Global Injectable Drug Delivery Devices Market Share Is Expected To Grow At A CAGR Of 10.25% By 2030

13-Jan-2023 | Facts and Factors

According to Facts and Factors, the global injectable drug delivery devices market size was worth around USD 618 billion in 2021 and is predicted to grow to around USD 1683 billion by 2030 with a compound annual growth rate (CAGR) of roughly 10.25% between 2022 and 2030.

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.

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

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.

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.

The increasing product innovation could provide growth opportunities while the rise in the availability of substitutes could challenge market growth.

Segmental Overview

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 Overview

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.

Report Scope

Competitive Landscape

The global injectable drug delivery devices market is home to players like Presage Bioscience, Schott, Novo Nordisk, Hospira, Gerresheimer, and Pfizer to name a few.

Recent 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

The global injectable drug delivery devices market is segmented as follows:

By End-User

• Hospitals
• Homecare
• Ambulatory Services

By Type

• Injectors
• Syringes
• Pumps

By Application

• Oncology
• Autoimmune Diseases
• Respiratory Therapy
• Pain Management
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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