South Korea is one of the world’s most rapidly
industrializing countries with dense population. South Korea is Asia’s fifth
largest economy and world’s fifteenth largest economy. South Korea is also one
of the countries with lowest birth rate in the world and increasing aging
population. With pollution and increasing aged population there is an increase
in many lifestyle diseases such as diabetes, musculoskeletal disorder, chronic
respiratory diseases, neuropsychiatric disorders, various cancers,
tuberculosis, rising incidence of infectious diseases, parasitic diseases,
kidney disorders and many other diseases.
Drug delivery devices are central venous
catheters, needle free injections, infusion systems and metered dose inhaler
devices. These devices are used to administer medicinal drugs to the patients
which are dose-optimized systems with a higher level of safety and efficiency.
All the advanced medicinal drugs are supported by drug delivery technology and
therefore, the drug delivery devices market is developing rapidly. User
friendly drug delivery devices meet the growing needs of imminent drug
novelties and rising patients in South Korea. It was observed that there are
massive opportunities for manufacturers in drug delivery devices market which
is the key factor for future growth.
The major factors driving the growth in the
drug delivery devices in South Korea are increased prevalence of chronic
diseases, technological advances, increase in individual therapy, increased
understanding about drug metabolism among the population and requirement of
controlled drug release. The major challenges faced by the drug delivery
systems in South Korea are injuries, infections, high cost of development, and
strict regulatory framework. Various drug delivery devices available in South
Korea are injectable, transdermal, ocular, implantable, oral, nasal, topic and
pulmonary drug delivery devices. Injectable drug delivery system is the leading
and convenient drug delivery devices in the country. The increasing occurrence
of chronic and acute diseases along with the growing population has resulted in
an increased number of hospitalizations. These circumstances are driving the
growth of intravenous access devices market in the country.
According to the study “South
Korea Drug Delivery Devices Market Outlook to 2023-Central Venous Catheters,
Infusion Systems, Needle Free Injections and Metered Dose Inhaler Devices”,
all the surgical and nonsurgical procedures require intravenous access devices
such as IV port to administer medicinal drugs into a human system. The
development in surgical procedures, patient awareness has encouraged the
healthcare professionals to adopt intravenous access devices such as central
venous catheters and vascular access devices for safe and accurate drug
delivery. The intravenous drug access devices are categorized into intravenous
catheters and intravenous infusion pumps. These are used at dialysis centres,
home care, hospitals, clinics, and ambulatory surgical centres. Catheters are
of various types such as short peripheral intravenous catheters (PIVC),
integrated closed PIVCs, and peripherally inserted central catheters (PICC).
Central intravenous catheters (CIVC) are used for long-term intravenous access
during prevalence of chronic diseases. Therefore, CIVC device market is
experiencing a rapid growth in the intravenous catheters segment. There is a
huge demand for safety short PIVCs and advanced integrated or closed PIVCs and
increased emergency hospital visits. Almost all the specialists in various
multispecialty and big healthcare facilities employ PIVCs, CIVCs, and
intravenous infusion pumps to administer intravenous medication to the
patients.
The global intravenous access devices market
is fragmented due to high competition between global and regional players. The
leading player in global intravenous access devices are B. Braun Melsungen, BD,
C. R. Bard, Smiths Medical, TERUMO CORPORATION, AngioDynamics, APEXMED
International, Baxter, Cook Medical, Delta Med, EXELINT International, Fresenius,
GaltNeedleTech, Global Medikit, Hospira, ICU Medical, Medtronic, NIPRO Medical,
Promed Group, RenovoRx, Retractable Technologies, Teleflex, Vigmed, and Vygon.
Majority of the South Koreans prefer
self-administration of drugs using needle-free delivery devices to reduce or
avoid medical costs. Many of the patients in South Korea self-administer
medicinal drugs using a self-injectable medication. This has led to a huge
demand for needle-free drug delivery products, and encourages pharmaceutical
companies to invent new self-administration drugs. Many leading companies
around the world are investing heavily in the development of micro-needle drug
delivery systems with advanced technology. Various needle free drug delivery
systems are jet injectors and transdermal drug delivery systems. It was
observed that patients with needle phobia prefer pain-free injections and the
alternative is needle-fee drug delivery systems. The needle-free drug delivery
systems are used for insulin delivery, vaccination and pain management.
Pulmonary drug delivery systems are Dry powder
inhaler (DPI), Metered dose inhaler (MDI) and Nebulisers. These systems deposit
pulmonary drugs in the lungs for systemic therapeutic activity. Lungs have a
large surface area for absorption, high blood circulation, and high
permeability rate; therefore, majority of the chronic obstructive pulmonary
disorders are treated through pulmonary route. Pulmonary drugs delivery is
accomplished through intranasal administration or oral inhalative administration.
Oral inhalative administration includes intratracheal inhalation and
intratracheal instillation where drugs are delivered through MDIs, DPIs, and
nebulizers. The increasing chronic obstructive pulmonary disorder in South
Koreans due to industrial pollution has encouraged this market to continue
development.
Intranasal drug delivery systems are medical
devices used to administer drugs for local diseases in the nose and paranasal
sinus. The continuing technological advancements in intranasal drug delivery
system has encouraged efficient treatment for such cases. Transdermal drug
delivery system utilizes skin for drug administration into the human systemic
blood circulation. Various transdermal drug delivery systems are plasters,
various ointments and patches. Transdermal drug administration has several
advantages such as less traumatic compared to other drug delivery systems, and
it is effective when a patient receives a full dosage of any drug. The
transdermal drug delivery systems market in South Korea is ever-growing due to
its useful applications. It was observed that the South Korean drug delivery
devices market will continue growing in the upcoming years due to demand for
the drug delivery devices to treat the increasing health disorders developed by
westernization and pollution caused due to industrialization.
Key Topics
Covered in the Report:
South Korea Drug Delivery Devices Market
Research Report
South Korea Drug Delivery Devices Industry
Performance
South Korea Drug Delivery Devices Market Future
Outlook
Syringes Market Growth Outlook South Korea
Nebulizers’ Market Research South Korea
Nazal Spray Demand South Korea
Infusion Pump Demand South Korea
Drug Eluting Stent Market South Korea
South Korea Drug Delivery Pump Consumption in
Hospitals
South Korea Healthcare Industry
Medical Devices Market Revenue South Korea
South Korea Drug Delivery Devices Major
Manufacturers
South Korea Needle Free Injections Supplies
Infusion Systems Demand In Hospitals South
Korea
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Ken Research
Ankur Gupta, Head Marketing &
Communications
0124-4230204
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