Global Drug Delivery Devices Market is poised to grow at 8.1% till 2024
According to Data Bridge Market Research new Market report “Global Drug Delivery Devices Market, By Route of Administration (Oral, Injectable, Topical, Pulmonary, Nasal, Ocular, Implantable, Transmucosal), End-User (Hospitals, Clinics, Home Care Settings), Distribution Channel (Direct Tenders,Hospital Pharmacies), Geography (North America, Europe, Asia-Pacific, South America, Middle East Africa) – Trends and Forecast To 2024”, is estimated at USD 950.0 billion in 2015 and is projected to reach USD 1,625.1 billion by 2022, at a CAGR of 8.0% during the forecast period from 2016 to 2022.
Some of the major factors contributing to the growth of the drug delivery market are rising prevalence of chronic diseases, growth of biologics, new product launches, drug innovation, technological advancements, and decrease in the level of pain. Technological advancements in the infusion pumps could create new opportunities in the global drug delivery market.
According to CDC heart disease is one of the leading causes of death in the United States. In 2014, the toll due to the coronary disease went to 3.6 lakhs. The rising number of deaths will give a boost to the global drug delivery market in the coming years. In Aug 2016, Novartis invested €100m to boost mAb(monoclonal antibodies) production 70% at French biologics site. The monoclonal antibodies are used in the treatment of cancer, inflammatory diseases etc.
Drug Delivery Devices Market – Market Segmentation:
The Global Drug Delivery Devices Market is segmented based on product type, distribution, end-user and geography.
On the basis of product the market is segmented into oral, injectable, topical, pulmonary, nasal, ocular, implantable and transmucosal. Oral drug is segmented into solid drug, semi-solid drug and liquid drug. The Injectable drug delivery segment is further segmented into devices and formulations. Pulmonary drug delivery segment is further classified into metered dose inhalers (MDI), dry powder inhalers (DPI) and nebulizers. Topical drug delivery segment is segmented based on form into liquid, semi-solid, solid and transdermal. Ocular drug delivery devices are segmented into liquid ocular drugs, semi solid ocular drugs and ocular devices. The implantable drug delivery devices segment includes active and passive implantable drug delivery devices. The transmucosal drug delivery segment is sub segmented into oral transmucosal and others.
Based on end-users the market is segmented into hospitals, over the counter, clinics, home healthcare, community healthcare, and others.
Based on distribution channel the market is segmented into hospital pharmacies, pharmacy stores, direct tenders and online pharmacy.
Drug Delivery Devices Market – Geographical Segmentation
Based on geography the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East Africa. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. U.S. is expected to dominate the market due to rising prevalence of chronic diseases, large healthcare expenditure, and paradigm shift towards value based reimbursements.North America is expected to dominate the market and is expected to account for the largest share of 49.0% in 2017. This market to poised to witness the largest share due to the increasing prevalence of chronic diseases, development of biologics and pharmaceutical drugs and devices, increasing patient compliance and patient safety. Asia is expected to grow at a highest CAGR of 13.3% in the forecast period 2017-2024. This market is expected to witness the highest growth rate due to the increasing elderly population, availability of self-administration, and collaboration of major companies with the emerging markets.
Drug Delivery Devices Market – Competitive Landscape:
The global drug delivery market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market. Some examples of recent strategies adopted by market players are: April 2017,Novartis received FDA approval forRydaptfor two indications. The first indication is for the treatment of acute myeloid leukemia (AML) in newly diagnosed patients and second for the treatment of adults with advanced systemic mastocytosis (SM). This approval will follow a prior Breakthrough Therapy designation in FLT3-mutated AML along with Orphan Drug designation and Priority Review in both indications by the FDA.
Some of the major players operating in this market areBayer AG, Johnson & Johnson, Novartis AG, Pfizer, Inc., F. Hoffmann-La RocheAG, GlaxoSmithKline plc. , Merck & Co., Sanofi, Antares Pharma, 3M, Becton Dickinson and Company, Nemera,Cima Labs, Inc., Dali Medical Devices, Alkermes, Foamis, Ypsomed, Skyepharma AG, Valeant PharmaceuticalsDSM Biomedical and Catalent, Inc. among others.
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Europe Drug Delivery Devices Market, By Route of Administration (Oral (Solid, Liquid, Semi-Solid), Injectable, Topical, Pulmonary (MDI, DPI, Nebulizers), Nasal, Ocular, Implantable, Transmucosal), By End-User (Hospitals, Ambulatory Surgery Centers/Clinics, Home Care Settings, Diagnostic Centers, Others), By Country (Germany, France, U.K., Spain, Italy, Russia, Netherlands, Turkey, Belgium, Switzerland, Rest of Europe) – Trends and Forecast to 2022
Asia Pacific Drug Delivery Devices Market, By Route of Administration (Oral (Solid, Liquid, Semi-Solid), Injectable, Topical, Pulmonary (MDI, DPI, Nebulizers), Nasal, Ocular, Implantable, Transmucosal), By End-User (Hospitals, Ambulatory Surgery Centers/Clinics, Home Care Settings, Diagnostic Centers, Others), By Country (China, India, Japan, South Korea, Singapore, Australia, Rest of APAC) – Trends and Forecast to 2022
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