The global injectable drug delivery market size reached USD 15.13 Billion in 2021 and is expected to register a revenue CAGR of 9.1% during the forecast period, according to latest analysis by Emergen Research.
The global injectable drug delivery market size reached USD 15.13 Billion in 2021 and is expected to register a revenue CAGR of 9.1% during the forecast period, according to latest analysis by Emergen Research. The Increasing demand for biologics and vaccines, rising preference for injectable drug delivery systems over conventional oral drug delivery methods, technological advancements in drug delivery devices, and the favorable reimbursement policies are some of the major factors driving the market growth.
Initially, medication was only available in oral form, which was the most common route of administration. However, with the advancement in science and technology, various other routes of administration have been developed such as dermal, pulmonary, ocular, buccal, rectal, vaginal, and parenteral. Among these, parenteral is the most widely used route for the delivery of drugs as it helps in bypassing the body’s natural defenses. Parenteral administration involves injecting a drug directly into the bloodstream. The various types of parenteral administrations include intramuscular, intravenous, subcutaneous, and epidural.
Advanced injectable devices are preferred by patients and physicians as they facilitate easy and painless drug delivery. The traditional syringes are being replaced by advanced technologies such as autoinjectors, pen injectors, and needle-free injectors. Also, the increasing preference for self-administration of drugs is projected to boost the demand for autoinjectors during the forecast period.
The injectable drug delivery market is majorly driven by the technological advancement in injectable drug delivery devices. The advancements in technology have resulted in the development of new and improved injectable drug delivery devices, which offer various advantages over conventional drug delivery systems, such as higher accuracy, less pain, and easy to use.
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The rising prevalence of chronic diseases, such as cancer, diabetes, and cardiovascular diseases, is another major factor driving the growth of the injectable drug delivery market. According to the World Health Organization (WHO), chronic diseases are responsible for nearly 60% of all deaths globally. The WHO estimates that the number of people with chronic diseases will rise to 55% by 2025.
The increasing government support for the development of new and improved injectable drug delivery devices is another major factor driving the growth of the market. Governments across the globe are investing heavily in research and development activities for the development of novel drug delivery systems. For instance, in July 2019, the U.S. Food and Drug Administration (FDA) approved the first 3D-printed drug, Spritam (levetiracetam), for the treatment of epilepsy.
Some Key Highlights From the Report
- In terms of product type, the prefilled syringes segment accounted for the largest market share in 2020. The segment is further expected to grow at the highest CAGR over the forecast period due to the increasing preference for prefilled syringes over conventional syringes and vials.
- In terms of disease type, the cancer segment accounted for the largest market share in 2020. The segment is further expected to grow at the highest CAGR over the forecast period due to the increasing incidence of cancer and the growing demand for targeted cancer therapies.
- In terms of route of administration, the parenteral segment accounted for the largest market share in 2020. The segment is further expected to grow at the highest CAGR over the forecast period due to the increasing preference for parenteral drug delivery over other routes of administration.
- In terms of end-use, the hospitals segment accounted for the largest market share in 2020. The segment is further expected to grow at the highest CAGR over the forecast period due to the increasing number of hospitalizations and surgical procedures.
- In terms of region, North America accounted for the largest market share in 2020. The region is further expected to grow at the highest CAGR over the forecast period due to the presence of a large number of pharmaceutical and biotechnology companies, favorable reimbursement policies, and the availability of advanced healthcare infrastructure.
- Some major companies in 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.
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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
- Regional Outlook (Revenue, USD Billion; 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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