Asia Pacific Drug Delivery Market
Published On: Aug 2023
Published On: Aug 2023
According to Business Market Insights research, the Asia Pacific drug delivery market was valued at US$ 4,42,973.70 million in 2023 and is expected to reach US$ 6,67,842.74 million by 2028, registering a CAGR of 8.6% from 2023 to 2028. Rising incidence of chronic diseases, growing demand for noninvasive drug delivery systems, and increasing R&D expenditures in pharmaceutical companies are the critical factors attributed to the Asia Pacific drug delivery market expansion.
Low patient compliance is a notable concern among physicians and medical device manufacturers. Hence, manufacturers are focusing on developing user-friendly and intuitive drug delivery systems that provide high patient comfort. Physicians, caregivers, and patients seek more patient-centric solutions, evaluating delivery systems and packaging options to encourage patients to take their medications as directed. Accurately measured doses and easy-to-use packaging with clear labeling are essential to meet today's self-sufficiency needs. The packaging must also be childproof, and it should prohibit counterfeiting. Novo Nordisk has developed a FlexTouch insulin pen that requires less force to inject, an end-of-dose click to ensure accurate dose delivery, and a thin needle to reduce pain while injecting. Further, nasal sprays trickle down the throat, which is one of the main problems with nasal sprays; hence, OptiNose has developed an innovative inhaler that specifically delivers the medication in the nasal cavity. Companies also emphasize increasing convenience for patients by enabling them to use the same device they have become comfortable and familiar with to treat new indications. GlaxoSmithKline offers Breo Ellipta, an inhaler, for treating chronic obstructive pulmonary disease (COPD) and asthma patients, in addition to its initial indication as a once-a-day respiratory inhaler. Some companies are also developing devices that allow the transfer of more viscous drug products, larger molecules, and higher dose concentrations that are often difficult and painful to inject through manual delivery methods. Such innovative products help in improving patient compliance and reduce the chances of medication errors. Thus, the growing focus on patient compliance and satisfaction provides significant opportunities for the growth of the drug delivery systems market.
On the contrary, high cost associated with development of drugs and delivery systems hampers the Asia Pacific Drug Delivery Market.
Based on route of administration, the Asia Pacific drug delivery market is segmented into injectable drug delivery, oral drug delivery, transmucosal drug delivery, topical drug delivery, implantable drug delivery, and ocular drug delivery. The injectable drug delivery segment held 45.7% share of Asia Pacific Drug Delivery Market in 2023, amassing US$ 2,06,889.24 million. It is projected to garner US$ 2,99,461.68 million by 2028 to expand at 7.7% CAGR during 2023–2028.
Based on distribution channel, the Asia Pacific drug delivery market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held 69.2% share of Asia Pacific Drug Delivery Market in 2023, amassing US$ 3,03,323.95 million. It is projected to garner US$ 4,65,467.84 million by 2028 to expand at 8.9% CAGR during 2023–2028.
Based on end user, the Asia Pacific drug delivery market is segmented into hospitals and clinics, home care settings, and other end user. The hospitals and clinics segment held 55.5% share of Asia Pacific Drug Delivery Market in 2023, amassing US$ 2,41,542.30 million. It is projected to garner US$ 3,74,913.93 million by 2028 to expand at 9.2% CAGR during 2023–2028.
Based on country, the Asia Pacific drug delivery market has been categorized into Japan, China, India, South Korea, Australia, the Rest of Asia Pacific. Our regional analysis states that Germany captured 25.9% share of Asia Pacific Drug Delivery Market in 2023. It was assessed at US$ 1,14,553.00 million in 2023 and is likely to hit US$ 1,77,045.11 million by 2028, exhibiting a CAGR of 9.1% during the forecast period.
Key players dominating the Asia Pacific drug delivery market are Bausch Health Companies Inc; Baxter International Inc; Becton Dickinson and Co; Boehringer Ingelheim International GmbH; Boston Scientific Corp; Gerresheimer AG; GlaxoSmithKline Plc; Johnson & Johnson; Novartis AG; Novo Nordisk AS; and Pfizer Inc, among others.
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