Drug Delivery Device Market to Surpass US$ 423,431.7 Mn by 2030 CAGR of 7.4% | Pfizer Inc., Novartis AG,F. Hoffmann-La Roche Ltd.

Drug delivery devices are a kind of tool used in delivering a drug or any therapeutic agent via a particular way of transmission. These types of devices are needed for some kind of treatments in the medical field. Drug delivery devices are useful in delivering the requisite quantity of drugs properly at the target spots and in maintaining the preferred level of drug. The area of delivery of drug has improved a lot throughout the years and more likely innovations are anticipated in future also.

Market Statistics

Globally, the market for drug delivery device (DDD) is forecasted to report for US$ 276,611.0 million as per value by 2022.

Drivers

Rise in need for new devices for drug delivery worldwide is anticipated to boost the market of DDD in the predicted period. For example, with the rise in problem of prolonged/non-communicable diseases across the world, the need for new devices for drug delivery is rising at a very fast speed. Jabil Healthcare in May 2022, pronounced the launch of Qfinity autoinjector platform which is a simple, reusable and a modular solution for subcutaneous (SC) drug self-administration. This can be done at a cost much lower than the prevailing alternatives in the market, by means of offering support to the evolving arrangements of the ecological delivery of drug inside the pharmaceutical industry.

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Opportunities

Increasing problem of the non-communicable diseases worldwide is anticipated to provide profitable opportunities of growth for the companies in the market of DDD. For example, devices of drug delivery provide exclusive services for non-communicable diseases like diabetes, cardiovascular diseases and cancer. As per Pan American Health organization (PAHO), non-communicable diseases (NCDs) are the cause of around 41 Mn people deaths across the world every year, about 71% of the total number of deaths across the world. In the United States, NCD’ results for 5.5 Mn deaths. Non-communicable deaths like diabetes, cancer, cardiovascular deaths and respiratory diseases, reports for 80% of the total number of premature deaths by NCD.

Restraints:

The threat and the possibility of the injuries by needlestick and recalling products are the main causes anticipated to hamper the growth of the market for DDD worldwide. For example, needlestick inuries or the NSIs are most commonly occurring in the settings of healthcare and it can be serious. Furthermore, the occupational risk of blood transmitted diseases among the health workers is posed by the NSIs. Devices for the delivery of drug can be availed in the market and is injectable in type, which uses the needles to inject the treatment inside the body. Thus, the threat of needlestick injury (NSI) is very high.

Global Drug Delivery Device Market – Impact of Coronavirus (Covid-19) Pandemic

Owing to the pandemic COVID-19 and its outbreak, various governments and the drug companies were operating to provide safe, accurate COVID-19 treatment, and devices of the drug delivery are anticipated to play a vital part in this reference. Furthermore, programs for mass vaccination are being done worldwide in immunizing people against COVID-19. For example, as per the World Health Organization (WHO), November 29^th, 2022, more than 13,042,112, 489 doses of COVID-19 vaccines were administered across the world. Precisely, pandemic has raised the need for the devices of drug delivery across the world, pushing the growth of the market.

Key Takeaways

Globally, the market for the devices of drug delivery was priced at US$ 258,800.0 million in the year 2022 and is estimated to the extent of US$ 423,431.7 million by the end of year 2028 at a CAGR of 7.4% from 2023 to 2030.

Considering administration route, other segments hold a dominating position in the market for DDD worldwide in the year 2022, reporting for 49.4% share value, raising the consent and the introduction of novel products is anticipated to boost the segment’s growth in the predicted period.

Market Trends

The main fashion pushing the market growth of the devices in the drug delivery is the rising execution of the strategic creativities and the growth of the new drug delivery devices. For example, Gufic Biosciences in June 2022, introduced novel drug delivery system (NDDS), termed dual-chamber bags (DCB) in India. The growth of these products is raising the usage of drug delivery products, pushing the growth of the market. This tendency is anticipated to last in the predicted period.

Competitive Landscape

The main companies participating in the market for the devices in the drug delivery worldwide are Pfizer Inc., Novartis AG (Sandoz), F. Hoffmann-La Roche Ltd., Johnson & Johnson, and Bayer AG, among others.

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Recent Developments

Roche in May 2021, pronounced an agreement with Eli Lilly Company to work for optimization of the management of insulin pen therapy.

Johnson & Johnson in February 2021 pronounced that the commission in Europe permitted the use of Janssen’s Spravato for very fast fall of the depressive signs for a piscatric emergency in adults.

Johnson & Johnson in August 2020 acquired Momenta Pharmaceutical which is a company that determines and grows new treatments for immune mediated disease in order to expand the leadership of the company in new treatment of the immune system.

Table of Content

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Drug Delivery Devic Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Drug Delivery Devic Industry Impact

Chapter 2 Global Drug Delivery Devic Competition by Types, Applications, and Top Regions and Countries
2.1 Global Drug Delivery Devic (Volume and Value) by Type
2.3 Global Drug Delivery Devic (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Global Drug Delivery Devic Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Drug Delivery Devic Market Analysis
Chapter 6 East Asia Drug Delivery Devic Market Analysis
Chapter 7 Europe Drug Delivery Devic Market Analysis
Chapter 8 South Asia Drug Delivery Devic Market Analysis
Chapter 9 Southeast Asia Drug Delivery Devic Market Analysis
Chapter 10 Middle East Drug Delivery Devic Market Analysis
Chapter 11 Africa Drug Delivery Devic Market Analysis
Chapter 12 Oceania Drug Delivery Devic Market Analysis
Chapter 13 South America Drug Delivery Devic Market Analysis
Chapter 14 Company Profiles and Key Figures in Drug Delivery Devic Business
Chapter 15 Global Drug Delivery Devic Market Forecast (2023-2030)
Chapter 16 Conclusions
Research Methodology