Injectable Drug Delivery Market Size Worth USD 27.8 Billion, Globally, by 2028 at 8.8% CAGR – Injectable Drug Delivery Industry Report by Vantage Market Research

WASHINGTON, July 18, 2022 (GLOBE NEWSWIRE) -- In recent years, the growing prevalence of chronic diseases and rise in the use of biological components is driving the Injectable Drug Delivery Market. This lifestyle change is the primary factor responsible for the increase in obesity rates, leading to many chronic diseases such as diabetes and cardiovascular disorders. The Global Market revenue stood at a value USD 16.8 Billion in 2021.

The Global Injectable Drug Delivery Market size is forecasted to reach USD 27.8 Billion by the year 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period; states Vantage Market Research, in a report, titled “Injectable Drug Delivery Market Size, Share & Trends Analysis Report by Type (Devices, Formulations), by Formulation Packaging (Ampules, Vials, Cartridges, Bottles), by Application (Auto-Immune Diseases, Hormonal Disorders, Orphan Diseases, Oncology), by Usage Pattern (Curative Care, Immunization), by Site of Administration (Skin, Circulatory/Musculoskeletal, Organs, Central Nervous System), by Distribution Channel (Hospitals, Retail Pharmacy Stores), by Facility of Use (Hospitals & Clinics, Home Care Settings), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Key Insights & Findings from the Report:

• According to our primary respondents’ research, the Injectable Drug Delivery market is predicted to grow at a CAGR of roughly 8.8% during the forecast period.
• The Injectable Drug Delivery market was estimated to be worth roughly USD 16.8 Billion in 2021 and is expected to reach USD 27.8 Billion by 2028; based on primary research.   
• On the basis of region, Asia Pacific is projected to dominate the worldwide Injectable Drug Delivery market.
  

Market Dynamics:

Drivers:

Increasing Patient demand for Ready-to-use (pre-filled), Reusable Syringes and Devices to the Drive Market Growth

Traditional drug delivery vials and syringes are prone to dosing and handling errors and a significant risk of infection. Alternatively, pre-filled syringes and reusable glass syringes, safe and highly effective medication delivery to the body, can be used to reduce this risk. The global market is growing because of increasing patient awareness and interest in a convenient and minimally invasive route of injectable drug delivery. Furthermore, the global injectable drug delivery market is driven by the advent of low-cost systems due to their effectiveness, on-target delivery, and ease. Again, the rapid growth of healthcare infrastructure and increasing innovations for developing novel drug delivery systems are expected to enhance product sales, aiding in the market's rise during the forecast period.

Growing Geriatric Population to Drive the Market's Growth

The growing geriatric population is driving the global injectable medicine delivery industry. A larger supply of generic drugs and dosages is required for the senior population. In addition, growing older brings a host of diseases, resulting in a surge in the drug delivery industry. Furthermore, the growing global biologics and biosimilar markets will significantly impact the growth of the injectable drug delivery market. In addition, expanding urbanization and disposable income are driving factors propelling the injectable medicine delivery industry forward. In addition, changing lifestyles and rising healthcare infrastructure spending are two essential industry drivers that will accelerate the growth of the injectable medication delivery market. Furthermore, increasing research and development activities would create good growth possibilities in the injectable medication delivery industry. Furthermore, during the projected period, enhancements in prod drug implants, chip-based drug delivery, and technological advancement would create good possibilities for injectable drug delivery market expansion.

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Segmentation of the Global Injectable Drug Delivery Market:

• Type
  • Devices
  • Formulations
• Formulation Packaging
  • Ampules
  • Vials
  • Cartridges
  • Bottles
• Application
  • Auto-Immune Diseases
  • Hormonal Disorders
  • Orphan Diseases
  • Oncology
  • Other Applications
• Usage Pattern
  • Curative Care
  • Immunization
  • Other Patterns
• Site of Administration
  • Skin
  • Circulatory/Musculoskeletal
  • Organs
  • Central Nervous System
• Distribution Channel
  • Hospitals
  • Retail Pharmacy Stores
• Facility of Use
  • Hospitals & Clinics
  • Home Care Settings
  • Other Facilities of Use
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the healthcare industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics

The Report on Injectable Drug Delivery Market Highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates, and Forecast
• Company Profiles
• Global and Regional Dynamics
  

Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "Injectable Drug Delivery Market Size, Share & Trends Analysis Report by Type (Devices, Formulations), by Formulation Packaging (Ampules, Vials, Cartridges, Bottles), by Application (Auto-Immune Diseases, Hormonal Disorders, Orphan Diseases, Oncology), by Usage Pattern (Curative Care, Immunization), by Site of Administration (Skin, Circulatory/Musculoskeletal, Organs, Central Nervous System), by Distribution Channel (Hospitals, Retail Pharmacy Stores), by Facility of Use (Hospitals & Clinics, Home Care Settings), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

Regional Analysis:

North America Dominated the Global Injectable Drug Delivery Market

North America dominated the global Injectable Drug Delivery Market in 2021. This is attributable to the increased adoption of novel injectable medication delivery systems among diabetes, cancer, and other autoimmune patients. Due to increased consciousness of these delivery systems, a larger patient pool, and a change from conventional drug delivery injection to ready-to-use injectable, the market in the region.

List of Prominent Players in Injectable Drug Delivery Market:

• Becton Dickinson & Company (U.S.)
• Pfizer Inc. (U.S.)
• Teva Pharmaceuticals Industries Ltd. (Israel)
• Eli Lilly & Company (U.S.)
• Baxter International Inc. (U.S.)
• Schott AG (Germany)
• Gerresheimer (Germany)
• Ypsomed (Switzerland)
• B. Braun Melsungen (Germany)
  

Recent Developments:

March 2020: Becton, Dickinson, and Company (BD) announced that the 50-subject human clinical trial for their experimental device, the BD Libertas Wearable Injector, was completed successfully.

April 2020: The AJOVY auto-injector was been commercially introduced in the United States, according to TEVA Pharmaceuticals USA, Inc. This device is designed to treat migraines in adults as a preventative measure.

Key questions answered in the report:

• Which regional market will show the highest and rapid growth?
• Which are the top five players of the Injectable Drug Delivery Market?
• How will the Injectable Drug Delivery Market change in the upcoming six years?
• Which application and product will take a lion’s share of the Injectable Drug Delivery Market?
• What is the Injectable Drug Delivery market drivers and restrictions?
• What will be the CAGR and size of the Injectable Drug Delivery Market throughout the forecast period?    

This market titled “Injectable Drug Delivery Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

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