The Chinese drug delivery devices market is anticipated to record a CAGR of 9.3%, during the forecast period. The major factors attributing to the growth of the Chinese drug delivery devices market are the growing burden of chronic diseases, benefits, and convenience, leading to increased demand for self injectors, and growth of the biologic market, leading to increased demand for drug delivery devices. The increasing prevalence of chronic diseases has led to increased use of drug delivery devices in common, particularly disposable syringes. Many deaths from chronic diseases could be linked to cancer, heart disease, overweight, and diabetes.
As per The State Council Information Office of the People’s Republic of China, each year doctors diagnose 260 million people with chronic diseases. Chronic illness accounts for 85% of China's fatalities each year. The diseases which contribute to most of the deaths are cancer (27.79%), cerebrovascular disorder (20.22%), and heart disease (21.3%). This is anticipated to affect the market and an increase in population is one of the factors impacting the market, as population growth is considered to be the country's most significant factor. The other factor helping the growth of the drug delivery devices market is the increasing technological advancement, which may be one of the key factors fueling the market growth during the forecast period.
Key Market Trends
Self-injectable Drug Delivery Device Segment is Expected to Hold Significant Share in the Chinese Drug Delivery Deivces Market
There have been boundless innovations and developments in self-injectable devices driving the growth of the market in the country. The other major advantages associated with self-injectable injections are that they are found to be of convenient usage at low cost. These are the most adaptable devices, which have a high precision of drug delivery, and are easy to use. In addition to this, with the innovations in self-injectable devices, the acceptance of these products has increased over the past few years. Nevertheless, the advantages of self-injectable injections and increasing awareness of self-administration may help in driving the overall market growth during the forecast period.
The Chinese drug delivery devices market is competitive and consists of several players. In terms of market share, few of the major players are currently dominating the market and some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions in the country. Some of the companies that are currently domianting the market are Gerresheimer AG, Pfizer Inc., F. Hoffmann-La Roche AG, Becton, Dickinson and Company, and Teva Pharmaceutical Industries Ltd.
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