Pune, India, July 20, 2023 (GLOBE NEWSWIRE) — According to The Insight Partners latest study on “Drug Delivery Systems Market Revenue Report, Forecast to 2027 – COVID-19 Impact and Global Analysis – by Route of Administration; Distribution Channel; Application and Geography,” the market size is valued at $2302.22 billion in 2027 from $1243.11 billion in 2018; it is estimated to grow with a CAGR of 7.2% from 2019 to 2027. By route of administration, in 2018, the oral segment held largest share of the market. However, the transmucosal segment to register the highest CAGR during 2019-2027.
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Global Drug Delivery Systems Market – Report Scope:
| Report Coverage | Details |
| Market Size Value in | $1243.11 Billion in 2018 |
| Market Size Value by | $2302.22 Billion by 2027 |
| Growth rate | CAGR of 7.2% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
| No. of Pages | 343 |
| No. of Tables | 220 |
| No. of Charts & Figures | 58 |
| Historical data available | Yes |
| Segments covered | Route of Administration; Distribution Channel; Application and Geography |
Global Drug Delivery Systems Market: Competitive Landscape and Key Developments
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 are among the leading companies operating in the drug delivery system market. These players are focusing on expanding and diversifying their market presence and acquiring a novel customer base, thereby tapping prevailing business opportunities in the drug delivery system market. Many market players are launching their innovative products in the drug delivery system market with advanced features.
In May 2021, Phillips-Medisize launched its Aria Smart Autoinjector platform, which unlocked innovation, differentiation, and sustainability in the digital drug-delivery device market. This device features advanced technologies such as a modular drug delivery platform that supports a variety of drug formulations and viscosities and has built-in Bluetooth, which enables connectivity to smartphones, tablets, and mobile apps.
Browse key market insights spread across 343 pages with 220 list of tables & 58 list of figures from the report, “Drug Delivery Systems Market to 2027- Global Analysis and Forecasts by Route of Administration (Oral, Transmucosal, Injectable, Topical, Implantable, and Ocular); Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies); Application (Hospitals & Clinics, Home Care Settings, and Others) and Geography” in detail along with the table of contents: https://www.theinsightpartners.com/reports/drug-delivery-devices-market
Increasing Patient Compliance to Offer Opportunities for Global Drug Delivery Systems Market Growth During 2019-2027:
Patient compliance is a big concern among physicians and medical device manufacturers. Hence, manufacturers are focusing on developing drug delivery systems that are user-friendly, are intuitive to use, and which also provides high patient comfort. For example, Novo Nordisk has developed FlexTouch insulin pen which requires very less force to inject, an end-of-dose click to ensure accurate dose delivery, as well as a thin needle to reduce pain while injecting. Similarly, the main problem with nasal sprays is that it trickles down the throat, hence OptiNose has developed an innovative inhaler that traps the medication in the nasal cavity. Companies are also increasing convenience for patients by enabling them to use the same device they have become comfortable and familiar with to treat new indications. For instance, Breo Ellipta inhaler by GlaxoSmithKline is also used for the treating asthma, in addition to its initial indication as a once-a-day respiratory inhaler. Furthermore, companies are developing devices that would allow the transfer of more viscous drug products; larger molecules and higher dose concentrations are often more difficult and painful to inject through manual delivery methods. Therefore, these innovative products improve patient adherence and reduce the chances of medication errors. Thus, increasing patient compliance and patient satisfaction, poses several opportunities for the market to grow during the forecast period.
Global Drug Delivery Systems Market: Segmental Overview
The drug delivery system market, by distribution channel was segmented into hospital pharmacies, retail pharmacies, and online pharmacies. In 2018, hospital pharmacies segment held the major share in the drug delivery systems market. The hospitals & clinics segment is expected to register a significant growth in the drug delivery systems market during the forecast period. Pharmacies which are found in the hospital premises are known as hospital pharmacies. Hospital pharmacies usually stock a larger range of medications, including more specialized and investigational medications (medicines that are being studied, but have not yet been approved), than would be feasible in the community setting. Hospital pharmacies typically provide medications for the hospitalized patients only, and are not retail establishments and therefore typically do not provide prescription service to the public. Thus, the inclination of patients towards hospital pharmacies due to the ease of availability is expected to drive the growth of this market.
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