Drug Delivery Devices - India

India

Highlights

Revenue in the Drug Delivery Devices market market in India is anticipated to attain US$324.70m in 2024.
The revenue is predicted to exhibit an annual growth rate (CAGR 2024-2029) of 7.13%, leading to a market volume of US$458.10m by 2029.
In a global context, the majority of revenue will be produced the United States, which is expected to generate US$15.01bn in 2024.
India is witnessing a substantial shift towards innovative drug delivery devices, driven by increasing healthcare demands and a growing emphasis on patient-centric solutions.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Drug Delivery Devices Market within the Medical Devices Market in India is witnessing moderate growth, influenced by factors such as technological advancements, increased focus on patient-centric solutions, and rising healthcare expenditure among the population.

Customer preferences: Consumers in India are increasingly prioritizing personalized and efficient healthcare solutions, driving demand for innovative drug delivery devices that cater to specific health needs. The rise in chronic diseases and aging population has led to a preference for advanced delivery systems that enhance medication adherence and minimize side effects. Additionally, the growing awareness of health and wellness, coupled with urbanization, is steering individuals towards user-friendly devices that offer seamless integration into daily routines, reflecting a shift towards convenience and self-management in healthcare.

Trends in the market: In India, the Drug Delivery Devices market is experiencing significant growth, driven by an increasing prevalence of chronic diseases and a rising aging population. Innovative devices such as smart inhalers and wearable injectors are gaining traction, catering to personalized healthcare needs. This trend signifies a shift towards enhanced medication adherence and improved patient outcomes. Furthermore, urbanization and a growing focus on health and wellness are prompting consumers to adopt user-friendly devices that seamlessly integrate into their lifestyles. For industry stakeholders, these developments present opportunities for product innovation and strategic partnerships to meet evolving patient expectations and enhance market competitiveness.

Local special circumstances: In India, the Drug Delivery Devices market is uniquely influenced by factors such as diverse geography, varying healthcare access, and cultural attitudes towards health. The vast rural population often faces challenges in accessing traditional healthcare, driving demand for portable and user-friendly drug delivery devices. Additionally, cultural beliefs around traditional medicine encourage integration with modern solutions. Regulatory frameworks also impact market dynamics, with a focus on affordability and accessibility, prompting innovations tailored to local needs and preferences, ultimately shaping a competitive landscape.

Underlying macroeconomic factors: The Drug Delivery Devices market in India is significantly shaped by macroeconomic factors including economic growth, healthcare spending, and demographic trends. With a growing GDP, increased disposable incomes are enabling more consumers to seek advanced medical solutions. National healthcare initiatives aimed at expanding access to essential medicines further bolster market demand. Additionally, inflation and currency stability influence pricing strategies and affordability of these devices. Global trends, such as rising chronic disease prevalence and advancements in technology, also impact local market dynamics by fostering innovation in drug delivery systems tailored to the unique needs of the Indian population.

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.