Drug delivery systems are technologies that transport drugs into or around the body. These technologies include the method of administration, such as a pill that is swallowed or an injected vaccine. 

In 2021, the global drug delivery devices market was worth $239.2 billion. It is expected to reach $340.45 billion by 2030, representing a 7.1% CAGR over the forecast period of 2021-2030. North America will have the largest revenue share in the industry in 2020.

Modern pharmaceutical companies are developing novel drug delivery systems and product combinations to meet diverse needs, such as allowing patients to self-monitor some prescriptions at home, which can help them stick to prescribed treatments. As per the American Heart Association, heart disease (CVD) is responsible for roughly 800,000 deaths in the United States. CVD accounts for 31% of all global fatalities. The cost of managing CVDs will be USD 1,044 billion by 2030.

Market Dynamics

Drivers

The expansion of the drug delivery devices market will be significantly influenced by the rising prevalence of chronic diseases, technological advancements, and the expansion of the biologics market. There has been an increasing adoption of and tendency toward sophisticated medication delivery systems since they assist in delivering the drugs that are helpful for the targeted population to recover more quickly. Additionally, a growing global population with cancer, respiratory conditions, and diabetes may encourage the use of drug-delivery devices and fuel the market.

Additionally, the prevalence of chronic illnesses like diabetes, CVDs, cancer, and COPD is increasing, driving up demand for drug-delivery devices. The creation of numerous medications that effectively treat chronic diseases and the quick development of biopharmaceuticals have driven global demand for drug delivery devices.

Restraints

The market for drug delivery devices is being held back by a lack of standardization, strict drug approval requirements, the danger of nanoparticles entering the brain, a lack of trained professionals to use some of the devices, and the higher cost of highly sophisticated devices. 

Opportunity 

Over the forecast period, market participants will benefit from rising air pollution levels, increased public-private funding for focused research initiatives, and an increase in new product creation due to global technological advancements.

Market Segmentation

By Route of Administration

In 2022, the oral category held the greatest market share. There are many different dosage forms available for the oral medication delivery system, including tablets, capsules, syrups, solutions, and suspensions. In terms of security, simplicity, cost, and medication stability, oral administration is the preferable method. This market will increase as a result of factors like the rising prevalence of respiratory illnesses and the technological development of inhalation delivery devices like nebulizers and inhalers.

By Application

In 2022, the cancer sector held the greatest market share due to the growing incidence of cancer in the population. Global cancer cases will increase by 47% between 2020 and 2040. Therefore, the main drivers of this market are the rising prevalence of different cancers like breast, womb, lung, and bowel cancer.

By End-User

In 2022, the hospitals segment had a revenue share of almost 29% based on end users. The expansion of this market was facilitated by the increased public and private sector investments in hospital construction. Furthermore, the segment's growth is being further fueled by the rise in hospital admissions.

Regional Analysis 

In 2022, North America was the biggest market holder. This is due to the rising rate of many chronic diseases in the US, including diabetes, cancer, and CVDs. Additionally, the US's rising healthcare costs and increased health consciousness have accelerated the market's expansion. The expansion of drug delivery devices in North America has been considerably aided by the growing awareness of the availability of numerous cutting-edge drug delivery systems, such as wearable injectors and pen injectors.

Asia Pacific will expand rapidly over the forecast period. This is due to the increasing rate of different diseases as a result of the population's changing consumption patterns and unhealthful eating habits.

Key Players 

· Becton Dickinson

· Bayer AG

· Johnson & Johnson Services Inc

· uniQure N.V

· Pfizer, Inc

· Sulzer Ltd.

· Novartis AG

· Shenzhen (SiBiono)

· 3M

· Medtronic Plc

· Consort Medical plc (Recipharm Group)

· F. Hoffmann-La Roche

· GlaxoSmithKline plc

· GeneTech Company. Ltd. (Hubei Tongji Benda Ebei Pharma)

· AstraZeneca PLC

· Antares Pharma, Inc

· Boehringer Ingelheim group

· Insulet Corporation

In 2021, the global drug delivery devices market was worth $239.2 billion. It is expected to reach $340.45 billion by 2030, representing a 7.1% CAGR over the forecast period of 2021-2030. The market for drug delivery devices is driven by the rising incidence of chronic diseases, the expansion of the biologics industry, technological advancements, and new product introductions.

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