Research Nester published a report titled “Drug Delivery Devices Market: Global Demand Analysis Opportunity Outlook 2031” which delivers detailed overview of the global drug delivery devices market in terms of market segmentation by device type, route of administration, distribution channel, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global drug delivery devices market is anticipated to attain a CAGR of ~5.5% over the forecast period, i.e., 2022 – 2031. On the basis of route of administration, the market is segmented into oral, transdermal, injectable, and others. Out of these, the injectable segment is estimated to garner notable share over the forecast period, on account of the ease and higher chance of successful implantation of injectable devices for drug delivery.  

The global drug delivery devices market is estimated to grow on the back of increasing demand for targeted drug delivery to treat various diseases, including, cancer. Moreover, growing adoption of technology in healthcare sector is estimated to fuel the growth of the market. Furthermore, increase global health expenditure is bound to positively impact the market growth. As per the statistics by the World Bank, 9.856% of the global GDP was spent on healthcare, in 2018. Along with this, the increasing cases of cancer mortality, combined with rising prevalence of cancer are anticipated to propel the market growth.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Increasing Cancer Prevalence to Boost the Market Growth

According to the data by the World Health Organization (WHO), nearly 10 million deaths were caused by cancer in 2020.

Targeted drug therapy is one of the most common treatment approaches to target cancerous growth. The increasing implementation of targeted drug delivery for cancer treatment is estimated to boost the market growth. Moreover, the escalating incidences of cancer globally, is further expected to boost the market growth.

However, risks of needle stick injuries are expected to operate as key restraint to the growth of global drug delivery devices market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global drug delivery devices market which includes company profiling of Mylan N.V., Antares Pharma, Inc., Novartis International AG, Sanofi S.A., GlaxoSmithKline plc, Merck Co., Inc., Otsuka Pharmaceutical Co., Ltd., Abbott Laboratories, Cipla Limited, Teva Pharmaceutical Industries Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global drug delivery devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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