Healthcare & Pharmaceutical

Drug Delivery Devices Market Segmentation by Device Type (Smart Pills, Inhalers, Drug Eluting Stents, Safety Syringes, Implantable Drug Delivery Device, Transdermal Patches, and Others); by Route of Administration (Oral, Transdermal, Injectable, and Others); and by Distribution Channel (Hospital, Pharmacies, Surgical Centers, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.

In The News

  • July, 2021: Janssen Pharmaceutical Inc., a subsidiary company of Johnson & Johnson announced the FDA approval of drug Darzalex Faspro for treatment of Multiple Myeloma Cancer.

  • June, 2020: IDEAYA Biosciences, Inc. and GlaxoSmithKline plc. (GSK) announced a strategic partnership to develop solutions in the field of Oncology. 

Drug Delivery Devices Market
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Most Common Causes of Cancer Deaths (Number of Deaths), World, 2020

Key Questions Answered in the Report

1) What are the major factors driving the growth of the drug delivery devices market?

Ans: The increasing need for targeted drug delivery to treat cancer is estimated to boost the market growth.

2) What would be the CAGR of drug delivery devices market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~5.5% over the forecast period, i.e., 2022 – 2031.

4) Which region will provide more business opportunities for growth of drug delivery devices market in future?

Ans: The North America region is anticipated to provide more business opportunities over the forecast period owing to the advancement in technology in the healthcare sector.

5) Who are the major players dominating the drug delivery devices market?

Ans: The major players in the market are Mylan N.V., Novartis International AG, Sanofi S.A., GlaxoSmithKline plc, Merck & Co., Inc., Otsuka Pharmaceutical Co., Ltd., Abbott Laboratories, Cipla Limited, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the drug delivery devices market?

Ans: The market is segmented by devices type, route of administration, distribution channel, and by region.

8) Which sub-segment captures the largest market size in device type segment in the drug delivery devices market?

Ans: The smart pills segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.

8) What are the challenges affecting the market growth?

Ans: Increasing adoption of generic drugs is estimated to hamper the market growth.

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