Drug Delivery Devices - United Kingdom

United Kingdom

Highlights

In the United Kingdom, revenue in the Drug Delivery Devices market market is projected to reach US$1.27bn in 2024.
This revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 7.09%.
Consequently, the market volume is expected to attain US$1.78bn by 2029.
In contrast, the United States is expected to generate the majority of revenue globally, with a forecast of US$15.01bn in 2024.
In the United Kingdom, the increasing emphasis on personalized medicine is driving innovation in drug delivery devices, enhancing patient-centric care and treatment outcomes.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Drug Delivery Devices Market within the Medical Devices sector in the United Kingdom is witnessing moderate growth, influenced by factors such as advancements in technology, increasing prevalence of chronic diseases, and a strong demand for patient-centric healthcare solutions.

Customer preferences: Consumers in the United Kingdom are increasingly prioritizing personalized medicine and self-management solutions, driving demand for advanced drug delivery devices that cater to individual health needs. As the population ages and chronic disease prevalence rises, there’s a notable shift towards user-friendly devices that enhance adherence and simplify complex treatment regimens. Additionally, the growing emphasis on sustainability is prompting manufacturers to innovate eco-friendly packaging and delivery systems, reflecting a broader cultural trend towards environmental responsibility in healthcare.

Trends in the market: In the United Kingdom, the Drug Delivery Devices Market is experiencing a significant shift towards smart technologies that enable remote monitoring and real-time data sharing between patients and healthcare providers. This trend is driven by the increasing adoption of digital health solutions, allowing for more personalized treatment approaches. Furthermore, there is a heightened focus on minimizing waste through the development of reusable and biodegradable devices. As healthcare systems aim for improved patient outcomes and cost efficiencies, industry stakeholders must adapt to these evolving demands, fostering collaboration between technology developers and healthcare professionals to enhance device usability and integration.

Local special circumstances: In the United Kingdom, the Drug Delivery Devices Market is shaped by the National Health Service (NHS) framework, which emphasizes cost-effectiveness and patient-centered care. The diverse population and regional health disparities drive the need for tailored drug delivery solutions. Additionally, stringent regulatory requirements from bodies like the Medicines and Healthcare products Regulatory Agency (MHRA) ensure high safety standards, fostering innovation. Cultural attitudes towards technology adoption, particularly among older populations, influence the integration of smart devices, impacting market growth and acceptance.

Underlying macroeconomic factors: The Drug Delivery Devices Market in the United Kingdom is significantly influenced by macroeconomic factors such as national economic stability, healthcare funding, and demographic trends. A robust economy supports increased investment in innovative drug delivery technologies, while government fiscal policies aimed at enhancing NHS funding can drive market growth. Additionally, the rising prevalence of chronic diseases and an aging population necessitate advanced drug delivery solutions tailored to patient needs. Global economic trends, such as supply chain disruptions and inflation, may also impact the cost and availability of devices, shaping overall market dynamics.

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.