Growing use of drug delivery systems in healthcare facilities is expected to drive the growth of India drug delivery devices market.
According to TechSci Research report, “India Drug Delivery Devices Market By Devices (Syringe, Inhaler, Nebulizer, Transdermal Patch), By Route of Administration (Oral Drug Delivery, Injectable Drug Delivery, Topical Drug Delivery, Others), By Patient Care Setting (Hospitals, Diagnostic Centres, Ambulatory Surgery Centres, Others), By Application (Cancer, Respiratory Diseases, Diabetes, Cardiovascular Diseases, Others), By Region, Competition, Forecast & Opportunities, FY2026”, Indian drug delivery devices market was valued at around USD564 million in 2020 and is expected to grow at a steady CAGR of 8.05% during the forecast period. Increasing demand for critical care devices remains one of the major factors accounting for the growth of India drug delivery devices market. Moreover, growing investments for innovation in healthcare sector is expected to bode well for the growth of India drug delivery devices market through the forecast period. In addition to this, surging incidence of respiratory diseases is further driving the use of drug delivery devices among patients and physicians, which is projected to positively influence the growth of India drug delivery devices market in the years to come. Also, rise of biologics in pharmaceutical market, is further making headway for the growth of India drug delivery devices market. However, there are some factors that might act as major impediments to the growth of India drug delivery devices market through FY2026 including high cost of research & development and devices.
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India drug delivery devices market can be segmented based on device, route of administration, patient care setting, application, company, and region. Based on route of administration, the market can be categorized into oral drug delivery, injectable drug delivery, topical drug delivery, others. Out of which, the injectable drug delivery segment is expected to grow during the forecast period, which can be attributed to certain advantages associated with this route of administration, such as convenience and ease of use, right dosage to the right place, superior spread ability, and enhanced patient compliance. Based on device, the market can be categorized into syringes, inhalers, patch pumps, and others. Out of which, the syringes segment dominated the market until FY2020 and is expected to maintain its dominance during the forecast period as well as they are found to be of convenient usage and low healthcare cost. In addition to this, syringe provides efficient and reliable method for drug administration, which is further anticipated to fuel the segmental growth in the years to come.
Pfizer Limited, Novartis India Limited., India Medtronic Private Limited, GlaxoSmithKline Pharmaceuticals Limited, Cardinal Health India Private Limited, B. Braun Medical India Private Limited., Sun Pharmaceutical Industries Limited., 3M India Limited, Cipla Limited, Bayer Pharmaceuticals India Ltd. are the leading players operating in India drug delivery devices market. The players are adopting several growth strategies to enhance the market scenario of drug delivery devices. Other competitive strategies include new technological developments; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diverse their product portfolio to strengthen their market position.
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“India drug delivery devices market is forecast to register high growth during the next five years on account of rapid surge development in geriatric population. Furthermore, availability of reimbursement for major part of population is anticipated to boost the market growth for drug delivery devices over the coming years. Additionally, high incidence of diabetes and cancer in the country is further projected to bolster the market growth for drug delivery devices through FY2026.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Drug Delivery Devices Market By Devices (Syringe, Inhaler, Nebulizer, Transdermal Patch), By Route of Administration (Oral Drug Delivery, Injectable Drug Delivery, Topical Drug Delivery, Others), By Patient Care Setting (Hospitals, Diagnostic Centres, Ambulatory Surgery Centres, Others), By Application (Cancer, Respiratory Diseases, Diabetes, Cardiovascular Diseases, Others), By Region, Competition, Forecast & Opportunities, FY2026” has evaluated the future growth potential of India drug delivery devices market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India drug delivery devices market.
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