Injectable Drug Delivery Market Size 2022-2030 - Increased Use Of Contraceptive Injectable

Increasing prevalence of life-threatening diseases and development of smart wearable devices is driving injectable drug delivery market revenue growth.

Increasing prevalence of life-threatening diseases and development of smart wearable devices is driving injectable drug delivery market revenue growth

The global injectable drug delivery market size is expected to reach USD 81.46 Billion in 2030 and register a revenue CAGR of 8.9% over the forecast period, according to the latest report by Reports and Data. Rising trend of pre-filled syringes coupled with technological advancements is driving injectable drug delivery market revenue growth.

Initially, tablets, pills, or capsules were the only forms of medication. However, drugs are now delivered using more technologically advanced and intelligent systems. These systems are designed to deliver drugs to the targeted area, allowing them to be more localized than would otherwise be possible to reach through the blood stream. Patients who rely on medications on a daily basis prefer advanced injection devices compared to traditional ones. Given this, increasing need for effective and convenient drug delivery systems presents lucrative growth opportunity for manufacturers to develop sophisticated, user-friendly, and effective drug delivery devices.

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Rising prevalence of chronic ailments and other life-threatening diseases underlines the need for novel and effective drugs in a variety of therapeutic areas. Injectable drugs’ convenience and at-home accessibilities are compelling manufacturers and pharmaceutical companies to develop efficient devices for treatment of a variety of illnesses. In recent years, for example, the use of injectable contraceptives has increased significantly. This is towing to high efficacy and convenience provided by these injectables. These contraceptives do not have to be taken on a daily basis; they can be given once a month or every three months. As a result of this factor, revenue of these injectables is growing rapidly. In addition, timely drug approvals from regulatory bodies such as the Food and Drug Administration (FDA) and Medicines and Healthcare Products Regulatory Agency (MHRA) have expanded the scope for injectable drug delivery. Furthermore, collaborations between pharmaceutical companies and research organizations for drug research and development are expected to drive market growth during the forecast period.

Some Key Highlights from the Report

In November 2021, Becton, Dickinson and Company, based in Franklin Lake, New Jersey, US, launched BD Ultrasafe Plus 2.25 ml Passive Needle Guard for use in drug-device combo products by pharmaceutical companies. BD UltraSafe PlusTM 2.25 mL’s innovative design compliments biopharmaceutical companies’ to combine effective product strategy by enabling patient-controlled injection for complex and high-viscosity medicines.

Conventional injectables segment accounted for largest revenue share in 2020, owing to higher sales of traditional syringes due to rising prevalence of infectious diseases required in hospital and increasing number of surgeries worldwide. Furthermore, rapid immunization programs have also contributed to the growth of the segment.

Injectable sterile products segment is expected to register high growth rate during the forecast period. Increased demand for injectable sterile products can be attributed to improved quality assurance and storability. Additionally, injectable sterile products are pathogen-free and thus pose a lower risk of infection, which aids in segment revenue growth.

Market in North America accounted for largest revenue share in 2020. In the US, rising prevalence of chronic diseases such as cancer and diabetes is increasing demand for smart and effective drug delivery options for better treatment. This in turn is spurring product development by manufacturers and research institutes in the region. Furthermore, presence of a robust healthcare sector, public healthcare reimbursements, and online delivery of medical devices and medications is expected to continue to boost market growth in this region.

Companies profiled in the global market report includes Vetter Pharma, Akorn Operating Company LLC, Catalent, Inc., Pfizer Inc., Gerresheimer AG, Elcam Medical, Schott, SHL Medical AG, Becton, Dickinson & Company, and West Pharmaceutical Services, Inc.

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For the purpose of this report, Reports and Data has segmented injectable drug delivery market based on device type, product type, end-use, and region:

Device Type Outlook (Revenue, USD Billion; 2018–2030)

Conventional Injectables

Pre-Filled Syringes

Auto-Injectors

Pen-Injectors

Product Type Outlook (Revenue, USD Billion; 2018–2030)

Freeze-dried Products

Injectable Sterile Products

End-use Outlook (Revenue, USD Billion; 2018–2030)

Hospitals

Homecare Settings

Clinics

Others

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Regional Outlook (Revenue, USD Billion; 2018–2030)

North America

US

Canada

Mexico

Europe

Germany

UK

France

Italy

Spain

Sweden

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Israel

Rest of MEA

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Some points on how the report benefits stakeholders:

The reports include historical (2019–2020) and forecast (2021–2030) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.

Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.

The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.

The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.

Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.

The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

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