Global Injectable Drug Delivery Market By Product Type (Devices (Conventional injection device, Self-injection devices, Autoinjectors, Pen Injectors, Wearable injectors, Other devices), Formulations, Novel drug formulations (Niosomes, Liposomes, Polymeric/mixed cells, Microparticles)), By Packaging (Vials, Ampule, Bottle, Cartridges, Others), By Therapeutic application (Autoimmune Disease, Hormonal Disorders, Orphan disease, Cancer, Other therapeutic diseases), By Distribution Channel (Online Pharmacies, Retail pharmacies, Hospital Pharmacies, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
The "Global Injectable Drug Delivery Market" is expected to grow at a high CAGR of 10.5% during the forecasting period (2022-2029)
- Administration of drugs to manage prevailing diseases is a general process followed across the globe. The injectable drug delivery includes the use of needles or similar objects that are penetrated the skin for the administration of the drug.
- Continuous innovations are subjected to improve the experience of patients during injectable drug delivery with the help of certain reminders, self-use of devices, connectivity of smartphones, and others.
- Moreover, the current self-injection devices including pen injectors and needle-free injectors have made injectable drug delivery comparatively easier.
- An increase in prevalence of chronic diseases, extensive usage of biologics, the convenience offered by the syringes, and the ease of dispensing the drug at the exact proportions are driving the global injectables drug delivery market.
- The increase in the prevalence of cancer and diabetes in recent years where injectable drugs are used in the treatment and the current trend in developing the safety syringes, prefilled syringes, and autoinjectors are amplifying the market.
- The prevalence of the self-care trend where patients prefer drug administration in the convenience of their home deprived of any medical assistance is further boosting new developments in the injectable drug delivery landscape.
- Major factors hindering the global injectable drug delivery market are the presence of alternatives to drug delivery methods and safety concerns due to the increase in needle sticks during treatment.
- Global injectable drug delivery market is segmented by product type includes devices and formulations; by packaging type, includes ampul, bottle, cartridges, others.
- The therapeutic type includes autoimmune disease, hormonal disorders, orphan disease, cancer drugs, and other therapeutic diseases; by route of administration includes intradermal, central nervous system, and others and by distribution channel includes online pharmacies, retail pharmacies, hospital pharmacies, and others.
- The formulation technologies segment dominate the global injectable drug delivery market due to rapid developments in nanotechnologies has yielded advancements in targeted drug delivery carriers such as liposomes, microspheres, and polymeric micelles.
- The increase in the need for targeted and sustained drug delivery in the treatment of chronic diseases and cost-effective delivery for high-priced medicines.
- The global injectable drug delivery market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa
- North America dominates the global injectable drug delivery market due to a rise in incidences of cardiovascular, arthritis & autoimmune diseases, high patient compliance for injectable drug delivery devices, growing geriatric population as they are prone to frequent health disorders and require treatment, where these injectable are frequently used, are driving the global injectable drug delivery market.
- According to RAND Corporation in 2017, 60% of U.S adults are living with one form of chronic disease, and 42 are leaving with more than one type of chronic disease.
- According to the American Autoimmune Related Diseases Association Inc, in 2017 estimated that about 5o million or 20% population or one in five in America are suffering from autoimmune disease and 3/4th of that constitutes to women.
- According to the Centers Of Disease Control And Prevention in 2017 estimated that 54.4 million u.s adults are living with arthritis and estimated to increase about a 78million (28%) by 2040.
- China and India are estimated to be the fastest-growing region in global injectable drug delivery market due to an increase in healthcare expenditure, rise in healthcare awareness, a large pool of patients, and increase in government funding.
- Mergers between the key players and research organizations in the development of novel devices and recent FDA approval in advanced injectors are driving the global injectable drug delivery market.
- In November 2018, Enable Injections made a strategic partnership with UCB and Apellis Pharmaceuticals for the development of patient-centric drug delivery.
- In August 2018, Antreas Pharma received FDA approval for generic EpiPen Utilizing VIBEX AutoInjector.
- In February 2018, Sandoz got FDA approval for generic and injectable MS drugs to treat replacing forms of multiple sclerosis.
- In November 2017, SHL Group and NYC Startup QuiO merged to Forge the Next Generation of Self-Treatment.
- In July 2017, Baxter Acquired Claris Injectables to expand its Generic Injectable Medicines Portfolio.
- Major market players in Injectable Drug DeliveryBecton Dickinson & Company, Baxter International, Inc., Gerresheimer AG, Pfizer, Inc., Schott AG, Eli Lilly and Company, Sandoz, Terumo Corporation, Teva Pharmaceutical Industries Ltd, and Others.
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