DRUG DELIVERY DEVICE MARKET ANALYSIS

The global drug delivery device market was valued at US$ 258,800.0 Mn in 2021 and is forecast to reach the value of US$ 423,431.7 Mn by 2028 at a CAGR of 7.4% between 2022 and 2028. The drug delivery device market is experiencing strong growth due to the increasing burden of chronic/non-communicable diseases and increasing adoption of technologically advanced drug delivery devices worldwide. Moreover, growth in the biologics market and growing geriatric population across the world is expected to boost the growth of the market. However, factors such as product recalls and risk of needlestick injuries are expected to hamper growth of the market.

Global Drug Delivery Device Market: Regional Insights

Based on geography, the global drug delivery device market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period due to the increasing burden of chronic diseases, rise in demand for drug delivery devices, and increase in awareness regarding the advantages of such devices in the region. For instance, in March 2022, Corium announced that the U.S. Food and Drug Administration (FDA) has approved ADLARITY (donepezil transdermal system) as a treatment for patients with mild, moderate, or severe dementia of the Alzheimer's type. ADLARITY is the first and only once-weekly patch to continuously deliver consistent doses of donepezil through the skin.

Europe and Asia Pacific are also expected to witness significant growth in the global drug delivery device market due to the rise in prevalence of non-communicable diseases and rise in demand for drug delivery devices in these regions. For instance, according to the World Health Organization (WHO/Europe), non-communicable diseases (NCDs) are the leading cause of mortality across the European Region. NCDs, such as cardiovascular diseases, cancer, diabetes, and chronic respiratory diseases, account for nearly 75% of deaths across the region. Thus, the demand for drug delivery devices is increasing rapidly in Europe and Asia Pacific.

Figure 1. Global Drug Delivery Device Market Share (%), by Region, 2022

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Global Drug Delivery Device Market Drivers:

Increasing burden of chronic/non-communicable diseases worldwide is expected to drive growth of the global drug delivery device market over the forecast period. For instance, implantable drug delivery devices offer unique patient solutions for chronic diseases. According to the World Health Organization (WHO), non-communicable diseases (NCDs), such as heart disease, stroke, diabetes, cancer, and chronic lung disease, are responsible for 74% of all deaths worldwide. More than three-quarters of all NCD deaths occur in low- and middle-income countries. This in turn is expected to aid in the growth of the global drug delivery device market.

Increasing adoption of technologically advanced drug delivery devices for effective drug delivery is expected to boost the growth of the global drug delivery device market over the forecast period. For instance, in June 2022, Gufic Biosciences launched new drug delivery system (NDDS), named dual-chamber bags (DCB) at an affordable price in India. These bags are two-chamber IV bags made up of polypropylene (DEHP free) with a peel-able aluminium foil allowing the storage of unstable drugs which need a reconstitution just before the administration to the patient. This in turn is expected to propel the growth of the market.

Global Drug Delivery Device Market Opportunities:

Rapid growth in the biologics market is expected to provide significant growth opportunities for players in the drug delivery device market. For instance, drug delivery device/system are expected to improve targeted delivery of biologics. Thus, market players are focusing on developing novel drug delivery devices/systems. Moreover, research to develop drug delivery systems for biologics is expected to increase over the forecast period, driving the growth of the market. Novartis invested US$ 700 million in its biologic's facility in Singapore, and Bristol-Myers Squibb invested nearly US$ 900 million in an Irish large-scale biologics facility.

Growing geriatric population around the world is expected to offer lucrative growth opportunities for players in the global drug delivery device market. For instance, the ageing population tends to have a higher prevalence of chronic diseases worldwide, as geriatric population is more prone to chronic/non-communicable diseases than the younger population. According to WHO, by 2030, 1 in 6 people in the world will be aged 60 years or over, and the world’s population of people aged 60 years and older will double (2.1 billion) by 2050. This in turn is expected to increase demand for drug delivery devices across the world.

Global Drug Delivery Device Market Trends:

The major trend driving the drug delivery device market growth is the increasing implementation of strategic initiatives and development of novel products. For instance, in December 2020, Agile Therapeutics Inc. announced the launch of a new non-invasive contraceptive patch, named Twirla (levonorgestrel and Ethinyl estradiol) transdermal system. The development of such products is fueling the use of drug delivery products, driving the market growth.​

Moreover, with the increasing prevalence of chronic diseases, the development of biologics is also increasing at a rapid pace across the world. Players in the market are focusing on developing and launching technically-advanced drug delivery devices for effective delivery of biologics. Due to their large molecular size and fragile molecular structure, biologic medicines are delivered through parenteral drug delivery system. This trend is also expected to continue during the forecast period, driving the growth of the global drug delivery device market.

Global Drug Delivery Device Market Restraints:

Product recalls are expected to hamper the growth of the global drug delivery device market. For instance, in December 2019, U.S. FDA recalled Medtronic’s SynchroMed II systems after deaths were reported in patients implanted with the SynchroMed II system. FDA categorized a voluntary recall of certain SynchroMed II implantable drug infusion pumps as a Class I event

Risk of needlestick injuries is expected to hinder growth of the global drug delivery device market. For instance, drug delivery devices available in the market are mainly injectable devices that use needles to inject therapeutics into the body. Needlestick injuries are known to occur frequently in healthcare settings and can be serious. These injuries are one of the most important occupational hazards among healthcare workers worldwide.

Figure 2. Global Drug Delivery Device Market Share (%), by Route of Administration, 2022

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Global Drug Delivery Device Market Segmentation:

The drug delivery device market report is segmented into Route of Administration, Application, End User, and Geography.

Based on Route of Administration, the market is segmented into Injectable, Topical, Ocular, and Other Routes of Administration. Of which, Injectable Segment is expected to dominate the drug delivery device market during the forecast period and this is attributed to the increase in use of injectables to treat chronic/non-communicable diseases. Injectable route is the most effective route of administration, as the bioavailability of the drug is higher than other routes.

Topical Segment is also expected to witness significant growth in the near future and this is owing to the increase in prevalence of diabetes. Transdermal drug administration refers to substances that are absorbed through the skin.

Based on Application, the market is segmented into Cancer, Cardiovascular, Diabetes, Infectious Diseases, and Other Applications. Out of which, Cancer Segment is expected to dominate the market over the forecast period and this is attributed to the increase in burden of cancer.

Segment is also expected to witness significant growth in the near future and this is owing to the increase in prevalence of cardiovascular diseases worldwide.

Based on End User, the market is segmented into Hospitals, Ambulatory Surgical Centers, and Other End Users. Out of which, Hospitals Segment is expected to dominate the market over the forecast period and this is attributed to the increase in use of drug delivery devices in hospitals.

Ambulatory Surgical Centers Segment is also expected to witness significant growth in the near future and this is owing to the increase in adoption of injectables drugs across these centers.

Global Drug Delivery Device Market: Key Developments

In March 2022, Pfizer Inc. acquired Arena Pharmaceuticals to expand its portfolio of therapeutic candidates in gastroenterology, dermatology, and others.

In August 2021, Bayer AG Acquired 100% shares of the biopharmaceutical company Vividion Therapeutics, to expand its product portfolio in novel drug discovery technologies.

In April 2021, Roche and Biocorp entered a partnership to launch Mallya, an innovative medical device to better the daily life of diabetes patients.

Global Drug Delivery Device Market: Key Companies Insights

The global drug delivery device market is highly competitive. This is attributed to the increasing demand for drug delivery devices around the world, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global drug delivery device market are Pfizer Inc., Novartis AG (Sandoz), F. Hoffmann-La Roche Ltd., Johnson & Johnson, and Bayer AG, among others.

*Definition: A drug delivery device is defined as a device or formulation that enables a therapeutic substance to reach its site of action without reaching the non-target cells, organs, and/or tissues. Drug delivery devices are used as part of one or more medical treatments.