The Europe drug delivery systems market is expected to reach US$ 610,320.4 Mn in 2027 from US$ 343,533.9 in 2018. The market is estimated to grow with a CAGR of 6.7% from 2019-2027.
Factors such as rising investments by pharmaceutical companies and medical device companies in research and development and rise of chronic disease conditions in Europe is expected to foster the growth of the Europe drug delivery systems market. On the other hand, regulatory recalls for drug delivery systems by European manufacturers are likely to create a negative impact on the market growth to an extent. However, the development of drug delivery devices to cater to the increasing infectious disease incidence in Europe is expected to offer growth opportunities for market players in the region over the course of years.
Europe has a huge pool of patient population suffering from various chronic disease conditions. Europe is highly affected by non-communicable diseases that include cardiovascular diseases, diabetes, cancer, mental disorders, and chronic respiratory diseases. According to the World Health Organization (WHO) 2016, these five major diseases collectively account for 77% of the total disease burden in the European region. WHO Europe states that approximately 17 million people across the globe due to cardiovascular diseases. According to the European Heart Network (EHN), cardiovascular diseases account for 45% of deaths in Europe and 37% deaths in the European Union. In addition, diseases of respiratory systems are also one of the main factors contributing to the European disease burden. This disease majorly deals with the oral passage, nasal cavity, larynx, pharynx, trachea, and bronchitis. According to Europa, the statistical portal, the standardized death rate in Europe due to chronic respiratory diseases was recorded to be 88.4 deaths per 100,000 populations in 2015. Furthermore, diabetes being one of the leading global factors for mortality also significantly affect death rates in Europe. According to the World Health Organization (WHO), about 60 million patients in Europe suffer due to diabetes, of which majority of patients have obesity, physical inactivity, and unhealthy diets as prime reasons for the cause of the disease. Owing to a high prevalence of chronic diseases across the European region, the market for drug delivery systems is expected to witness a rising growth o over the coming years.
The drug delivery systems market on the basis of route of administration is majorly classified into oral, transmucosal, injectable, topical, implantable, and ocular. In 2018, the oral segment held the largest market share of 50.2% of the drug delivery systems market, by route of administration. The oral segment is expected to dominate its market share in 2027 owing to ease of drug administration, a high degree of flexibility on dosages, and cost-effectiveness. Moreover, the oral segment is expected to be the most preferred type of route of administration.
Some of the major primary and secondary sources for drug delivery systems included in the report are European Heart Network (EHN), Food and Drug Administration (FDA), World Health Organization, European Health Management Association (EHMA), European Medicines Agency (EMA) and others.