Analysis by Type (Transdermal, Inhalation, Injectable, and Others); by Device Type (Conventional, and Advanced); by Indication (Diabetes, Cardiovascular Disease, Multiple Sclerosis, and Asthma & COPD); and by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
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The global drug delivery systems market is estimated to garner a revenue of ~USD 75.0 billion by the end of 2033 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 40.0 billion in the year 2022. The market growth is primarily driven by increased availability of vaccines for different types of diseases, such as typhoid, tuberculosis, influenza, hepatitis, and others. According to the World Health Organization, in 2021, the global coverage of hepatitis B is around 80%, for haemophilus influenza type B vaccine is nearly 71% and nearly 80% of infants all over the world received polio vaccination.
The cases of chronic disease are constantly rising owing to lifestyle disorders, unhealthy eating habits, and sleeping disorders. According to the World Health Organization, about 17.9 million people are dying of cardiovascular disease every year, and cardiovascular is the primary reason for most of the deaths in the world. In addition, higher demand for COVID-19 vaccines is expected to elevate the growth of the drug delivery systems market. In 2020, owing to rising demand, BD (Becton, Dickinson, and Company) received an order of more than 1 billion injections required for global COVID-19 vaccination.
Based on the WHO, nearly 70 million individuals have been diagnosed with potentially fatal diseases such as HIV. This breakthroughs have compelled health professionals to create effective medicines and delivery systems. In order to address this insufficiency, renowned pharmaceutical and healthcare firms have boosted the production of critical drug delivery systems.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~10% |
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Base Year Market Size (2022) |
~USD 40 Billion |
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Forecast Year Market Size (2033) |
~USD 75 Billion |
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Regional Scope |
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Growth Drivers
Technological Advancement and Innovations in Drug Delivery Systems- The rising development in the technology has always favored market growth such as microneedle arrays are a new technology for delivering medications through the skin. In these arrays, several microscopic needles, each thinner than a strand of hair, are coated or filled with medicine. Moreover, the needles are so small, they penetrate the skin and do not reach the nerves, allowing the drugs to be administered painlessly. Therefore, technological advancement in drug delivery systems is anticipated to boost the market’s growth in the upcoming years. For instance, Medtronic declared the release of Efficio, a cloud-based data management advanced technology application for utilization with the SynchroMed II intrathecal drug delivery systems, in January 2020. This software enabled physicians to handle their specific drug delivery procedures when treating patients with long-term pain, cancer pain, and intense spasticity.
Surge in the Number of People with Chronic Diseases- Rising instances of chronic disease among the population are boosting the demand for drug delivery mediums for salvaging the situation and saving patients from dying. According to the data reported by the National Library of Medicine, globally, every 3 in 5 deaths is caused by cardiovascular disease, cancer, chronic lung problems, and diabetes.
Rapid Covid-19 Vaccination Drive all over the World- There has been a rising demand for syringes owing to increasing COVID-19 vaccinations across the globe. Moreover, it has boosted the production of injectable drug delivery, and it is projected to drive the market’s growth. According to the reported data, globally, 3.87 million vaccinations are done every day, and 12.69 billion doses have been given worldwide.
Growth of Digital Drug Delivery- The rising popularity and importance of digital drug delivery among companies is expected to increase the growth of the global drug delivery systems market. Nearly 60% of people working at a company size of 5000 believe that digital drug delivery technology is crucial.
Challenges
The government has imposed strict mandates to be followed while checking the product in order to ensure efficacy and safety of the product. These stringent rules and regulations might limit the production of a new product or any development of an old product. Therefore, the factor is likely to hamper the market growth.
The global drug delivery systems market is segmented and analyzed for demand and supply by indication into diabetes, cardiovascular diseases, multiple sclerosis, and asthma & COPD. Out of which, the diabetes segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the rising cases of diabetic patients all over the world are expected to propel the growth of the segment. As per the World Health Organization, globally 422 million people are suffering from diabetes. Furthermore, higher usage of insulin injections is projected to boost the growth of the segment. In 2018, there were approximately 150-200 million patients in need of insulin therapy worldwide.
In addition, among the transdermal, inhalation, injectable, and other segments, the injectable segment held the largest market share in 2022 and is expected to increase at the fastest pace during the forthcoming years. This can be attributed to the growing awareness among people related to the wearable injectable drug delivery systems. Furthermore, the growing vaccination drive around the globe, which is driving up the consumption of syringes, is projected to contribute to segmental development in the near future. Becton, Dickinson, and Company (BD), for instance, declared in 2021 that it had obtained pandemic orders for needles and syringes amounting to 2 billion injection equipment to facilitate international COVID-19 vaccination initiatives. The high demand for syringes and needles is predicted to propel segmental growth until the vaccinations are accomplished.
Our in-depth analysis of the global drug delivery systems market includes the following segments:
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By Type |
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By Device Type |
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By Indication |
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By Distribution Channel |
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The North America drug delivery systems market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be ascribed to the higher number of people living with chronic disease in the countries such as United States. According to the Centers for Disease Control and Prevention, in the United States, every 6 in 10 adults have a chronic disease, and every 4 in 10 have more than 1 chronic problem. Rapid vaccination of COVID-19 in the region is further expected to boost North America’s market growth. As of September 2022, 68% of people have completed the initial concord of COVID-19 vaccination. Besides that, extended hospital admissions in the region are anticipated to propel the drug delivery systems market growth in North America during the projected timeline. Based on a CIHI article released in April 2021, over 3 million acute inpatient hospitalizations happened in Canada in 2019-2020. These hospitalizations are predicted to boost the region's requirement for drug delivery systems.
Europe, on the other hand, is expected to hold the second-largest market share in 2021 and to develop at a substantial CAGR throughout the forecast period. This is attributed to the increased acknowledgment of advanced drug delivery systems and the increased adoption of cutting-edge technologies in the region. Furthermore, clinical studies for critical governance authorizations for innovative products, in addition to this, the launch of novel drug delivery systems by prominent stakeholders, are anticipated to propel regional market growth. Medtronic, for instance, launched its prolonged infusion set, an insulin delivery device that can be worn for as long as seven days, in some European nations in April 2021.
BD (Becton, Dickinson and Company)
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Higher growth of digital drug delivery, advancement of technology, strategic merger among the companies and increased cases of chronic disease are few factors likely to propel the market growth.
Ans: The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2023 – 2033.
Ans: The government has imposed strict mandates to be followed while checking the product to ensure its efficacy and safety. This stringent set of rules and regulations may limit the production of new products or any advancements in existing ones. As a result, the factor is likely to stymie market growth.
Ans: The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are BD (Becton, Dickinson and Company), Gerreshelmer AG, Baxter, Nemara, Kindeva Drug Delivery, West Pharmaceutical Services Inc., Ypsomed, Medtronic, E3D Elcam Drug Delivery Devices, AstraZeneca, Merck KGaA, and others.
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.
Ans: The market is segmented by type, device type, indication, distribution channel, and by region.
Ans: The diabetes segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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