Global Transmucosal Drug Delivery Devices Market Size Is Anticipated to Exceed USD 68.1 Billion by 2030 at a 6.2% CAGR

New York, NY, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Transmucosal Drug Delivery Devices Market By Product Type (Buccal Route, Rectal Route, And Nasal Route), By Application (Hospital And Residential) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Transmucosal Drug Delivery Devices Market size & share in terms of revenue was valued at USD 41.2 billion in 2022 and it is expected to surpass around USD 68.1 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.2% during the forecast period 2023 to 2030.”

What are Transmucosal Drug Delivery Devices? How big is the Transmucosal Drug Delivery Devices Industry?

Report Overview:

The global Transmucosal Drug Delivery Devices Market size was worth around USD 41.2 billion in 2022 and is predicted to grow to around USD 68.1 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2023 and 2030.

Transdermal drug delivery systems are an alternative to oral intravascular, subcutaneous, and transmucosal routes of drug administration. These devices transport medications through the skin for therapeutic purposes. The transmucosal drug delivery system has various benefits over the traditional methods of drug administration, which makes it an attractive option for enterprises that are a part of its value chain. One of the most significant benefits of transmucosal drug delivery is that it is possible to sidestep the natural defence mechanisms that are present in the body. It is projected that the market for transmucosal drug delivery devices would grow in the years to come as a result of the presence of a huge target market that will require regular drug delivery devices for the purposes of diagnosis and treatment.

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Global Transmucosal Drug Delivery Devices Market: Growth Factors

The expansion of the market is being driven by the rising incidence of chronic diseases.

Over the course of the forthcoming time frame, the global market for transmucosal drug delivery devices is anticipated to be propelled forward by the rising incidence of chronic disorders such as cancer, cardiovascular disease, and diabetes, amongst others. For instance, according to the statistics that was provided by Cancer Research UK, there would be 28 million new instances of cancer diagnosed around the world each year by the year 2040 if incidence rates remain unchanged while population growth and ageing continue at the same rates as they are now.

This is a growth of 54.9% in comparison to the year 2020, and it is anticipated that the increase will be greater in males (60.6% growth) than in females (48.8% growth). In a similar vein, the National Institute of Health estimates that diabetes will affect 9.3% (463 million people) of the world's population in 2019. This percentage is projected to rise to 10.2% (578 million) by 2030 and 10.9% (700 million) by 2045. The incidence is higher in urban areas (10.8%) than it is in rural areas (7.2%), and it is higher in countries with high incomes (10.4%) than it is in countries with low incomes (4.0%). Therefore, the aforementioned characteristics lend assistance to the expansion of market revenue.

The market expansion is hindered by regulatory restrictions and a lack of pharmacological compatibility.

The process of developing and obtaining a license for transmucosal medicine delivery devices can be difficult and time consuming because of the stringent regulatory standards that must be met. It may be challenging for businesses operating in the transmucosal medication delivery devices sector to satisfy the standards of a large number of health authorities while simultaneously assuring their products' safety and effectiveness.

In addition, there is a possibility that transmucosal drug administration devices are not suitable for all prescribed medications. It's possible that some medications aren't designed to be absorbed through mucosal membranes, or that they might irritate or damage tissues, which would prevent them from being used in conjunction with these delivery systems. As a result, it is anticipated that this will serve as a significant barrier to the expansion of the market during the course of the time included in the forecast.

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Report Scope

Transmucosal Drug Delivery Devices Market: Segmentation Analysis

The global market for transmucosal drug delivery devices can be broken down into distinct submarkets delineated by product type, application, and geographic location.

The buccal route, the rectal route, and the nasal route are the three subsets that make up the overall market for pharmaceuticals around the world. Over the course of the projection period, it is anticipated that the buccal route segment will have the majority share of the market. As a direct result of the constant research and development that is being conducted in this field, buccal medicine administration systems have a very high potential for expansion. Especially among elderly people, the buccal delivery method is considered as more feasible and preferable than the oral dosing type.

This technique of drug delivery ensures that the first-pass metabolism will not be carried out, which paves the way for the effective administration of medications that are pH-sensitive and easily broken down. The increasing popularity of buccal drug administration can be linked to a number of benefits, including faster absorption, lower biofluid interaction, fewer adverse effects, high concentration availability at the target region, and shorter treatment regimes. In addition, these benefits can be attributed to the fact that there are fewer side effects. As a result, fueling the expansion of the segment over the course of the anticipated period.

The market for transmucosal medication delivery devices can be broken down into the hospital sector and the residential sector according to the application. Over the course of the projected period, it is anticipated that the hospital segment will seize a sizeable portion of the market share. The growth of this sector can be attributed to a number of factors, including an increase in hospital admissions, most notably of elderly patients, an abundance of emergency care supplies, and the development of new products and research conducted by a number of community hospitals. Research conducted in a variety of healthcare facilities yields novel insights and improves the formulation's potential for commercial application.

Experiments in vitro and in vivo were carried out in the year 2020 at three community hospitals located in Japan for the purpose of developing mucoadhesive microparticle-laden gels for the treatment of oral mucositis. The results indicate that the high concentration of the medication at the desired site along with the speedy treatment, in comparison to the more traditional dose forms, are likely to enhance acceptance. Insulin, powerful analgesics, and drugs for the treatment of heart failure are all components of buccal mucoadhesive formulations, which are now being researched and developed by a large number of hospitals located in nations with high levels of revenue. As a result, it is anticipated that this will serve as a driving force behind the growth of the category throughout the course of the projection year.

The global Transmucosal Drug Delivery Devices market is segmented as follows:

By Product Type

• Buccal Route
• Rectal Route
• Nasal Route

By Application

• Hospital
• Residential

Browse the full “Transmucosal Drug Delivery Devices Market By Product Type (Buccal Route, Rectal Route, And Nasal Route), By Application (Hospital And Residential) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report At https://www.zionmarketresearch.com/report/transmucosal-drug-delivery-devices-market

Competitive Landscape

Some of the main competitors dominating the global Transmucosal Drug Delivery Devices market include - 

• Abbott
• Bayer AG
• Teva Pharmaceutical Industries Ltd.
• Slan Medicinal Holdings LTD
• MMB Healthcare LLC.
• BioDelivery Sciences International Inc.
• Mylan N.V.
• Novartis AG
• Bristol-Myers Squibb Company
• Johnson & Johnson Private Limited
• Antares Pharma
• BD
• 3M
• Pfizer Inc.
• Boehringer Ingelheim International GmbH
• Endo International plc
• Echo Pharmaceuticals B.V.
• B. Braun Melsungen AG
• Baxter
• GlaxoSmithKline plc
• Acrux Limited

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Transmucosal Drug Delivery Devices market is likely to expand at a CAGR of around 6.2% during the forecast period (2023-2030).
• In terms of revenue, the Transmucosal Drug Delivery Devices market size was valued at around US$ 41.2 billion in 2022 and is projected to reach US$ 68.1 billion by 2030.
• The global Transmucosal Drug Delivery Devices market is being driven by the increasing prevalence of chronic diseases including cancer and cardiovascular disease.
• Based on the product type, the buccal route segment is expected to dominate the market over the forecast period.
• Based on the application, the hospital segment is expected to capture a significant market share over the forecast period.
• Based on region, North America is expected to dominate the market over the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Transmucosal Drug Delivery Devices industry?
• What are the main driving factors propelling the Transmucosal Drug Delivery Devices Market forward?
• What are the leading companies in the Transmucosal Drug Delivery Devices Industry?
• What segments does the Transmucosal Drug Delivery Devices Market cover?
• How can I receive a free copy of the Transmucosal Drug Delivery Devices Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Product Type, By Application, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America is expected to dominate the market over the forecast period
North America is expected to dominate the global transmucosal drug delivery devices market over the forecast period. The regional growth is ascribed to the growing prevalence of chronic disease along with the increasing geriatric population and the rising regulatory approvals. For instance, according to the National Institutes of Health, between 2020 and 2050, there will be a 61.11% increase in the number of Americans aged 50 and older, from 137.25 million to 221.13 million.
There will be 142.66 million people aged 50 and older in 2050 who have at least one chronic condition, up from 71.522 million in 2020, a 99.5% rise. Moreover, approximately 25% of persons in the US have two or more chronic illnesses, according to statistics from the International Journal of Environmental Research and Public Health (IJEPH). Age affects the prevalence of chronic diseases, and older persons are statistically more likely to have several chronic diseases. It is believed that age and lifestyle modifications both contribute to the elevated risks. Therefore, the aforementioned stats drive the market growth over the forecast period.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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