Drug delivery devices are specialized equipment designed for a particular route of administering drugs or therapeutic materials. During medical operations, the gadgets may be utilized once or more. Drug delivery systems need help in the establishment and application of testing protocols, as well as regulatory strategy, design, and material issues. Patients and healthcare professionals are using medication delivery systems more frequently as a result of the rising rate of diabetic patients, as well as the increasing rate of cancer and respiratory illnesses. Innovative drug delivery systems have been created due to technological advancements in the production of medical devices, ensuring that the patient receives the proper dosage of medication at the appropriate time.

In 2021, the drug delivery devices market was USD 239.2 billion, and it will reach USD 340.45 billion by 2030, growing at a 7.1% CAGR during the forecast period.

Market Dynamics

Drivers

The rising prevalence of chronic diseases, technical developments, and the expansion of the biologics industry will influence the development of the drug delivery devices market. There has been an increasing adoption of and tendency toward sophisticated medication delivery devices 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 medication delivery systems and fuel the market. 

 Women develop thyroid, breast, colorectal, lung, and cervical cancers than men. In contrast, lung and prostate cancer affects more men than other types of cancer, making for almost one-third of all cancers in males. Drug delivery devices are increasingly being used due to the rising incidence of cancer, which would considerably aid the market's expansion over the projection period.

Restraints

The market for medication delivery devices is being held back by a lack of standardization, tight drug approval requirements, the danger of nanoparticles entering the brain, a lack of trained specialists to utilize some devices, and the greater cost of technologically advanced devices.

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 increased public and private sector investments in hospital construction facilitated the expansion of this market. Furthermore, the segment's growth is further fueled by the rise in hospital admissions.

Regional Analysis 

In 2022, North America was the biggest market holder due to the increasing 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 growing awareness of the availability of numerous cutting-edge drug delivery systems, such as wearable injectors and pen injectors has considerably aided the expansion of drug delivery devices in North America.

Asia Pacific will expand rapidly due to the increasing rate of diseases due to the population's changing consumption patterns and unhealthy 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 drug delivery devices market was USD 239.2 billion, and it will reach USD 340.45 billion by 2030, growing at a 7.1% CAGR during the forecast period. The market for drug delivery devices is rising due to the rising rate of chronic disorders, the expansion of the biologics industry, technological advancements, and new product introductions.