The Global Drug Delivery Market Size is primarily driven by the increasing demand for technological advanced products that are used for drug delivery, and increased number of chronic diseases in the increasing number of geriatric population.
Drug delivery is referred as drug administration in the human body through injections or various other devices. Drug delivery devices are used to inject the therapeutic substances in the body with the help of various routes. These routes of administration depend on the type of disease that a patient suffers, and nature of the drug that is available. Drugs help in improving and extending once life by properly diagnosing the disease. Recently, drug delivery includes the targeted delivery which specially focuses on the target area of the body. In order to achieve efficiency, the targeted drugs act effectively work without creating any side effects to other body parts.
Drug delivery devices also play an important role as they are conventional and implantable. The devices not only help the efficiency but also enhance the accuracy for drug delivery. For instance, the device can help in accurately administrating the drugs like insulin, the devices used are infusion catheters namely valves, set, needles, cannulas and many more. Transcellular and paracellular are most commonly used routes for drug administration. The practice for drug delivery has changed in past few decades that is creating a good pace for the new and existing manufacturers in the near future.
The drug delivery market is basically driven by the rising prevalence of chronic disease, and increased number of clinical trials that focus on the biologics drugs in the market. Similarly, the rising technological advancements and continuous new product development would also influence the market growth. Moreover, increased government focus on improving the efficiency and safety of drugs will drive the market significantly in the coming years.
Growing older population, and rising risk of skin allergies are the key factors driving the drug delivery market. On the other hand, increased demand for effective and efficient drug delivery system and rising number of diabetic patients would also positively influence the drug delivery market during the forecast period.
However, some regulatory framework issues and strict regulatory for approval of drugs delivery devices and drugs available in the market are the factors hampering the drug delivery market.
The global drug delivery market size is segmented on the basis of route of administration, product, end use and geography.
On the basis of route of administration, the global drug delivery market size is segmented as:
On the basis of product development, the global drug delivery market share is segmented as:
On the basis of end use, the global drug delivery market size is segmented as:
Geographically, the drug delivery market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
On the basis of geography, North America is expected to dominate the global drug delivery market over forecast period. Rising prevalence of diabetes and other life style disorders is the major factor driving the market. Furthermore, rising awareness for the use of targeted drug delivery, and increasing government expenditure towards research & development of new drugs, and presence of major key players in this region would also influence the drug delivery market in North America.
However, Asia Pacific market is estimated to grow rapidly during the forecast period. Increasing number of diabetic population, availability of treatment drugs at an economic cost, and increasing disposable income in this region are the major factor anticipated to govern the drug delivery market during upcoming years.