Drug Delivery Devices - New Zealand

New Zealand

Highlights

In New Zealand, revenue in the Drug Delivery Devices market market is projected to reach US$77.97m in 2024.
Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 5.23%, which will result in a market volume of US$100.60m by 2029.
In a global context, the majority of revenue will be generated the United States, where it is anticipated to be US$15.01bn in 2024.
In New Zealand, the demand for innovative drug delivery devices is escalating, driven by a growing emphasis on personalized healthcare solutions and patient-centric approaches.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Drug Delivery Devices Market within the Medical Devices Market in New Zealand is experiencing mild growth, influenced by factors such as technological advancements, an aging population, and increasing demand for personalized medicine solutions. These elements are shaping market dynamics.

Customer preferences: Consumers in New Zealand are exhibiting a growing preference for innovative drug delivery devices that offer convenience and enhanced user experiences. As health awareness rises, there is a notable shift towards self-administration devices, such as auto-injectors and smart inhalers, reflecting a desire for greater autonomy in managing health conditions. Additionally, the increasing interest in personalized medicine is encouraging the development of tailored delivery methods that cater to individual patient needs, aligning with the cultural emphasis on holistic health and well-being.

Trends in the market: In New Zealand, the Drug Delivery Devices Market is experiencing a significant shift towards advanced self-administration technologies, driven by consumer demand for convenience and autonomy in healthcare management. Innovations like auto-injectors and smart inhalers are becoming increasingly popular as patients prioritize ease of use and adherence to treatment regimens. Additionally, the rise of personalized medicine is fostering the development of customized delivery systems that cater to individual health needs, aligning with New Zealand's focus on holistic health practices. This trend not only enhances patient engagement but also presents opportunities for industry stakeholders to invest in research and development, ensuring they meet the evolving needs of a health-conscious population.

Local special circumstances: In New Zealand, the Drug Delivery Devices Market is influenced by the country’s unique geographical landscape and cultural values emphasizing well-being and independence. The dispersed population, particularly in rural areas, drives demand for portable and user-friendly devices that enable self-administration. Additionally, the regulatory environment encourages innovation while ensuring safety, fostering a supportive ecosystem for advanced drug delivery technologies. This cultural emphasis on holistic health and accessibility further propels the growth of personalized delivery systems, aligning with New Zealanders’ preferences for tailored healthcare solutions.

Underlying macroeconomic factors: The Drug Delivery Devices Market in New Zealand is significantly shaped by macroeconomic factors such as national economic stability, government healthcare spending, and global economic trends. A robust economy supports increased investment in healthcare innovation and infrastructure, fostering advancements in drug delivery technologies. Additionally, supportive fiscal policies that prioritize health initiatives enhance access to modern medical devices. The rising prevalence of chronic illnesses and an aging population further elevate demand for efficient drug delivery solutions. Furthermore, global trends towards personalized medicine and patient-centered care align with New Zealand’s cultural values, promoting market growth.

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.