Devices Companies
Some major key players for global drug delivery devices market are,
F. Hoffmann-La Roche Ltd Antares Pharma Novartis AG 3M Gerresheimer AG Sanofi Enable Injections Johnson & Johnson Services Inc Merck & Co. Inc. Bayer AG GlaxoSmithKline Plc. Novosanis MEDMIX SYSTEMS AG Pfizer Inc. Sulzer Ltd Insulet Corporation OraSure Technologies, Inc. West Pharmaceutical Services Inc. SMC Ltd. ViVO Smart Medical Devices Ltd. Others.
Global Drug Delivery Device Market Dynamics–
Drug delivery devices market is growing gradually due to the increasing demand of such devices developed manufacturing technology, growing geriatric population & cancer patients as well as increasing research funding, venture capital and number of startups. Recently, there is a noticeable gap between growing productivity of drugs and R&D spending as productivity of new molecular entities (NMEs) is constantly slow. The NMEs cost is increasing at an average rate of 13.4% per year, whereas success rate of NMEs in clinical trial is about 10% only. The high investment in R&D and low NMEs output have forced many pharmaceutical companies to focus on advanced drug delivery systems due to factors such as R&D spending is much lower in case of developing new formulations. Additionally, present pharmaceutical products have low optimal performance due to low solubility, poor stability and poor targeting effect, for which many new dosage forms and drug delivery systems are developed to optimize clinical efficiency of drugs, decrease toxicity, and improve patient compliance and to extend the life cycle of NMEs. All these factors directly propel the market growth of drug delivery devices.
In case of oral drug delivery, oral sustainable release tablets occupy 61% of share, whereas capsule has 34% of share and suspension acquired 5% of share according to FDA. In case of injectable drug delivery, traditional injectable formulations have share of 90% of injection formulations due to presence of generic products is more than three times compared to new formulations such as liposome, emulsion, microsphere, nanoparticles and implant. All these statistics shows the expanded and developed market of drug delivery devices as entire healthcare industry need these devices for effectiveness of medicines. Medical devices intended for pulmonary and nasal route are popular at present globally. These routes are not only planned for local delivery, as in asthma, but also for fast and accurate delivery of drugs to the systemic circulation and direct delivery to the central nervous systems. However, high cost of maintenance for some devices as well as alternate therapy may hamper the market up to some extent. In spite of that, new technological improvement in nanotechnology and biotechnology can create more future opportunities for the further growth of this market.
Drug Delivery Market Regional Analysis–
North America is expected to dominate the global drug delivery devices market with highest market share due to availability of world class approval systems such as FDA, support & funding from the government in research & development activities as well as physicians preference for drug delivery devices over other therapies in this region. For instance; the American Cancer Society projected that 1,762,450 new cancer cases and 606,880 cancer deaths in the United States in 2019 and for treatment of this disease physicians use varies drug delivery devices which in turn propels the market growth.
Europe is the second largest market for drug delivery devices market due to advantageous government policies supporting healthcare industry, prevalence of chronic diseases such as cancer, HIV etc. and rising awareness on treatment of such diseases in this region. For example, according to WHO; considerable HIV transmission continues across the WHO European region. In 2018, 1,41,552 newly diagnosed HIV cases were reported in 50 of the 53 countries registered in the WHO European Region. This trend is going to increase the demand of the drug delivery device market. The market in Asia-pacific is estimated to have high growth rate due to rise in demand for drug delivery products, increase in incidence of diabetes & chronic diseases and growing awareness of specialized administration drugs among patients in this region.
Key Benefits for Global Drug Delivery Devices Market Report–
Global Drug Delivery Devices Market report covers in depth historical and forecast analysis.
Global Drug Delivery Devices Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Drug Delivery Devices Market report helps to identify opportunities in market place.
Global Drug Delivery Devices Market report covers extensive analysis of emerging trends and competitive landscape.
Global Drug Delivery Devices Market Segmentation:–
By Route of Administration: Oral drug delivery, Injectable drug delivery, Topical drug delivery, Ocular drug delivery, Pulmonary drug delivery, Nasal drug delivery, Transmucosal drug delivery, Implantable drug delivery
By Application: Cancer, Infectious diseases, Respiratory diseases, Diabetes, Cardiovascular diseases, Autoimmune diseases, Central nervous system disorders, Others
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
Table of Content
1. Chapter – Report Methodology
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description
2. Chapter – Global Drug Delivery Devices Market Overview: Qualitative Analysis
2.1. Market Introduction
2.2. Executive Summary
2.3. Global Drug Delivery Devices Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Drug Delivery Devices Market: Trends
2.8. Porter’s Five Forces Analysis
2.9. Market Attractiveness Analysis
3. Chapter – Global Drug Delivery Devices Market Overview: Quantitative Analysis
4. Chapter – Global Drug Delivery Devices Market Analysis: Segmentation By Type
5. Chapter – Global Drug Delivery Devices Market Analysis: Segmentation By Application
Continued….
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