Injectable drug delivery devices include an array of medical devices ranging from conventional syringes, needle-free injectors to auto and pen injectors. The demand for such devices has witnessed a rise in recent years on account of the mounting prevalence of chronic diseases across the globe. Market Research Future (MRFR) predicts the growth of the global injectable drug delivery devices market to be splendid at a CAGR of 11.5% over the forecast period of 2018-2023. The global injectable drug delivery devices market is likely to surpass a valuation of USD 31,900 Mn by the end of 2023.
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The growth of the global injectable drug delivery devices market is sustained by the high prevalence of chronic diseases such as diabetes and cancer. Injectable drug delivery devices are used in the treatment of such medical conditions which spurs the demand for injectable drug delivery devices. In addition, owing to their use of use, injectable drug delivery devices are being progressively adopted. Other contributing factors to the growth of the market include key developments within the market as a result of R&D and clinical trials. Additionally, the rise in a number of FDA approvals also boosts the growth of the market. Introduction of advanced injectable drug delivery devices with superior functional capabilities is anticipated to reflect positively on the market growth.
Conversely, the growth of the global injectable drug delivery devices market might be restricted by the underlying risk of cross-contamination. Nevertheless, the proliferation of vaccination programs across underdeveloped countries provides lucrative growth opportunities for market expansion.
The global injectable drug delivery devices market has been segmented based on device, therapeutic application, usage pattern, site of delivery, distribution channel, and facility of use.
By device, the global injectable drug delivery device market has been segmented into conventional injection devices and self-injection devices. The conventional injection devices segment has been further segmented into material, product, and utility. The self-injectable devices segment has been further segmented into needle-free injectors and pen systems and auto-injectors. The conventional injection devices segment commands the largest share of the global market.
By therapeutic application, the global injectable drug delivery device market has been segmented into autoimmune diseases, hormonal disorders, cancer, and others. The autoimmune diseases segment is the largest segment by therapeutic application.
By usage pattern, the global injectable drug delivery devices market has been segmented into curative and immunization. The curative segment is expected to be the fastest growing segment over the forecast period.
By site of delivery, the global injectable drug delivery devices market has been segmented into intramuscular, subcutaneous, and intradermal. The intramuscular segment is the largest segment.
By distribution channel, the global injectable drug delivery devices market has been segmented into hospital & retail pharmacies and online platforms. The hospitals & retail pharmacies segment is the largest segment while the online platform segment is expected to be the fastest growing segment by the end of 2023.
By facility of use, the global injectable drug delivery devices market has been segmented into hospitals and clinics, home care settings, and others.
By region, the global injectable drug delivery devices market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East and Africa (MEA).
The Americas is leading the global injectable drug delivery devices market. Expansion of the biotechnology industry, the surging prevalence of chronic diseases and a robust healthcare sector spur the growth of the market. Also, the region is a frontrunner in the incorporation of technologically advanced healthcare solutions which further accelerates the growth of the market.
Europe held the second largest share of the global market in 2017 and is likely to reach USD 13,074.3 Mn by the end of 2023. High adoption of advanced healthcare services coupled with extensive R&D efforts can be credited for the growth of the Europe market.
APAC market for injectable drug delivery devices market is expected to register the highest CAGR of 11.45 OVER TEH FORECAST period. High demand for advanced healthcare in rapidly growing economies drives the APAC market.
Lack of awareness and less exposure to primary healthcare services in the underdeveloped regions of the Middle East & Africa is expected to impede the growth of the market.
The key players in the global injectable drug delivery devices market include Eli Lilly and Company, Antares Pharma, Inovio Pharmaceuticals Inc., Eisai Co. Ltd., Becton, Sanofi, Johnson & Johnson Services Inc., Novo Nordisk, AstraZeneca, F.Hoffmann-La Roche AG, Teva Pharmaceutical Industries Ltd., Pfizer Inc., Dickinson and Company, Novartis AG, and Mylan N.V.
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Detailed Table Of Contents:
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions & Limitations
1.3 Market Structure:
2. Research Methodology
2.1 Research Process:
2.2 Primary Research
2.3 Secondary Research:
3. Market Dynamics
3.4 Macroeconomic Indicators
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