Press Release

Drug Delivery Devices Market to Grow at 7.80% CAGR through 2029

The rising prevalence of chronic diseases and technological advancements is expected to drive the Global Drug Delivery Devices Market growth in the forecast period, 2025-2029.

 

According to TechSci Research report, “Drug Delivery Devices Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2019-2029F”, the Global Drug Delivery Devices Market stood at USD 240.62 Billion in 2023 and is anticipated to project steady growth in the forecast period with a CAGR of 7.80% through 2029. The Global Drug Delivery Devices Market is primarily driven by factors such as the increasing prevalence of chronic diseases, growing demand for targeted and controlled drug delivery systems, advancements in biotechnology and nanotechnology, expanding geriatric population requiring long-term medication, and the need for more convenient and patient-friendly drug administration methods.

                                                                                             

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Technological advancements in medical device manufacturing have led to the development of innovative drug delivery devices that ensure precise administration of medicine to patients. The increasing burden of chronic diseases such as diabetes, cardiovascular diseases, cancer, and chronic obstructive pulmonary disease (COPD) is driving the demand for drug delivery devices. The rapid growth of the biopharmaceutical industry and the development of effective drugs for chronic diseases further contribute to the demand for drug delivery devices globally. The biopharmaceutical industry's growth is resulting in the development of various new drugs for the treatment of different diseases. Increased investments by drug manufacturers in clinical trials and the active role played by regulatory authorities like the FDA and EMA are boosting the development of innovative drugs. The introduction of new drugs to the market sometimes requires innovative delivery devices, thereby increasing the need for various drug delivery devices.

The market's growth is augmented by the presence of several key players and strategic initiatives such as acquisitions, mergers, collaborations, and new product launches. Furthermore, increased investments in marketing activities by market players positively impact market growth. The rising prevalence of chronic diseases, technological advancements, and the growth of the biologics market are significant factors expected to drive the development of the drug delivery devices market. Advanced drug delivery devices are increasingly adopted due to their ability to deliver drugs more effectively, leading to faster recovery among the targeted population.

Moreover, the growing number of cancer, respiratory disease, and diabetic patients worldwide is likely to promote the adoption of drug delivery devices and drive overall market growth. According to data published by the International Agency for Research on Cancer in 2020, globally, 1 in 5 people develop cancer during their lifetime, with breast, colorectal, lung, cervical, and thyroid cancers being common among women, and lung and prostate cancer being the most common among men. This rising burden of cancer further increases the adoption of drug delivery devices, contributing significantly to market growth. Technological advancements in drug delivery devices are making them more patient-friendly, accessible, and accurate. Players in the industry are investing heavily in research and development to continuously innovate new technologies and advanced drug delivery devices. For example, in May 2021, Phillips-Medisize launched its Aria Smart Autoinjector platform, featuring advanced technologies such as a modular drug delivery platform supporting various drug formulations and built-in Bluetooth for connectivity to smartphones, tablets, and mobile apps. Additionally, Roche developed a Port Delivery System with ranibizumab (PDS), a drug delivery implant that eliminates the need for frequent eye injections for patients with wet age-related macular degeneration. This PDS drug delivery implant received priority review from the FDA. The active involvement of major players is expected to have a significant impact on market growth. In conclusion, the aforementioned factors are expected to drive market growth.

 

The Global Drug Delivery Devices Market is segmented into application, route of administration, end user, regional distribution, and company.

Based on the route of administration, the market is divided into injectable, topical, ocular, and others. The injectable drug delivery segment is anticipated to experience growth due to technological advancements and increasing demand for biologics. The demand for injectable drug delivery devices is projected to rise, driven by the growing burden of chronic diseases and the benefits and convenience they offer. This, in turn, will lead to an increased demand for self-injectors and contribute to the growth of the biologics market. The introduction of self-injection devices, such as auto-injectors, pen-injectors, and needle-free injectors, has simplified the use of injectable drug delivery (IDD). Patients can now administer drugs at home without the need for medical assistance.

 

Based on region, the North America is projected to dominate the market. The drug delivery devices market in North America is projected to exhibit the highest compound annual growth rate (CAGR) during the forecast period. The United States holds the largest market share in the North American region. Heart disease remains a significant cause of mortality, imposing a substantial burden on individuals, communities, and healthcare systems. Additionally, the increasing prevalence of cancer in the region contributes to the market growth. In the Asia Pacific region, rapid economic growth is expected to drive the fastest growth rate during the forecast period. Moreover, countries like Japan, China, and India have a large patient population, leading to increased adoption of drug delivery devices by various end-users. The growth in the region can be attributed to the widespread use of drug delivery systems in healthcare facilities, favorable reimbursement policies, rising prevalence of chronic diseases such as diabetes and cancer, growing geriatric population, enhanced understanding of drug metabolism, and the preference for individualized and customized therapy, particularly for cancer.

 

Major companies operating in Global Drug Delivery Devices Market are:

  • Pfizer Inc.
  • Novartis AG
  • F Hoffmann-La Roche Ltd.
  • Johnson and Johnson
  • Bayer AG
  • Becton, Dickinson and Company
  • Altaris Capital Partners, LLC
  • Holozymes Inc. (Antares Pharma Inc.)
  • GlaxoSmithKline PLC
  • Teva Pharmaceutical Industries Ltd.

 

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“The growth of the drug delivery devices market is propelled by various factors, including the escalating prevalence of chronic diseases, the expansion of the biologics market, advancements in technology, and the introduction of new products. Additionally, the global outbreak of the coronavirus has led to a sudden surge in the demand for pharmaceutical drugs, particularly for infectious applications. The market growth is anticipated to be driven by the increasing prevalence of chronic diseases and the allocation of government funds. As a result of the high incidence of cancer, significant research and development efforts are being devoted to the development of novel drug delivery systems to improve patient treatment outcomes. The market is also being driven by the adoption of innovative technologies in drug delivery for cancer treatment. Furthermore, the growing need for self-administration of drugs, such as in the case of diabetes, has contributed to the expansion of the needle-free drug delivery devices industry. Pharmaceutical companies are focusing on multiple drug delivery technologies to maximize the advantages and enhance the outcomes of their products. Therefore, the rising prevalence of chronic diseases, leading to increased consumption of therapeutic drugs and therapies, is expected to drive the growth of the drug delivery devices market.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Drug Delivery Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Application (Cancer, Cardiovascular, Diabetes, Infectious Diseases, and Other Applications), By Route of Administration (Injectable, Topical, Ocular, and Others), By End User (Hospitals, Ambulatory Surgical Centers, and Others), By Region and Competition, 2019-2029F”, 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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