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The market is segmented by Route of Administration (Injectable, Topical, Ocular and Others), and End User
India has the second-largest population in the world according to OECD data. With the increasing population, demand for better healthcare facilities has also increased. Newer and efficient ways of drug delivery devices have been positively affected by this demand and hence this market is flourishing in India.
It is not just the growing population, but also the increasing prevalence of chronic diseases that have caused a burden on the Indian population. According to Globocan, there were 11,57,294 new cancer cases reported in 2018 with the major share of breast, lip and oral cavity and cervical cancers respectively. Similarly, according to the National Diabetes and Diabetic Retinopathy Survey report 2015-2019, there are 11.8% prevalent cases of diabetes in India. This has proven to be the major factor for the ease in demand for drug delivery devices. Other factors like technological advancements in the field of drug delivery and demand for controlled release drugs have also affected this market positively.
However, an increase in the risk of infections and side effects from these devices and stringent regulatory guidelines for the approval of drug delivery devices have been restraining the growth of this market.
As per the Scope Drug delivery devices are specialized tools for the delivery of a drug or therapeutic agent via a specific route of administration. These devices are used as part of medical treatments.
|By Route of Administration|
|By End Users|
|Ambulatory Surgical Centers|
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Topical drug delivery devices are estimated to witness healthy growth in the future attributed to several benefits associated with this type of route of administration such as ease of use, painless, noninvasive delivery, convenient and superior spreadability. Moreover, with the increasing prevalence of skin diseases and enhanced patient compliance, the segment growth also increases.
Furthermore, with the advent of novel drug delivery systems, topical drug delivery systems have gained pace, in recent times. topical drug delivery systems have been enhanced by the development of advanced time-controlled drug delivery system, with the help of modern mathematical models, sophisticated instrumentation, and computational power, in order to revolutionize the entire process of formulation. Thus these types of delivery systems are widely adopted in India.
Hence, the aforementioned factors are expected to propel the overall growth of the segment, over the forecast period.
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The market studied in India is moderately competitive and comprises of the international as well as local players. India has been attracting global pharmaceutical players. These companies have benefitted themselves from the Indian market due to increasing demands. This only persuaded many other global companies to enter the Indian market. Many domestic pharmaceutical manufacturers have also established themselves as key players.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Chronic Diseases
4.2.2 Technological Advancements
4.3 Market Restraints
4.3.1 Risk of Needlestick Injuries
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Route of Administration
5.2 By Application
5.2.4 Infectious diseases
5.3 By End Users
5.3.2 Ambulatory Surgical Centers
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 3M Company
6.1.2 Bayer AG
6.1.3 F. Hoffmann-La Roche AG
6.1.4 GlaxoSmithKline PLC
6.1.5 Johnson & Johnson
6.1.6 Merck & Co
6.1.7 Novartis AG
6.1.8 Pfizer Inc
6.1.10 Sun Pharmaceutical Industries Ltd.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments