PUBLISHER: Meticulous Research | PRODUCT CODE: 1576638
PUBLISHER: Meticulous Research | PRODUCT CODE: 1576638
The global drug delivery devices market is projected to reach $24.65 billion by 2030, at a CAGR of 7.6% from 2024 to 2030.
Following a comprehensive primary and secondary study and an in-depth analysis of the market scenario, this report provides the key drivers, constraints, challenges, and opportunities of the industry. The growth of this market is driven by the increasing prevalence of chronic diseases, advancements in disease treatment approaches, growing R&D expenditures in the pharmaceutical and biotechnology sectors, and increasing demand for advanced drug delivery systems. However, manufacturing defects and a lack of awareness and education about newer drug delivery systems restrain the market's growth.
Furthermore, emerging economies and technological advancements in drug delivery systems are expected to create market growth opportunities. However, concerns related to biocompatibility and acceptability are some of the challenges impacting the market's growth.
Among the products covered in this report, in 2024, the parenteral drug delivery systems segment is expected to account for the largest share of the market. Parenteral drug delivery systems are an invasive type of route taken to administer drugs directly into the bloodstream without undergoing first-pass metabolism. This segment's significant market share is attributed to its effectiveness in delivering active pharmaceutical substances with low bioavailability and a narrow therapeutic index.
Among the therapeutic areas covered in this report, in 2024, the diabetes segment is expected to account for the largest share of the market. Diabetes is a non-communicable and chronic disease that occurs when the body is not able to produce sufficient insulin or cannot use the produced insulin to regulate the sugar a person consumes. This segment's large market share can be attributed to the rising demand for drug delivery devices such as insulin pumps, insulin pens, wearable glucose monitors, and autoinjectors to regulate and track the insulin levels of diabetic patients.
The key players operating in the global drug delivery devices market are Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), GMP Laboratories of America, Inc. (U.S.), Gemini Pharmaceuticals, Inc. (U.S.), Resyca GmbH (Netherlands), Novartis International AG (Switzerland), Becton, Dickinson, and Company (U.S.), Lifelong Meditech Private Limited (India), Bright Pharma Caps, Inc. (U.S.), Gerresheimer AG (Germany), West Pharmaceutical Services, Inc. (U.S.), Eclam Medical ACS Ltd. (Israel), SMC Ltd. (U.S.), Owen Mumford Limited (U.K.), Haselmeier GmbH (Germany), SHL Medical AG (Switzerland), Ypsomed Holding AG (Switzerland), AptarGroup, Inc. (U.S.), Kindeva Drug Delivery L.P. (U.S.), Nemera Group (France), and Recipharm AB (Sweden).
Drug Delivery Devices Market-by Product
Drug Delivery Devices Market-by Therapeutic Area
Drug Delivery Devices Market-by Geography
(Note: SWOT Analysis of the Top 5 Companies Will Be Provided)