The Injectable Drug Delivery Market Demand is estimated to increase at a steady CAGR of 8.9% over the forecast period. The market is worth $45.3 billion in 2023, with revenue predicted to reach $106.4 billion by 2033. Furthermore, because to its ease of use, the needle-free injector subtype is predicted to hold a major share of the needle-free type of Injectable Drug Delivery market. North America is likely to maintain its dominance in the global Injectable Drug Delivery market due to the presence of a large number of Injectable Drug Delivery device manufacturers, the majority of whom are based in the United States.
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The rising prevalence of chronic diseases such as diabetes, cancer, and rheumatoid arthritis, as well as other factors such as the need for patient-controlled drug release and the increased risk of needle stick injuries, are expected to drive the growth of the Injectable Drug Delivery market. In the Injectable Drug Delivery market, technological improvements have resulted in improved product offerings. However, some constraints, such as a stringent regulatory framework and high product pricing, are projected to stymie the growth of the Injectable Drug Delivery market. The increasing demand for point-of-care devices is a prominent trend in the Injectable Drug Delivery industry. Injectable Drug Delivery devices are easy to self-administer and do not require a healthcare professional for administration, which as a result skips the need of hospital visits and relatively lowers the healthcare spending for an individual.
The global Injectable Drug Delivery market is divided by product type, usage, end users, and geographies. The disposable Injectable Drug Delivery utilisation category is predicted to be the most appealing. Hospital pharmacies are predicted to be the dominating segment among the three end users due to perks such as good reimbursement rules in the majority of nations throughout the world.
The global Injectable Drug Delivery market is estimated to grow at an 8.9% CAGR during the forecast period. North America dominated the regional market for Injectable Drug Delivery in 2017, with approximately 32% market share, owing to the region’s expanding number of manufacturers and early acceptance of innovative technologies. Western Europe is predicted to be the second largest market for injectable drug delivery, with considerable shares held by Germany, the United Kingdom, and France. Due to the low capital requirements for manufacturing Injectable Drug Delivery, APEJ is predicted to be the third largest market for Injectable Drug Delivery.
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Key Research Findings
- According to FMI, the US market will be worth $31.2 billion by 2033.
- China is predicted to have a dominant proportion of the East Asian market over the projection period. The Chinese market, according to FMI, will be valued US$ 9.3 billion by 2033.
- The market for Injectable Drug Delivery Systems in the United Kingdom is predicted to reach US$ 5.3 billion by 2033, according to FMI.
- The combination of new product launches and R&D is likely to push the market, which is expected to earn US$ 5.4 billion by 2033.
- The insulin pens market, according to the FMI analysis, is predicted to increase at a 7.2% CAGR between 2023 and 2033, up from a 6.4% CAGR in the previous estimate.
- In terms of usage, disposable injector sales are expected to increase over the evaluation period. The segment is expected to grow at an 8.2% CAGR between 2023 and 2033, up from a 7.5% CAGR in the previous estimate.
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-Injectors
- Needle-free Injectors
- Auto-Injectors
Usage:
- Disposable Injectors
- Reusable Injectors
Distribution Channels:
- Hospital Pharmacies
- Retail Pharmacies
- E-commerce
About Future Market Insights, Inc.
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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