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The global drug delivery devices market size was USD 1,020.07 billion in 2018 and is projected to reach USD 1,792.60 billion by 2026, exhibiting a CAGR of 7.3% during the forecast period.
The pharmaceutical industry is evolving at a rapid rate and experiencing fierce competition. These challenges have resulted in rise in demand for biologics drugs for treatment of various diseases. Demand for user-friendly devices enabled with smart technology, large-volume drug dose delivery, and lesser side effects will drive the growth during the forecast period. Additionally, the penetration of healthcare start-ups will promote innovations in emerging as well as developed nations, thereby contributing to earning large market size. Higher investments for nanotechnology-based devices coupled with shift towards home-based care, is anticipated to mark high growth in the near future.
"Manufacturer’s Focus Towards Digitalization to Spur the Market"
Previously, pharmaceutical manufacturers focused on delivering the right drug molecule and often decided the delivery mode later. But nowadays, manufacturers have started considering delivery of the drug earlier. This has given rise to the digitalization trend in the pharmaceutical industry. The digital experience is unrolling into the drug delivery space in the form of apps, adherence, wellness, and education. The digital aspect for drug delivery is helping patient population by ensuring that the patients receive the proper therapeutic dose for their diagnosed condition. This is driving the need for novel and smart drug delivery devices in the market such as wearables. For example, Insulet Corporation’s Omnipod, a wearable device indicated for diabetes management, is a smart, waterproof and discreet device that allows patients and caregivers a peace of mind.
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"Launch of Innovative Products to Fuel the Market"
Introduction of new products with large volume doses, smart technology, and user-friendly attributes have resulted in increasing the demand for advanced drug delivery devices. The popularity of ocular inserts, insulin jet, wearables, and others is increasing as innovative product launches have provided greater efficiency and customer satisfaction. Significant investments made by the producers in understanding the needs of the patients and introducing products that match the patient’s requirements is projected to augment the drug delivery devices market growth. For example, West Pharmaceutical Services Inc., in October 2019, launched NovaPure 3ml cartridge for the delivery of higher volume injectable drug delivery.
"Patient Shift Towards Adoption of Advanced Drug Delivery Devices to Increase Market Value"
Rising patient preference from conventional drug delivery devices to acceptance of advanced drug delivery devices is anticipated to drive the market during the forecast period. The growth of advanced drug delivery devices is attributable to the advantages provided by the devices such as wearables, auto-injectors, dry powder inhalers, and many others over conventional form of drug delivery such as injections. Advanced drug delivery devices provide needle-free drug delivery and thus are highly preferred among patients. These devices are portable, smart, and offer the user a greater flexibility along with the advantage of self-administration and self-monitoring attributes.
"Frequent Regulation and Guideline Changes for Combination Products to Hamper the Market Growth"
On the regulatory outlook, the regulatory bodies have set stringent regulations for the approval of combination products. They have now focused on analyzing the drug formulations and not only the device efficiency. Due to frequent changes in the regulations, manufacturers find it challenging in launching new product and as well as meeting the patient needs. For example, in November 2019, the U.S FDA issued a new draft guidance for product development and quality consideration of transdermal and topical delivery systems. Such changes are expected to hamper the growth of the market.
"Injectable Segment to Register Remarkable Growth"
The report focuses on market trends covering different product types that include injectable, nasal, topical & transdermal, oral, and others. The injectable segment is estimated to dominate the drug delivery devices market share owing to the system’s ability to deliver drugs to the target site allowing it to be more localized. Also, rising patient preference shift from vial-and-syringe to ready-to-use devices to boost the segment growth.
The others segment is anticipated to hold the second position in the market owing to the investments in R&D for the development of ocular, rectal, and other devices. The topical and transdermal drug delivery devices segment is anticipated to mark significant growth in the forecast period owing to advancements and advantages provided by the transdermal drug delivery devices. This includes properties such as avoiding first-pass metabolism, minimizing side effects, increasing patient compliance and avoiding dose dumping.
"Advanced Drug Delivery Segment to Emerge as Fastest Growing Segment"
Based on type, the market has been segmented into conventional and advanced. Conventional drug delivery devices account for the dominating share in the market. This dominance is attributable to the rising demand for inhalers, injectable, nebulizers, and others. Also, the increasing prevalence of respiratory diseases, growing hospital admissions, and demand for needle-free drug delivery devices are the factors responsible for the leading position. According to the World Health Organization (WHO), around 300 million people worldwide have been diagnosed with asthma. Though advanced drug delivery devices have been introduced in the market, injectable, pen-injectors, inhalers are still commonly practiced worldwide.
On the flip side, innovations for nanotechnology-based devices are emerging in the market. Demand for more user-friendly, compatible, and lesser side effects devices are expected to propel the demand for advanced drug delivery devices in the market. Furthermore, complex disorders such as cancer, and neurological disorders require careful and target-specific drug delivery to enhance effective treatment. This is projected to boost the advanced segment in the market during 2019-2026.
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"Retail Pharmacies to Emerge as the Fastest Growing Segment"
Based on distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment accounted for the major portion of the market. Increasing hospital admissions in the emerging nations, as well as advancements in the hospital facilities worldwide, are responsible for high market share earned by the hospital pharmacies segment. The retail pharmacies segment, on the other side is expected to emerge as the fastest growing segment during the forecast period, owing to easy availability of these devices in the pharmacies as well as increased adoption of drug delivery devices by the retail pharmacies. Additionally, the rising awareness among the patient population about the benefits of inhalers for asthma, growing preference for self-injectable devices and self-monitoring devices will add to the growth of the retail pharmacies segment. Lower adoption of e-commerce and online channel for purchases in the low-income countries is expected to hinder the growth for the online channels segment during the forecast period.
North America, by generating a revenue of USD 428.43 billion in 2018, accounted for the maximum drug delivery devices market share in 2018. Key factors responsible for this dominance are favorable health reimbursement, rising emphasis on elderly care, and greater adoption of the drug delivery devices by the patient population. Moreover, development of biologics, increasing chronic disorders, and existence of large number of prominent players are the factors augmenting the market in North America. Europe holds the second position in the global market. Increasing prevalence of chronic diseases is the major factor responsible to drive the European market growth. This, coupled with the penetration of big pharma companies in countries such as Italy, Switzerland, Ireland, and others is expected to drive the drug delivery devices market growth. Asia Pacific is anticipated to register highest CAGR. Rising population in countries such as China and India, huge number of potential users, and the increasing awareness about the benefits of drug delivery devices in the emerging nations are the major factors boosting the market in Asia-Pacific. The market in Latin America and Middle East and Africa are in nascent stage. However, developing healthcare infrastructure in these regions are likely to help the respective markets witness considerable growth during the forecast period.
North America Drug Delivery Devices Market Size, 2018
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"Continuous Investments in Development of Drug Delivery Devices and New Product Launches by Key Players Will Intensify Competition"
The global market is fragmented in nature with a large number of key players operating worldwide. These companies are making efforts to deliver patient-friendly, therapeutically effective, and smart devices. Key players such as BD, 3M, West Pharmaceutical Services Inc., Emergent BioSolutions Inc., Insulet Corporation, Consort Medical plc, as well as other prominent players play huge role in bringing up novel and technology-enhanced drug delivery devices in the market. Merging and acquisitions between the local and multinational players has contributed to the healthy market competition.
Furthermore, delivering and innovation into advanced drug delivery devices such as nanotechnology-based devices is the upcoming trend adopted by the market players.
An Infographic Representation of Drug Delivery Devices Market
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The drug delivery devices market report highlights the leading regions across the world that offers a better understanding of the market for the user. Furthermore, the report provides insights into the latest industry trends, new product launches, pipeline analysis and key industry developments such as mergers, acquisition, and partnerships. It further throws light on some of the growth-stimulating factors and restraints, helping the reader to gain in-depth knowledge about the market.
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Value (USD Billion)
By Route of Administration
By Distribution Channel
October 2019: Aptar Pharma announced the of its patented Unidos liquid system Tosymra for treatment of migraine in the U.S.
August 2019: Nemera announced the acquisition of Insight Product Development to strengthen its capabilities as an early-stage development company and provide drug delivery devices services to consumers in North America.
The value of the global market was USD 1,020.07 billion in 2018.
Fortune Business Insights says that the market is projected to reach USD 1,792.60 billion by 2026.
North America market was valued at USD 428.43 billion in 2018.
The market is projected to grow at a CAGR of 7.3% during the forecast period (2019-2026).
The injectable segment is the leading segment in this market during the forecast period.
New product launches and increasing innovations in the drug delivery devices are the key factors driving the market.
BD, 3M, Consort Medical plc, are the key players in the market.
North America is expected to hold the highest market share.
Growing shift towards home-based care and emergence of digitalization in drug delivery devices are the key trends of the market.
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