Growing Prevalence of Chronic Ailments Such as Cancer and Diabetes and Breakthrough Advances in Drug Delivery Methods are Major Factors Driving Industry Demand
VANCOUVER, BC, July 27, 2021 /PRNewswire/ -- The global injectable drug delivery market size is expected to reach USD 1,235.53 billion by 2027 at a CAGR of 11.3%, according to a new report by Emergen Research. Market revenue growth in can be attributed to various factors such as increasing prevalence of autoimmune diseases and severe chronic diseases including diabetes and cancer and introduction of advanced drug delivery methods. Growing use of advanced biologics, technological enhancements in injectable devices, and increasing use of self-injectable devices for several benefits such as convenient use, high-precision drug delivery, and cost-effectiveness are other key factors contributing to the revenue growth of the global market.
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Injectable drug delivery is one of the most common and effective drug delivery methods and involves intravenous or subcutaneous administration of drugs using various injectable devices. The method is appropriate for administration of drugs with poor oral bioavailability and offers benefits such as ease of use and lesser pain. Extensive use of injectable drug delivery devices in the treatment of autoimmune diseases, cystic fibrosis, Wilson's disease, hemophilia, hepatitis C, and numerous other conditions is a major factor driving market growth. Market revenue growth is further driven by surging need for minimally invasive drug delivery solutions, increasing usage of self-injectable devices including auto-injectors, pen-injectors, and needle-free injectors, and emergence of new drug delivery methods such as dual-injectables.
Some Key Highlights in the Report:
- Based on type, the formulation segment dominated all other segments in terms of revenue in 2019. Revenue growth of this segment is primarily attributed to increasing use of colloidal dispersions and lyophilized formulations, solutions, and suspensions in injectable drug delivery devices. Rise in pharmaceutical research activities to develop more effective drug formulations is another factor driving revenue growth of this segment.
- The self-injectable devices segment is expected to register robust revenue growth rate during the forecast period. Revenue growth of this segment is majorly driven by rising demand for self-injectable devices such as auto-injectors, needle-free injectors, and pen injectors due to several advantages such as convenient use and cost-effectiveness. Rising prevalence of diabetes and growing use of pen and needle-free injectors for insulin administration have further driven demand for self-injectable devices.
- Based on end-use, the global injectable drug delivery market is segmented into hospitals & clinics, home care settings, ambulatory care centers, and others. The hospitals & clinics segment reached the highest revenue share in 2020, owing to factors such as increasing cases of acute and chronic diseases, rising volume of hospital admissions, growing need for minimally invasive drug delivery methods, and introduction of advanced injectable drug delivery systems.
- Among regional markets, the North America injectable drug delivery market dominated other regional markets in terms of revenue in 2020 on account of increasing incidences of acute and infectious diseases, growing demand for advanced biologics, and increasing adoption of self-injectable drug delivery systems in home care settings.
- Baxter International, Nova Nordisk A/S, Becton Dickinson, Sanofi, Pfizer, InjexPharma GmbH, Terumo Corporation, Unilife Corporation, Gerresheimer AG, Vetter Pharma-Fertigung GmbH & Co. KG., Schott AG, and Eli Lily & Company are among the top companies operating in the global injectable drug delivery market.
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For the purpose of this report, the global injectable drug delivery market is segmented on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Conventional drug delivery (solutions, reconstituted/ lyophilized formulations, suspensions)
- Novel drug delivery (colloidal dispersions and nanoparticles)
- Self-injectable devices (auto-injectors, needle-free injectors, pen injectors, and others)
- Conventional injection devices
Application Outlook (Revenue, USD Billion; 2017-2027)
- Hormonal Disorders
- Autoimmune Diseases
- Oncology Disorders
- Orphan Diseases
End-use Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Home Care Settings
- Ambulatory Care Centers
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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