Market Size of India Drug Delivery Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India Drug Delivery Devices Market Analysis
The India Drug Delivery Devices Market is poised at a CAGR of nearly 5.5% during the forecast period (2022-2027).
COVID-19 has significantly impacted the Indian drug delivery devices market during the pandemic due to the shortage of drug delivery devices. For Instance, in September 2022, Bharat Biotech has conducted the product development related to pre-clinical safety evaluation, the large-scale manufacturing scale-up, the formulation, the delivery-device development, and human clinical trials and concluded that the intranasal vaccine will make it easier to deploy in mass immunisation campaigns with an easy-to-administer formulation and delivery device. Such developments are expected to rise in adoption of drug delivery devices in the administration of market growth, driving the market growth in India.
India has the second-largest population in the world according to OECD data. With the increasing population, the demand for better healthcare facilities has also increased. Newer and more efficient ways of drug delivery devices have been positively affected by this demand and hence this market is flourishing in India.
The factors driving the market growth in India include, rising prevalence of chronic diseases, rising technological advancements, innovative strategies adopted by the key market players, among others. 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 International Diabetes Federation report published in 2021, the estimatated number of diabetes patients in 2021 in thousands were 74,194.7 and the number is expected to reach 92,973.7 by 2030. This has proven to be the major factor for the ease in demand for drug delivery devices for the delivery of insulin. Other factors like technological advancements in the field of drug delivery and demand for controlled release drugs have also affected this market positively.
According to the study titled 'Prevalence and Potential Determinants of Chronic Disease Among Elderly in India: Rural-Urban Perspectives' published in March 2022, in India, about 21% of the elderly population reportedly have at least one chronic disease. 17%elderly in rural areas and 29% in urban areas suffer from a chronic disease. Hypertension and diabetes account for about 68% of all chronic diseases.
In addition, in August 2021, Berry Global Group is planning to construct second manufacturing plant and a worldwide centre of excellence for healthcare in Bangalore, India. According to plans released by Berry, it wants to concentrate on its current position in inhalation devices, including models with digital capabilities and the next generation of injectable devices. Such initiatives will lead to increase manufacturing of drug delivery devices, thereby expected to rise in adoption, driving the market growth.
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.
