Market Overview:
According to the DataM market research report, the Global Injectable Drug Delivery Market reached US$ 607.3 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 1,364.1 billion by 2030. The injectable drug delivery market is expected to exhibit a CAGR of 10.9% during the forecast period (2023-2030).
The global injectable drug delivery market is segmented on the basis of product type, packaging, therapeutic application, distribution channel, and region. North America is estimated to hold around 39.4% of the global injectable drug delivery market owing to the increasing cases of chronic diseases such as diabetes, cancer, and CVD, among others, in this region.
The major global players in the market include Becton Dickinson & Company, Baxter International, Inc., Gerresheimer AG, Pfizer, Inc., Schott AG, Eli Lilly and Company, Sandoz, Terumo Corporation, Teva Pharmaceutical Industries Ltd, Corning Incorporated, and among others.
The injectable devices are employed to dispense pharmaceuticals or biologics either subcutaneously, intravenously, or intramuscularly and are regarded as injectable drug delivery devices. The injectable approach is the most repeatedly employed approach for the delivery of drugs with poor oral bioavailability, purposed targeted drug delivery procedures, and delivery of medications at the location of the action.
The growing number of chronic disease cases is driving the global market growth in the forecast period, among other factors.
Market Drivers:
The product advancements are driving the global injectable drug delivery market during the forecast period. For instance, in August 2022, a bunch of researchers from the UNC Medicine School of North Carolina, USA, designed an admiringly advanced Injectable Drug-Delivery System comprehended as Rifabutin for the treatment of Tuberculosis. It is typically indicated for those individuals who cannot take rifampin, like individuals with AIDS/HIV.
Market Restraints:
A large number of needle stick injuries is hampering the global injectable drug delivery market growth in the forecast period. For instance, CDC assesses that about 385,000 injuries making over 1,000 injuries per day with contaminated needles and other sharps apparatuses transpire yearly in hospital-based healthcare individuals.
Market Opportunities:
The expansion of pharmaceutical companies into emerging markets, such as Asia-Pacific and Latin America, presents untapped opportunities for growth in the injectable drug delivery market. As healthcare systems continue to focus on patient-centric care and personalized medicine, the demand for specialized injectable drug delivery systems is likely to increase. With ongoing research and development efforts, collaborations, and technological advancements, the global injectable drug delivery market is expected to witness significant growth and open up new avenues for market players in the future.
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Artificial Intelligence Impact Analysis
Artificial intelligence is having a positive impact on the global injectable drug delivery market owing to increasing product developments. For instance, a group of investigators has harnessed Google’s AI venture DeepMind to design a bacterial injection system that can inject proteins, such as cancer-killing medicines and gene treatments, directly into human cells.
Russia-Ukraine Conflict Analysis:
The Russia-Ukraine war has had a negative influence on the market since the Russian invasion of Ukraine, with 292 attacks have damaged or destroyed 218 hospitals and clinics, over 65 attacks on ambulances, and 181 attacks on other health infrastructure, like blood centers, dental clinics, and pharmacies.
Recent Developments in the Industry:
- In January 2022, West Pharmaceutical Services, a multinational leader in visionary solutions for injectable drug administration, formed an exclusive supply and technology contract with Corning Incorporated, an American global technology corporation that specializes in specialty ceramics, glass, and connected materials and technologies such as state-of-the-art optics, especially for industrial and scientific uses.
- In February 2022, Owen Mumford Pharmaceutical Services received authorization for its UniSafe 1mL safety device for pre-filled syringes as a combination product in Asia. In Europe, regulatory clearance has also been awarded, and the product is now obtainable on the market as a combination product with medication for the therapy of rheumatoid arthritis.
- In May 2022, Jabil Healthcare, the largest multinational provider of healthcare manufacturing solutions in the industry, introduced the Qfinity autoinjector platform, an easy, reusable, and modular solution for subcutaneous (SC) drug self-administration at a more inferior price than the market choices sustaining the emerging prioritization of endurable drug delivery in the pharmaceutical enterprise.
Market Segmentation:
As per the research analysis, the global injectable drug delivery market is segmented by product type into devices and formulations; by packaging into vials, ampule, bottle, cartridges, and others; by therapeutic application into autoimmune disease, hormonal disorders, orphan disease, cancer, and other therapeutic diseases; by route of administration into intradermal, central nervous system, and Others; and by distribution channel into online pharmacies, retail pharmacies, hospital pharmacies, and others.
- Based on Product type, the device product type segment is estimated to dominate the global injectable drug delivery market by holding 52.6% of the total market, owing to the increasing number of product approvals in this segment. For instance, in February 2023, Innovation Zed, an Irish R&D corporation specializing in the creation, development, and fabrication of medical technologies, received CE Mark authorization for its InsulCheck DOSE add-on device, a single-unit add-on device for pen injectors.
Geographical Classification:
The global injectable drug delivery market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.
North America Injectable Drug Delivery Market
North America is estimated to hold around 39.4% of the global injectable drug delivery market owing to the increasing cases of chronic diseases such as diabetes, cancer, and CVD, among others, in this region. For instance, according to the International Diabetes Federation, over 51 million adults (20-79) with diabetes lived in the IDF North America and Caribbean province in 2021, and is estimated to grow to about 63 million by 2045.
Market KeyPlayers:
The major global players in the market include Becton Dickinson & Company, Baxter International, Inc., Gerresheimer AG, Pfizer, Inc., Schott AG, Eli Lilly and Company, Sandoz, Terumo Corporation, Teva Pharmaceutical Industries Ltd, Corning Incorporated, and among others.
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Additional Benefits Post Purchase:
1) Unlimited Analyst support for a period of 1 year.
2) Any query with regard to the scope offered will be addressed within 24- 48 hours.
3) An Excel sheet with market numbers will be provided separately.
The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).
- Visualize the composition of the global injectable drug delivery market by product type, packaging, therapeutic application, distribution channel, and region, highlighting the key commercial assets and players.
- By Product Type: Devices and Formulations
- By Packaging: Vials, Ampule, Bottle, Cartridges, Others
- By Therapeutic application: Autoimmune Disease, Hormonal Disorders, Orphan disease, Cancer, Other therapeutic diseases
- By Route of Administration: Intradermal, Central Nervous System, Others
- By Distribution Channel: Online Pharmacies, Retail pharmacies, Hospital Pharmacies, Others
- By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
- Identify commercial opportunities in the global injectable drug delivery market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as Porter’s five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.
- Excel data sheet with thousands of data points of global injectable drug delivery market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in Excel for the key product of all major market players
The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.
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