Pune, India, Aug. 09, 2021 (GLOBE NEWSWIRE) -- The Global Injectable Drug Delivery Market Size is expected to value USD 800.34 million in 2021 and is projected to grow at a CAGR of 10.9 % during the forecast period. Drug delivery refers to formulations, technologies, approaches, and systems for carrying a pharmaceutical compound in the body. The injectable drug delivery devices comprise needle-free injectors, auto-injectors, conventional syringes, and pen injectors. The increase in the demand for self-injection devices is one of the key factors expected to drive market growth.
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Increasing prevalence of chronic diseases such as cancer and diabetes are also expected to contribute to market growth during the forecast period. Increasing demand for drug delivery systems and treatment of diseases, such as hepatitis C, Wilson’s disease, autoimmune diseases, hemophilia, and cystic fibrosis using injectables, is also expected to boost the market growth.
Increase in healthcare spending and a rise in R&D investments are amongst major factors expected to drive the injectable drug delivery market growth. The rise in demand for generic injectables and biosimilar, rapid technological advancements in the field of injectable drug delivery will create new opportunities for the market during the forecast period.
The new product introductions, and high growth in the biologics market is expected to offer significant growth opportunities for the market during the forecast period.
Global Injectable Drug Delivery Market, by Type
Based on type, the injectable drug delivery market is segmented into devices, and formulation type. The devices type segment is further sub segmented into conventional injection devices, self-injection devices. The formulations type is further sub segmented into conventional drug delivery formulations, novel drug delivery formulations, and long-acting injection formulations.
Among these, the formulations type formulation segment is the fastest-growing segment in 2021 and is expected to remain fastest-growing during the forecast period. The segment growth can be attributed to growing patient adherence, increasing prevalence of chronic diseases, and increasing acceptance of self-injection and new technologies.
Global Injectable Drug Delivery Market, by Injection Device Material
Based on injection device material, the injectable drug delivery market is segmented into glass and plastics. The glass segment hold the fastest growing segment in 2021, and anticipated to remain fastest growing during the forecast period.
The segment growth can be because glass poses a hindrance to atmospheric gases, such as oxygen, and carbon dioxide from entering the primary container, mitigating the risk of drug contamination.
Global Injectable Drug Delivery Market, by Formulation Packaging
Based on formulation packaging, the injectable drug delivery market is segmented into ampules, vials, cartridges, and bottles. The vials segment holds the largest market share in 2021 and is expected to remain the largest during the forecast period. The segment growth can be because vials offer better thermal insulation, permitting them to keep their contents at the right temperature at all times.
Global Injectable Drug Delivery Market, by Therapeutic Application
Based on therapeutic application, the injectable drug delivery market is segmented into auto-immune diseases, hormonal disorders, orphan diseases, oncology, and others. The oncology segment holds the largest market in 2021 and is expected to remain the largest market during the forecast period. The segment growth can be attributed to the high demand for injectable drugs from the oncology sector.
Global Injectable Drug Delivery Market, by Usage Pattern
Based on usage pattern, the market is segmented into curative care, immunization, and others. The curative care segment holds the largest market in 2021 and is expected to remain the largest during the forecast period. The segment growth can be attributed to the high usage of injectable drugs in curative care for various diseases such as cancer.
Global Injectable Drug Delivery Market, by Site of Administration
Based on site of administration, the injectable drug delivery market is segmented into skin, circulatory/musculoskeletal, organs, and central nervous system. The organs segment holds the largest market share in 2021 and is expected to be the largest during the forecast period. The segment growth can be attributed to numerous technological advancements and new product introductions to accelerate the convenience and ease of administration of parenteral therapeutics.
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Global Injectable Drug Delivery Market, by Distribution Channel
Based on distribution channel, the injectable drug delivery market is segmented into hospitals, and retail pharmacy stores. The hospitals and clinics segment holds the largest market share in 2021 and is expected to be the largest market during the forecast period. The segment growth can be due to increasing occurrence of chronic diseases, technological advancements, and patient compliance.
Global Injectable Drug Delivery Market, by End Use
Based on end use, the injectable drug delivery market is segmented into hospitals and clinics, home care settings, and others. The hospitals and clinics segment holds the largest market share in 2021 and is expected to be the largest market during the forecast period. The growth of market is attributed to increasing occurrence of chronic diseases, technological advancements, and patient compliance.
Global Injectable Drug Delivery Market, by Region
Based on region, the injectable drug delivery market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. North America holds the largest market size in 2021, and is estimated to remain the largest market during the forecast period. Factors driving the regional market growth are increasing incidence of chronic diseases, increasing demand of self-injection devices, and growth of biologics market.
In addition, increased R&D investments, rise in healthcare expenditure, and government initiatives to increase awareness about chronic diseases are other factors contributing to regional injectable drug delivery market.
Some Recent Developments in the Global Injectable Drug Delivery Market:
- July 2019- EVER Neuro Pharma GmbH introduced D-MINE pump for patients of Parkinson’s disease. The device delivers constant subcutaneous drug delivery and is appropriate for use of patient.
- June 2018, AbbVie Inc. and Eisai Co., Ltd introduced an auto-injector for Humira drug accountable in treatment of autoimmune diseases.
- November 2017, West Pharmaceutical Services, Inc., presented new extension of SMARTDOSE drug delivery platform including wearable injectors.
COVID-19 Impact on Global Injectable Drug Delivery Market
The QMI team is closely observing the effect of COVID-19 on injectable drug delivery market. The healthcare segment is overburdened with huge number of patients than the number of beds existing. Most businesses are at a temporary halt while some others are going an extra mile to create enough revenue. The injectable drug delivery market has positive impact due to increasing demand for drug delivery for COVID-19 patients and other disease as cancer, diabetics etc.
Some Major Findings of the Global Injectable Drug Delivery Market Include:
- Major global market trend & forecasts analysis along with a country-specific market analysis for up to 25 countries
- An in-depth global injectable drug delivery market analysis by the aforementioned segments, along with an analysis of trend-based insights and factors
- Profiles of major market players operating in the global injectable drug delivery market, which include Baxter International, Inc., Becton, Dickinson and Company, Gerresheimer Ag, Pfizer, Inc., Schott Ag, Eli Lilly and Company, Sandoz (A Division of Novartis Ag), Terumo Corporation, and Teva Pharmaceutical Industries Ltd.
- Competitive benchmarking, product offering details, growth strategies adopted by the leading market players, along with their major investments in the last five years
- Key impact factor analysis across regions that include analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global market
- Impact of COVID-19 on the global injectable drug delivery market
Browse key industry insights spread across 165 pages with 85 market data tables and 41 figures & charts from the report, “Injectable Drug Delivery Market, by Type (Devices, Formulations), Injection Device Material (Glass, Plastic), Formulation Packaging (Ampules, Vials, Cartridges, Bottles), Therapeutic Application (Auto-Immune Diseases, Hormonal Disorders, Orphan Diseases, Oncology, Other), Usage Pattern (Curative Care, Immunization, Other), Site of Administration (Skin, Circulatory/Musculoskeletal, Organs, Central Nervous System), Distribution Channel (Hospitals, Retail Pharmacy Stores), End Use (Hospitals and Clinics, Home Care Settings, Other), and Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) – Market Size and Forecasting to 2030” in-depth analysis along with the table of contents (ToC).
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