On-Body Drug Delivery Devices Market To Reach US$ 796.1 Million Valuation By 2034, Growing At 6.8% CAGR: TMR Report

(MENAFN- PR Newswire) Companies in the on-body drug delivery devices market are working toward launching more efficient on-body delivery systems for injectables. They are also exploring the launch of multifunctional system in order to send drugs where they could be effective in the body's organs and tissues

WILMINGTON, Del., Aug. 2, 2024 /PRNewswire/ -- The on-body drug delivery devices market
is poised to expand at a CAGR of 6.8% from 2024 to 2034. By the end of the aforementioned forecast period, the market is poised to total US$ 796.1 million in value terms. A basic advantage of an on-body drug delivery device is that it is able to accurately target specific cells and tissues. This minimizes the side-effects of drugs and increase therapeutic efficacy.

An on-body drug delivery device is a patched-on device delivering big molecules (biologics) subcutaneously and has been designed for therapies that periodically need a specific quantity of formulated drug. Typical applications comprise proteins such as monoclonal antibodies (mAbs).

The advantages offered by on-body drug delivery devices include higher level of precision at lower dosing increments, home-use with bolus and/or basal profile, automatic needle insertion and retraction, occlusion detection, resusable/disposable concept supporting sustainability, and use of standard glass cartridges. Research states that targeted drug delivery results in enhanced pharmacokinetics such as improved absorption, distribution, metabolism, and excretion (ADME).

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Increasing preference for advanced drug delivery systems has widened the scope for on-body drug delivery devices. Advanced drug delivery technologies have proven to enhance treatment outcomes in various ways, which include enhancement of therapeutic efficacy, increasing patient compliance, reducing toxicity, and facilitating novel medical treatments.

Key Takeaways from the Market Study

• The market for on-body drug delivery is poised to accumulate a value of US$ 416.8 million in 2024.
• The on-body drug delivery devices market is poised for a 1.9x growth from 2024 to 2034.
• By application, cancer is expected to emerge as an important area for on-body drug delivery devices use.
• By product type, both wearable and auto-injectors are expected to enjoy heightened demand throughout the forecast period.
• Hospitals are the main sites for availing on-body drug delivery devices for patients.

Key Market Drivers and Trends

• On-body drug delivery devices help in obtaining enhanced drug safety along with patient compliance. These devices are designed such that therapeutic levels of drug are maintained, and side-effects and overdose of drugs can be reduced. Besides, drugs can be delivered with short in-vivo half-lives.
• Targeted drug delivery systems such as on-body drug delivery devices are capable of concentrating a medicine's active ingredient at site of a lesion/anatomical target. This keeps the drug at effective concentration on targeted organs for a longer duration, facilitating prescription of medicines at a lower dose.

On-body Drug Delivery Devices Market Report Scope:

Report Coverage	Details
Forecast Period	2024-2034
Base Year	2020-2022
Size in 2023	US$ 390.7 Mn
Forecast (Value) in 2034	US$ 796.1 Mn
Growth Rate (CAGR)	6.8 %
No. of Pages	136 Pages
Segments covered	By Product Type, By Application, By End-user

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Regional Profile

• North America expects to witness substantial progress with respect to on-body drug delivery devices sales. This is attributed to growing demand for advanced drug delivery systems such as metered-dose inhalers and sensor-embedded devices. As per a study published by CIHI in April 2021, more than 3 million acute inpatient hospitalizations were witnessed in Canada from 2019 to 2020.
• The market in Europe is expected to see substantial expansion. Europe's market growth is ascribed to rise in awareness about advanced drug delivery devices and rise in adoption of the advanced products.
• Various clinical trials are being conducted regularly for novel products and introduction of new products by the key participants. Along these lines, in April 2021, Medtronic launched its extended infusion set in select European nations. It can be worn for close to a week.

Competitive Landscape

Key participants in the on-body drug delivery devices market are launching new products to strengthen their position. For instance, in September 2023, Corium, Inc. introduced ADLARITY, a donepezil transdermal system in the U.S. to treat patients contracting mile-to-severe Alzheimer's.

In August 2022, Baxter announced that it had obtained clearance from the U.S. FDA for usage of Novum IQ Syringe Infusion Pump with Dose IQ Safety Software. These
infusion pumps
deliver small quantities of fluid at low rates in neonatal, pediatric, or anesthesia care settings with utmost precision.

Enable Injections Inc., NOVO Engineering, Elcam Medical, Battelle, and Gerresheimer AG are some of the key players covered in the on-body drug delivery devices market report.

Key Players Profiled

• Enable Injections Inc.
• NOVO Engineering
• Elcam Medical
• Battelle
• Gerresheimer AG

Recent Market Developments

• In January 2024,
  Medtronic received CE Mark approval for MiniMed 780G system, in collaboration with Simplera Sync. MiniMed 780G is one of the automated insulin delivery system, which is equipped with meal detection technology and makes provision for automatic adjustments as well as corrections to the levels of sugar every five minutes.
• In February 2023,
  Innovation Zed
  received CE mark for its InsulCheck DOSE, one of the single unit add-on device for insulin pen injectors.

Key Segments Profiled

Product Type

• Wearable Injectors
• Auto-injectors
• Patches
• Others

Application

• Cardiovascular Diseases
• Cancer
• Autoimmune Diseases
• Diabetes
• Others (Orthopedic Disorders, etc.)

End User

• Hospitals
• Specialty Clinics
• Ambulatory Surgery Centers
• Others (Research Institutes, etc.)

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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