United States Drug Delivery Devices Market Size

USA Drug Delivery Devices Market Analysis

The US drug delivery devices market is expected to register a CAGR of 22.78% during the forecast period.

COVID-19 had a significant impact on the market studied during the early stages due to the rise in vaccination and immunization which utilized syringes and needles for administering the vaccines. As researchers developed vaccinations against COVID-19 that were widely administered intravenously, utilizing the syringe as a drug delivery device. As per the article published in 2022 by Drug Delivery and Translational Research journal, the success of mRNA vaccines demonstrated the critical role that drug delivery technologies had played in protecting billions of people from SARS-CoV-2. Administration of mRNA vaccines across the globe rise the demand for syringes as drug delivery devices, thereby increasing the market growth. As per the same source, the current mRNA development of COVID-19 vaccines is the outcome of years of basic research in the disciplines of nucleic acid therapy and drug delivery. Hence, an increase in research and development activities during and post-pandemic periods is expected to lead to growth in the post-pandemic period.

Factors such as the growing burden of chronic diseases and the developments related to drug delivery methods are expected to significantly contribute to the market growth. According to the 2022 data from the CDC, about six out of ten American individuals are suffering from chronic diseases, which are leading drivers of the nation's annual healthcare costs, amounting to around USD 4.1 trillion. Changing lifestyles, such as physical inactivity, consumption of a high-sugar diet, alcohol, smoking, etc., are responsible for the growing burden of the disease in the United States. As per the same source, physical inactivity ranges from 17.3 to 47.7 in the country. Thus, it is expected to drive the need for the management of these diseases, thereby boosting the market.

Product launches and collaboration in the United States regarding the market are likely to boost the market growth. In May 2022, Gland Pharma launched the cancer treatment drug Bortezomib, in an injection form, in the US market. The company launched the product in the US market through its partner, which received approval from the FDA. Bortezomib Injection is used to treat cancers, such as multiple myeloma and mantle cell lymphoma. Furthermore, in November 2022, Medtronic plc launched the Medtronic Extended infusion set, the first and only infusion set labeled for up to 7-day wear. An infusion set is tubing that delivers insulin from an insulin pump to the body and typically requires a set change every two to three days. Hence, considering the increased product launches in the United States, the drug delivery market is likely to grow over the forecast period.

Thus, due to the rise in the burden of chronic diseases and the increase in product launches, the market is anticipated to witness growth over the forecast period. However, the recalling of products by the FDA is expected to impede the market growth.