Advanced Dermatology Drug Delivery Devices Market size See Incredible Growth during 2030

Description

The global advanced dermatology drug delivery devices market size is expected to grow from USD 3,569.8 million in 2021 to USD 8,783.0 million by 2030, at a CAGR of 10.5% from 2022 to 2030. The global advanced dermatology drug delivery devices market is driven by factors such as the global efforts in increasing the adoption of connected devices, increasing number of business synergies with pharmaceutical companies, novel technologies in drug delivery, and the growing focus on prescription/medication adherence. Manufacturers are more focused on producing devices that offer enhanced patient experience through real-time monitoring and data sharing.

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Market players have been active in terms of product launches and business synergies. Contract manufacturing acts as a major business model for many of the players in the market. Furthermore, proprietary technologies are also expected to play a key differentiating role for new entrants and existing players in the future as the preference shifts more toward connected devices. The stringent regulations and concerns around data privacy are expected to be a major restraint to the market's growth during the forecast period 2022-2030. However, with time, the standardization of protocols and increasing awareness about connected devices and their benefits are expected to propel the market's growth.

Global Advanced Dermatology Drug Delivery Devices Market Definition

Dermatology is the branch of medicine concerned with diagnosing, treating, and preventing diseases of the hair, nails, skin, oral cavity, and genitals. It is a specialty in both surgical and medical aspects. A dermatologist is a specialist medical doctor who manages hair, nails, skin, and some cosmetic problems.

Drug delivery devices are specialized medical devices that focus on delivering therapeutic agents at the target sites. These can be either disposable or reusable and are made from various materials such as glass, plastic, and polymers.

Advanced dermatology drug devices are a specialized class of drug delivery devices focused on delivering various drugs, vaccines, and therapeutic agents to the target sites through the skin.

Covid-19 Impact on Global Advanced Dermatology Drug Delivery Devices Market

Dermatology practices were impacted during the initial days of the COVID-19 pandemic during the complete lockdown. The impact of COVID-19 also varied depending on the region, country, the extent of lockdowns, and the local population's perception. However, the adoption of advanced dermatology drug delivery devices has been accelerated in the post-COVID-19 pandemic as there increase in demand for connected devices. The trend of digitalizing healthcare has also impacted the development of some of the devices. Several key changes during the pandemic have played a key role in transforming the way consumers receive care. Additionally, the supply side has also been influenced by the changes. The following figure lists the key changes expected to influence the global advanced dermatology drug delivery market.

Overall, the impact of COVID-19 on the market size has been low-moderate. Some of the market players have reported a slight decline in sales. However, financials are already on their way to recovery. The decline in revenues was mostly a result of the initial phases of the COVID-19 pandemic, which comprised complete lockdowns across countries and major cities, thus interrupting the supply chain. The impact timeline spanned the end of the first quarter and the second quarter of 2020 for most of the global key markets. However, the pandemic has played a key role in enhancing the growth prospects of connected dermatology drug delivery devices and is expected to aid in improving the market growth outlook indirectly.

Global Advanced Dermatology Drug Delivery Devices Market Dynamics

Drivers: Novel Technologies in Drug Delivery

Technological developments in the healthcare industry are driven by patient and provider demand. In the case of drug delivery, technological advancements are being increasingly driven by the growing focus on patient convenience. Manufacturers have been focused on technologies that ensure safety, reduce pain, and can be used for a wider range of drug formulations and preferences. Much of the developments that have taken place during 2017-2020 indicate a strong focus on needle-less delivery among many new entrants. The concept of needle-less drug delivery appears to be a strong, unique selling point for future market entrants.

Restraints: Stringent Regulations and Concerns Around Data Privacy

The ongoing digital revolution is expected to provide growth opportunities for several software developers. The concept of connected healthcare is revolutionary. However, it adds to data privacy concerns. Similar to connected devices, networked medical devices are prone to security breaches. Most of the new products launched in the market aim to improve existing products and features, which translates to a high rate of innovation. Thus, the regulations which guide data privacy in healthcare are also in the process of constant evolution. Standard guidelines and regulations must be implemented to ensure data privacy, especially as new connected devices continue to be developed and introduced in the market. Upgradation of security protocols is also a critical step for connecting advanced dermatology drug delivery devices in data privacy.

Opportunities: Developing Low-Cost Devices to Improve Sales in Price-Sensitive Markets

Manufacturers, especially new entrants, in the global advanced dermatology drug delivery devices market need to carefully consider their pricing strategies to expand business in emerging markets. Existing manufacturers understand the importance of setting price points in an increasingly price-sensitive market, especially for over-the-counter products such as pen injectors. The development of connected drug delivery in a value-based care model requires new market players to face pricing pressure due to increasing competition. Therefore, the challenge is to develop connected devices focused on patient convenience and sell them at attractive prices. Ypsomed AG is a company that has a strong portfolio of pen injectors. Its product YpsoPen is a variable dose insulin pen. The product has attractive pricing, specifically keeping the increasing price sensitivity in the market.

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Global Advanced Dermatology Drug Delivery Devices Market Segment

The study categorizes the advanced dermatology drug delivery devices market based on product type, sales channel, and end-users at the regional and global levels.

By Product Type Outlook (Sales, USD Million, 2017-2030)

• Injectors
  • Disposable Injectors
  • Reusable Injectors
  • Wearable Injectors
• Patches
  • Microarray (MAP) Patches
  • Microneedle (MNP) Patches
    • Solid Removable Microneedles
    • Coated Microneedles
    • Dissolving Microneedles
    • Hollow Microneedles
    • Hydrogel-Forming Microneedles
  • Needle-less Patches
• Airless Dispensers and Bottles
• Dermal Pumps
• Valves
• Other Devices

By Sales Channel Outlook (Sales, USD Million, 2017-2030)

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

By End-Users Outlook (Sales, USD Million, 2017-2030)

• Hospitals
• Dermatology Practices
• Home Use

By Region Outlook (Sales, USD Million, 2017-2030)

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

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Injectors segment accounted for the largest market share

The global advanced dermatology drug delivery devices market has been segmented based on product type into injectors, airless dispensers, patches, and bottles, dermal pumps, continuous valves, and other devices. In 2021, the injectors segment accounted for the major market share in the global advanced dermatology drug delivery devices market. Several innovations are driving the injectors market in terms of product design and user engagement. Injectors and autoinjectors cater to self-administration as well. Thus, ease of use is also a critical parameter for the success of an injector/product or brand. Moreover, Surveys were conducted on patients to identify the top parameters that influence the preferences of physicians and patients alike, including easy grip and ease of performing self-injection.

The specifications and unique selling points (USPs) of the products offered by some of the leading players indicate a strong effort in ensuring optimized ease of use, along with providing customized offerings. The options for customization are usually available for parameters such as the type of formulation, dosage, and the timing of dosage. The devices in the pipeline are also being developed with consumer convenience at the epicenter of innovation.

North America registered the highest CAGR during the forecast period

North America, Asia-Pacific, Europe, South America, and the Middle East & Africa are the regions in which the worldwide advanced dermatology drug delivery devices have been categorized. Globally, North America is projected to register a significant CAGR of 36.7% in the global market of advanced dermatology drug delivery devices. The North America region is one of the most technologically advanced healthcare systems globally. The region has a large base of early adopters for advanced dermatology drug delivery devices and is the leading market in the global advanced dermatology drug delivery devices.

After North America, Europe is the fastest-growing region with a CAGR of 29.0% during the projected period. The Europe region is one of the key markets with early adopters of novel devices and is expected to remain among the top markets for advanced dermatology drug delivery devices. There has been increased adoption of connected devices in Europe due to the benefits offered over conventional techniques, such as enhanced patient care and safety, reduced hospital stays, and quicker recovery. Furthermore, the Europe region is one of the innovation hubs regarding designs, features, and technology. The Europe market is expected to be benefitted from strategic collaborations, M&As, and a high preference for advanced drug delivery devices among end-users.

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Key Market Players

The advanced dermatology drug delivery devices market is mildly concentrated in nature with few numbers of global players operating in the market such as AptarGroup, Inc., Bespak, E3D Elcam Drug Delivery Devices, Kindeva Drug Delivery L.P., Latch Medical, Becton Dickinson and Company, Medicsensors S.L, Midas Pharma GmbH, Credence MedSystems, Inc., Nemera, Owen Mumford, Portal Instruments, Inc., LTS Lohmann Therapie-Systeme AG, Vaxxas Inc., and West Pharmaceutical Services, Inc.

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