Global Advanced Dermatology Drug Delivery Devices Market Grows at a Staggering CAGR of 9.25%

Introduction

Drug delivery devices are specialized medical devices designed to administer therapeutic agents to the target sites. These may be disposable or reusable and are manufactured from various materials, including glass, plastic, and polymers. Advanced dermatology drug delivery devices are concentrated on delivering multiple drugs, vaccines, and therapeutic agents through the skin to the target sites. The advanced drug delivery device concept for dermatology includes drug delivery with additional features for reduced discomfort, improved medication adherence, customer interaction, user-friendly design, and convenience of administration. There are injectors, patches, airless dispensers and containers, dermal pumps, valves, and devices that improve safety and connectivity.

Market Dynamics

Growing Focus on Prescription Adherence Drives the Global Market

Key participants in the global market for advanced dermatology drug delivery devices have prioritized technological advancements that can improve adherence. The expansion of effective adherence has the potential to improve patient health. In the future, drug delivery devices will include characteristics that promote adherence. With evolving technologies, market leaders are expected to incorporate their offerings with connectivity features via applications. For example, Portal Instruments, Inc. intends to use its injector to record all injections linked to patient applications or physician records. The collected data can provide real-time insights into adherence that teams can utilize to enhance adherence. The AdhereIT platform ensures dosage adherence among patients who self-inject medications. Further, the increase in medication adherence is anticipated to ultimately contribute to the market's expansion.

Development of a Customized Apps Marketplace for Pharma Companies Creates Tremendous Opportunities

The enhanced dermatology drug delivery device software market is still being determined and presents substantial growth opportunities. This is due to a surge in manufacturers seeking a completely connected device and a patient-facing application. Multiple synergies between manufacturers of advanced dermatology medication delivery devices and third-party software developers/cloud-service providers are anticipated to act as a catalyst for developing the customized app marketplace in the future. Further, numerous device manufacturers have already formed partnerships with app developers. For instance, Credence MedSystems, Inc. provides the Credence Connect Auto-Sensing Injection System. The Connect system integrates with the Credence App on mobile devices to provide instructions and reminders. Smartphone and web-based applications and connectivity add-on devices are anticipated to become the norm for connected advanced dermatology drug delivery devices over the forecast period.

Regional Analysis

North America is the most significant global advanced dermatology drug delivery devices market shareholder and is anticipated to exhibit a CAGR of 9.17% during the forecast period. The healthcare system in North America is one of the most technologically advanced globally. It is the dominant region in the global market for sophisticated dermatological medication delivery devices and has many early adopters. The growing prevalence of chronic diseases, the aging population, and the presence of many well-established businesses primarily drive the region's development. Increases in new product launches, business synergies, and FDA approvals have contributed to the expansion of the North American market. For instance, AptarGroup, Inc. and Noble International introduced the AdhereIT connected onboarding solution for disease management adherence and patient onboarding in October 2020.

Europe is estimated to exhibit a CAGR of 9.22% over the forecast period. The Europe region is expected to remain one of the leading markets for advanced dermatology drug delivery devices, as it is one of the primary markets with early adopters of novel devices. The European market is anticipated to be primarily driven by technological awareness, affordability, and patient acceptability. There has been an increase in the adoption of connected devices in Europe due to their advantages over conventional methods, such as improved patient care and safety, shorter hospital stays, and faster recovery. Additionally, increased expenditures on research and development programs for advanced drug delivery technologies are anticipated to contribute positively to the expansion of the European market. The Europe market is anticipated to benefit from strategic collaborations, mergers, acquisitions, and an end-user preference for advanced drug delivery devices.

Key Highlights

• The global advanced dermatology drug delivery devices market was valued at USD 4,090.57 million in 2022. It is estimated to reach USD 10,063.56 million by 2031, growing at a CAGR of 9.25% during the forecast period (2023–2031).
• Based on product type, the global advanced dermatology drug delivery devices market is bifurcated into hardware and software and apps. The hardware segment dominates the global market and is projected to exhibit a CAGR of 9.99% over the forecast period.
• Based on the sales channel, the global advanced dermatology drug delivery devices market is bifurcated into business-to-business (B2B) and business-to-communication (B2C) sales channels. The B2B sales segment is the most significant contributor to the market and is anticipated to exhibit a CAGR of 11.01% over the forecast period.
• Based on the end-user, the global advanced dermatology drug delivery devices market is segmented into hospitals, dermatology practices, and home use. The hospital segment owns the highest market share and is projected to exhibit a CAGR of 12.03% during the forecast period.
• North America is the most significant global advanced dermatology drug delivery devices market shareholder and is anticipated to exhibit a CAGR of 9.17% during the forecast period.

Competitive Players

Competitive Players

The key players in the global advanced dermatology drug delivery devices market are AptarGroup, Inc., Becton, Dickinson and Company, E3D Elcam Drug Delivery Devices, Bespak, Credence MedSystems, Inc., Latch Medical, LTS Lohmann Therapie-Systeme AG, Medicsensors S.L, Kindeva Drug Delivery L.P., Midas Pharma GmbH, Nemera, Owen Mumford, and others.

Recent Developments

Market News

• In October 2022, Emergex Vaccines Holding Limited bought the assets of Zosano Pharma Corporation of California. The acquired assets include intellectual property, license agreements, and production equipment. In addition, they include Zosano's proprietary microneedle array patch (MAP) intradermal drug delivery system.
• In May 2022, BD (Becton, Dickinson, and Company) and Mitsubishi Gas Chemical Company, Inc. agreed to investigate further development of OXYCAPTTM - an innovation from MGC that combines the best plastic and glass for plastic syringes. Together, the companies will explore the potential application of the OXYCAPTTM technology to the next generation of pre-fillable syringes (PFS) for advanced biologic pharmaceuticals.

Segmentation

Global Advanced Dermatology Drug Delivery Devices Market: Segmentation

By Product Type

• Hardware
• Software and Apps

By Sales Channel

• B2B Sales (Pharma/Direct)
• B2C Sales (OTC/Indirect)

By End-User

• Hospitals
• Dermatology Practices
• Home Use

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• Rest-of-the-World