The Asia Pacific drug delivery systems market is expected to reach US$ 441,337.0 Mn in 2027 from US$ 212,012.7 Mn in 2018. The market is estimated to grow with a CAGR of 8.6% from 2019-2027.
The growth of the drug delivery systems market is primarily attributed to the rapid technological advancements in diabetes care devices and increasing rate of obesity. However, increasing reuse of pen needles is likely to pose a negative impact on the market growth. On the other hand, growing medical tourism in the emerging nations is likely to have a positive impact on the growth of the Asia Pacific drug delivery systems market in the coming years.
The advancement in the field of the healthcare industry is driving to the players for more research and developments for the drug delivery systems for the administration purpose required during various medical conditions. The pen needles used in various injection pens have evolved gradually in terms of material, performance, dimensions and safety factors such as sterility and safety packaging. Various manufacturers are coming up with innovative products to sustain in the highly fragmented drug delivery systems market, in the region. Moreover, the easy regulatory approvals in the Asian countries has led to mid-sized companies enter the market and compete with the local and established players. For instance, in May 2018, Hindustan Syringes and Medical Devices (HMD), one of the leading manufacturers of disposable syringes introduced “Dispovan” insulin pen needle which is the first made-in-India disposable pen needle that is technologically efficient and affordable than that of the currently available products in the market. Development of pen needles with precise lubrication to reduce the pain sensation has been another focus of manufacturers during the research. Thus, owing to the above mentioned factors the market for drug delivery systems anticipated to grow rapidly in the forecast period, in the region.
In 2018, the oral segment held a largest market share of 50.2% of the drug delivery systems market, by route of administration. The oral segment is expected to dominate its market share in 2027 owing to ease of drug administration, high degree of flexibility on dosages and cost effectiveness.
In 2018, the hospitals and clinics held a largest market share of 56.0% of the drug delivery systems market, by application. This segment is also expected to dominate the market in 2027 owing to the large number of patient population visiting hospitals and clinics. Also hospitals provide diagnosis and treatment for various medical conditions.
In 2018, the hospitals pharmacies held a largest market share of 68.7% of the drug delivery systems market, by distribution channel. This segment is also expected to dominate the market in 2027 as hospital pharmacies provide larger range of medications, including more specialized and investigational medications.
Some of the major primary and secondary sources for drug delivery systems included in the report are, Chinese Academy of Sciences (CAS), Centers for Diabetes and Endocrinology (CDE), China Initiative for Diabetes Excellence (CIDE), Vision Health Initiative (VHI) and others.