NEW YORK, United States, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Injectable Drug Delivery Devices Market Size, Share, Growth Analysis Report By End-User (Hospitals, Homecare, and Ambulatory Services), By Type (Injectors, Syringes, and Pumps), By Application (Oncology, Autoimmune Diseases, Respiratory Therapy, Pain Management, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” in its research database.
The report analyses the Injectable Drug Delivery Devices market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Injectable Drug Delivery Devices market.
Injectable Drug Delivery Devices Market Overview:
When pharmaceutical companies start with drug innovation or development, they have to be mindful of the end goal they wish to achieve with a new launch or a new research event. Pharmaceutical companies have started understanding that the key to success is also measuring and staying on top of consumer expectations and demand. Growth in innovation and manufacturing related to injectable drug delivery services is driven due to the increasing preference of patients toward the quick and easy methods involved with injectable drugs in terms of medicine administration and efficiency.
The global injectable drug delivery devices market is registering a growing trend of patient-friendly drug delivery measures in the last few years aided by the use of advanced technology and higher investments as well as the growing freedom to try new measures which can enhance the patient experience.
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Key Insights from Primary Research
- As per the analysis, the Injectable Drug Delivery Devices market is likely to grow above a CAGR of around 10.25% between 2022 and 2030.
- The Injectable Drug Delivery Devices market size was worth around US$ 618 billion in 2021 and is estimated to hit approximately US$ 1683 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The market is projected to grow at a significant rate due to the growing number of medical patients across the world.
- Based on application segmentation, oncology was predicted to show maximum market share in the year 2021.
- Based on end-user segmentation, hospitals were the leading users in 2021.
- On the basis of region, North America was the leading revenue generator in 2021.
Industry Growth Drivers
- Increasing number of medical patients across the globe to propel market demand
The global injectable drug delivery devices market is anticipated to grow due to the growing investments in healthcare infrastructure across the globe. Quality and timely medical care is an important facet of a healthy population. It is also a primary right of every citizen. As the number of patients affected by different medical conditions grows, the demand for healthcare will also grow simultaneously. Medical care does not only affect patients but in the long run, it is responsible for the overall economic growth of the country. Such factors have influenced more private players to enter the pharmaceutical market encouraged by supportive government initiatives and policies. The investments are not limited to only the base country and have crossed international borders as well. Some of the current health trends in Australia include a higher emphasis on remote care, digital solutions for the elderly population, and developments in healthcare technology.
The key factor that could potentially lead to limited growth during the forecast period is the growing concern over correct disposable methods of injectable drug delivery devices as most of these pieces of equipment are meant for one-time use only and have to be discarded after use. If the region lacks a proper medical waste management system, it can lead to severe consequences. A recent survey noted that the capital city of Bangladesh, Dhaka generates around 1.63 to 1.99 kilograms of medical waste per bed per day. These numbers represent one small city and the same data remains incomprehensive when measuring global value.
Opportunities
- Increasing product innovation to provide growth opportunities
The increasing product innovation could provide growth opportunities while the rise in the availability of substitutes could challenge market growth.
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Competitive Players
The report contains qualitative and quantitative research on the global injectable drug delivery devices market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global injectable drug delivery devices market include;
- Presage Bioscience
- Schott
- Novo Nordisk
- Hospira
- Gerresheimer
- Pfizer
Browse the full “Injectable Drug Delivery Devices Market Size, Share, Growth Analysis Report By End-User (Hospitals, Homecare, and Ambulatory Services), By Type (Injectors, Syringes, and Pumps), By Application (Oncology, Autoimmune Diseases, Respiratory Therapy, Pain Management, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” Report at https://www.fnfresearch.com/injectable-drug-delivery-devices-market
Injectable Drug Delivery Devices Market: Segmentation Analysis
The global injectable drug delivery devices market is segmented based on end-user, type, application, and region
Based on type, the global market segments are injectors, syringes, and pumps. The global market was led by the syringes segment in 2021 since they are the most common type of medical device or equipment that has applications in almost all treatment plans including vaccine administration to high-risk operations. The device is a simple pump that reciprocates and consists of a plunger that can fit a cylindrical tube also called a barrel. They are used to administer medicine to withdraw body fluid for further testing. There are four main types of syringes called catheter tip, Luer slip, Luer lock, and an insulin syringe. The most common type of syringes are lubricated lock syringes and they can be used for fluids that have low viscosity. Over 7.5 billion needles and syringes are used every year outside of medical treatment procedures.
Based on application, the global market divisions are oncology, autoimmune diseases, respiratory therapy, pain management, and others. The global market registered significant revenue from the oncology segment due to the growing cancer cases across the world as well as increasing research to find cures for different types of cancer. The most common types of cancers include prostate cancer, breast cancer, rectal cancer, lung & bronchial cancer, and non-Hodgkin lymphoma amongst others. In 2020, more than 2.3 million women were diagnosed with breast cancer.
Regional Dominance:
- North America to lead with the highest market growth
North America is projected to lead the global injectable drug delivery devices market driven by the growing global dominance of some of the largest players originating from the US and other regional economies. During the pandemic, Pfizer and Moderna were leading the global battle against Covid-19 and they are both headquartered in the US. Growth in Asia-Pacific is anticipated to be led by the growing pharmaceutical and healthcare sectors of China, India, Japan, and other countries.
India, currently, is one of the top-ranking site-of-interest for many international players owing to the increasing population and a subsequent number of medical cases. For instance, a recent December 2022 report published by the Business World mentioned that Japanese firms are showing interest in India for investment in the country's healthcare sector. Sysmex Corporation was claimed to be at the forefront of growing international exposure in the nation’s medical care unit.
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Recent Industry Developments:
- In April 2020, Teva Pharmaceuticals, an Israel-based multinational pharmaceutical company, announced the launch of the AJOVY auto-injector in the US market. The injector is a preventive treatment for migraine
- In July 2022, BD (Becton, Dickinson and Company) announced the acquisition of Parata Systems which will enable BD to provide connected and new care settings to the patients
Key questions answered in this report:
- What is the market size and growth rate forecast for Injectable Drug Delivery Devices industry?
- What are the main driving factors propelling the Injectable Drug Delivery Devices Market forward?
- What are the leading companies in the Injectable Drug Delivery Devices Industry?
- What segments does the Injectable Drug Delivery Devices Market cover?
- How can I receive a free copy of the Injectable Drug Delivery Devices Market sample report and company profiles?
Report Scope:
| Report Attribute | Details |
| Market Size in 2021 | USD 618 Billion |
| Projected Market Size in 2030 | USD 1683 Billion |
| CAGR Growth Rate | 10.25% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2030 |
| Key Market Players | Presage Bioscience, Schott, Novo Nordisk, Hospira, Gerresheimer, Pfizer, and others. |
| Key Segment | By End-User, Type, Application, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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The global injectable drug delivery devices market is segmented as follows:
By End-User Segment Analysis
- Hospitals
- Homecare
- Ambulatory Services
By Type Segment Analysis
- Injectors
- Syringes
- Pumps
By Application Segment Analysis
- Oncology
- Autoimmune Diseases
- Respiratory Therapy
- Pain Management
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2022−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by End-User, Type, Application, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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