Drug Delivery Devices - Portugal

Portugal

Highlights

Revenue in the Drug Delivery Devices market market in Portugal is anticipated to achieve US$102.30m in 2024.
This revenue is forecasted to exhibit an annual growth rate (CAGR 2024-2029) of 5.87%.
Consequently, the market volume is expected to reach US$136.00m by 2029.
In a global context, the majority of revenue will be produced the United States, which is projected to generate US$15.01bn in 2024.
Portugal is witnessing a growing adoption of innovative drug delivery devices, driven by an increasing demand for personalized healthcare solutions and improved patient outcomes.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Drug Delivery Devices Market in Portugal is experiencing moderate growth, influenced by factors like advancements in technology, increasing prevalence of chronic diseases, and a growing focus on patient-centric solutions in healthcare delivery systems.

Customer preferences: Consumers in Portugal are increasingly prioritizing personalized healthcare solutions, driving demand for advanced drug delivery devices that cater to individual needs. There is a notable shift towards devices that offer greater ease of use and comfort, reflecting a growing emphasis on patient empowerment. Additionally, the aging population is prompting a rise in demand for devices that facilitate self-administration of medications, while younger demographics are leaning towards smart, connected devices that integrate with digital health platforms, enhancing overall treatment adherence and effectiveness.

Trends in the market: In Portugal, the Drug Delivery Devices Market is experiencing a surge in demand for personalized and user-friendly solutions, driven by a shift towards patient-centered care. There's an increasing preference for devices that enable self-administration, particularly among the aging population seeking autonomy in managing their health. Concurrently, younger consumers are gravitating towards smart, connected devices that integrate seamlessly with digital health platforms, fostering improved adherence to treatment regimens. These trends underscore the importance of innovation and adaptability for industry stakeholders, as they must align product offerings with evolving consumer expectations and technological advancements to remain competitive in this dynamic market landscape.

Local special circumstances: In Portugal, the Drug Delivery Devices Market is shaped by the country’s robust healthcare system and emphasis on public health initiatives. The aging demographic, coupled with a strong cultural focus on family care, drives demand for devices that facilitate self-administration at home. Regulatory frameworks support innovation while ensuring safety and efficacy, which encourages local companies to develop user-friendly solutions. Additionally, the rising interest in digital health and integration with telemedicine platforms reflects a broader trend towards holistic patient management, setting Portugal apart from other European markets.

Underlying macroeconomic factors: The Drug Delivery Devices Market in Portugal is significantly influenced by macroeconomic factors such as national healthcare expenditures, economic stability, and demographic trends. The country’s commitment to enhancing healthcare infrastructure through public investment fosters an environment conducive to innovation. Additionally, Portugal's aging population and rising incidence of chronic diseases create a growing demand for advanced drug delivery solutions. Fiscal policies promoting research and development in medical technologies further stimulate market growth, while global economic trends, such as increased healthcare spending and patient-centric care models, enhance local market opportunities and competitiveness.

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.