Injectable Drug Delivery Devices Market Analysis by Product Type (Conventional, and Self-Injection Devices); by End Users (Hospital, Homecare, Clinics, and Others); and by Application (Curative Pattern, and Immunization)-Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

Injectable Drug Delivery Devices Market Report Scope

Global Injectable Drug Delivery Devices Market Size, Forecast, and Trend Highlights Over 2022 - 2031

The global injectable drug delivery devices market is estimated to garner a revenue of approximately USD 1,335.0 Billion by the end of 2031 by growing at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of approximately USD 561.0 Billion in the year 2021. The growth of the market can be attributed to a rise in the number of needlestuck cases leading to sharp injuries. As per the data provided by World Health Organization in 2021, there were more than 2 million occupational exposures to needle stick injuries.

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Drug delivery systems (DDS) relate to the technology that allows therapeutic substances to reach a specific location of the body in a controlled manner. The drug delivery systems are categorised into 4 main types on the basis of route of delivery, such as swallowing, absorption through the skin, injection, and inhalation. Among them, injections are used increasingly in order to treat any disease. For instance, 5.26 billion people across the globe have received a dose of vaccine that accounts for 68.5 percent of the world’s total population. Therefore, it is anticipated to spur the growth of the global injectable drug delivery devices market.

Global Injectable Drug Delivery Devices Market: Growth Drivers and Challenges

Growth Drivers

• Growing Health Awareness Among the Population– Growing health awareness among the population has increased the life expectancy at birth years owing to a number of factors such as better education and improved lifestyle, access to better health services, and others. Therefore, access to better health services is expected to drive the growth of the global injectable drug delivery devices market. As per the data released by the World Bank, life expectancy at birth has shown an increasing trend from 2005 to 2020. Furthermore, the data shows that the life expectancy at birth reached 70 years in 2020 up from 65 percent in 2005.

• Increasing in the Prevalence of Chronic Diseases – There has a been rise in the demand for medicine in order to treat chronic diseases, that is expected to surge the growth of the global injectable drug delivery devices market. According to the World Health Organization, more than 15 million people die each year owing to non-communicable diseases. Among them, diabetes caused 1.5 million deaths across the globe.

• Rising Elderly Population – The injectable drug delivery devices market size is expected to increase, owing to the rise in the elderly population. Furthermore, there are different factors to consider for which injectable mode is opted for transmitting the drugs, such as chewing difficulties. According to the data stated by the Union Nations, the elderly population is expected to double accounting for 1.5 billion by the year 2050.

• Rising Demand for Biologics – Biologics are primarily administered through injectable mode. Therefore, rising demand for biologics for the treatment of diseases is anticipated to drive the growth of the global injectable drug delivery devices market. Vaccines and other biological products save millions of lives each year, according to World Health Organization statistics published in 2020. Furthermore, vaccines contribute to the reduction of the global disease burden, which is estimated to save 2-3 million lives each year.

• Surging Disposable Income- With the surge in disposable income, there has been rise in the demand for advanced products and services for better living standards, and it is projected to rise the growth of the global injectable drug delivery devices market. As per the data published by the Bureau of Economic Analysis in May 2022, disposable personal income has increased by 0.5 percent representing USD 96.5 Billion in the United States.

Challenges

• Growing Emergence of Alternative Drug Delivery Devices System

• High Cost of Injectable Drug Delivery Devices

• Strict Regulatory Approval Required for Injectable Drug Delivery Devices

The global injectable drug delivery devices market is segmented and analyzed for demand and supply by is segmented by product type into conventional injection devices and self-injection devices. Among, them the self-injection devices segment is anticipated to hold the major share of the market and is expected to grow with a moderate CAGR during the forecast period. The growth of the segment can be attributed to an increase in the continuous rates of diabetic patients, which leads to the high demand for insulin on daily basis. According to the World Bank, approximately 1.5 million deaths were caused by diabetes in 2019, representing the ninth leading causes of death. Moreover, there has been an increasing trend of diabetes in the past few years among the population. For instance, the percentage of the total population aged between 20 t0 90 has been raised from 8.2 percent in 2011 to 9.8 percent in 2021.

Global Injectable Drug Delivery Devices Market Regional Synopsis

Regionally, the global injectable drug delivery devices market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2031. This can be attributed to a growing awareness of needle-free injectors, an increase in the field of injections, pharmaceutical companies, a rise in the prevalence of chronic diseases, and the development of the latest technologies during the forecast period. According to the National Centre for Chronic Diseases Prevention and Health Promotion (NCCDPHP), 6 out of 10 Americans are living their lives with at least 1 chronic disease that leads to the majority of deaths and is a major driver of health care costs.

However, the market in the Asia Pacific region is anticipated to grow at a higher CAGR over the forecast period owing to factors such as the increasing elderly population, rising chronic diseases, and improving healthcare facilities.

Market Segmentation

Our in-depth analysis of the global injectable drug delivery devices market includes the following segments:

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Key Companies Dominating the Global Injectable Drug Delivery Devices Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global injectable drug delivery devices market that are included in our report are Alkermes, Inc., Genentech, Inc., Eli Lilly and Company, Baxter International, Inc., Pfizer Inc., AbbVie Inc., Becton, Dickinson and Company, Elcam Medical, Gerresheimer AG, 3M, and others.

Global Injectable Drug Delivery Devices Market: Latest Developments

• May, 2022- The US Food and Drug Administration (FDA) approved Eli Lilly and Company’s, Mounjaro (tirzepatide) injection which is the first and only GIP and GLP-1 receptor agonist for the treatment of type 2 diabetes among adults.

• August, 2021:  AbbVie Inc., announced SKYRIZI, an interlukin-23 (IL-23) inhibitor, to be available in the U.S. for the treatment of severe plaque psoriasis among adults.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goals.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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