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Strict Regulatory Framework Poses a Challenge to South Korea's Drug Delivery Systems Market: Ken Re by Ankur Gupta
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Strict Regulatory Framework Poses a Challenge to South Korea's Drug Delivery Systems Market: Ken Re by ANKUR GUPTA
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| Article Posted: 12/26/2017 |
| Article Views: 378 |
| Articles Written: 1063 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 1085 |
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Strict Regulatory Framework Poses a Challenge to South Korea's Drug Delivery Systems Market: Ken Re |
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Health
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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 To know more, Click on the link below https://www.kenresearch.com/healthcare/medical-devices/south-korea-drug-delivery-devices/135990-91.html Related Reports: https://www.kenresearch.com/healthcare/medical-devices/canada-drug-delivery-devices/135997-91.html https://www.kenresearch.com/healthcare/medical-devices/brazil-drug-delivery-devices/135996-91.html Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications sales@kenresearch.com 0124-4230204
Related Articles -
Nazal Spray Demand South Korea, Infusion Pump Demand South Korea, Drug Eluting Stent Market South Korea,
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