Drug Delivery Devices - APAC

APAC

Highlights

Revenue in the Drug Delivery Devices market market in APAC is projected to reach US$6.84bn in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 6.09%, leading to a market volume of US$9.19bn by 2029.
In a global context, the majority of revenue will be generated the United States, which is expected to reach US$15.01bn in 2024.
The APAC region, particularly countries like India and China, is witnessing a surge in innovative drug delivery devices driven by increasing healthcare demands and technological advancements.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Drug Delivery Devices Market within the Medical Devices sector in APAC is experiencing mild growth. This is influenced by factors such as technological advancements, increased chronic disease prevalence, and the rising demand for patient-centric healthcare solutions.

Customer preferences: In the APAC region, consumers are increasingly gravitating towards drug delivery devices that offer convenience and personalization, reflecting a shift towards self-management of health. This trend is fueled by the aging population and the rising prevalence of chronic diseases, prompting a demand for devices that facilitate easier medication adherence. Additionally, cultural nuances emphasize holistic health approaches, leading to a preference for innovative delivery methods that align with lifestyle changes, such as on-the-go solutions that integrate seamlessly into daily routines.

Trends in the market: In the APAC region, the Drug Delivery Devices Market is experiencing a surge in demand for smart and user-friendly devices that enhance medication adherence and self-management. Countries like Japan and South Korea are prioritizing advanced injection systems and wearable technologies that cater to chronic disease management. Meanwhile, India is seeing a rise in mobile health applications that integrate with drug delivery devices for real-time monitoring. This evolution reflects a broader trend towards personalized healthcare solutions, compelling industry stakeholders to innovate and adapt their offerings to meet the growing consumer expectations for convenience and efficiency.

Local special circumstances: In Japan, the Drug Delivery Devices Market is shaped by an aging population and a high prevalence of chronic diseases, driving demand for advanced drug delivery systems that offer precision and ease of use. The cultural emphasis on technology and innovation encourages the adoption of smart devices. In Australia, regulatory frameworks prioritize patient safety and efficacy, influencing the development of more robust drug delivery solutions. In contrast, in Indonesia, limited healthcare infrastructure necessitates the integration of low-cost, portable drug delivery devices to improve access in remote areas, reflecting diverse local needs.

Underlying macroeconomic factors: The Drug Delivery Devices Market in the APAC region is significantly influenced by macroeconomic factors such as economic growth, healthcare spending, and regulatory frameworks. Countries with robust economic performance, such as Japan and Australia, are investing in advanced drug delivery technologies, enhancing market growth through innovation and improved patient outcomes. In contrast, developing nations like Indonesia face challenges from limited healthcare budgets and infrastructure, driving demand for affordable, portable solutions. Additionally, the increasing prevalence of chronic diseases across the region necessitates effective drug delivery systems, further shaping market dynamics and priorities.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

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Medical technology industry - statistics & facts

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.