United Kingdom Drug Delivery Devices Market Size

UK Drug Delivery Devices Market Analysis

• The United Kingdom's drug delivery devices market is anticipated to register a CAGR of 22.81% during the forecast period.
• With the emergence of the COVID-19 pandemic, most pharmaceutical companies and governments have strived to offer COVID-19 patients appropriate medical therapy and drug delivery devices pandemic. For example, large-scale vaccination programs were being implemented worldwide to immunize people against the SARS-CoV-2 virus. However, many companies are still working on more efficient ways of delivering COVID-19 therapeutics to patients and are investing heavily in it, which is expected to impact the drug delivery market significantly.
• For instance, in January 2022, UK physicians began clinical development of a nasal spray designed to prevent infection with the coronavirus and treat mild to moderate cases of COVID-19. The spray delivers nitric oxide into the nasal passages to destroy the virus at a site it used to enter the body and begin replicating. As a result, COVID-19 has contributed to the expansion of the drug delivery devices market in the United Kingdom. Additionally, the market is anticipated to maintain this trend over the projected period as more research and development for drug-delivery devices is expected in the upcoming years.
• The rising prevalence of chronic diseases, technological advancements, and growth in biologics are some of the key factors driving the growth of the UK's drug delivery devices market. Many disorders, including cardiovascular disease and diabetes, can benefit from targeted drug administration. The most important application of targeted medication delivery is the treatment of malignant tumors. As a result, the increasing prevalence of cardiovascular disease, diabetes, and cancer disorders will likely drive market expansion during the forecast period.
• For instance, according to the Globocan 2020 fact sheet, 53,889 new cases of breast cancer and 56,780 new cases of prostate cancer were recorded in the United Kingdom in 2020. Thus, the rising prevalence of chronic diseases among the population is expected to boost the demand for targeted drug delivery devices, thereby boosting the market growth.
• Additionally, Type 1 and Type 2 diabetes prevalence rates are increasing primarily due to obesity, a poor diet, and inactivity. According to the British Diabetic Association, Diabetes Prevalence 2021 data show that the number of people living with diabetes in the United Kingdom has increased by more than 150,000 since 2020.
• In the United Kingdom, it is projected that more than 13.6 million people are at higher risk of developing type 2 diabetes. At this rate, the number of diabetics, including the undiagnosed, is predicted to reach 5.5 million by 2030. Thus, this will likely create demand for advanced drug delivery devices, boosting the market growth.
• However, the risk of needlestick injury may restrain market growth over the forecast period.