Convenience and At-Home Accessibility Afforded by Injectable Pharmaceuticals are Key Factors Driving Industry Demand, Says Emergen Research
Special Instructions [verticals to Target] – Healthcare, Pharmaceutical, Medical, Injectables, Pre-Filled Syringes, Auto-Injectors, Pen-Injectors, Hospitals, Homecare Settings, Clinics
VANCOUVER, B.C., Mar. 30, 2022 /PRNewswire/ --The global injectable drug delivery market size reached USD 15.13 Billion in 2021 and is expected to register a significantly rapid revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Increasing application in medical surgeries is a major factor driving market revenue growth.
Drivers:
Injectable contraceptives are another development driving demand for injectable drug delivery. A hormone injection intended to prevent a woman from becoming pregnant is known as a contraceptive injection. The main component is Depot Medroxyprogesterone Acetate (DMPA). It is an injectable contraceptive that gives three months of highly efficient reversible contraception. By releasing DMPA, a progestin, the shot slows ovulation and thickens cervical mucus. It also helps to keep sperm from fertilizing eggs. A clinician can inject DMPA into the patient’s muscle, or the patient can inject it oneself at home. The shot, however, must be evaluated every 12 weeks for it to be effective.
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The non-contraceptive benefits of the DMPA shot are numerous. DMPA, for example, does not have the same major estrogen-related adverse effects as estrogen, such as thrombosis. Dysmenorrhea is also less common, as are the chances of endometrial and ovarian cancer. Furthermore, because it is estrogen-free, it is suitable for women who are unable to take estrogen-containing products. It is also suitable for women who are breastfeeding.
Restraints:
Even though the fact that chronic diseases such as hormonal and autoimmune disorders are becoming more common globally, several issues are inhibiting the market growth. The high cost of modern injectable products is an example of this. Furthermore, when modern technologies such as pen-injectors and auto-injectors are employed, the expense of treating conditions such as Type I diabetes is higher. Furthermore, the lack of suitable reimbursement rules has impeded the adoption of these items and devices, particularly in developing countries. People in emerging economies prefer traditional injectable medicines over sophisticated ones due to the aforementioned considerations, posing a huge market challenge.
Growth Projections:
The global injectable drug delivery market is expected to register a CAGR of 9.1% over the forecast period and revenue is projected to increase from USD 15.13 Billion in 2021 to USD 83.38 Billion in 2030. Increasing investments by prominent market players is one of the major factors propelling market revenue growth.
COVID-19 Impact Analysis:
The COVID-19 pandemic had both positive and negative effects on the healthcare industry. Hospital systems were overburdened, putting enormous strain on the availability of medical supplies for each patient and the hospital. Furthermore, the growing demand for medical supplies such as injections, pre-filled syringes, and others led manufacturers’ to increase production capacity to meet the demand-supply balance. Even though the fact that the COVID-19 pandemic had a negative impact on the supply chain of certain injectable drug delivery systems due to frequent lockdowns and limited cross-border trade, the market is gaining traction now that trade restrictions have been lifted.
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Current Trends and Innovations:
Following the COVID-19 pandemic, a greater emphasis has been placed on cleanliness and safety, and many pharmaceutical companies have begun to improve their packaging and sterilization supplies. They also began to change and upgrade their supplier offerings. For instance, in December 2021, Comar, LLC, a leading provider of custom medical devices and specialty packaging solutions, based in Voorhees Township, New Jersey, US announced the acquisition of Omega Packaging, a manufacturer of injection and blow-molded products for the pharmaceutical, nutraceutical, and skincare markets to provide effective child-resistant closures and jar products to serve healthcare customers. As a result, future merger & acquisition strategies are more likely to include high-end products, increasing market demand.
Geographical Outlook:
Market in Asia Pacific accounted for second-largest revenue share in 2021, because of increasing demand for injectable drug delivery devices from healthcare industry. China is expected to play a significant role in the region’s market expansion. China’s government is boosting its spending on healthcare, creating a climate that is conducive to the development of novel pharmaceuticals in the country. Moreover, due to abundant low-cost raw materials and increasing demand for branded pharmaceuticals, a number of foreign pharmaceutical companies are looking to expand their operations in China.
Strategic Initiatives:
Major companies included in the global market report include 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.
- In January 2020, DALI Medical Systems, a Yavne, Israel-based manufacturer and distributor of drug delivery devices, introduced the SAN-Light passive safety needle with a revolutionary medication product that allows for easy administration. SAN-Light is a single-use hypodermic safety needle that works with any Luer-lock syringe for drug delivery.
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Emergen Research has segmented global injectable drug delivery market on the basis of device type, product type, end-use, and region:
- Device Type Outlook (Revenue, USD Billion; 2019-2030)
- Conventional Injectables
- Pre-Filled Syringes
- Auto-Injectors
- Pen-Injectors
- Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Freeze-Dried Products
- Injectable Sterile Products
- End-use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals
- Homecare Settings
- Clinics
- Others
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- Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- 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
- Turkey
- Rest of MEA
- North America
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