New York, USA, Oct. 20, 2022 (GLOBE NEWSWIRE) -- According to Strategic Market Research, the Global Drug Delivery Devices Market size in 2021 was USD 239.2 billion, and by 2030 it will be USD 340.45 billion, with a 7.1% CAGR. The formulations, strategies, and techniques used to deliver chemical substances or drugs inside the body are referred to as drug delivery. This is used to treat, diagnose, cure, or prevent several diseases, including diabetes, gastrointestinal disorders, bacterial and viral infections, and allergies. The materials most frequently used to produce drug delivery systems include ethylene vinyl acetate, silicone, polyurethane, acrylate hydrogels, and other biodegradable materials.

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Drug Delivery Devices Market Insights: 

Factors accelerating the Drug Delivery Devices Market growth: 

The increasing incidence of chronic diseases and the biopharmaceutical industry's growth are driving the market's expansion.

Drug Delivery Devices Market: A thorough Segmentation Analysis

The worldwide Drug Delivery Devices Market segmentation has been performed on the basis of route of administration, Application, End-user, and region.

By Route of Administration:

By Application:

By End-User

By Region

North America

Europe

Asia Pacific

LAMEA

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By route of administration, the oral segment ruled the overall drug delivery devices market in 2020. This is due to the growing popularity of oral drug delivery because it is painless, patient-friendly, non-invasive, cost-effective, and self-administered. Furthermore, most medicines are available in tablet, powder, and liquid forms and are typically administered orally. Therefore, the enormous availability of oral medications has accelerated the segment's growth.

In 2020, the cancer segment held a significant position in the market on the basis of application. The increased incidence of cancer is the main factor stimulating the growth of this market segment. Worldwide cancer cases are estimated to increase by 47% between 2020 and 2040. Globally, 28.4 million cases are predicted to be reported in 2040. Therefore, the main drivers of this market are the rising prevalence of different cancers like breast, lung, womb, and bowel cancer. 
It is predicted that the cardiovascular segment will be the fastest-growing market segment during the projected time. This market segment is expanding as a result of the rising occurrence of CVDs in the population due to unhealthy eating habits and inactivity.

On the basis of end-user, in 2020, the hospital segment ruled the market with the largest market share. The expansion of this market was facilitated by the rising public and private sector investments in hospital construction. Furthermore, the segment's growth is being driven by the increase in hospital admissions rate.

Regionally, North America ruled the overall drug delivery devices market, with a revenue share of around 34% in 2021. This is due to the increasing incidence of chronic diseases in the US, including diabetes, cancer, and CVDs. The US's rising healthcare costs and increased health awareness have accelerated the market's expansion. The growth of drug delivery devices in North America has been significantly aided by the increased awareness of the availability of numerous cutting-edge drug delivery devices, such as pen injectors and wearable injectors.

Report AttributeDetails
Forecast Period2021 - 2030
The market size value in 2021USD 239.2 billion
The revenue forecast in 2030USD 340.45 billion
Growth rateCAGR of 4.0 %
The base year for estimation2021
Historical data2017 – 2020
UnitUSD Billion, CAGR (2021 - 2030)
SegmentationBy Route of Administration, By Application, By End User, By Region
In terms of Route of AdministrationOcular, Oral, Inhalation, Nasal, Injectable, Topical, Others
In Terms of ApplicationDiabetes, Cancer, Infectious Diseases, Cardiovascular, Others
By End-UserAmbulatory Services, Home Healthcare, Hospitals.
By RegionNorth America, Asia Pacific, Europe, and The Rest of the world
Country ScopeCanada, Mexico, US, Germany, the UK, France, India, Japan, China, etc.
Company Usability ProfilesPfizer, Inc, Novartis AG, Bayer AG, Shenzhen (SiBiono) , GeneTech Company Ltd.(Hubei Tongji Benda Ebei Pharma), F. Hoffmann-La Roche, 3M, Johnson & Johnson Services, Antares Pharma, Inc, uniQure N.V,

Drug Delivery Devices Market Report Coverage

Key players in Drug Delivery Devices Market:

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