The drug delivery system market was valued at US$ 1,243,111.7 million in 2018 and it is projected to reach US$ 2,302,227.2 million in 2027; it is expected to grow at a CAGR of 7.2% from 2019 to 2027.
Analyst Perspective:
The global drug delivery system market is significantly driven by the rising prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer, coupled with technological advancements in the manufacturing and development of innovative devices for pharmaceutical drug delivery. Diabetes is a prominent reason behind kidney failure, heart attacks, blindness, and stroke. Therefore, the rapidly growing prevalence of various chronic diseases across the globe is significantly boosting the demand for various innovative drugs for treatment, which augments the drug delivery system market growth.
The rapidly growing biopharmaceutical industry and the development of various new and innovative drugs are significantly driving the growth of the drug delivery system market. The growing investments by the top pharmaceutical manufacturers in the research and development of new drugs to treat incurable diseases are augmenting the need for various pharmaceutical drug delivery solutions around the globe. Furthermore, several top market players in the drug delivery system market and the key developmental strategies such as product launches, mergers & acquisitions, and partnerships they adopted significantly drive the market growth. Therefore, the rising penetration of drug and gene delivery device companies across the globe is boosting the market growth.
Market Overview:
A drug delivery system (DDS) is a formulation or a device that enables the introduction of a therapeutic substance into the body that improves its efficacy and safety by controlling the rate, time, and place of release of drugs into the body. Drug delivery systems have substantially evolved over the last six decades. In the last 12 years majorly, there have been huge advancements in drug delivery technology. For instance, advanced medication delivery systems, such as transdermal patches, are able to deliver a drug more selectively to a specific site, which frequently leads to easier, more accurate, and less dosing overall. There are other drug delivery systems used in both medical and home care settings that were developed because of various patient needs, and researchers continue to develop new methods.
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Drug Delivery Systems Market: Strategic Insights
Market Size Value in US$ 1,243,111.7 Million in 2018 Market Size Value by US$ 2,302,227.2 Million by 2027 Growth rate CAGR of 7.2% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Drug Delivery Systems Market: Strategic Insights
| Market Size Value in | US$ 1,243,111.7 Million in 2018 |
| Market Size Value by | US$ 2,302,227.2 Million by 2027 |
| Growth rate | CAGR of 7.2% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Market Driver:
Rising Incidence of Chronic Diseases to Drive Drug Delivery System Market Growth
As drug delivery devices help deliver the drugs, which are beneficial for the targeted population to recover faster, there has been a growing adoption of and inclination toward advanced drug delivery devices. Moreover, a rising number of cancers, respiratory disease, and diabetic patients worldwide may promote the adoption of drug delivery system and drive the overall market. According to the World Health Organization (WHO), cancer is the biggest cause of death worldwide, with approximately 10 million deaths in 2020. Overall, the global burden of cancer incidence and death is quickly increasing. As per the CDC, in 2020, 1,603,844 new cancer cases were reported, and 602,347 people died of cancer in the US. Breast, colorectal, lung, cervical, and thyroid cancers are common among women. In contrast, lung and prostate cancer is the most common among men, accounting for nearly one-third of all male cancers. This growing burden of cancer increases the adoption of drug delivery devices, contributing significantly to the drug delivery system market's growth.
Segmental Analysis:
Based on application, the drug delivery system market is categorized into homecare settings, hospitals & clinics and others. In 2018, hospitals and clinics segment held the major share in the drug delivery system market. The homecare settings segment is expected to register a significant growth in the drug delivery system market during the forecast period. The hospital is a complex organization and an institute that provides health to people through complicated but specialized scientific equipment and team of trained staff educated in the problems of modern medical science. They are all coordinated together for the common goal of restoring and maintain good health. Hospitals serves a significant role by providing extensive range of medical services to the patient population suffering from wide variety of diseases. This increased the adoption of drug delivery systems in hospitals and clinics. For instance, according to Centers for Disease Control and Prevention (CDC), in 2014, a total number of 7.2 million hospital discharges were reported with diabetes in the US among adult population aged 18 years or older. This is expected to increase the treatment process for controlling and treating chronic conditions, which in turn is expected to increase the usage of drug delivery systems in the hospitals.
Regional Analysis:
In North America, US is the largest market for drug delivery system market. The growth of this market is primarily driven by increasing prevalence of chronic diseases like diabetes, asthma and others, growing number of product launches by key players; and increasing use of drug delivery devices for disease management. According to the National Center for Health Statistics, in 2023, 1.9 million new cancer cases and 609,820 cancer deaths are projected to occur in the US, and cancer cases are further expected to increase in the country, which is expected to increase the demand for the drug delivery systems for various therapeutics as demand for cancer treatment is quite high in the region owing to the high mortality rate associated with the disease, which is expected to boost growth in the drug delivery system market.
The launch of new products in the country will also help drive drug delivery system market growth. For instance, in February 2022, the US FDA approved the generic Apokyn (apomorphine hydrochloride injection) drug cartridges to treat hypomobility and other episodes associated with advanced Parkinson’s disease. In January 2021, Novartis AG invested in Credence MedSystems to support the development and scale-up of its drug delivery systems. This initiative facilitates Novartis AG's use of Credence technology in its injectable medicines. Similarly, in November 2020, Croda International PLC entered into an agreement with Pfizer Inc. to supply innovative drug delivery systems for Pfizer’s COVID-19 vaccine candidate.
Furthermore, in March 2022, Corium received US FDA approval for Adlarity to treat patients with mild, moderate, or severe dementia associated with Alzheimer’s. The launch of transdermal patches in the country is expected to boost the studied market during the study period. Moreover, strategic initiatives by market players, such as partnerships and collaborations for increasing the production of drug delivery devices, would lead to lucrative market growth. For instance, in May 2020, the Department of Defense and the United States Department of Health and Human Services awarded a contract worth USD 138 million to ApiJect Systems America for "Project Jumpstart" and "RAPID USA," which will work together to expand the United States' production capability of medical-grade injection devices.
Key Player Analysis:
The drug delivery system market analysis consists of players, such as BD, 3M, Novo Nordisk A/S, BD, Novo Nordisk A/S, 3M, Boston Scientific Corporation, Bausch Health Companies Inc., Baxter International, Inc., Boehringer Ingelheim, Novartis AG, GlaxoSmithKline plc. and Johnson & Johnson Services, Inc. Among the players in the drug delivery system market, 3M and BD are the top two players owing to the diversified product portfolio offered.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the drug delivery system market. A few recent key market developments are listed below:
- In June 2022, Gufic Biosciences Ltd launched a new drug delivery system, Dual Chamber Bags, at affordable prices for the first time in India. One of the most important USPs of these ready-to-use Dual Chamber Bags by Gufic is that they prevent contamination and protects the potency and efficacy of the drug. These bags also offer ease of handling at the time of reconstitution and also help in avoiding the dilution errors since the drug is present with the exact required quantity of the diluent to be used.
- In February 2022, Takeda received US FDA approval for TAKHZYRO (lanadelumab-flyo) injection in a single-dose prefilled syringe (PFS), which is used to prevent attacks of hereditary angioedema (HAE) in adult and pediatric patients 12 years of age and older. The PFS is ready to use and requires fewer preparation steps than the current TAKHZYRO vial injection, while also reducing supplies and waste.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Route of Administration, Distribution Channel, Application and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The List of Companies
- BD (Becton Dickinson & Company)
- Boston Scientific Corporation
- Novo Nordisk A/S
- Bausch Health Companies Inc.
- Baxter International, Inc.
- Boehringer Ingelheim
- Novartis AG
- GlaxoSmithKline plc.
- Johnson & Johnson Services, Inc.
- Terumo Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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