Global Drug Delivery Technology Market Size, Share, and COVID-19 Impact Analysis, By Device Type (Conventional & Advanced), By Product Type (Oral Drug Delivery, Pulmonary Drug Delivery, Inhalation Drug Delivery, Injectable Drug Delivery, Ocular Drug Delivery, Nasal Drug Delivery & Others), By Injector Type (Disposable, Reusable), By End-User (Hospitals, Clinics, Diagnostic Centers, Home Care Settings & Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022-2030
KEY MARKET INSIGHTS
The global drug delivery technology market was valued at USD 34.7 billion in 2021. The market is projected to grow USD 71.7 billion in 2030, at a CAGR of 8.5%. The drug delivery system is a device that allows a medicine to be introduced into the body and increases its efficacy and safety by regulating the rate, time, and location of drug release. Drug delivery devices without pharmaceuticals, such as auto-injectors, jet-injectors, and syringes, are included in the systems. Drug delivery system manufacturers sell their goods to pharmaceutical firms or to customers through a variety of pharmacies, including retail, hospital, and diagnostic centers pharmacies.
The COVID-19 epidemic has had a positive impact on the market for drug delivery technology market. Due to the protracted lockdown and suspension of activities, the global drug delivery technology industry has been severely impacted. The influence of COVID-19 is predicted to result in significant market growth during the forecast years. This is due to a huge increase in COVID-19 vaccination around the world, as well as a major acceleration in the creation of injectable drug delivery systems by manufacturers. In comparison to 2020, the market increased by 26.2 percent in 2021. However, compared to 2019, the market grew at a slower pace in 2020. Reduced hospital admissions owing to COVID-19 and supply chain problems around the world contributed to the poor increase in 2020. The decrease in hospital and clinic visits during COVID-19 raises the desire for safe and simple homecare alternatives, which can be delivered utilizing self-injection devices. The market's top manufacturers have also created improved medicine delivery devices that can be self-administered in the comfort of one's own home.
Growing Home-Based Healthcare Fueling the Need for Prefilled Self-Injection Devices
The drug delivery industry and pharma packaging has been focusing with rapid innovation. Medical advancement and patient prefer home is in turn creating demand for drug delivery devices. For instance, in October 2020, Ypsomed has launched YpsoMate Zero which is a prefilled auto-injector device with zero carbon emission. This device uses alternative materials which focus on lowering the impact of chronic diseases.
Increasing Prevalence of E-Commerce to Propel the Demand of Drug Delivery Technology
People prefer purchasing over hospitals and retail pharmacies due to the outbreak of COVID-19 epidemic. Shifting towards e-commerce purchasing is likely to boost the demand of drug delivery technology as it offers huge variety and convenient according to the needs. Few players have also started offering their products through e-commerce channels including Amazon, Medtronic amongst others.
Rising Incidences of Advanced Diabetes Among Geriatric Population
The rising cases of chronic diseases are likely to fuel the growth of the global drug delivery technology market. According to the PLOS journal, in Australia 83% of women reported chronic disease aged over 65 years and 43% reported less than 45 years. Hence, the increasing prevalence of chronic diseases such as diabetes across successive generations. Advanced diabetes is most common among geriatric population, according to WHO.
Increasing Chronic Diseases Among Population
The rising incidence and prevalence of diseases, as well as vast patient pools around the world, is a major driver driving the growth of the drug delivery technology market over the forecast period. Furthermore, factors like as an increase in the number of clinical trials, increased investments by important players in the region, and cheap labor costs all contribute to the market's overall expansion. Prevalence of chronic diseases rises, necessitating novel drug delivery systems for treatment. The emergence of new technologies and an increase in research and development efforts are projected to move the market forward.
High Costs of Insulin Injection Devices Limiting the Market Growth
The huge costs of insulin injection devices are likely to hamper the growth of the global drug delivery technology market. The fluctuating dollar has pushed prices of basal insulin, insulin pen, cartridges and hence pushing the medical bills of diabetics across the world.
The global Drug Delivery Technology market is segmented by Device Type (Conventional & Advanced), By Product Type (Oral Drug Delivery, Pulmonary Drug Delivery, Inhalation Drug Delivery, Injectable Drug Delivery, Ocular Drug Delivery, Nasal Drug Delivery, & Others), By Injector Type (Disposable, Reusable), By End-User (Hospitals, Clinics, Diagnostic Centers, Home Care Settings & Others) and Region. Based on the disease product type, the market is categorized into conventional & advanced. Based on product type, the market is categorized into oral drug delivery, inhalation drug delivery, pulmonary drug delivery, injectable drug delivery, ocular drug delivery, nasal drug delivery & others. Based on injector type, the market is categorized into disposable, reusable. Based on end-user, the market is categorized into hospitals, clinics, diagnostic centers, home care settings & others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
By Device Type
Based on disease product type, the market is categorized into conventional & advanced. The conventional segment is expected to dominate the market share of global drug delivery technology market owing to increased demand for biosimilar products and the cheap cost of devices, this segment has the largest share. Furthermore, the increased prevalence of chronic diseases such as asthma and diabetes, as well as cardiovascular diseases (CVD), is predicted to increase demand for traditional systems, particularly in developing nations, where traditional systems are more prevalent than sophisticated systems. According to a report published by NCBI in June 2021, the prevalence of at least one chronic disease was above 43% in the Southeast region of Brazil, which is projected to drive the adoption of traditional systems over the forecasted period.
By Product Type
Based on product type, the market is categorized into oral drug delivery, pulmonary drug delivery, inhalation drug delivery, injectable drug delivery, ocular drug delivery, nasal drug delivery, others. The inhalation drug delivery range segment is expected to dominate the market share of global drug delivery technology market owing to growing usage of inhalers is expanding in tandem with the prevalence of respiratory illnesses like asthma and other bronchial conditions. Furthermore, the main players' increased product introductions of inhalation systems in the market are likely to fuel market growth throughout the forecast period.
The injectable drug delivery segment is anticipating over the forecasting years of global drug delivery technology market due to increasing product launches are likely to increase as demand for wearable injectable systems for drug delivery grows, resulting in segmental expansion. Furthermore, the growing vaccination drive around the world, which is driving up demand for syringes, is likely to fuel segmental growth soon.
By Injector Type
Based on injector type, the market is categorized into disposable, reusable. The reusable is expected to dominate the market share of global drug delivery technology market owing to the therapeutic benefit of these medications is increased by auto-injector drug delivery devices, which is driving sales of reusable injectors. Biological and biosimilar medications are delicate proteins that must be administered via injection. The therapeutic benefit of these medications is increased by auto-injector drug delivery devices, which is driving sales of reusable injectors. Manufacturers of reusable injectable medication delivery devices can benefit from the rise in demand for linked devices and the high cost of such devices.
Based on end-user, the market is categorized into hospitals, clinics, diagnostic centers, home care settings & others. The hospital segment is expected to dominate the market share of global drug delivery technology market owing to the easy availability and hence increases the customer bases across the pharmacies of hospitals. The number of patients visiting hospitals rises, so does the distribution of drug delivery systems from hospital pharmacies. The growing number of hospitals in various nations is predicted to boost the segmental growth by increasing the distribution of these systems through hospital pharmacies.
The global drug delivery technology market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America region is expected to dominate the market share of global drug delivery technology market owing to because of the growing geriatric population, advancements in the pharmaceutical sector, and an increase in the number of diabetic individuals The market is growing because of rising R&D investments in diabetic supplements. North American market participants are focused on a variety of techniques to improve their market position. The rapid expansion of the US government's COVID-19 immunization effort, which resulted in increased demand for syringes, is one of the contributing reasons. Furthermore, increasing demand for drug delivery systems is likely to boost market expansion in North America during the forecast period, owing to an increase in hospital admissions in the region. Other factors that are projected to fuel market expansion in the region include increased demand for improved drug delivery systems such as metered-dose inhalers and sensor-embedded devices, as well as the rising incidence of chronic diseases.
However, Europe region is expected to witness highest growth rate during the forecast period of global drug delivery technology market due to the increase is attributed to a growing knowledge of improved medication delivery methods and an increase in the region's acceptance of advanced products. Clinical studies for important regulatory approvals for new medications, as well as the introduction of new products by key competitors, are projected to boost regional market expansion. For instance, Medtronic launched its prolonged infusion set, an insulin delivery device that may be worn for up to seven days, in select European nations in April 2021.
- Gerresheimer AG
- Kindeva Drug Delivery L.P.
- West Pharmaceutical Services, Inc.
- Ypsomed AG
- Pfizer Inc.
- Koch Industries (Phillips-Medisize)
- Renesas Electronics Corporation
- E3D Elcam Drug Delivery Devices
KEY INDUSTRY DEVELOPMENTS:
December 2020, FDA approval for BRAFTOVI (encorafenib) plus combination with cetuximab for the treatment of patients with metastatic brafv600e-mutant colorectal cancer (CRC) who have received prior therapy was granted to Pfizer, Inc.
November 2020, GlaxoSmithKline plc. teamed up with IDEAYA to enter the field of synthetic lethality, which is still developing in oncology. The clinical trials for its initiatives MAT2A, Pol Theta, and Werner Helicase are expected to begin within the next three years.
By Device Type
By Product Type
- Oral Drug Delivery
- Pulmonary Drug Delivery
- Inhalation Drug Delivery
- Injectable Drug Delivery
- Ocular Drug Delivery
- Nasal Drug Delivery
By Injector Type
- Diagnostic Centers
- Home Care Settings
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy
- Asia-Pacific- China, Japan, India
- Latin America- Brazil, Argentina, Colombia
- The Middle East and Africa- United Arab Emirates, Saudi Arabia