South Korea Drug Delivery Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Mode of Administration and End User (Hospitals, Ambulatory Centers and Other End Users)

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2021
CAGR: 7.8 %

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Market Overview

Drug delivery devices are specialized tools for the delivery of a drug or therapeutic agent via a specific route of administration. In South Korea, the demand for these devices has increased primarily owing to the increased prevalence of chronic diseases. As there is also a rise in the number of diabetes patients and an increase in the incidence of cancer and diseases the use of drug delivery devices among patients and physicians.

The growing geriatric population has been a major factor in this increasing prevalence. This has increased the demand for medication, which in turn has increased the demand for delivery devices. This has proven to be the major factor for the ease in demand for drug delivery devices.

However, the increase in the risk of infections and stringent regulatory guidelines for the approval of drug delivery devices have been restraining the growth of this market.

Scope of the report

As per the scope of the report, drug delivery devices are specialized tools used for the delivery of a drug or therapeutic agent through a specific route of administration. The devices are used one or more than one times for medical treatments. These devices are also used for safe and effective drug delivery.

By Mode of Administration
Nasal
Oral
Ocular
Implantable
Injectable
Transdermal
Topical
Other Modes of Administration
By End User
Hospitals
Ambulatory Centers
Other End Users

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Key Market Trends

Injectable Type as Therapeutic devices are expected to Register High Growth in the Forecast Period

The injectable drug delivery devices are expected to show rapid growth due to the growing burden of chronic diseases, benefits, and convenience, leading to increased demand for self-injectors and growth of the biologics market leading to increased demand for injectors.

The growing burden of chronic diseases like diabetes in South Korea has led to a rise in the overall use of syringes and self-injectable devices. The prevalence of diabetes has increased in South Korea has increased over the years as per a 2017 report by Junghyun Noh et al., published in Springer Nature Journal. Hence this has helped in the increased demand for therapeutics,which has, in turn, increases the demand for injectable devices. 

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Competitive Landscape

The market studied is moderately competitive and comprises of the international as well as local players. South Korea being a highly developed country with a well-structured healthcare system in the country. As a result, many global players in the drug delivery devices market are present in the country. This has made the region very competitive.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increased Prevalence of Chronic Diseases

      2. 4.2.2 Requirement of Controlled Drug Release

    3. 4.3 Market Restraints

      1. 4.3.1 Risk of Infection During the Usage

      2. 4.3.2 Stringent Regulatory Guidelines

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Mode of Administration

      1. 5.1.1 Nasal

      2. 5.1.2 Oral

      3. 5.1.3 Ocular

      4. 5.1.4 Implantable

      5. 5.1.5 Injectable

      6. 5.1.6 Transdermal

      7. 5.1.7 Topical

      8. 5.1.8 Other Modes of Administration

    2. 5.2 By End User

      1. 5.2.1 Hospitals

      2. 5.2.2 Ambulatory Centers

      3. 5.2.3 Other End Users

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 3M

      2. 6.1.2 Baxter International

      3. 6.1.3 Bayer AG

      4. 6.1.4 F. Hoffmann-La Roche AG

      5. 6.1.5 GlaxoSmithKline PLC

      6. 6.1.6 Johnson & Johnson

      7. 6.1.7 Merck & Co.

      8. 6.1.8 Novartis AG

      9. 6.1.9 Pfizer Inc

      10. 6.1.10 Sanofi

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The South Korea Drug Delivery Devices Market market is studied from 2018 - 2026.

The South Korea Drug Delivery Devices Market is growing at a CAGR of 7.8% over the next 5 years.

3M Company, Bayer, GlaxoSmithKline PLC, Pfizer Inc., Baxter International are the major companies operating in South Korea Drug Delivery Devices Market.

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