Market Size of Italy Drug Delivery Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 22.40 % |
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?
Italy Drug Delivery Devices Market Analysis
The Italian drug delivery devices market is expected to register a CAGR of 22.4% over the forecast period.
- The Italian drug delivery devices market has been significantly impacted by the COVID-19 pandemic because of the development of COVID-19 vaccinations and treatments, which has raised the market's need for needles and syringes for drug delivery devices. For instance, in September 2022, the distribution of Moderna and Pfizer-BioNTech COVID-19 vaccines designed to stop the spread of the Omicron version of the virus was approved by AIFA in Italy.
- The rising prevalence of chronic diseases and the development of new drugs and biologics are key factors driving the Italian drug delivery devices market growth. Drug delivery devices deliver the drugs that are beneficial for the targeted population to recover fasUsingage of these drug delivery devices reduces the chances of side effects by improving the drug present at the target site. This helps in reducing the dose and associated side effects.
- In addition, a rising number of chronic diseases like diabetes across the region will promote the adoption of drug-delivery devices and drive the overall market. As per IDF Diabetes Atlas, 2021, the age-adjusted comparative prevalence of diabetes in Italy was estimated as 6.4%, 7.4%, and 8.0% for 2021, 2030, and 2045, respectively. The presence of a huge target population will require regular drug delivery devices for diagnosis and treatment purposes and propel the drug delivery devices market. Similarly, the rising burden of chronic diseases increases the demand for targeted therapy, which is majorly administered through the injectable route of administration. Moreover, increasing R&D expenditure by innovators and market players and technological advancements in understanding human biology and diseases will fuel the overall market.
- However, the risk of needlestick injuries is restraining the growth of the Italian drug delivery devices market.
