Acumen Research and Consulting estimates that global Drug Delivery Devices market is expected to reach the market value of around US$ 2.8 Bn by 2027 and is anticipated to grow at a CAGR of around 6.2% in terms of revenue during the forecast period 2020 – 2027.
Drug delivery devices are the medical devices used to dispose of drugs into human bodies and systems. They are specially designed to dispatch specific drugs in accordance with different techniques of administration. These devices are used for therapeutic and recovery therapies.
The report provides analysis of global Drug Delivery Devices market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
Increase the budget for drug discovery, growing consumer demand for drug delivery devices and expanded policy support for research and development, push the global market for drug delivery devices. In addition, the market for medicines is expected to be driven by an increase in prevalence of diabetic medicines, leading to hyperglycemia. In order to promote autonomy of patients, it is predicted that the demand will expand in the near future with an increase in the number of patients who favor the use of modern medication delivery systems. In the next few years the market of drugs delivery devices is expected to be restrained by high research and development and equipment costs, high maintenance costs and introduction of alternative therapy in developed countries.
North America held significant market share due to growing use of medications in health care facilities, availability and accessibility of reimbursements for the majority of the population, increasing prevails of chronic disease (diabetes and cancer), increasing geriatric population, rising awareness of drug metabolism, and increased patient preference, Other factors that are driving market growth include innovation and the development of drug delivery solutions, technology developments, new and innovative product launches and pain reduction.
Besides, the production of innovative drug supply solutions is likely to be a predominant trend in the market. The non-invasive drug delivery mode is now ready to compete in conventional oral and injection pathways through medical device progress and certain methods of transdermal delivery. The adherence of patients by non-invasive interventions was shown to be slightly higher due to reduced medication-related pain and thus these strategies were viewed as preferring drugs. Owing to the increasing growth and advancement on the market as well as the use of injectable medication delivery methods, medical device firms will also benefit greatly from the introduction of new advanced devices.
The market research study on “Drug Delivery Devices Market (Drug Delivery Devices Market By Route of Administration: Inhalation, Topical, Injection, Transmucosal; Drug Delivery Devices Market By Patient Care Setting: Diagnostic Centers, Home Care Settings, Hospitals, Ambulatory Surgery Centers, Others; Drug Delivery Devices Market By Application: Infectious Diseases, Cancer, Respiratory Diseases, Cardiovascular Diseases, Central Nervous System Disorders, Diabetes, Autoimmune Diseases, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Drug Delivery Devices market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Drug Delivery Devices market size, and segment markets by type, application, and geography along with the information on companies operating in the market. The Drug Delivery Devices market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global Drug Delivery Devices market is segmented as below:
Drug Delivery Devices Market By Route of Administration
Drug Delivery Devices Market By Patient Care Setting
Home Care Settings
Ambulatory Surgery Centers/Clinics
Drug Delivery Devices Market By Application
Central Nervous System Disorders
Drug Delivery Devices Market By Geography
Middle East & Africa
Key Players and Market Situation
Participants include major global players such B. Braun Melsungen AG, 3M, Abbott Laboratories, Pfizer, Inc., Baxter International Inc., Smith Medical, F. Hoffmann-La Roche Ltd., CareFusion Corporation, and Others.
2018, Gerresheimer AG has announced that it has purchased Sensile Medical and with this transaction has increased its business portfolios. Owing to Sensile's experience in the design and usage of liquid drug delivery systems, this purchase would serve to broaden the technical range of Gerresheimer AG.
Growth in the consumption of drugs and therapeutic pharmaceuticals is a key driver of the market.
Increase in complications and expertise required in delivering drugs.
The market value of drug delivery devices is anticipated to be around US$ 2.8 Bn in 2027.
It is anticipated to grow around 6.2% CAGR amid the forecast period 2020-2027.
The key players operating in drug delivery devices market such as B. Braun Melsungen AG, 3M, Abbott Laboratories, Pfizer, Inc., Baxter International Inc., Smith Medical, F. Hoffmann-La Roche Ltd., CareFusion Corporation, and Others.
Asia Pacific is projected to grow at a fast pace during forecast period 2020-2027.
North America held maximum share in 2019.