Rapid development in drug development technologies is expected to drive the growth of Europe drug delivery devices market
According to TechSci Research report, “Europe Drug Delivery Devices Market By Route of Administration (Oral Drug Delivery, Injectable Drug Delivery, Topical Drug Delivery, Ocular Drug Delivery, Pulmonary Drug Delivery, Others), By Device (Syringes, Inhalers, Patch Pumps, And Others), By Patient Care Setting (Hospitals, Diagnostic Centers, Ambulatory Surgery Centers/Clinics, Home Care Settings, Others), By Application (Cancer, Infectious Diseases, Respiratory Diseases, Diabetes, Others), By Country, Competition, Forecast & Opportunities, 2025”, Europe drug delivery devices market is expected to witness a substantial growth during the forecast period. Growth in the number of diabetes patients is one of the major factors accounting for the growth of Europe drug delivery devices market. Moreover, development of nanotechnology, radiotherapy devices, and digital mode devices is expected to bode well for the growth of Europe drug delivery devices market through the forecast period. In addition to this, rise in the incidence of cancer and respiratory diseases among the population are driving the use of drug delivery devices among patients and physicians, which is projected to positively influence the growth of Europe drug delivery devices market in the years to come. Also, increase in funding for drug research by the government, is further making headway for the growth of Europe drug delivery devices market. However, there are some factors that might act as major impediments to the growth of Europe drug delivery devices market through 2025 including increase in complications and expertise required in delivering therapeutics and drugs through these devices.
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Europe drug delivery devices market can be segmented based on route of administration, device, patient care setting, application, company, and region. Based on route of administration, the market can be categorized into oral drug delivery, injectable drug delivery, topical drug delivery, ocular drug delivery, pulmonary drug delivery, nasal drug delivery, transmucosal drug delivery, and implantable drug delivery. Out of which, the topical drug delivery segment dominated the market until 2019 and is expected to maintain its dominance during the forecast period as well which can be attributed to certain advantages associated with this route of administration, such as convenience and ease of use, painless and noninvasive delivery, right dosage to the right place, superior spreadability, and enhanced patient compliance. Considering the patient care setting, the market is fragmented into hospitals, diagnostic centers, ambulatory surgery centers/clinics, home care settings, and others. Among these, the hospitals segment dominated the Europe drug delivery devices market until 2019 and is further anticipated to maintain its dominance during the forecast period as well. This high growth can be attributed to the significant number of inpatient and outpatient visits to hospitals and requirement of large volumes of drugs and their respective delivery devices to accommodate to the demand of the large patient pool.
F. Hoffmann-La Roche Ltd, Antares Pharma, Novartis AG, 3M Company, Sulzer Ltd, Gerresheimer AG, Sanofi S.A., Johnson & Johnson Services, Inc., Bayer AG, GlaxoSmithKline plc, Novosanis, MEDMIX SYSTEMS AG, Merck & Co., Inc., Pfizer Inc., Insulet Corporation, OraSure Technologies, Inc., West Pharmaceutical Services, Inc., SMC Ltd., ViVO Smart Medical Devices Ltd., Cipla Inc, are among others are the leading players operating in Europe drug delivery devices market. The players are adopting several growth strategies to enhance the market scenario of drug delivery devices. Other competitive strategies include new technological developments; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diverse their product portfolio in order to strengthen their market position.
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“Europe drug delivery devices market is anticipated to register high growth during the next 5 years on account of favorable government policies regarding health care infrastructure. Furthermore, rise in awareness about diabetes, cancer, and other major chronic diseases is anticipated to boost the market growth for drug delivery devices over the coming years. Additionally, high incidence of chronic diseases due to environmental conditions in the region is further projected to bolster the market growth for drug delivery devices through 2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Europe management consulting firm.
“Europe Drug Delivery Devices Market By Route of Administration (Oral Drug Delivery, Injectable Drug Delivery, Topical Drug Delivery, Ocular Drug Delivery, Pulmonary Drug Delivery, Others), By Device (Syringes, Inhalers, Patch Pumps, And Others), By Patient Care Setting (Hospitals, Diagnostic Centers, Ambulatory Surgery Centers/Clinics, Home Care Settings, Others), By Application (Cancer, Infectious Diseases, Respiratory Diseases, Diabetes, Others), By Country, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Europe drug delivery devices market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Europe drug delivery devices market.
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