Market Projections (2024-2032):

According to a new report by IMIR Market Research on global drug delivery devices market size was valued at USD 284.49 billion in 2023 and it is predicted to hit USD 437.57 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 4.90% during the forecast period 2024 to 2032. In 2022, North America market has held highest revenue share of over 38%.

The industry is anticipated to grow overall because to the increasing usage of cutting-edge technology to efficiently deliver medications to the proper place. The adoption of these drug delivery devices also reduces the risk of unfavourable outcomes by improving medication administration at the intended area. This reduces the dosage and any negative effects that may be related. Because there are less active pharmaceutical chemicals used, this also contributes to a lower overall product price. R&D in the field is anticipated to increase in response to the growing need for innovative medication delivery devices.

Major players in the market are always creating strategic alliances to develop cutting edge technology for a variety of applications.

Specifically for drug delivery and pharmaceutical contact applications, Victrex plc, a company well-known for its cutting-edge PEEK biomaterial solutions, developed the VICTREX PC101 grade in October 2023. In keeping with the growing trend of deploying drug delivery systems in home-care settings, the launch of this product will increase patient access to these cutting-edge technologies.

Different companies are creating patient-friendly drug delivery systems in response to the growing demand, and other market participants are purchasing these businesses to broaden their portfolio. By purchasing Aveva Drug Deliver Services Inc. in April 2023, DifGen Pharmaceuticals bolstered its position as a provider of complex medication dosage forms. By strategically locating itself in the US, DifGen is able to increase its development and manufacturing capabilities while simultaneously strengthening its capabilities.

Medical professionals are always researching how to improve the accuracy, patient-friendliness, and accessibility of drug delivery devices using technology. Aggressive drug delivery devices and cutting-edge technology are always being researched by industry participants. One company working to improve the safety and effectiveness of medication delivery systems is AstraZeneca, which is creating next-generation technology. By creating medicines that are more convenient, easier to use, and require fewer dosages than previously, they are focusing on enhancing the patient experience. Furthermore, recent technologies are always being developed and applied by the pharmaceutical businesses to further the design and development of contemporary drug-providing systems. The development of novel drug concepts like target-based drug discovery and the visualisation of drug interactions at the molecular level have been facilitated by computational research. The industry wants to enhance the way that patients experience medications by furthering the science of drug administration.

It is anticipated that some obstacles may hinder the growth of the market despite the benefits and innovations linked to these medication delivery systems. Its inefficiency in delivering drugs that are poorly soluble poses the biggest problem for these drug delivery devices. It is also anticipated that further obstacles to the bioavailability of poorly soluble tablets may hinder the market's expansion. Furthermore, uncontrollably released medications on the infection site by these pharmacological devices may result in additional side effects like allergies and infections.

Market Drivers:

Rising Prevalence of Diseases

• The increasing occurrence of both acute and chronic illnesses and infections worldwide is a primary driver of the market value rise. More than 20 million people in the nation currently have diabetes, and by 2025, that number is expected to rise to almost 57 million, according to a recent estimate. Within the previously stated estimated timeframe, this will further propel the market and result in the expansion of the drug delivery devices market.

Research and Development Proficiencies

• Increased investment in R&D capabilities, particularly in developed and developing nations, with respect to medical devices and instruments, will further open up profitable growth prospects for the industry. Additionally supporting the market growth rate is the research and development expertise being used to live viruses in order to create medications.

Market Trends:

Topical Drug Delivery Devices Segment is Estimated to Witness a Healthy Growth Over the Forecast Period

• Drugs are transported by a topical product to a local target site on the skin, where they are subsequently cleared via diffusion, metabolism, and dermal circulation to reach deeper tissues and the rest of the body.
• Two main drivers of the segment's growth are the creation of new products and the growing execution of strategic projects. Scientists at Stanford University and the University of North Carolina at Chapel Hill (UNC), for example, created a 3D-printed vaccine patch in March 2021 that they assert offers better protection than a standard vaccination shot. The creation of these innovative goods is encouraging the use of drug delivery devices, which is fostering market expansion.
• Additionally, there are a number of cancer-related applications for topical medication delivery, which is anticipated to accelerate market expansion. For example, a Frontiers article from October 2022 states that topical drug delivery via the skin can be used to deliver drugs locally in skin cancer cases because it has several advantages over oral administration, including avoiding issues with pH, stomach emptying, enzyme deactivation, and first-pass metabolism.
• Numerous industry participants are actively executing strategic initiatives, which in turn facilitates market expansion. For example, the Twirla (levonorgestrel and ethinyl estradiol) transdermal device, a novel non-daily, non-invasive contraceptive patch, was commercially introduced by women's healthcare business Agile Therapeutics, Inc. in December 2020. Additionally, Vektor Pharma released a generic version of the Neupro patch (rotigotine), a transdermal patch that indicated against Parkinson's disease symptoms, in June 2020.

Connected Devices and Telemedicine

• Sensors and networking capabilities allow smart drug delivery systems to capture data in real time, which is useful for tracking physiological data and learning about medication adherence and consumption trends. By empowering patients and facilitating prompt action by healthcare professionals, this connectivity enables better tracking of drug adherence through reminders and refill alerts. Furthermore, by providing virtual consultations for medication changes and problem solving, telemedicine platforms enable improved contact between patients and doctors. Combining telemedicine with connected devices creates a synergistic effect that optimises resource allocation, improves treatment outcomes, and eases the strain on patients.

Market Restraining Factors:

High Cost Associated with the Research and Development Proficiencies

• High-tech medical device development requires significant investments in clinical studies, technology, and regulatory approvals; these costs are reflected in the devices' final costs. Likewise, the production expenses of advanced features-rich devices are frequently greater, which can restrict their availability in areas where healthcare funding is limited. Patients in low-resource situations who would find it difficult to afford such devices are impacted, leading to unequal access to therapy. Not only that, but this exorbitant price may limit market penetration and growth prospects for novel medical technology. The industry is looking into ways to improve accessibility and affordability for patients globally, including streamlining R&D procedures, developing affordable substitutes, and putting government support programmes into place.

Key Industry Developments:

In July 2021, Johnson & Johnson received FDA approval for DARZALEX (daratumumab), a subcutaneous formulation that reduces the treatment time for multiple myeloma indications.

In December 2020, Pfizer, Inc. received FDA approval for BRAFTOVI (encorafenib) plus combination with cetuximab for the treatment of patients with brafv600e-mutant metastatic colorectal cancer (CRC) who have undergone prior therapy.

In November 2020, GlaxoSmithKline plc partnered with IDEAYA to enter the field of Synthetic Lethality, an emerging field in oncology; programs MAT2A, Pol Theta, and Werner Helicase programs, which are part of it, are projected to reach clinical trials in the next three years.

Report Coverage:

The report will cover the qualitative and quantitative data on the global Drug Delivery Devices Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

By Route of Administration (Oral, Inhalation, Transdermal, Injectable, Ocular, Nasal, Topical, Others), By Application (Oncology, Infectious Diseases, Respiratory Diseases, Diabetes, Cardiovascular Diseases, Autoimmune Diseases, Central Nervous System Disorders, Others), By End-use (Hospitals, Diagnostic Centres, Ambulatory Surgery Centres/Clinics, Home Care Settings, Others)

Report Scope and Segmentations:

Drug Delivery Devices Market Players Analysis:

• Pfizer, Inc.
• Johnson & Johnson
• Roche
• Novartis 
• Bayer 
• uniQure N.V.
• Sibiono GeneTech Co. Ltd
• Novartis AG
• Becton, Dickinson and Company
• Altaris
• Holozymes Inc. (Antares Pharma Inc.)
• GlaxoSmithKline PLC
• Teva Pharmaceutical Industries Ltd
• Biocorp
• Merck KGaA
• West Pharmaceutical Services Inc.
• Molex (Philips Medisize)
• Elcam Medical
• And More.

Drug Delivery Devices Market Segmentation Analysis:

By Route of Administration

• Oral
• Inhalation
• Transdermal
• Injectable
• Ocular
• Nasal
• Topical
• Others

By Application

• Oncology
• Infectious Diseases
• Respiratory Diseases
• Diabetes
• Cardiovascular Diseases
• Autoimmune Diseases
• Central Nervous System Disorders
• Others

By End-use

• Hospitals
• Diagnostic Centres
• Ambulatory Surgery Centres/Clinics
• Home Care Settings
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, ASEAN, Rest of Asia-Pacific)
• LAMEA (Latin America, Middle East, Africa)

The report also helps in understanding Global Drug Delivery Devices Market dynamics, structure by analyzing the market segments, and project the Global Drug Delivery Devices Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Drug Delivery Devices Market make the report investor’s guide.

Regional Analysis:

North America accounted for the highest xx% market share in terms of revenue in the Drug Delivery Devices market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Drug Delivery Devices. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Drug Delivery Devices companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Drug Delivery Devices Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Drug Delivery Devices Market Report is also available for below Regions and Country Please Ask for that-

North America

• U.S
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions:

• How much the global Drug Delivery Devices Market valued?
• Which region has the largest share in 2024 for the global Drug Delivery Devices Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Drug Delivery Devices Market:

• Historic year: 2019- 2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Drug Delivery Devices Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: