Drugs are administered directly into the body through infusion, injections, or through the other drug delivery devices. Drug delivery devices are devices used to inject the therapeutic substances in the body by a specific route of administration that depends on the type of disease, available products and desired effect. Various drug formulations including insulin and antibiotics are administered via drug delivery devices. These devices help in growing the efficiency of the drug delivery system by controlling dosage, time, and place of release of the drugs in the body. Drug delivery devices may be implantable or conventional. Infusion pumps like ambulatory infusion pumps, implantable infusion pumps, insulin infusion pumps, enteral pumps, and volumetric infusion pumps are some of the key drug delivery devices used to administer the drugs in medical systems.
As per study, “Drug Delivery Devices Global Market Report 2020-30: Covid 19 Implications and Growth” the key companies operating in the global drug delivery devices market include Pfizer Inc.; Baxter International; BD.; F. Hoffmann-La Roche Ltd; 3M Company; Novartis AG; Bayer AG; GlaxoSmithKline plc; Gerresheimer AG; Johnson & Johnson Services, Inc.; B. Braun Melsungen AG; Antares Pharma; Sulzer Ltd; Sanofi; Cipla Inc.; Boehringer Ingelheim; Novosanis; MEDMIX Systems AG; OraSure Technologies, Inc.; Enable Injections; Merck & Co., Inc.; Insulet Corporation; West Pharmaceutical Services, Inc.; ViVO Smart Medical Devices Ltd.; SMC Ltd.; Smith Medical; Abbott Laboratories; CareFusion Corporation; Nipro Corporation; Catalent; Allergan.
By route of administration, drug delivery devices market is segregated into injectable drug delivery, oral drug delivery, topical drug delivery, pulmonary drug delivery, ocular drug delivery, nasal drug delivery, implantable drug delivery and transmucosal drug delivery. Based on application, market is categorized as diabetes, respiratory diseases, infectious diseases, cancer, cardiovascular diseases, central nervous system disorders, autoimmune diseases and others. In addition, by route of end-user, market is segregated into ambulatory surgery centers/clinics; hospitals & diagnostic centers, home care settings and others. Ambulatory surgery centers segment holds major share in global market owing to increase in number of ambulatory surgical centers. Additionally, the hospitals & diagnostic center segment is anticipated to witness higher growth rate due to rise in the prevalence of chronic disorders that need treatment which includes the use of drug delivery devices during the forecast period.
The drug delivery devices market is driven by growth in technological advancements, followed by rise in geriatric population, increase in demand for improved drug delivery systems and growth in improvement in healthcare facilities in various countries. However, lack of skilled or trained professionals to administer drugs and stringent regulatory requirements for approval of drug delivery devices may impact the market. Moreover, high growth potential in developing economies is a key opportunity for market.
By geography, the global drug delivery devices market is segregated into North-America, Asia-Pacific, Europe and rest of the world. The North-American region dominates the global market owing to increase in biologics in the drug delivery market and growth of the patient compliance to invent the drug delivery advancements across the region. The Europe and Asia-Pacific regions are estimated to exhibit substantial growth rate due to increase in number of noticeable players over the forecast period. It is anticipated that future of the global drug delivery devices market will be bright caused by rise in incidences of chronic diseases including cancer, respiratory allergies, and diabetes during the forecast period.
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Ankur Gupta, Head Marketing & Communications