North America to Dominate Drug Delivery Devices Market During Forecast Period
Rising prevalence of chronic
diseases is expected to drive the growth of global drug delivery devices market
According
to TechSci Research report, “Global Drug
Delivery Devices Market By Route of Administration (Oral Drug Delivery,
Injectable Drug Delivery, Topical Drug Delivery, Ocular Drug Delivery,
Pulmonary Drug Delivery, Others), By Device (Syringes, Inhalers, Patch Pumps,
And Others), By Patient Care Setting (Hospitals, Diagnostic Centers, Ambulatory
Surgery Centers/Clinics, Home Care Settings, Others), By Application (Cancer,
Infectious Diseases, Respiratory Diseases, Diabetes, Others), By Region,
Competition, Forecast & Opportunities, 2025”, global
drug delivery devices market is expected to witness a significant CAGR during
the forecast period. Favorable government regulations all around the world is one of the major factors contributing
to the growth of global drug delivery devices market.
Moreover, growth in the biologics market is expected to bode well for the
growth of global drug delivery devices market through the forecast period. In
addition to this, technological advancements and new product launches are
projected to positively influence the growth of global drug delivery devices
market in the years to come. Also, high growth in the consumption of drugs and
therapeutic pharmaceuticals owing to better nature of treatment associated with
these drugs, is further making headway for the growth of global drug delivery
devices market. However, there are some factors that might act as major
impediments to the growth of global drug delivery devices market including increase
in complications and expertise required in delivering therapeutics and drugs
through these devices.
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Global
drug delivery devices market can be segmented based on route
of administration, device, patient care setting, application, company,
and region. Considering the patient care setting, the market is fragmented into
hospitals, diagnostic centers, ambulatory surgery centers/clinics, home care
settings, and others. Among these, the hospitals segment dominated the global drug
delivery devices market until 2019 and is further anticipated to maintain its
dominance during the forecast period as well. This high growth can be attributed to the
significant number of inpatient and outpatient visits to hospitals and
requirement of large volumes of drugs and their respective delivery devices to accommodate
to the demand of the large patient pool. In terms of route of administration,
the market can be categorized into 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.
Out of these, the injectable drug delivery segment is forecast to register high
growth in the next 5 years which is attributable to growing demand for
biosimilar products, increasing prevalence of chronic diseases (particularly
cancer and diabetes) and CVD, and low cost of devices and manufacturing.
F. Hoffmann-La Roche Ltd, Antares Pharma,
Novartis AG, 3M Company, Sulzer Ltd, Gerresheimer AG, Sanofi S.A., Johnson
& Johnson Services, Inc., Bayer AG, GlaxoSmithKline plc, Novosanis, MEDMIX
SYSTEMS AG, Merck & Co., Inc., Pfizer Inc., Insulet Corporation, OraSure
Technologies, Inc., West Pharmaceutical Services, Inc., SMC Ltd., ViVO Smart
Medical Devices Ltd., Cipla Inc, are among others are the leading
players operating in global drug delivery devices market. The players are
adopting several growth strategies to enhance the market scenario of drug
delivery devices. Other competitive strategies include new technological developments;
mergers & acquisitions; agreements, partnerships, and collaborations; and
expansions to diverse their product portfolio in order to strengthen their
market position.
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“North America is forecast to dominate the global drug delivery devices market
until 2025 on account of high growth in biologics in the pharmaceuticals market.
Furthermore, presence of key market players in the region is further
anticipated to boost the market growth for drug delivery devices over the coming
years. Additionally, Asia-Pacific region is estimated to register high growth
in the years to come which can be attributed to rise in demand for drug
delivery products from the diabetic population.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Global Drug Delivery Devices Market By Route of
Administration (Oral Drug Delivery, Injectable Drug Delivery, Topical Drug
Delivery, Ocular Drug Delivery, Pulmonary Drug Delivery, Others), By Device
(Syringes, Inhalers, Patch Pumps, And Others), By Patient Care Setting
(Hospitals, Diagnostic Centers, Ambulatory Surgery Centers/Clinics, Home Care
Settings, Others), By Application (Cancer, Infectious Diseases, Respiratory
Diseases, Diabetes, Others), By Region, Competition, Forecast &
Opportunities, 2025” has
evaluated the future growth potential of global drug delivery devices market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global drug delivery devices market.
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