Drug Delivery Market Size to Reach $1,801.54 Billion by 2026; Rising Penetration of Healthcare Startups Offering User-friendly Devices to Aid in Expansion of Market

The global Drug Delivery Market size is expected to reach USD 1,801.54 billion by 2026, on account of the increasing prevalence of chronic diseases worldwide and the need to provide adequate treatment. This information is provided in a recently published report by Fortune Business Insights™ titled, “Drug Delivery Market Size, Share & Industry Analysis, By Route of Administration (Injectable, Inhalation, Topical & Transdermal, Oral and Others), By Type (Conventional and Advanced), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others) and Regional Forecast, 2020-2026.” In 2018, the market value stood at USD 1,021.29 billion, exhibiting a CAGR of 7.4% during the forecast period, 2019-2026

Launch of Audio-triggered Injectors by Becton Dickinson to Set New Drug Delivery Market Trends

The American manufacturer of medical devices, reagents, and instruments launched auto-injector combo in October 2019. This device, called BD Inteva, is equipped with indicators with visual feedback that helps patients to keep track of the correct dose when delivered into the body and ends with an audible click. Peter Nolan, the president of BD Medical- Pharmaceutical Systems, says this will help to enhance a seamless drug delivery experience, thus promoting the self-injecting trend. Such innovations are likely to aid in the expansion of the market in the forecast period.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/drug-delivery-devices-market-102416

Advent of Smart Technology in Medical Devices to Promote Market Growth

The increasing cases of chronic diseases is a significant factor in boosting this growth. This, coupled with the rapidly growing pharmaceutical sector, will help increase the market. Besides this, the market will witness remarkable growth on account of the increasing demand for biologic drugs for treating various diseases. Additionally, the advent of new healthcare setups will help augment the market in the forecast period.

On the contrary, stringent regulations imposed on the approval of combination drugs may restrict the overall growth of the market. Owing to this frequently changing regulatory norms, manufacturers prefer to back down from investing huge sums into research and development and launch innovative products into the market. This may further cause significant hindrance to the overall market in the long years.

Nevertheless, the rising trend of home care setting and the gradual shift from conventional medical ailment to advanced drug delivery devices, self-administration, and self-monitoring attributes will help the market gain impetus in the coming years.

Fragmented Nature of Market and Launch of Innovative Products to Intensify Competition

The market is highly fragmented in nature, attributed to the presence of a large number of players. Most of the drug delivery market manufacturers are focusing on the development of therapeutically effective, patient-friendly, and smart devices for standing out in the competition and earning high revenue in the forecast period.  Besides this, competitors are also engaging in strategic collaborations such as merger and acquisitions, joint ventures, contracts and agreements, and others to gain a competitive edge in the market.

Major Industry Developments of this Market include:

• October 2019 – Aptar Pharma launched a new drug delivery device for treating migraines. It is a patented Unidos Liquid System called Tosymra and will aid in migraine issues prevalent in the U.S.

Major Players Operating in this Market include:

• Pfizer Inc.


• SHL Medical AG.


• Nemera


• Insulet Corporation


• West Pharmaceutical Services Inc.


• Aptar Pharma


• Emergent Biosolutions Inc.


• Consort Medical plc


• Emergent Biosolutions, Inc.


• BD


• Others

Further Report Findings

• North America emerged dominant and earned a revenue of USD 428.0 billion in 2018 owing to increasing number of patient population adopting drug delivery devices.


• On the other side, the Europe market will hold a significant market share in the coming years on account of the rising penetration of large pharmaceutical companies and the increasing burden of disease in the region.


• As per current Drug Delivery Market trends, the conventional segment will dominate market, based on segmentation by type. This is attributable to the increasing demand for nebulizers, injectables, inhalers, and others.

This Market is categorized into: