The term “Injectable Drug Delivery Market” describes the practise of injecting drugs directly into the body. It is a widely utilised technique in healthcare settings for the administration of numerous pharmaceuticals, including hormones, vaccinations, antibiotics, and painkillers. Compared to other delivery methods like oral or topical, this route of medication administration has a number of benefits.
The capacity to deliver pharmaceuticals directly into the bloodstream or specific target tissues without going through the digestive system is a fundamental advantage of injectable drug delivery. As a result, the medicine has a quicker time acting, can be dosed precisely, and has a higher bioavailability. Additionally, long-acting injectable medications are manufactured so that the medicine is released gradually over a long period of time.
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The market for injectable drug administration is estimated to strengthen its foundations at a steady CAGR of 8.9% over the course of the anticipated timeframe. The market is expected to generate US$106.4 billion in revenue by 2033, with a share of US$ 45.3 billion in 2023.
Syringes, needles, and auto-injectors are just a few examples of the several injectable drug delivery systems. Depending on the drug and the patient’s condition, they may be given by healthcare experts or by the patient themselves.
Additionally, the delivery of drugs via injection is essential for the treatment of patients, particularly in emergency cases where a quick response from the drug is required. It is also frequently used when oral delivery is not an option, such as with individuals who have digestive problems or are asleep.
Key Research Findings:
- Increase in demand for point-of-care devices and reduced reliance on healthcare facilities are driving the growth of the global injectable drug delivery market
- North America will be the dominant regional market for injectable drug delivery devices due to early adoption of advanced technologies
- Most of the major players operate from the U.S., which makes the U.S. the leading market for injectable drug delivery devices in North America
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- In Europe, a large number of diabetes patients are switching towards needle-free injectable drug delivery devices from conventional injections since it is a painless process and reduces the risk of needle stick injuries
- Disposable injectors are the most commonly available type of injectors since they are user friendly and do not require special skills for administration
- Prefilled needle-free injectors are the most preferred type of injectors since they are much easier to administer than the fillable type
- Price control for most of the injectable drug delivery devices is fierce. For instance, Mylan was pressurised to launch the generic version of the EpiPen to reduce the price of the product in the market. However, this has declined the revenue of the company.
- In developed regions, such as North America and Europe, hospitals are the dominant distribution channel due in injectable drug delivery due to the reimbursement policies
- The growing competition in the emerging market and the rising demand for injectable drug delivery are the future opportunities for the growth and expansion of the injectable drug delivery market.
Major Contributors of the Injectable drug delivery Market are
- Amgen Inc.
- Antares Pharma Inc.
- Becton Dickinson and Company
- Consort Medical Plc (Bespak)
- Crossjet
- Medtronic plc,
- Mylan N.V.
- SHL Group
- West Pharmaceutical Services
- Ypsomed
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Key Segments
Product Type:
- Self Injector
- Needle Free Injectors
- Auto-Injectors
- Wearable Injectors
- Insulin Pens
Technology:
- Non-Smart Injectors
- Smart Injectors
Usage:
- Disposable Injectors
- Reusable Injectors
Indication:
- Anaphylaxis
- Diabetes
- Cardiovascular disease
- Multiple Sclerosis
- Rheumatoid Arthritis
- Cancer
Distribution Channel:
- Hospital Pharmacies
- Drug Stores
- Retail Pharmacies
- Online Pharmacies
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By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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