Market Trends of South Korea Drug Delivery Devices Industry
Injectable Segment is expected to Register High Growth in the Forecast Period in the South Korea Drug Delivery Devices Market
- The injectable segment is poised for rapid growth driven by several factors, including the rising burden of chronic diseases, the benefits and convenience of self-injectors, and the growth of the biologics market. In particular, the increasing prevalence of chronic diseases such as diabetes in South Korea is driving the overall use of syringes and self-injectable devices.
- According to the International Diabetes Federation 10th Edition 2021, 3,511.8 thousand people were suffering from diabetes in South Korea in 2021, and this number is projected to reach 3,860.9 thousand by 2045. This growing burden of disease is a major driver of market growth in South Korea.
- Market participants are actively developing new products and pursuing acquisitions and partnerships to capitalize on this growth opportunity. For example, in April 2022, GC Pharma began supplying HugPEG, an injection aid for Neulapeg (pegfilgrastim), to neutropenia patients who must administer the drug themselves. HugPEG enables users to attach and administer the pre-filled syringe combined with a needle guard, providing a more convenient and efficient way to administer injections compared to existing devices that give injections indirectly.
- Overall, the injectable segment is expected to experience significant growth over the forecast period due to the factors mentioned above.
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Topical Segment is expected to Grow Further During the Forecast Period in the South Korea Drug Delivery Devices Market
- Topical drug delivery devices are designed to deliver medication through the skin of the patient. Various research studies conducted by South Korean researchers have demonstrated the high effectiveness and widespread use of topical drug delivery devices, which are expected to create more demand and growth opportunities for these devices in South Korea.
- For instance, a study published in July 2021 by the researchers of Pusan National University in Biomaterials Research emphasized the advantages of transdermal drug delivery systems such as hyaluronic acid-based dissolving microneedle patches. These patches offer a low rejection rate, ease of administration, persistence, and convenience for patients.
- The study also noted that the transdermal drug delivery system is used for pharmaceuticals as well as for cosmetics, and it avoids the local build-up of the medicine concentration and nonspecific delivery to non-targeted tissue. Topical, transdermal patches have applications in the management of diabetes, dermatitis, metabolic dysfunctions, and other conditions.
- In October 2022, a study published in the Archives of Dermatological Research by researchers of Dongshin University, South Korea, highlighted the high efficacy of transdermal drug delivery using biodegradable hyaluronic acid MN patches (BHMN patches) for delivering drugs through the dry and sensitive skin of atopic dermatitis (AD) patients. The study demonstrated that BHMN patches can be an effective way to manage AD.
- Furthermore, a study published in the Journal of Biomaterials Research by the researchers of Konyang University College of Medicine, South Korea, underscored the high potential and advantages of using Verapamil patches. These are carboxymethyl pullulan-based supramolecular hydrogel patches with cross-linking citric acid and glycerol linkages (CLCMP) for managing a wide variety of chronic and metabolic diseases.
- The study found that the Verapamil-CLCMP patch was able to alleviate obesity-induced insulin resistance, and the CLCMP-based hydrogel patch offered more flexibility, ductile structure, improved drug loading capacity, and barrier performance, along with enhanced drug delivery and bioavailability, with crosslinking-of-citric-acid, glycerol, and CMP.
- Therefore, due to the wide applications and high efficacy of topical drug delivery devices, the topical segment is expected to witness significant growth over the forecast period.
