Market Synopsis:
Market Research Future (MRFR) has published a report stating that the global injectable drug delivery devices market is marked to expand at a remarkable CAGR of 11.5% during the forecast period of 2022-2027 and reach the valuation of USD 31,900 Mn by the end of the forecast period. High prevalence of chronic diseases that require injectable drug delivery devices on a daily basis as part of the treatment procedures is one of the primary factors that are propelling the growth of the global injectable drug delivery devices market.
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Introduction of technologically advanced devices for subcutaneous administration of drugs such as wearable injectors and increasing adoption of self-injectable devices by the individuals suffering from diabetes are also leading to the significant expansion of the global injectable drug delivery devices market. However, high cost of products and risk of cross-contamination caused due to improper use of injectable devices are restraining the growth of the global injectable drug delivery devices market during the review period.
Key Players:
The leading players profiled by MRFR that are operating in the global injectable drug delivery devices market are Eisai Co. Ltd., Antares Pharma, AstraZeneca, Eli Lilly and Company, F.Hoffmann-La Roche AG, Becton, Dickinson and Company, Johnson & Johnson Services Inc., Mylan N.V., Novartis AG, Novo Nordisk, Pfizer Inc., Sanofi, Teva Pharmaceutical Industries Ltd., and Inovio Pharmaceuticals Inc.
Market Segmentation:
The Global Injectable Drug Delivery Devices Market has been segmented on the basis of devices, therapeutic application, usage pattern, site of delivery, distribution channel, facility of use, and region. Based on devices, the injectable drug delivery devices market has been segmented into conventional injection devices and self-injection devices. The conventional injection devices segment commands the major share of the global injectable drug delivery devices market and. The conventional injection devices segment has been sub-segmented into material, product, and utility. The self-injectable devices segment has been sub-segmented into needle-free injectors and pen systems and autoinjectors.
Based on therapeutic application, the market has been segmented into autoimmune diseases, hormonal disorders, cancer, and others. The autoimmune diseases segment is projecting dominance over the global injectable drug delivery devices market and is expected to reach the valuation of USD 19,913.7 Mn by the end of the review period. Based on usage pattern, the global injectable drug delivery devices market has been segmented into curative and immunization. The curative segment is expanding at the fastest growth rate in the global injectable drug delivery devices market during the assessment period.
Based on site of delivery, the injectable drug delivery devices market has been segmented into intramuscular, subcutaneous, and intradermal. The intramuscular segment commands the largest share of the global injectable drug delivery devices market. Based on distribution channel, the market has been segmented into hospital & retail pharmacies and online platforms. The hospitals & retail pharmacies segment is leading the global injectable drug delivery devices market. Whereas, the online platform segment is anticipated to expand at the fastest CAGR of 11.4% during the assessment period. Based on facility of use, the injectable drug delivery devices market has been segmented into hospitals and clinics, home care settings, and others.
Regional Analysis:
Geographically, the global injectable drug delivery devices market has been segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. The Americas is dominating the global injectable drug delivery devices market owing to the rapid incorporation technologically advanced healthcare solutions, expansion of biotechnological industry, increased prevalence of chronic diseases and the availability of well-developed healthcare sector in this region. The Europe region accounted for the second largest market share in the year 2022 and is projected to reach the market valuation of USD 13,074.3 Mn by the end of 2027. The injectable drug delivery devices market in this region is majorly driven by easy adoption of technologically advanced healthcare services and increased research and development funding in this region. The Asia Pacific region is projecting the fastest growth at a CAGR of 11.4% in the global injectable drug delivery devices market owing to the high demand for therapeutics in the rapidly developing healthcare sector in developing economies of this region. The Middle East and Africa region is projecting steady expansion in the global injectable drug delivery devices market due to lack of awareness and less exposure to primary healthcare services in the underdeveloped areas of this region.
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