INDIA DRUG DELIVERY DEVICES MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


India Drug Delivery Devices Market Analysis:

The India Drug Delivery Devices Market is projected to experience a compound annual growth rate (CAGR) of approximately 5.5% during the forecast period from 2022 to 2027.

The COVID-19 pandemic has had a significant impact on the Indian drug delivery devices market, primarily due to the shortage of these devices. For example, in September 2022, Bharat Biotech conducted various activities related to the development of a product, including pre-clinical safety evaluation, large-scale manufacturing scale-up, formulation, delivery device development, and human clinical trials. The company concluded that an intranasal vaccine with an easy-to-administer formulation and delivery device would facilitate mass immunization campaigns. Such developments are expected to drive the adoption of drug delivery devices and contribute to market growth in India.

India, with its second-largest population in the world according to OECD data, has witnessed an increased demand for improved healthcare facilities. This demand has positively influenced the market for newer and more efficient drug delivery devices, leading to its flourishing in India.

Several factors are driving the growth of the drug delivery devices market in India. These include the rising prevalence of chronic diseases, advancements in technology, and innovative strategies implemented by key market players. The growing population, coupled with the increasing incidence of chronic diseases, has placed a burden on the Indian healthcare system. For instance, according to a report published by the International Diabetes Federation in 2021, the estimated number of diabetes patients in India was 74,194.7 thousand in 2021, and this number is expected to reach 92,973.7 thousand by 2030. This has significantly contributed to the demand for drug delivery devices for insulin administration. Additionally, technological advancements in drug delivery and the demand for controlled release drugs have also positively impacted the market.

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