The practise of injecting pharmaceuticals directly into the body is referred to as the “Injectable Drug Delivery Market“. For the delivery of several medications, including hormones, shots, antibiotics, and painkillers, it is a commonly used approach in healthcare settings. This technique of pharmaceutical delivery has a variety of advantages over other ones, such oral or topical.
One of the primary benefits of injectable drug administration is the ability to deliver medications straight into the bloodstream or specific target tissues without having to pass through the digestive system. As a result, the medication acts more quickly, allows for precise dosing, and has a higher bioavailability. Additionally, the production of long-acting injectable drugs ensures that the drug is released gradually over a lengthy period of time.
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Over the anticipated timeframe, it is predicted that the market for injectable medication administration would expand at a consistent CAGR of 8.9%. By 2033, it is anticipated that the market would bring in US$106.4 billion in sales, with a share of US$ 45.3 billion in 2023.
Among the many injectable drug delivery methods are syringes, needles, and auto-injectors. They may be administered by medical professionals or by the patient themselves, depending on the medication and the patient’s condition.
Additionally, the administration of medications by injection is crucial for the treatment of patients, especially in emergency situations where the drug must react quickly. When oral delivery is not possible, such as when dealing with those who have digestive issues or who are asleep, it is also regularly utilised.
Key Research Findings:
- Increase in demand for point-of-care devices and reduced reliance on healthcare facilities are driving the growth of the global injectable drug delivery market
- North America will be the dominant regional market for injectable drug delivery devices due to early adoption of advanced technologies
- Most of the major players operate from the U.S., which makes the U.S. the leading market for injectable drug delivery devices in North America
- In Europe, a large number of diabetes patients are switching towards needle-free injectable drug delivery devices from conventional injections since it is a painless process and reduces the risk of needle stick injuries
- Disposable injectors are the most commonly available type of injectors since they are user friendly and do not require special skills for administration
- Prefilled needle-free injectors are the most preferred type of injectors since they are much easier to administer than the fillable type
- Price control for most of the injectable drug delivery devices is fierce. For instance, Mylan was pressurised to launch the generic version of the EpiPen to reduce the price of the product in the market. However, this has declined the revenue of the company.
- In developed regions, such as North America and Europe, hospitals are the dominant distribution channel due in injectable drug delivery due to the reimbursement policies
- The growing competition in the emerging market and the rising demand for injectable drug delivery are the future opportunities for the growth and expansion of the injectable drug delivery market.
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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
Key Segments
Product Type:
- Self Injector
- Needle Free Injectors
- Auto-Injectors
- Wearable Injectors
- Insulin Pens
Technology:
- Non-Smart Injectors
- Smart Injectors
Usage:
- Disposable Injectors
- Reusable Injectors
Indication:
- Anaphylaxis
- Diabetes
- Cardiovascular disease
- Multiple Sclerosis
- Rheumatoid Arthritis
- Cancer
Distribution Channel:
- Hospital Pharmacies
- Drug Stores
- Retail Pharmacies
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
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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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