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The global drug delivery systems market size was valued at USD 34.70 billion in 2021 and is projected to grow from USD 39.33 billion in 2022 to USD 71.75 billion by 2029, exhibiting a CAGR of 9.0% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the market had exhibited a slow growth of 5.4% in 2020 compared to 2019.
The drug delivery system is a device that enables the introduction of a drug in the body and improves its efficacy and safety by controlling the rate, time, and place of release of drugs in the body. The systems include drug delivery devices without drugs, such as auto-injectors, jet-injectors, and syringes. The manufacturers of drug delivery systems either distribute their products to pharmaceutical companies or consumers through various pharmacies such as retail pharmacies, hospital pharmacies, and online pharmacies.
The growing vaccination drives to minimize the spread of COVID-19 are expected to fuel the demand for these systems during the forecast period. Moreover, factors such as the surging number of chronic diseases, growing awareness and adoption of advanced drug delivery systems, and the emerging novel technologies drive the market. Furthermore, the market players focusing on various strategies such as new product launches and collaborations are expected to contribute to the market growth in the coming years.
Market to Witness a Strong Positive Impact Due to Increasing Vaccination Rates Worldwide
The impact of COVID-19 is expected to result in considerable growth of the market during the analysis period. This is attributed to the significant acceleration in the production of injectable drug delivery systems by manufacturers coupled with the increase in COVID-19 vaccination across the world. The market witnessed an increase of 26.2% in 2021 as compared to 2020. However, the market witnessed a slow growth in 2020 as compared to 2019. The slow growth in 2020 was due to the factors such as reduced hospital admissions due to COVID-19 and supply chain disruptions across the world.
According to the World Health Organization (WHO), more than 10 billion doses of COVID-19 were given to worldwide population as of 7th February 2022, resulting in the growing production capacity of the systems. For instance, most of the companies focused especially on injectable manufacturing to smoothly drive the COVID-19 vaccinations. The rising incidence of respiratory disorders during COVID-19 and increase in the demand for syringes resulted in the high revenue of manufacturers as compared to the historical years. For instance, Becton, Dickinson, and Company (BD) witnessed an increase of 15.5% in its yearly revenue. The revenue increased from USD 17,117.0 million in 2020 to USD 20,248.0 million in 2021, which can be attributed to the strong performance of the medical and life sciences segment.
The decrease in the patient-visits in hospitals and clinics during COVID-19 increases the demand for safe and easy-to-use homecare solutions, which can be achieved using self-injection devices. The major players of this market have also developed advanced drug delivery devices that can be easily self-administered at home. For instance, in August 2021, E3D Elcam Drug Delivery Devices and Mount Sinai Hospital planned to prepare a package that includes a ready-to-use Vial drug and Flexi-Q DV auto-injector device that enables continued treatment for patients who could not access healthcare facilities due to pandemic.
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Strategic Collaboration and New Product Launches to Boost the Market Growth
The companies operating in the market constantly focus on the strategies such as collaboration and development & introduction of new products. These strategies help the companies to increase their revenue, thereby propelling the overall market growth.
The advent of new product launches with increased safety, and user-friendly features is expected to attract the major pharmaceutical industry. Additionally, better dosing features also complement drug treatment outcomes and increase the potential of disease management in homecare settings.
Moreover, the rise in the collaborations of market players with pharmaceutical companies to develop and launch products. For instance, in April 2021, KINDEVA DRUG DELIVERY collaborated with Cambridge Healthcare Innovations Limited (CHI) to develop and commercialize CHI’s αeolus dry-powder inhaler (DPI) platform technology.
Increase in Shift of Patients towards Advanced Drug Delivery Systems to Favor the Market Growth
The rise in the shift of patients towards advanced products is due to decreased variability in systemic drug concentrations and its ability to deliver a drug more selectively to a specific site with more accuracy. These features have led to an increase of self-administered devices among patients.
Moreover, the digitalization of medical devices has increased the awareness of advanced products among patients. The digitalization system provides various advantages such as needle-free injection, controlled dosage, higher flexibility of self-administration, leading to an increase in the adoption of devices.
The patient shifts towards advanced products combined with increased government initiatives for public awareness of the products are expected to boost the market in the coming years.
Increasing Burden of Chronic Diseases to Drive the Market Growth
In recent years, chronic diseases such as asthma, Chronic Obstructive Pulmonary Disease (COPD), cancer, diabetes, and other diseases have been the leading causes of death globally. Factors such as the growing prevalence of chronic diseases such as diabetes, COPD, asthma, and emerging technologies for treating chronic diseases are expected to fuel the market during the forecast period. According to the 2018 Ageing Report published by the European Commission, the percentage of people aged 65 years and above is estimated to increase from 21.6% in 2016 to 51.2% in 2070 in the countries of the European Union. Such a large group of the geriatric population susceptible to chronic diseases is expected to increase the adoption of such systems.
Furthermore, the increase in the launch of new products and digitalization in the healthcare sector has generated growth opportunities for the companies.
Product Recalls and Stringent Regulations to Hinder Market Growth
The major factors restraining the market are strict regulations and guidelines associated with the approval of drug delivery devices and product recalls by the U.S. FDA. According to the article published Drugwatch in 2021, on average, about 4,500 drugs and devices are recalled from U.S. shelves each year.
The product recalls are mainly based on adverse effects, non-compliance, and data security issues, limiting the growth of the market.
The technologically advanced products go through various regulatory approval processes. The stringent regulations of the regulatory bodies to evaluate the performance and safety of the products are expected to limit the launch of technologically-advanced and innovative products during the forecast period.
The invasive nature of the products could impact the trust of the customer in the device, and strict regulations to approve the products are limiting the growth of the market.
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Injectable Segment Continue to Dominate the Market with the Rising Demand for Syringes
Based on the type, the market can be segmented into inhalation, transdermal, injectable, and others.
The inhalation segment is expected to expand at substantial CAGR during the forecast period, 2022-2029. The growth of the inhalation segment is attributed to the rising adoption of inhalers coupled with the increasing prevalence of respiratory disorders such as asthma and other bronchial conditions. Moreover, the increase in the product launches of inhalation systems in the market by the key players is expected to fuel the market growth during the forecast period.
The injectable segment held the highest market share in 2021 and is projected to expand at the highest growth rate during the forecast timeframe. The rising demand for wearable injectable systems for drug delivery is expected to increase product launches, thereby spurring segmental growth. Moreover, the increasing vaccination drive across the world leading to the increased demand for syringes is expected to contribute to the segmental growth in the near future.
Rising Adoption of Advanced Systems for Drug Delivery to Fuel the Segment
Based on the device type, the global market can be segmented into conventional and advanced.
The conventional segment held the highest market share in 2021 and is projected to expand at a substantial CAGR during the forecast timeframe. The highest share of this segment is due to the growing demand for biosimilar products and the low cost of devices. Furthermore, the rising prevalence of chronic diseases such as asthma and diabetes, and cardiovascular diseases (CVD) is expected to increase the demand for conventional systems, especially in developing countries that are more dependent on conventional systems as compared to advanced systems.
The advanced segment is expected to expand at the highest CAGR during the forecast period. The high preference and continuously increasing adoption of the advanced products is due to its advantages such as high-therapeutic effectiveness, better patient compliance, and reduced treatment cost. Furthermore, rising geriatric population, technological advancements, and increasing demand for novel products in the market are the key factors driving the growth of the segment.
Surge in the Hospital Admissions Drives the Segmental Growth
On the basis of end-user, the market can be segmented into hospital pharmacies, retail pharmacies, and others.
The hospital pharmacies segment is expected to dominate the global market during the forecast period due to a large number of patient footfalls in hospitals. Hospital pharmacies are the integral unit of the hospitals. Thus, an increase in patient visits to hospitals tends to increase the distribution of the drug delivery systems from the hospital pharmacies. The rising number of hospitals in various countries is expected to increase the distribution of these systems from hospital pharmacies, thereby spurring the segmental growth.
The retail pharmacies are anticipated to account for a substantial market share during the forecast period. The segmental growth is attributed to the increase in the number of retail pharmacies and increased investment by governments and other organizations. For instance, in February 2021, Clicks opened its 600th in-store pharmacy in South Africa. Such new retail pharmacies are expected to increase the distribution of drug delivery systems in the coming years.
The instant spike in demand for these systems from other segments, including e-pharmacies and homecare pharmacies, is attributed to the increase in the usage and awareness of these types of pharmacies that provide better access to people with limited mobility and low product cost.
North America Drug Delivery Systems Market Size, 2021 (USD Billion)
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On the basis of region, the global market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The market in North America was valued at USD 14.15 billion in 2021 and is anticipated to continue its dominance in the global market during the forecast period. Some of the contributing factors include the rapid increase in the COVID-19 vaccination drive by the U.S. government, which resulted in the increased demand for syringes. Furthermore, strong demand for drug delivery systems due to the increased number of hospital admission in the region is expected to drive the drug delivery systems market growth in North America during the forecast period.
Increased demand for advanced drug delivery systems such as metered-dose inhalers and sensor-embedded devices and the growing incidence of chronic diseases are the other factors likely to drive the market growth in the region.
Europe is anticipated held the second-highest market share in 2021 and is projected to expand at a significant CAGR during the forecast period. The growth is due to the growing awareness regarding advanced drug delivery systems and the increasing adoption of advanced products in the region. Moreover, clinical trials for the key regulatory approvals for new products and the introduction of new products by the key players are expected to drive the market growth in the region.
The market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period, 2022-2029. Some of the critical factors contributing to the market growth across the region include a large patient population, the growing prevalence of chronic diseases, increasing healthcare expenditure in countries such as China and India, and rising COVID-19 vaccination by these countries. Furthermore, manufacturers in India are increasing their production capacities to meet the rising demands of syringes, thereby fostering the overall market growth across the region.
Latin America held a substantial market share in 2021 and is projected to expand at a moderate CAGR during the forecast period. The region is experiencing an increase in healthcare expenditure to enhance the overall healthcare system, which is expected to improve the current services provided in healthcare facilities, resulting in an increased demand for drug delivery systems. The market growth in the Middle East and Africa is attributed to the increase in the prevalence of chronic diseases in the region, the surge in hospital admissions, and the increasing burden of asthma and diabetes.
Companies with the Diversified and Strong Product Portfolio Hold Key Market Share
In terms of the global drug delivery systems market’s competitive landscape, the scenario reflects a highly fragmented market with the entrance of many small players in 2021.
BD, Baxter International Inc., Gerresheimer AG, and West Pharmaceutical Services Inc. are some of the prominent players operating in the market. BD constantly focuses on introducing new products in the market.
Other market players include Ypsomed, Medtronic, Nemera, E3D Elcam Drug Delivery Devices. These companies are anticipated to increase their market shares during the forecast period by launching new advanced products and increasing their production capacities to meet the demand for drug delivery devices.
An Infographic Representation of Drug Delivery Systems Market
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The global drug delivery systems market research reports deliver a detailed market analysis and market sizing. It focuses on key aspects such as new product launches and technological advancements. Additionally, it includes an overview of all the segments, key industry developments such as mergers, partnerships, & acquisitions. Moreover, it covers regional analysis of different segments, company profiles of key market players, and the impact of COVID-19 on the market. Besides these, the report offers an overview of market trends, market opportunities, and the impact of these systems on the stakeholders. The report encompasses qualitative and quantitative insights that contribute to the growth of the market.
ATTRIBUTE | DETAILS |
Study Period | 2018-2029 |
Base Year | 2021 |
Estimated Year | 2022 |
Forecast Period | 2022-2029 |
Historical Period | 2018-2020 |
Unit | Value (USD Billion) |
By Type
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By Device Type
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By Distribution Channel
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By Geography
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Fortune Business Insights says that the global market size was USD 34.70 billion in 2021 and is projected to reach USD 71.75 billion by 2029.
In 2021, North America stood at USD 14.15 billion.
The market is projected to expand at a CAGR of 9.0% during the forecast period.
The conventional segment is the leading segment in the market.
The key factors driving the market are the surging number of COVID-19 vaccinations worldwide, new product launches, the rising prevalence of chronic diseases, and emerging novel technologies.
BD, Baxter International Inc., Gerresheimer AG, and West Pharmaceutical Services Inc. are some of the major players in the global market.
North America dominated the market in 2021.