North America is Expected to Dominate the "Global Drug Delivery Devices Market – Trends and Forecast to 2022" a New Report by Data Bridge Market Research
Global Drug Delivery Devices Market Trends and Forecast to 2022 - By Route of Administration (Oral, Injectable, Topical, Pulmonary, Nasal, Ocular, Implantable, Transmucosal), By End-User (Hospitals, Ambulatory Surgery Centers/Clinics, Home Care Settings, Diagnostic Centers, Others), By Geography (North America, Europe, Asia-Pacific, Rest of the World)
On the basis of route of administration the market is segmented into oral, injectable, topical, pulmonary, nasal, ocular, implantable and transmucosal. On the basis of end users, the market is segmented into hospitals, Ambulatory surgery centers/clinics, home care settings, diagnostic centers, and others. On the basis of region, it is segmented into North America (further into U.S. and Canada), Europe (Germany, France, U.K., Italy and Spain), Asia and the Rest of the World.
The drug delivery devices market is expected to reach USD 1,323.0 billion by 2020 from USD 950.0 billion in 2015, at a CAGR of 5.0%. The major factors contributing to the growth of the drug delivery market are rising prevalence of chronic diseases, growth of biologics, new product launches, drug innovation, technological advancements, and decrease in the level of pain. On the other hand, factors such as side effects and injuries, infections, safety measures regarding the use of devices used for the administration of drug, patent expiry, product recall and patent cliff hampers the growth of the market.
North America dominates the market and is expected to account for the largest share of 46.1% in 2016. This market to poised to witness the largest share due to the increasing prevalence of chronic diseases, development of biologics and pharmaceutical drugs and devices, increasing patient compliance and patient safety. Asia is expected to grow at a highest CAGR of 7.2% in 2015. This market is expected to witness the highest growth rate due to the increasing elderly population, availability of self-administration, and collaboration of major companies with the emerging markets.
Based on the route of administration, oral drug delivery market dominates the market in 2015 and in the near future injectable drug delivery market will dominate the market with the largest share in the drug delivery market. Topical drug delivery market is considered to be the fastest growing market with the CAGR of 9.3%.
Based on the end users, hospital segment is expected to account for the largest share of the drug delivery market in 2015. Home care settings segment is considered to be the fastest growing market with the CAGR of 5.2%.
The report also includes company share analysis for the major companies operating in this market by major regions North America, Europe and Asia Pacific. The details of mergers & acquisitions, product launches, expansions, and product life cycle matrix is also a part of this report. Some of the players in the market Bayer AG, Johnson & Johnson Services, Inc., Novartis AG, Pfizer, Inc., F. Hoffmann-La Roche AG, GlaxoSmithKline plc. , Merck & Co., Sanofi, Antares Pharma, and 3M.
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