The Italian drug delivery devices market is anticipated to expand at a CAGR of 22.74% over the forecast period. The rising prevalence of chronic diseases, technological advancements, growth in the biologics market are some of the key factors driving the growth of the Italian drug delivery devices market. Drug delivery devices help in delivering the drugs which are beneficial for the targeted population to recover faster. The usage of these drug delivery devices reduces the chances of side effects by improving the drug present at the target site. This helps in reducing the dose and associated side effects. In addition, this helps in reducing the overall product price by reducing the amount of active pharmaceutical ingredient.
In addition, a rising number of cancers, respiratory are diabetic patients across the region will promote the adoption of drug delivery devices and drive the overall market. As per GLOBOCAN, around 409.80 thousand cancer cases were reported in Italy in the year 2018. With the presence of a huge target population will require regular drug delivery devices for diagnosis and treatment purposes and propel the drug delivery devices market. Moreover, Increasing R&D expenditure by innovators and generic players, the development of new drugs and biologics and technological advancements in understanding human biology and diseases will also fuel the overall market.
By Route of Administration
By End User
Key Market Trends
By Route of Adinistration, Topical Drug Delivery Devices is Estimated to Witness a Healthy Growth in Future.
Topical drug delivery devices are estimated to witness healthy growth in the future attributed to several benefits associated with this type of route of administrations such as ease of use, painless, noninvasive delivery, convenient and superior spreadability. Moreover, increasing prevalence of skin diseases in Italy also likely to bolster the market growth. As per the Institute for Health Metrics and Evaluation, in 2019, there were 28.38 million Italian population were having skin infection. This rising prevalence and enhanced patient compliance will likely positively impact segment growth.
In Addition, a rising number of biopharmaceutical R&D expenditure will also boost the growth of the Italy drug delivery devices market.
The Italy Drug Delivery Devices Market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Pfizer Inc., Novartis AG, F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc, Bayer AG, Becton, Dickinson and Company, 3M, Antares Pharma, Inc., and GlaxoSmithKline plc.
*List Not Exhaustive