China Drug Delivery Devices Market Size

China Drug Delivery Devices Market Analysis

The China drug delivery devices market is expected to register a CAGR of 9.3% over the forecast period.

• Drug delivery devices were crucial in the early stages of the COVID-19 pandemic as most pharmaceutical companies and governments tried to properly treat COVID-19 patients. For instance, in September 2022, CanSinoBIO received approval for the recombinant COVID-19 vaccine (Convidecia Air) for inhalation delivery in China. Convidecia Air provides a non-invasive option using a nebulizer to change liquid into an aerosol inhalation through the mouth. Thus, the advancements in the delivery of vaccines for COVID-19 significantly impacted the market. However, the market is growing at a stable pace due to a resumption of diagnosis procedures, manufacturing activities, and the availability of products. It is expected to witness a similar trend over the coming years.
• The major factors attributing to the growth of the Chinese drug delivery devices market are the growing burden of chronic diseases and the technological advancements in drug delivery devices. Due to the rising prevalence of chronic diseases, drug delivery systems are becoming more frequently used to enhance patient health and treatment outcomes. For instance, according to the International Diabetes Federation's Diabetes Atlas 2021, in China, there were 140.8 million diabetics in 2021; this number is expected to rise to 164 million by 2030. There is a gradual rise in the prevalence of diabetes in China, which is expected to increase demand for prefilled syringes and autoinjectors during the forecast period.
• Furthermore, as per the article published in the Chinese Medical Journal in March 2022, China is experiencing a greater incidence of cancer. In China, there were about 4.8 million new cases of cancer in 2022, with lung cancer being the most prevalent type. Thus, the greater incidence of cancer has increased the demand for drug-delivery devices. These devices deliver optimal drug doses to targeted cancer sites to enhance drug efficacy and reduce adverse side effects by maintaining drug concentration at a minimum in the targeted cancerous tissues, thereby boosting the market growth.
• The strategic activities by the market players, such as product launches, mergers and acquisitions, and partnerships, are expected to boost the market's growth over the forecast period. For instance, in August 2021, Oyster Point Pharma sold the rights to two nasal sprays for patients with dry eye disease in greater China to Ji Xing Pharmaceuticals for USD 17.5 million upfront. The deal comes ahead of an FDA decision that could make one of the drugs the first nasal spray approved for dry eye disease. Thus, all the aforementioned factors, such as the rising prevalence of chronic diseases and product launches by market players, are expected to boost the market over the forecast period. However, the high cost of development for drug delivery devices may restrain market growth over the forecast period.