Overview:
The global market for injectable drug delivery devices is showing immense potential for growth with which it can attain an 11.3% CAGR and target a crossing of USD 17,401.8 million by 2023. Market Research Future (MRFR) published a report recently where it claimed that prevalence of chronic diseases can inspire better intake of these devices. Better expenditure in research and development, high integration of revenues for various procedures, better structure of the healthcare sector can influence the global market impact. The market for injectable drug delivery devices is also experiencing significant market traction from its ease of application.
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Segmentation:
The global market report of the injectable drug delivery devices is finding a proper segmental analysis in the MRFR’s recently published report. This report covers significant growth charts that various factors have triggered. This would simplify the understanding of the market for future growth references. The global market for injectable drug delivery devices has been segmented into devices, usage pattern, therapeutic application, distribution channel, site of delivery, and facility of use.
By device, the global market for injectable drug delivery devices includes conventional injection devices and self-injection devices. The global self-injection market is witnessing traction due to the continuous demand for do-it-yourself devices.
By therapeutic application, the global market for injectable drug delivery devices covers hormonal disorders, autoimmune diseases, and cancer. These segments can impact can the market considerably.
By usage pattern, the global market report on injectable drug delivery devices finds better understanding from a coverage of curative pattern and immunization.
By site of delivery, the global market report for injectable drug delivery devices encompasses subcutaneous, intramuscular, and intradermal.
By distribution channel, the global market review of injectable drug delivery devices encompasses hospital & retail pharmacies and online platforms. The online platforms are fast gaining mileage.
By facility of use, the global market report encompasses hospitals & clinics and home care settings.
Regional Analysis:
The Americas is all set to dominate the growth track by having a control over the global market with a valuation of USD 17,401.8 million by 2023. The market would achieve a CAGR of 11.3% to maintain this dominance throughout the forecast period of 2018 to 2023. The Americas market can be divided into North America and South America. North America would register significant increase in biotechnology industry and its growing intake can trigger better acceptance of it as a process to treat cancer and diabetes. High growth in investment for the healthcare sector can also boost the market. Europe’s growth would depend mostly on the extensive research and development projects that is finding significant increase in funding and devices are getting adopted without much hindrances.
The Asia Pacific region can market growth with two significant changes like hike in individual spending capacity and huge population. Both these factors are getting backed by better reimbursement systems. However, the Middle East & Africa market may find sluggish growth due to the presence of poor economic regions.
Competitive Landscape:
Companies taking huge interests in the global market for injectable drug delivery devices market are implementing several strategies to make sure that the market gets a fair chance to expand. These companies have been profiled by MRFR for a better reading of the global market for injectable drug delivery devices. These companies are Antares Pharma, Eisai Co., Ltd, Eli Lilly and Company, AstraZeneca, Becton, Dickinson and Company, Johnson & Johnson Services Inc., F. Hoffmann-La Roche AGNovartis AG, , Mylan N.V., Pfizer Inc., Novo Nordisk, Teva Pharmaceutical Industries Ltd, Sanofi, and Inovio Pharmaceuticals Inc.
In October 2019, researchers from the University of North Carolina Health Care declared that their project on long-acting injectable multi-drug implant is showing promising signs in treating patients with HIV and other diseasdes.
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