The global injectable drug delivery market size is expected to reach USD 1,317.38 Billion in 2030 and register a revenue CAGR of 12.80% over the forecast period, according to the latest report by Reports and Data
The global injectable drug delivery market size is expected to reach USD 1,317.38 Billion in 2030 and register a revenue CAGR of 12.80% 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
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- 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.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
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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Injectable Drug Delivery Market Segmentation:
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
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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