Drug Delivery Devices Market Size

Drug Delivery Devices Market size was valued at USD 284.85 Billion in 2023 and is projected to exceed USD 571.34 Billion by the end of 2036, expanding at over 5.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of drug delivery devices is evaluated at USD 298.95 Billion. The growth of the market can be attributed to the increasing worldwide incidence of chronic diseases, and the ongoing efforts to adopt the best vaccines. In accordance to the National Library of Medicine, cardiovascular disease, cancer, chronic lung disease, and diabetes account for one-third of all fatalities worldwide.

Furthermore, increased spending on healthcare improvement is one of the primary reasons driving the growth of the drug delivery devices market. The global spending on healthcare per person increased from USD 864.313 in 2008 to USD 1,110.841 in 2018, with the United States leading the way with a healthcare expenditure of USD 10, 623.85 per capita in 2018.